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What are the hidden costs of owning a home?
Good question, with lots of answers. The fact is that—aside from the price of a home—owning a home comes with a number of responsibilities and choices, all of which have price tags associated with them. Most people know the about the obvious costs: the cost of purchasing the home and the cost of financing the …
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What’s in the news for April 29, 2011?
Brokers Add Mobile Apps to Meet Buyer Needs Brokers are using applications for iPhones, iPads, and other smart phones and tablet computers. These apps allow interested buyers to get immediate information about homes for sale and the areas that surround them. Read more here. Short Sales Not Easy, But Can Pay Off And though they can …
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What is the Pending Home Sales Index?
The National Association of Realtors (NAR) publishes the monthly Pending Home Sales Index (PHSI). It is a measure of how many contracts to sell homes have been executed but not yet closed. Because the closing of a real estate transaction typically occurs one to two months after the contract is signed, this index is generally …
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What’s in the news for April 28, 2011?
Massachusetts Sales and Prices Down The number of home sales in Massachusetts was down 14% versus March 2010, and the median price declined 2.8%. Read more here. San Diego to Lead the Way in Housing Recovery? The National Association of Realtors released a report saying that San Diego may be the area most poised for …
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What’s in the news for April 27, 2011?
Attorneys Must Conduct All Closings in Massachusetts The Massachusetts Supreme Court ruled that attorneys must be active in an present at the closing of real estate transactions for Massachusetts property. Read more here.
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What’s in the news for April 26, 2011?
Case-Shiller Index Reports Price Decline for February Standard & Poor’s Case-Shiller Home Price Index for 20 metropolitan areas in the United States reported a 1.1% price decline from January to February 2011. After increasing for nearly two year, the index measured by S&P is now nearly as low as it was in April 2009. Read more …
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What’s in the news for April 22, 2011?
Las Vegas Prices Continue Decline; Median Price Near $100,000 At the peak of the real estate market in 2006, the median price for an existing home in Las Vegas was $285,000. In March 2011 the median price was $108,000. Condominiums originally sold for $399,000 are now on the resale market for $39,900. Read more here. …
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How will new jumbo loan limits affect the housing market?
The federal government’s intervention in the housing market is about to show its face again. Much of the housing market has been more or less stuck in neutral–or even reverse–since the federal income tax credits of 2o10 expired. They caused a home buying frenzy in early 2010, as many buyers bought homes sooner than they …
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What’s in the news for April 21, 2011?
Ohio and Maine Report Lower Sales and Prices Across the state of Ohio, home sales in March were down 8.2% and prices were down 11.5% vs. March of 2010. Agents in Ohio are said to be “encouraged” by these “relatively steady” numbers. If 10% drops are reason for encouragement, that certainly sheds light on the overall …
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What’s in the news for April 20, 2011?
Home Sales Up, Prices Down The National Association of Realtors (NAR) reported that the number of existing homes sold in March was up 3.5% versus March 2010. However, the median home price fell 5.9% to $156,900. Read more here. Connecticut Looks to Change Homeowners Insurance Laws The state House of Representatives in Connecticut is considering a …