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Archive | October, 2010

Will Your House Be Worth More in the Spring?




This is a question anyone thinking about selling must ask. Should they sell now or should they wait for the spring? Most years that would be an interesting question. There is a belief that many buyers come out in the spring and, with that increase in demand for housing, prices may appreciate. This year is unlike any year in recent memory. Most experts believe there will be continuing depreciation of home values throughout the next 18 months.

As we posted on recently, there may be a window of opportunity throughout the rest of 2010 as the banks try to straighten out the paperwork on thousands of foreclosures. Once that paperwork is corrected, the flow of distressed properties coming to the market at discounted prices will begin again.

This was mentioned in the latest Home Price Expectation Survey. Robert Shiller, MacroMarkets co-founder and chief economist said this:

 “Over the past month, the average projection for 2010 nationwide home price performance improved slightly among our experts, but for each year thereafter it deteriorated.  One plausible explanation for this month’s more negative overall sentiment is recent news concerning foreclosure processing questions and the related possibility of extending the supply pipeline.”

Other experts are also reporting that prices will soften next year

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Steve Harney Nominated for Prestigious Award




Our very own lead blogger, Steve Harney, has been honored by being nominated for the list: Inman News 100 Most Influential Real Estate Leaders   Please vote for Steve by clicking on the link.      

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4 Tips To Present a Stronger Mortgage Application




As underwriting guidelines for lenders become more stringent, it becomes clearer what a good mortgage application looks like. As prospective home buyers begin their search, there are a few things they can do to help get their loans approved (and with the best possible terms), and, at the same time, lessen some of the stress that goes along with the [...]

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The Collateral Damage in This Housing War




We try our best to deliver a blog post everyday that is filled with facts and studies on the housing industry. Every once in a while, one of our bloggers asks to be able to voice their 'opinion' on a particular point. This is one of those days. Here is Steve Harney's opinion on the current housing debate.  - The KCM Crew

There is war going on currently with both sides digging in and shooting at the other side. On one side, we have a group defending homeowners from the big, bad, greedy banks who tricked buyers into taking crazy loans and now are illegally evicting them from their homes. On the other side, we have those defending the banks from those deadbeat borrowers who are living rent free in the house. These families have been called many things including ‘thieves’.

I have no interest in taking up arms in this battle for either side. Both have blame in this mess. Instead, I want to take some time and mention the innocent bystander who has been injured in this war: the homeowner next door to a foreclosure who has done absolutely nothing wrong yet has suffered grave injury anyway.

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Best Time to Buy AND Best Time to Sell?




If you know a great real estate professional, you might be questioning them right now. They may tell a friend of yours in the afternoon that this is a great time to buy a home and in the evening tell another friend that they have to lower their price in order to sell their home. Wait a minute. How can it be a great time to buy if prices are falling? Is the real estate agent just saying this to make a sale? Actually, the agent is 100% correct. Perhaps for the first time in American real estate history, you must buy now and you must sell now. How can this be? Because what is important to the buyer is different than what is important to the seller. Let us explain.

The most important thing to the seller: PRICE

Every seller is most concerned with trying to get the best price possible for their home. In order to do that, they must sell now. Banks repossessed the highest number of foreclosed homes in history last month. These houses will come to market at dramatically discounted prices. This is the main reason analysts are calling for another dip in prices over the next eighteen months. The best advice a seller can receive is to sell their home now before these foreclosures come to market.

The most important thing to the buyer: COST

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