Top 5 Reasons people buy. Looking at both Financial and Non-Financial concerns. 73% believe now is a good time to buy.
Data on Homeownership from Gallup [INFOGRAPHIC]
May 6, 2013 By Leave a Comment
House Prices Are Back To Late 2003 Levels
May 1, 2013 By Leave a Comment
Case-Shiller housing report came in stronger than expected, with average home prices across 20 metropolitan areas rising 9.3% from last year. That’s better than the 9% gain that had been expected.
Housing has a way to go in the recovery.
With the current reading, house prices are now just back to Autumn 2003 levels.
Bloomberg: The Real Estate Market Recovery [video]
April 26, 2013 By Leave a Comment
The buzz in the real estate market is recovery. Is it real? Bloomberg TV talks with Jed Kolko, chief economist of Trulia, about why housing is bouncing back in many regions where household job growth is strong, driving demand and boosting home prices.
[pb_vidembed title=”” caption=”” url=”http://www.youtube.com/watch?v=OzElHKvtLJA” type=”yt” w=”680″ h=”383″]
HOME BUYING: You VS. Your Parents
April 16, 2013 By Leave a Comment
I often hear from young adults today that they are finding it difficult to establish themselves in the housing market. Owning your own home is a central part of the American dream, and a pretty important milestone in any person’s life, so it’s bad news if young people today are having a tougher go at it than we did. But are they really?
I decided to dig up the statistics all the way back to 1979 to find out how affordable a home has been for the average American over that time period, based on median home price, median family income, interest rates, debt levels, and more. The results were both surprising and complicated, so I decided to present them in infographic form to make it easier for my readers to make sense of all the data I looked at.
Whether you’re a young professional eager to buy your first home, a parent who’s about to send their first child off to a college, or a real estate professional trying to make sense of current trends, pay close attention because it’s time to take an honest look at how the average family has fared over the past three decades.
source: www.alohatony.com
Maximize your home mortgage deductions
April 15, 2013 By Leave a Comment
Use your mortgage deduction for a maximum tax refund. Watch this H&R Block tutorial for more info.
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3 Reasons to Sell Your House Today! (Part I)
April 8, 2013 By Leave a Comment
by THE KCM CREW
This week, we are going to look at three reasons to sell your house now instead of waiting: demand is strong, supply is low and new construction will soon be your competition. – The KCM Crew
Part I – Demand for Real Estate is Much Stronger This Year
When selling anything, owners can only hope there is a strong demand for that which they are selling. The great news for today’s home sellers is that the current housing market is experiencing a stronger demand than we have seen in some time.
The spring housing market of 2013 is projected to be one of the best in years.
Home Sales
The National Association of Realtors(NAR) reports monthly on both pending sales (houses going into contract) andexisting home sales (actual closed sales).
In the first quarter of 2013, pending sales have consistently outperformed the numbers reported in 2012. Contract activity has been above year-ago levels for the past 22 months. Before this year, the last time the index showed a higher reading was in April 2010, shortly before the deadline for the home buyer tax credit.
NAR also revealed that closed home sales have been above year-ago levels for 20 consecutive months and sales are at the highest level since the tax credit period of 2009-2010.
Impact on Sellers
This increase in demand has created bidding wars for properly priced homes across the country. This has resulted in two favorable changes for home sellers:
- They are receiving offers closer to (if not greater than) the list price.
- The average days it takes to sell a home has dropped by over 20% from last year.
If you are thinking about selling your home, don’t miss out on the strong demand that exists in the current spring market.
Tomorrow, we will look at the supply of housing inventory that is available.
Rent or Buy? Which is Better In These 10 Major Cities
April 1, 2013 By Leave a Comment
Figuring out whether it’s better to buy or rent rests on three main factors: where you live, how long you plan to stay and how home prices compare to rents in the area. Real estate website Trulia analyzed data from 100 major metro areas to help determine that last factor.
See where Seattle ranks. Look for homes in Seattle.
While markets vary wildly, prices are so reasonable and interest rates so low that buying is the better option in most major U.S. cities, said Jed Kolko, Trulia’s chief economist. Nationwide, home buyers who remain in their homes for three years will save an average of 19 percent over renting. If they hold onto their homes for 7 years, the savings advantage grows to 44 percent.
That means all of the initial transaction costs of buying — the broker’s commission, title insurance, legal fees and other closing costs — will be offset by benefits, like tax write-offs and price appreciation. And those costs will become cheaper than the total costs of renting, which include insurance and agent commissions.
But the math is changing. Home prices rose 7 percent year-over-year last month while rents went up only 3.2 percent, according to Trulia. “Buying is still cheaper than renting but the gap is closing,” said Kolko.
10 Places Where College Grads Can Settle
March 29, 2013 By Leave a Comment
Rent.com, a rental housing listing site, recently ranked the top 25 markets for new college grads, factoring in unemployment, cost of living, and annual mean wages. The following are the top 10 cities on its list (in no particular order), where young grads would most likely find housing, work, and a suitable paycheck.
Atlanta, Ga.
Mean annual income: $46,600
Median price for a one-bedroom apartment: $800
Boston, Mass.
Mean annual income: $57,500
Median price for a one-bedroom apartment: $1,590
Houston, Texas
Mean annual income: $47,500
Median price for a one-bedroom apartment: $800
Denver, Colo.
Mean annual income: $50,300
Median price for a one-bedroom apartment: $970
Minneapolis/St. Paul, Minn.
Mean annual income: $49,800
Median price for a one-bedroom apartment: $900
Seattle, Wash.
Mean annual income: $54,800
Median price for a one-bedroom apartment: $1,300
Dallas, Texas
Mean annual income: $46,200
Median price for a one-bedroom apartment: $900
Raleigh, N.C.
Mean annual income: $45,200
Median price for a one-bedroom apartment: $800
Washington, D.C.
Mean annual income: $62,900
Median price for a one-bedroom apartment: $1,600
St. Louis, Mo.
Mean annual income: $44,200
Median price for a one-bedroom apartment: $960
Source: “The Best Cities for New College Grads in 2013,” Forbes