Month: March 2011

February Home Sales Characterized by Low Home Prices, Cash Purchases

Total sales of existing homes in February dropped, according to the National Association of Realtors, so let’s look at other real estate figures that are more encouraging: 1.  More cash sales Cash sales accounted for 33 percent of total home sales in February, a new record percentage and an increase from 32 percent in the previous month and from 27…

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Sell Your Home to a Millennial Home Buyer, Wells Fargo Suggests

If you’re selling your home, here’s another group to target – the Millennial Generation. This group consists of those born between 1979 and 1991, the oldest of whom are now in their 30s. This is in addition to another group – the Generation X – which was identified as a group for home selling opportunities by John Burns Real Estate…

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Will Florida’s Population Growth Accelerate Home Buying?

Will the fact that Florida increased sharply in population in 2010 rev up home buying? Florida was the eighth fastest growing state in 2010, based on the 2010 census. The state’s population rose by 17.6 percent to 18.8 million from 15.98 million in the year 2000, an increase of 2.82 million people. The 10 states with the biggest rates of…

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Buy a Home With Loan from Chase, the Most Searched Bank

Chase must be offering better services such as bank accounts and home loans as it is the most searched bank in the U.S. and in the world, based on web traffic rankings as of March 2011 by Quantcast, a web analytics and media measurement service. One of the most-frequently used keyword used to reach the Chase website is Chase mortgage,…

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Sell Your Home to a Generation X Buyer

If you’re selling your home, it’s a smart move to design some of your ads to reach the Generation X homebuyers. According to the National Association of Home Builders, Generation Xers are expected to rev up homebuying this year because they’re the most mobile among the population cohorts. MetLife also said that homeownership is important for Gen Xers. In its…

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As ARM Home Loans Get Popular Again, Take Caution

If you’re changing your mind and considering getting an adjustable rate mortgage because of the lower rates of ARM home loans, think again. Only when you’re sure you’ve covered the risks that you should put your signature into something that can change and drag you down. Remember, it was the huge percentage of ARM loans that largely triggered the fall…

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How to Sell Your Home in a Market Filled with Low-Priced Foreclosures

How can you ever compete on price with bargain-priced foreclosures? Would you cut your listing price again? Well, don’t compete on price because you’ll not win; compete on areas where you’re a sure winner over foreclosed homes. When listing your homes online or offline, highlight in your ads the advantages of your home over foreclosed homes. Say that they can…

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Buy a Home in Florida, Among the Tax-Friendliest States

If you buy a home in Florida, you not only enjoy the sunshine and the beaches, you’ll also enjoy the money that you save from not paying taxes that are normally paid by residents of other states. Florida has been known as among the friendliest states when it comes to taxes. The following tax policies in Florida explain why: 1.   …

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Improvement in Jobs Good for Real Estate Market

Signs of improvements in the employment situation nationwide is good for the real estate market, particularly the residential sector. In February, the unemployment rate fell to 8.9 percent, the third consecutive month it fell since December last year. In November last year, the jobless rate worsened further to 9.8 percent from the October rate of 9.6 percent, and then it…

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Drops in Foreclosures and Mortgage Delinquencies Among Pluses in HUD Report

The continued decline in foreclosure actions and the year-over-year drop in mortgage delinquencies are just two of the positives in the housing market report released by the HUD for the month of February. The overall number of housing units hit with foreclosure filings dropped in February from 315,700 units in February last year to 261,300 units, representing a significant drop…

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Inventory of Existing Homes for Sale Surged by 3.75 Percent Nationwide

The number of existing homes for sale nationwide increased by 3.75 percent over the month in February 2011, with 14 of 27 major cities posting increases in housing supply. According to Altos Research, the total supply of pre-owned homes for sale in the ten major cities in the Altos Research Composite dropped from 257,639 units in December 2010 to 255,358…

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Existing Home Prices Expected to Increase This Spring

If you’ve found the house you’re looking for, it’s advisable to buy it now, as home prices are expected to increase this spring, based on the week-by-week price trend monitored by Altos Research. The month-over-month existing home price trend showed continued decline over the past three months, but the latest week-by-week showed increases. The Altos Ten-City Price Composite dropped by…

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Why You Need an Agent to Show and Sell Your Home

At first, it might seem that you can sell your home fast without the help of a real estate agent. Perhaps you’ve read about some people who have sold their homes as FSBO properties. Or perhaps you’re Internet savvy and you know you can duplicate what listing agents are doing online. But later on you will realize that it’s not…

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