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Housing Market

The most recently published posts in the Housing Market category
Seventy-five percent of single home owners ages 25 to 50 say home ownership is important to them, according to a new Century 21 survey. These are the top three reasons single home owners say they decided to buy: They viewed home ownership as an investment in their financial future; they were tired of paying rent; and they thought it was the right time to purchase a home.“We are in the mid...
Read Post [Posted on 08/28/2014 By John Askins]
Median list prices continued to move up in the majority of markets in July, according to realtor.com®’s latest National Housing Trend Report. The median list price is where half of active listings are higher and half are lower. The following markets posted the largest gains in median list prices in July year-over-year, according to realtor.com®’s data: Stockton-Lodi, Calif.: 31.9% ...
Read Post [Posted on 08/27/2014 By John Askins]
Home buyers who require financing for their home purchase can struggle to compete against buyers who have offers of all-cash.But cash deals represent a very small percentage in Texas, Utah, and New Mexico. Where are all-cash deals are the most prevalent? Cash deals represented 80 percent of home sales in June in Vermont; 58 percent in Nevada; 57 percent in Florida, and 51 percent in New York,...
Read Post [Posted on 08/27/2014 By John Askins]
 The combination of low inventory, high demand and rising prices put house sellers in the Houston market in a strong position. With a median sale price of $214,000 for the area! Are you thinking about selling your home? Are you hesitant ? Don't be . It's a Sellers Market right now. If you decided to list your home what part of town woould you move to? ...
Read Post [Posted on 08/26/2014 By Candice Godby]
The pace of existing-home sales rose for the fourth straight month in July, adding more evidence that the national housing market is improving.The national housing market continued to improve in July when existing-home sales reached their highest annual sales pace so far this year, NATIONAL ASSOCIATION OF REALTORS® data show.The median existing-home price rose to $222,900 in July, up 4.9% from Jul...
Read Post [Posted on 08/26/2014 By Garrett McWhorter]
Intense speculation continues on when the Federal Reserve will raise short-term interest rates. Minutes from the July Federal Open Market Committee (FOMC) meeting revealed the latest Fed analyses. But no firm conclusions were reached. According to the meeting's minutes, further examination of the economy's progress, the labor market, and inflation are necessary.Fed officials discusse...
Read Post [Posted on 08/26/2014 By John Askins]
Depending on how Americans' experienced last decade's housing crash—whether they were a home owner or a bystander reading about it in the news—as well as their age influenced their perceptions of home ownership today, according to a study by economists at the Boston Federal Reserve.Two-thirds of Americans who did not personally suffer a loss directly from the housing crisis and who knew of the hou...
Read Post [Posted on 08/24/2014 By John Askins]
Banks are increasingly telling borrowers that if they want to buy a home, they need to come with a higher down payment. Banks are requiring higher down payments in order to help mitigate the bank's risk as home prices continue to fall. Plus, banks say larger down payments discourage delinquencies. The median down payment in nine major U.S. cities rose in the past 12 months to 22 percent --the high...
Read Post [Posted on 08/24/2014 By John Askins]
Many borrowers are finding that the low mortgage rates are still out of their reach. So how can borrowers snag these rates before they do rise out of reach for many more? Basically, you need to prove to lenders you are less risk: Lenders offer the best rates to those who they perceive as low-risk borrowers.  Here are ways for consumers to show lenders that they are low-risk borrowe...
Read Post [Posted on 08/24/2014 By John Askins]
With Marcus & Millichap's National Apartment Report showing that the U.S. average for asking rents recently came in at more than $1,061 a month, housing analysts believe more apartment tenants will increasingly look to own.  Some expect the average monthly rent to rise to over $1,100 this year, which Paul Bishop of the National Association of REALTORS® says should prompt more potent...
Read Post [Posted on 08/23/2014 By John Askins]
I am writing this blog out of complete frustration with the lack of understanding it seems on WHO benefits and WHY there is an "Option Period" (or a Termination Option) on our contracts here in Texas.   Let me start with a bit of explanation for those who are not familiar with our Texas Real Estate contracts (which may in fact include some of the agents I have been co-oping with!):If it ...
Read Post [Posted on 08/22/2014 By Renee Buckhoff]
Rendering of Swayze Court - Photo from Urban Living At the corner of Alba and Wakefield Urban Living's latest development is getting attention from the locals. Not just for the homes, but for the name - Swayze Court. It's a nod to famous Oak Forest native and Dirty Dancing star Patrick Swayze's mother Patsy. According to Vinod Ramani, owner of Urban Living, the original developer of the prope...
Read Post [Posted on 08/22/2014 By Tawnya Marney]
Ten metros are standing out for strong price appreciation, housing inventory increases, and a rise in home sales that are far outpacing the more moderate gains in the national housing market, according to realtor.com®'s National Housing Trend Report for June. "National housing trends are masking some of the excitement we're seeing in individual markets," says Jonathan Smoke, realtor.com®'s ...
Read Post [Posted on 08/22/2014 By John Askins]
While housing markets may be uneven in many parts of the country, more buyers are placing an emphasis on green -- with some studies showing that green homes can sell for higher dollar than non-green homes.  In Portland, OR., an analysis from the Earth Advantage Institute found that green-certified new homes sold, on average, for 8 percent more than non-certified green homes--and in one of ...
Read Post [Posted on 08/22/2014 By John Askins]
FICO, the nation’s most popular credit-scoring system, announced it is tweaking some of the criteria used in coming up with consumers’ scores, which could help consumers save more money in qualifying for mortgages and other types of loans.The changes include reducing the toll that overdue medical bills can take on credit scores, as well as removing other past penalties from consumers w...
Read Post [Posted on 08/21/2014 By John Askins]
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