BYOH
Posted on Created: Thursday, 20 May 2010 11:20
If you are in the market for a new home, then it would do you well to read the rest of this article. The problem that many prospective home buyers are having nowadays is that there is nothing that fits the bill, so to speak. Some home buyers just can’t find that one dream home. Does this sound familiar? Do you constantly find that the homes in your area are either too cheap for you, or out of your price range altogether? If so, allow me to introduce to you a new option. Buying a home is not always a necessity. Sometimes, the best option is to buy land, rather than a property. You may be thinking, that sounds like a lot of extra work. In reality, it is probably, on average, cheaper than buying a pre-existing home. Labor is cheap nowadays, and land is cheaper than it was during the housing boom of 2006. Just as it is with homes, the time is now to buy. My point in telling you this is so nobody feels pigeon-holed. You may think that you are running out of options, but that ...
 
Housing Index Rises
Posted on Created: Wednesday, 19 May 2010 14:31
Things appear to be looking up. Or at least that’s the way that home buyers see it. The Housing Index rose to its highest level since 2007 when it increased by 3 points this past month. The Housing Index operates on a scale of 1-100, 1 being the lowest possible buyer sentiment and 100 being the highest possible buyer sentiment. That means that any rating above 50 reflects a positive buyer sentiment. So, what is the new value of the Housing Index? As it turns out, the mark rose 3 points to a rate of 22, which is the highest level since 2007. This way not seem to be an overwhelmingly-positive number, but when you consider the terrible couple of years that we have been having, 22 might as well be 50. In fact, the last time that we saw a Housing Index above 50 was in April 2006- aka the height of the housing boom. What has caused this rise in fortunes? Well, the government’s incentives certainly have a lot to do with it. The tax credit, coupled with governmental programs des ...
 
Under Control
Posted on Created: Saturday, 15 May 2010 12:14
Foreclosure rates have been high. No matter what has been occurring in the housing market, it seems as if the one thing that we could always count on was that foreclosures were up. Well, consider this the end of an era. I don’t want to jinx it, but it appears as if we have hit a plateau as far as foreclosure proceedings go. Why am I so certain? Well, for one, we have seen an annual decrease in foreclosures for the first time since we began keeping track of the yearly statistic four years ago. That is a promising statistic. Foreclosures are down 9 percent from March, and 2 percent from last April. Things really appear to be looking up. How can we explain this stroke of good luck? Recently, lenders have been slowing the pace of foreclosure proceedings in order to catch up on their work, so to speak. They have been trying to clean out what they have already began; rather than taking a whole new influx of properties, they have been focusing on selling properties that they have ...
 
First-Quarter Tales
Posted on Created: Friday, 14 May 2010 13:46
Foreclosures have been our biggest problem for a very long time. I can’t even remember a time when Americans weren’t worried about losing their homes to foreclosure. Foreclosure rates have been going through the roof for the better part of the last four years, and almost nothing that the government has done to try and solve the problem has actually done so. However, there is a bright side to all of this; a bright side that comes in the form of increased home sales. In nearly 60 percent of American cities, home process increased during the first quarter of 2010. How does this have to do with the high foreclosure rates, you ask? Well, one out of every three of these sales came on foreclosed properties. That number is unparalleled. The tax credit has also had a huge impact on the numbers that we are seeing. The tax credit has been responsible for persuading thousands- no, millions- of Americans that the time to buy is now. Without it, we would likely have nothing good to sa ...
 
More Drops Coming
Posted on Created: Thursday, 13 May 2010 22:05
Everyone knows about certain cities in which the real estate crisis was more than a crisis. Detroit is one example. The city was ravaged after home prices hit the floor a couple of years back. Everybody knows about states such as California, Nevada, and Arizona, whose real estate markets hit rock bottom after prices fell from a cliff. But not everybody knows about what is coming next. Not everybody knows about cities like Atlantic City. Atlantic City, New Jersey, is the next to fall, according to a survey tool called Local Market Monitor. Over the next 12 months, Atlantic City is expected to experience the largest drop in home value out of any city in the country. Why is this? After all, Atlantic City has a bustling economy due to its reputation as one of the country’s prime gambling hotspots. However, that may have been the city’s downfall. Like the states of California, Nevada, and Arizona, Atlantic City’s home values were way up there during the real estate peak of 20 ...
 
Weathering the Storm
Posted on Created: Monday, 10 May 2010 16:25
Everyone always tells you that all of us are affected equally by the recent real estate crisis. After all, the wealthy sector of the market has suffered along with the rest of us. However, there are those who have escaped from this whole ordeal. Yes, everyone knows about Wall Street executives, but there are other people who have escaped from criticism. I am talking about homebuilder executives. While millions of Americans have been forced out of their homes, top CEOs in these homebuilding companies continue to reap the benefits. They may not be on the level of some Wall Street brokers, but these top executives do rake in, on average, $6 million per year. That’s no chump change. Why is this a problem, though? Why should we be upset that some executives are earning their money through hard work? Well, to answer that question, allow me to remind everyone that many of these executives’ companies have received government bailout money. Many of their companies have suffered w ...
 
Job Market News
Posted on Created: Thursday, 06 May 2010 10:55
The past year has been the worst year in terms of real estate in recent memory. Home prices plummeted (along with values), foreclosures rose to record highs, and many people were out of jobs. This last aspect of the economy has had arguably the greatest impact on the rest of the real estate market. Without job opportunities, holes can be patched, but nothing can ever be truly fixed. For this reason, it is important for us to understand what make this past year one of the worst in terms of job growth. Unemployment and job opportunities go hand in hand; without job opportunities, more and more people lose their jobs. But how are these job opportunities measured? There is an annual survey of most of the important metropolitan areas in the country, and experts use this data to measure the strength of the job market. This data shows how many metro areas have seen a growth in job opportunities. From January 2009 to January 2010, said survey found a meager 13 metro areas with any job ...
 
 
 

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