Home Price Trend Indicates Stability
Posted on Created: Monday, 13 July 2009 07:34
Normally when one thinks of low home prices, one thinks about happy buyers getting great deals on the home of their dreams. However, in this day and age, rapidly falling home prices simply signify instability. While there are still happy buyers, this number is greatly overpowered by the number of sad homeowners who are unable to unload their home with declining property value. The good news is that the bleeding has essentially stopped. While home prices are declining, they are not declining nearly as rapidly as they have been in the past few months. In fact, April of this year was the third straight month that home price declines were not of record proportions. Speculators indicate that consumers’ renewed confidence in the stock market is the reason that home prices have stopped declining so rapidly. The stock market bottomed out in March, and with the knowledge that their finances were no longer at risk, potential buyers became more willing to make a home purchase. While the ...
 
Not Just an Eyesore
Posted on Created: Sunday, 12 July 2009 08:44
Foreclosed homes are, of course, detrimental to the real estate market. They are symbols of the recent downslide of the American economy; detractors to once-beautiful neighborhoods. But are they more than just eyesores? Recently, a new problem has arisen with these foreclosed homes. Many foreclosed homes across the country have swimming pools that were never emptied, and are breeding grounds for bacteria. Curious children could easily fall victim to these deathtraps, as even those pools that had covers may have had their covers sag below the pool’s surface over time. There are two obvious problems with this situation. First of all, obviously, these abandoned, unsupervised pools are a hazard to small children who are wandering around. A lost life is inexcusable and irreplaceable. Second of all, there is no clear legal responsibility for these hazards. Neither the state nor the previous owner is clearly responsible for the situation, and there is nobody to blame. This has a lot ...
 
Interest Rates Rising
Posted on Created: Tuesday, 23 June 2009 22:28
The real estate landscape is changing dramatically. After a historic April, when 30-year fixed mortgage interest rates fell to a remarkably low 4.78 percent, few would have expected that the next two months would see the rate increase to 5.38 percent. However, that is exactly what happened. The effect of this sudden jump in interest rates is twofold. First off, some buyers who were in the middle of negotiations were chased out of their deals because of the rate increase. These buyers will end up having to settle for less than they expected, since a rate increase of this magnitude will have a somewhat substantial effect on monthly payments. According to Jonathan Starkey, a columnist for The Washington Post, a rate increase of 0.68 percent over two weeks (like the one experienced in late May) would cause monthly payments on a $250,000 loan to increase by $100. Another effect of this price jump is that potential buyers will decide to take a leap of faith and buy a house, reasoning ...
 
What Realtors are saying about the market.
Posted on Created: Tuesday, 14 April 2009 18:43
How often do you hear that "now is the time to buy"? Was it in 2007 or 2008 (prices down 20-30% in some areas)? There is an article in the Washington Post today on how Realtors always seem to make the case to buy a house in any environment. Here is a list from the article It's a great time to buy because ..Interest rates are low. You can afford more! ...interest rates are high. They could go even higher! ...inventory is high. Great selection! ...inventory is low. Everybody's doing it! ...it's spring. Peak selling season! ...it's summer. Families have to get settled before September! ...it's fall. The second peak season! ...it's winter. No competition! ...the stock market is down. Real estate is safer! ...the stock market is up. More money for your downpayment! ...it's baseball season. Why d'ya think they call it home plate? Anyone else heard some interesting ones not on this list? FULL ARTICLE HERE ...
 
Buying a Home Step 3: Find a Home
Posted on Created: Tuesday, 06 July 2010 17:50
The ‘fun’ part of the home buying process is finally getting out there and looking at homes. Use our MLS search to identify homes that are for sale. Do not rely on a Realtor to find you a house (there are exceptions), but instead be proactive and identify homes you want to take a look at. It is not enough to look at listings online, get out there and drive potential neighborhoods, talk to neighbors, and test the commute. Once you identify homes you want to see, call us to arrange a tour: Here are some helpful things to look for when visiting homes: 1. From the walk up: Curb appeal, landscaping, road noise and traffic, wood rot, broken siding, water drainage, cracked concrete and other signs of ignored maintenance. 2. Inside: Patched ceilings, age of windows, age of HVAC units, and age of appliances. These items are generally expensive and should be taken into consideration when determining the value of the home. 3. Floor Plan: Is it open and modern or are you going to tear ...
 
Maintaining Your Roof
Posted on Created: Tuesday, 02 August 2011 03:43
Your roof is a costly investment that you want to be certain you protect. Whether you are installing a new roof or just looking to maintain your existing roof, here are some great tips to take care of it in order to decrease wear and tear and prolong its life.Keeping Gutters Debris-Free: It is common to hear about damaged sidings and wet basements due to clogged gutters; however when excess leaves accumulate, many times this can cause water to force its way upwards causing roof sheathing and roof rafters to rot. Proper cleaning of your gutters every Spring and Fall can help avoid thousands of dollars in repairs. Doing it yourself is a possibility or hiring a local professional may be a safe ...
 
Reducing Uncertainty
Posted on Created: Friday, 21 May 2010 11:10
Obama’s plan to help lower mortgage payments is still a mystery. It has been just more than a year since Obama’s programs were created to help get Americans out of their funk, but the jury is still out as to whether or not these programs have actually helped Americans. On the one hand, about 25 percent of those who have applied for help have received it. On the other hand, another 25 percent of those who applied for the programs have dropped out of the program during the trial phase. The remaining half of Americans who have applied for help are stuck in limbo somewhere. The process involved in the programs has been criticized for not being quick enough. Many homeowners feel as if the mortgage companies simply want them to run around in circles until they get too frustrated to continue. Experts say that this practice has to stop. Mortgage companies need to expedite the program so that a quarter of applicants will not drop out during the trial phase. Another issue is the t ...
 
 
 

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