You’ve made the decision to sell your home. Even if you’ve sold a house before, this process can be daunting because it is a major financial transaction that involves many steps from selecting a sales professional and marketing the home, to negotiating with buyers and finally receiving funds at the closing. Yet, the home-selling process doesn’t have to be intimidating if you know what to expect. The process can be divided in nine steps.
Step 1: List your property with a real estate professional. Select someone who is knowledgeable, listens carefully, and with whom you feel comfortable. Interview at least three real estate professionals. Use their listing presentations to compare their preparation and professionalism. Don’t base your selection solely on selling price or commission. It’s probably best to avoid working with someone who promises you the moon—in this case, an unrealistically high price—then has to make price reductions until the property sells. Instead, focus on marketing plans, service and past results.
Step 2: Establish price and time frame. Determining a fair asking price is crucial in this market. Price the property too high and it could languish on the market. Of course you could always decrease the price later, yet you’ve lost potential buyers. Your real estate professional can help you determine true market value based on a comparable market analysis, which will include recent home sale transactions as well as homes currently on the market. Supply and demand, craftsmanship, amenities, condition and any special circumstances can also impact price. For instance, a relocation move might necessitate a quick sale.
Step 3: Develop and implement a marketing strategy. To get the most exposure for your home, you should have a marketing plan with clear objectives and an outline of specific resources to be used. Your plan should include a mixture of conventional and online marketing to optimize your reach to potential buyers.
Step 4: Get Your Home in Show Condition. Remember, you only get one chance to make a first impression. So make sure your home is in tip-top shape inside and out. Eliminate clutter and remove personal items. Refresh the paint, clean the carpets and make minor repairs. Keep the grass trimmed and add color to your landscape. You may also want to consider hiring a professional to stage your home. A home in move-in condition is much more attractive to buyers in a competitive market.
Step 5: An offer is submitted. Once your home is on the market, a buyer will make an offer through his/her real estate sales professional. The buyer’s sales professional will present the offer to your representative, who will promptly relay it to you and help you evaluate the offer.
Step 6: The negotiation process begins and eventually an offer is accepted. One of the most critical roles played by your real estate professional is in the negotiation phase. Negotiations over the terms of a home-purchase contract can be extremely sensitive. The process of offer and counter-offer may go on until parties arrive at an acceptable contract, which can go very quickly or take days, even weeks.
Step 7: Buyers submit a loan application and home inspections are scheduled. Most often, the loan approval is contingent upon a satisfactory appraisal and various inspections.
Step 8: The loan is approved and the closing process begins. Once the buyer’s home loan has been approved, preparations begin for the closing. The closing, also referred to as settlement or close of escrow, is the final step toward completing the sales transaction between the buyer and seller. During this process, your sales professional will funnel all the necessary closing documents to the escrow agent. This may include the deed, mortgage, tax receipts, a Certificate of Occupancy and other documents. A final walk-through will also be scheduled. Once the escrow agent receives the paperwork and the funds pertaining to the sale of the property, the escrow is closed.
Step 9: Time to move!
Of course this is a simplification of what is otherwise a complex transaction. As you are going through each stage of the process, look to your real estate professional to provide guidance so that you feel comfortable every step of the way.
Tuesday, September 21, 2010
Thursday, September 16, 2010
10 reasons why it's good to buy a home!
Enough with the doom and gloom about homeownership. Brett Arends explains why owning a home is a good thing.
The Wall Street Journal, By Brett Arends
September 16, 2010
Enough with the doom and gloom about homeownership.Sure, maybe there's more pain to come in the housing market. But when Time magazine starts running covers that declare "Owning a home may no longer make economic sense," it's time to say: Enough is enough. This is what "capitulation" looks like. Everyone has given up.
After all, at the peak of the bubble five years ago, Time had a different take. "Home Sweet Home," declared its cover then, as it celebrated the boom and asked: "Will your house make your rich?" But it's not enough just to be contrarian. So here are 10 reasons why it's good to buy a home.
1. You can get a good deal. Especially if you play hardball. This is a buyer's market. Most of the other buyers have now vanished, as the tax credits on purchases have just expired. We're four to five years into the biggest housing bust in modern history. And prices have come down a long way– about 30% from their peak, according to Standard & Poor's Case-Shiller Index, which tracks home prices in 20 big cities. Yes, it's mixed. New York is only down 20%. Arizona has halved. Will prices fall further? Sure, they could. You'll never catch the bottom. It doesn't really matter so much in the long haul. Where is fair value? Fund manager Jeremy Grantham at GMO, who predicted the bust with remarkable accuracy, said two years ago that home prices needed to fall another 17% to reach fair value in relation to household incomes. Case-Shiller since then: Down 18%.
2. Mortgages are cheap. You can get a 30-year loan for around 4.3%. What's not to like? These are the lowest rates on record. As recently as two years ago they were about 6.3%. That drop slashes your monthly repayment by a fifth. If inflation picks up, you won't see these mortgage rates again in your lifetime. And if we get deflation, and rates fall further, you can refi.
3. You'll save on taxes. You can deduct the mortgage interest from your income taxes. You can deduct your real estate taxes. And you'll get a tax break on capital gains–if any–when you sell. Sure, you'll need to do your math. You'll only get the income tax break if you itemize your deductions, and many people may be better off taking the standard deduction instead. The breaks are more valuable the more you earn, and the bigger your mortgage. But many people will find that these tax breaks mean owning costs them less, often a lot less, than renting.
4. It'll be yours. You can have the kitchen and bathrooms you want. You can move the walls, build an extension–zoning permitted–or paint everything bright orange. Few landlords are so indulgent; for renters, these types of changes are often impossible. You'll feel better about your own place if you own it than if you rent. Many years ago, when I was working for a political campaign in England, I toured a working-class northern town. Mrs. Thatcher had just begun selling off public housing to the tenants. "You can tell the ones that have been bought," said my local guide. "They've painted the front door. It's the first thing people do when they buy." It was a small sign that said something big.
5. You'll get a better home. In many parts of the country it can be really hard to find a good rental. All the best places are sold as condos. Money talks. Once again, this is a case by case issue: In Miami right now there are so many vacant luxury condos that owners will rent them out for a fraction of the cost of owning. But few places are so favored. Generally speaking, if you want the best home in the best neighborhood, you're better off buying.
6. It offers some inflation protection. No, it's not perfect. But studies by Professor Karl "Chip" Case (of Case-Shiller), and others, suggest that over the long-term housing has tended to beat inflation by a couple of percentage points a year. That's valuable inflation insurance, especially if you're young and raising a family and thinking about the next 30 or 40 years. In the recent past, inflation-protected government bonds, or TIPS, offered an easier form of inflation insurance. But yields there have plummeted of late. That also makes homeownership look a little better by contrast.
7. It's risk capital. No, your home isn't the stock market and you shouldn't view it as the way to get rich. But if the economy does surprise us all and start booming, sooner or later real estate prices will head up again, too. One lesson from the last few years is that stocks are incredibly hard for most normal people to own in large quantities–for practical as well as psychological reasons. Equity in a home is another way of linking part of your portfolio to the long-term growth of the economy–if it happens–and still managing to sleep at night.
8. It's forced savings. If you can rent an apartment for $2,000 month instead of buying one for $2,400 a month, renting may make sense. But will you save that $400 for your future? A lot of people won't. Most, I dare say. Once again, you have to do your math, but the part of your mortgage payment that goes to principal repayment isn't a cost. You're just paying yourself by building equity. As a forced monthly saving, it's a good discipline.
9. There is a lot to choose from. There is a glut of homes in most of the country. The National Association of Realtors puts the current inventory at around 4 million homes. That's below last year's peak, but well above typical levels, and enough for about a year's worth of sales. More keeping coming onto the market, too, as the banks slowly unload their inventory of unsold properties. That means great choice, as well as great prices.
10. Sooner or later, the market will clear. Demand and supply will meet. The population is forecast to grow by more than 100 million people over the next 40 years. That means maybe 40 million new households looking for homes. Meanwhile, this housing glut will work itself out. Many of the homes will be bought. But many more will simply be destroyed–either deliberately, or by inaction. This is already
My comment on this great article, we already know what the economy is like. We turn on the TV or pick up a newspaper and all we hear about is the negative. The old example: There's a glass filled halfway up. One person looks at it as "it's half empty", another person looks at it as "it's half full". It's all in the way that a person looks at it.
The same goes for the housing market, mostly we hear the media saying how bad the market. The article above looks at it differently; it's author see's the good side of the market. The market is a great time for a person to buy a home! The interest rates are at a historical low. You can buy a home at a lower price than you could have 3 years ago and get more for your dollar.
Look at the following home in Carmel, IN. It was first listed at approximately $20 million dollars, now it's down to $9.9 million. This is a magnificent home! Click on the link:
RES Consumer Full
You are getting a huge property, with an indoor and outdoor swimming pool, a sports bldg., etc A group or company will have a great retreat! An individual will have a home that has been featured on TV, magazines, etc. This is truly a magnificent home that you would not have been able to touch at this price a few years ago! By the way if you are interested in this property contact me.
The Wall Street Journal, By Brett Arends
September 16, 2010
Enough with the doom and gloom about homeownership.Sure, maybe there's more pain to come in the housing market. But when Time magazine starts running covers that declare "Owning a home may no longer make economic sense," it's time to say: Enough is enough. This is what "capitulation" looks like. Everyone has given up.
After all, at the peak of the bubble five years ago, Time had a different take. "Home Sweet Home," declared its cover then, as it celebrated the boom and asked: "Will your house make your rich?" But it's not enough just to be contrarian. So here are 10 reasons why it's good to buy a home.
1. You can get a good deal. Especially if you play hardball. This is a buyer's market. Most of the other buyers have now vanished, as the tax credits on purchases have just expired. We're four to five years into the biggest housing bust in modern history. And prices have come down a long way– about 30% from their peak, according to Standard & Poor's Case-Shiller Index, which tracks home prices in 20 big cities. Yes, it's mixed. New York is only down 20%. Arizona has halved. Will prices fall further? Sure, they could. You'll never catch the bottom. It doesn't really matter so much in the long haul. Where is fair value? Fund manager Jeremy Grantham at GMO, who predicted the bust with remarkable accuracy, said two years ago that home prices needed to fall another 17% to reach fair value in relation to household incomes. Case-Shiller since then: Down 18%.
2. Mortgages are cheap. You can get a 30-year loan for around 4.3%. What's not to like? These are the lowest rates on record. As recently as two years ago they were about 6.3%. That drop slashes your monthly repayment by a fifth. If inflation picks up, you won't see these mortgage rates again in your lifetime. And if we get deflation, and rates fall further, you can refi.
3. You'll save on taxes. You can deduct the mortgage interest from your income taxes. You can deduct your real estate taxes. And you'll get a tax break on capital gains–if any–when you sell. Sure, you'll need to do your math. You'll only get the income tax break if you itemize your deductions, and many people may be better off taking the standard deduction instead. The breaks are more valuable the more you earn, and the bigger your mortgage. But many people will find that these tax breaks mean owning costs them less, often a lot less, than renting.
4. It'll be yours. You can have the kitchen and bathrooms you want. You can move the walls, build an extension–zoning permitted–or paint everything bright orange. Few landlords are so indulgent; for renters, these types of changes are often impossible. You'll feel better about your own place if you own it than if you rent. Many years ago, when I was working for a political campaign in England, I toured a working-class northern town. Mrs. Thatcher had just begun selling off public housing to the tenants. "You can tell the ones that have been bought," said my local guide. "They've painted the front door. It's the first thing people do when they buy." It was a small sign that said something big.
5. You'll get a better home. In many parts of the country it can be really hard to find a good rental. All the best places are sold as condos. Money talks. Once again, this is a case by case issue: In Miami right now there are so many vacant luxury condos that owners will rent them out for a fraction of the cost of owning. But few places are so favored. Generally speaking, if you want the best home in the best neighborhood, you're better off buying.
6. It offers some inflation protection. No, it's not perfect. But studies by Professor Karl "Chip" Case (of Case-Shiller), and others, suggest that over the long-term housing has tended to beat inflation by a couple of percentage points a year. That's valuable inflation insurance, especially if you're young and raising a family and thinking about the next 30 or 40 years. In the recent past, inflation-protected government bonds, or TIPS, offered an easier form of inflation insurance. But yields there have plummeted of late. That also makes homeownership look a little better by contrast.
7. It's risk capital. No, your home isn't the stock market and you shouldn't view it as the way to get rich. But if the economy does surprise us all and start booming, sooner or later real estate prices will head up again, too. One lesson from the last few years is that stocks are incredibly hard for most normal people to own in large quantities–for practical as well as psychological reasons. Equity in a home is another way of linking part of your portfolio to the long-term growth of the economy–if it happens–and still managing to sleep at night.
8. It's forced savings. If you can rent an apartment for $2,000 month instead of buying one for $2,400 a month, renting may make sense. But will you save that $400 for your future? A lot of people won't. Most, I dare say. Once again, you have to do your math, but the part of your mortgage payment that goes to principal repayment isn't a cost. You're just paying yourself by building equity. As a forced monthly saving, it's a good discipline.
9. There is a lot to choose from. There is a glut of homes in most of the country. The National Association of Realtors puts the current inventory at around 4 million homes. That's below last year's peak, but well above typical levels, and enough for about a year's worth of sales. More keeping coming onto the market, too, as the banks slowly unload their inventory of unsold properties. That means great choice, as well as great prices.
10. Sooner or later, the market will clear. Demand and supply will meet. The population is forecast to grow by more than 100 million people over the next 40 years. That means maybe 40 million new households looking for homes. Meanwhile, this housing glut will work itself out. Many of the homes will be bought. But many more will simply be destroyed–either deliberately, or by inaction. This is already
My comment on this great article, we already know what the economy is like. We turn on the TV or pick up a newspaper and all we hear about is the negative. The old example: There's a glass filled halfway up. One person looks at it as "it's half empty", another person looks at it as "it's half full". It's all in the way that a person looks at it.
The same goes for the housing market, mostly we hear the media saying how bad the market. The article above looks at it differently; it's author see's the good side of the market. The market is a great time for a person to buy a home! The interest rates are at a historical low. You can buy a home at a lower price than you could have 3 years ago and get more for your dollar.
Look at the following home in Carmel, IN. It was first listed at approximately $20 million dollars, now it's down to $9.9 million. This is a magnificent home! Click on the link:
RES Consumer Full
You are getting a huge property, with an indoor and outdoor swimming pool, a sports bldg., etc A group or company will have a great retreat! An individual will have a home that has been featured on TV, magazines, etc. This is truly a magnificent home that you would not have been able to touch at this price a few years ago! By the way if you are interested in this property contact me.
Saturday, August 28, 2010
Information on Schools
Here is a great website to find information on schools nationwide. Also has book recommendations for k - 12 grades and other interesting articles and gadgets.
http://www.greatschools.org/
Check out this site!
http://www.greatschools.org/
Check out this site!
Mortgage Rates fall even lower! Great News for buyers!
RISMEDIA, August 19, 2010—Mortgage rates fell to new lows this week, according to the LendingTree Weekly Mortgage Rate Pulse, a snapshot of the lowest and average mortgage rates available within the LendingTree network of lenders.
On August 17, lenders on the LendingTree network offered mortgage rates as low as 4.00 percent (4.13% APR) for a 30-year fixed mortgage, 3.5 percent (3.85% APR) for a 15-year fixed mortgage and 2.875 percent (3.41% APR) for a 5/1 adjustable rate mortgage (ARM). Rates fell one eighth of a point week-over-week for all product types.
Average home loan rates offered by lenders on the LendingTree network were 4.52 percent (4.70% APR) for 30-year fixed mortgages, 4.14 percent (4.43% APR) for 15-year fixed mortgages and 3.48 percent (3.72% APR) for 5/1 ARMs.
“The current rate spread has widened to 108 basis points or 1.08%, approaching the high of 111 basis points we reached at the end of July,” said Cameron Findlay, Chief Economist of LendingTree.com. “For perspective, the median spread this year has been 74 basis points. So consumers in the market for a home loan should really be doing their homework to ensure they’re getting the best possible deal before locking in a rate. Spreads this wide provide an opportunity for borrowers to take control by using sites like LendingTree.com to negotiate with multiple lenders.”
Below is a state-by-state comparison of mortgage data including a snapshot of the lowest 30-year fixed rates offered by lenders on the LendingTree network, average loan-to-value ratio and percentage of consumers with negative equity.
STATE-BY-STATE MORTGAGE DATA
LOWEST MORTGAGE LOAN-TO- % WITH NEGATIVE
STATE RATE VALUE RATIO EQUITY
Alabama 3.88% (3.99% APR) 65% 8.6%
Alaska 3.88% (4.01% APR) 67% 9.3%
Arizona 3.88% (3.99% APR) 95% 51.3%
Arkansas 4.00% (4.13% APR) 74% 12.6%
California 3.88% (3.99% APR) 72% 35.1%
Colorado 3.88% (4.01% APR) 72% 20.2%
Connecticut 3.88% (4.01% APR) 58% 11.6%
Delaware 4.00% (4.11% APR) 69% 14.3%
District of Columbia 3.88% (4.10% APR) N/A N/A
Florida 3.88% (4.01% APR) 91% 47.8%
Georgia 3.88% (4.01% APR) 80% 27.8%
Hawaii 4.00% (4.12% APR) 53% 9.3%
Idaho 3.88 % (4.01% APR) 72% 22.7%
Illinois 3.88% (3.99% APR) 72% 20.9%
Indiana 3.88% (4.01% APR) 69% 10.7%
Iowa 4.00% (4.13% APR) 66% 8.9%
Kansas 4.00% (4.14% APR) 70% 10.7%
Kentucky 3.88% (4.05% APR) 67% 9.0%
Louisiana 4.00% (4.13% APR) N/A 23.8%
Maine 3.88% (3.99% APR) N/A 23.8%
Maryland 3.88% (4.10% APR) 69% 22.9%
Massachusetts 4.00% (4.12% APR) 61% 15.8%
Michigan 3.88% (3.99% APR) 85% 38.5%
Minnesota 3.88% (3.99% APR) 65% 16.6%
Mississippi 4.00% (4.20% APR) N/A 23.8%
Missouri 4.00% (4.12% APR) 71% 15.5%
Montana 4.00% (4.13% APR) 57% 6.9%
Nebraska 4.00% (4.20% APR) 72% 8.8%
Nevada 4.00% (4.14% APR) 123% 69.9%
New Hampshire 3.88% (4.01% APR) 69% 19.1%
New Jersey 3.88% (4.03% APR) 62% 16.1%
New Mexico 3.88% (4.01% APR) 66% 12.3%
New York 3.88% (4.03% APR) 49% 6.3%
North Carolina 4.00% (4.13% APR) 70% 10.2%
North Dakota 4.00% (4.13% APR) 60% 7.6%
Ohio 3.88% (4.01% APR) 75% 19.8%
Oklahoma 3.88% (3.99% APR) 70% 6.0%
Oregon 3.88% (4.01% APR) 68% 15.9%
Pennsylvania 3.88 % (3.98% APR) 62% 7.5%
Rhode Island 4.13% (4.26% APR) 55% 16.8%
South Carolina 4.00% (4.12% APR) 70% 13.5%
South Dakota 3.88% (3.99% APR) N/A 23.8%
Tennessee 4.00% (4.12% APR) 71% 13.9%
Texas 3.88% (3.99% APR) 70% 11.9%
Utah 3.88% (4.01% APR) 73% 21.1%
Vermont 4.00% (4.14% APR) N/A 23.8%
Virginia 3.88% (4.01% APR) 72% 24.3%
Washington 3.88% (4.01% APR) 67% 15.9%
West Virginia 4.00% (4.13% APR) N/A 23.8%
Wisconsin 4.00% (4.13% APR) 68% 14.7%
Wyoming 3.88% (4.01% APR) N/A 23.8%
On August 17, lenders on the LendingTree network offered mortgage rates as low as 4.00 percent (4.13% APR) for a 30-year fixed mortgage, 3.5 percent (3.85% APR) for a 15-year fixed mortgage and 2.875 percent (3.41% APR) for a 5/1 adjustable rate mortgage (ARM). Rates fell one eighth of a point week-over-week for all product types.
Average home loan rates offered by lenders on the LendingTree network were 4.52 percent (4.70% APR) for 30-year fixed mortgages, 4.14 percent (4.43% APR) for 15-year fixed mortgages and 3.48 percent (3.72% APR) for 5/1 ARMs.
“The current rate spread has widened to 108 basis points or 1.08%, approaching the high of 111 basis points we reached at the end of July,” said Cameron Findlay, Chief Economist of LendingTree.com. “For perspective, the median spread this year has been 74 basis points. So consumers in the market for a home loan should really be doing their homework to ensure they’re getting the best possible deal before locking in a rate. Spreads this wide provide an opportunity for borrowers to take control by using sites like LendingTree.com to negotiate with multiple lenders.”
Below is a state-by-state comparison of mortgage data including a snapshot of the lowest 30-year fixed rates offered by lenders on the LendingTree network, average loan-to-value ratio and percentage of consumers with negative equity.
STATE-BY-STATE MORTGAGE DATA
LOWEST MORTGAGE LOAN-TO- % WITH NEGATIVE
STATE RATE VALUE RATIO EQUITY
Alabama 3.88% (3.99% APR) 65% 8.6%
Alaska 3.88% (4.01% APR) 67% 9.3%
Arizona 3.88% (3.99% APR) 95% 51.3%
Arkansas 4.00% (4.13% APR) 74% 12.6%
California 3.88% (3.99% APR) 72% 35.1%
Colorado 3.88% (4.01% APR) 72% 20.2%
Connecticut 3.88% (4.01% APR) 58% 11.6%
Delaware 4.00% (4.11% APR) 69% 14.3%
District of Columbia 3.88% (4.10% APR) N/A N/A
Florida 3.88% (4.01% APR) 91% 47.8%
Georgia 3.88% (4.01% APR) 80% 27.8%
Hawaii 4.00% (4.12% APR) 53% 9.3%
Idaho 3.88 % (4.01% APR) 72% 22.7%
Illinois 3.88% (3.99% APR) 72% 20.9%
Indiana 3.88% (4.01% APR) 69% 10.7%
Iowa 4.00% (4.13% APR) 66% 8.9%
Kansas 4.00% (4.14% APR) 70% 10.7%
Kentucky 3.88% (4.05% APR) 67% 9.0%
Louisiana 4.00% (4.13% APR) N/A 23.8%
Maine 3.88% (3.99% APR) N/A 23.8%
Maryland 3.88% (4.10% APR) 69% 22.9%
Massachusetts 4.00% (4.12% APR) 61% 15.8%
Michigan 3.88% (3.99% APR) 85% 38.5%
Minnesota 3.88% (3.99% APR) 65% 16.6%
Mississippi 4.00% (4.20% APR) N/A 23.8%
Missouri 4.00% (4.12% APR) 71% 15.5%
Montana 4.00% (4.13% APR) 57% 6.9%
Nebraska 4.00% (4.20% APR) 72% 8.8%
Nevada 4.00% (4.14% APR) 123% 69.9%
New Hampshire 3.88% (4.01% APR) 69% 19.1%
New Jersey 3.88% (4.03% APR) 62% 16.1%
New Mexico 3.88% (4.01% APR) 66% 12.3%
New York 3.88% (4.03% APR) 49% 6.3%
North Carolina 4.00% (4.13% APR) 70% 10.2%
North Dakota 4.00% (4.13% APR) 60% 7.6%
Ohio 3.88% (4.01% APR) 75% 19.8%
Oklahoma 3.88% (3.99% APR) 70% 6.0%
Oregon 3.88% (4.01% APR) 68% 15.9%
Pennsylvania 3.88 % (3.98% APR) 62% 7.5%
Rhode Island 4.13% (4.26% APR) 55% 16.8%
South Carolina 4.00% (4.12% APR) 70% 13.5%
South Dakota 3.88% (3.99% APR) N/A 23.8%
Tennessee 4.00% (4.12% APR) 71% 13.9%
Texas 3.88% (3.99% APR) 70% 11.9%
Utah 3.88% (4.01% APR) 73% 21.1%
Vermont 4.00% (4.14% APR) N/A 23.8%
Virginia 3.88% (4.01% APR) 72% 24.3%
Washington 3.88% (4.01% APR) 67% 15.9%
West Virginia 4.00% (4.13% APR) N/A 23.8%
Wisconsin 4.00% (4.13% APR) 68% 14.7%
Wyoming 3.88% (4.01% APR) N/A 23.8%
Find a Walkers Paradise
Walkscore provides a “walkability” rating for a specific location based on the number of nearby amenities.
Homes located within walking distance of amenities such as schools, parks and shopping aren't only more convenient for their owners, often they're also worth more than homes in neighborhoods where driving is the rule. Visit this site, it's interesting and fun.
http://www.walkscore.com/
Homes located within walking distance of amenities such as schools, parks and shopping aren't only more convenient for their owners, often they're also worth more than homes in neighborhoods where driving is the rule. Visit this site, it's interesting and fun.
http://www.walkscore.com/
Wednesday, August 4, 2010
NUMBERS ARE LOOKING BETTER IN REAL ESTATE .
Sales of new homes leap 23.6 percent
Sales of newly built homes rose 23.6 percent in June to an annual pace of 330,000 units, according to the Commerce Department.
The National Association of Home Builders called the numbers “an encouraging sign,” especially given the disastrous drop in sales in May when the federal homebuyer tax credit expired.
Sales of new homes rose strongly in three out of four regions in June.
The largest percentage increase was the Northeast’s 46.4 percent gain, followed by a 33.1 percent gain in the South and a 20.5 percent gain in the Midwest. The West was the only region where new-home sales did not improve, instead falling 6.6 percent.
Top metro home prices up 1.3 percent
The Case-Shiller analysis of home prices in 20 metro markets shows prices were up 1.3 percent in May, compared to the previous month.
So far this year, Case-Shiller research shows prices have improved about 4.6 percent.
A spokesman cautioned against reading too much into the gains, saying the housing market remains way too fragile to predict the future. “A broader look at home price levels over the past year still does not indicate that the housing market is in any form of sustained recovery,” the spokesman said.
Foreclosure numbers said to be slowing
(IRVINE, Calif.) – The foreclosure data company RealtyTrac is seeing the “early signs” of easing in the number of foreclosures nationwide, but says numbers in several key areas remain high.
The 20 cities with the nation’s highest foreclosure rates were all in Florida, California, Nevada and Arizona. Overall, the number of foreclosures in the first half of the year was above where it was last year.
On the positive side, however, RealtyTrac said foreclosure activity appears to have crested in 9 of the 10 metros with the highest rates.
“While we’re seeing early signs that foreclosure activity may have peaked in some of the hardest-hit markets, foreclosures continued to rise in three-quarters of the nation’s metropolitan areas in the first half of the year,” said RealtyTrac CEO James Saccacio
Sales of newly built homes rose 23.6 percent in June to an annual pace of 330,000 units, according to the Commerce Department.
The National Association of Home Builders called the numbers “an encouraging sign,” especially given the disastrous drop in sales in May when the federal homebuyer tax credit expired.
Sales of new homes rose strongly in three out of four regions in June.
The largest percentage increase was the Northeast’s 46.4 percent gain, followed by a 33.1 percent gain in the South and a 20.5 percent gain in the Midwest. The West was the only region where new-home sales did not improve, instead falling 6.6 percent.
Top metro home prices up 1.3 percent
The Case-Shiller analysis of home prices in 20 metro markets shows prices were up 1.3 percent in May, compared to the previous month.
So far this year, Case-Shiller research shows prices have improved about 4.6 percent.
A spokesman cautioned against reading too much into the gains, saying the housing market remains way too fragile to predict the future. “A broader look at home price levels over the past year still does not indicate that the housing market is in any form of sustained recovery,” the spokesman said.
Foreclosure numbers said to be slowing
(IRVINE, Calif.) – The foreclosure data company RealtyTrac is seeing the “early signs” of easing in the number of foreclosures nationwide, but says numbers in several key areas remain high.
The 20 cities with the nation’s highest foreclosure rates were all in Florida, California, Nevada and Arizona. Overall, the number of foreclosures in the first half of the year was above where it was last year.
On the positive side, however, RealtyTrac said foreclosure activity appears to have crested in 9 of the 10 metros with the highest rates.
“While we’re seeing early signs that foreclosure activity may have peaked in some of the hardest-hit markets, foreclosures continued to rise in three-quarters of the nation’s metropolitan areas in the first half of the year,” said RealtyTrac CEO James Saccacio
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