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House Prices Will Continue to Tumble

We have written several blogs recently quoting numerous sources saying now is the time to buy a home. We agree that now is definitely the time to buy. This is NOT because we are calling the bottom for real estate PRICES. What we have said is that the COST of purchasing a home is probably […]

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Home Prices: Even More Confusion

We attempt to keep you abreast of the housing market. When will demand for housing return to historic averages? What impact will foreclosures continue to have? Where are interest rates headed? There are no simple answers to any of these questions. However, the most difficult question to answer seems to be: Where are home prices […]

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What About the Cost of Delaying Your Dreams?

Whether a family is thinking of buying or selling a home, price seems to have become all important. I’m not sure why that has occurred. I realize, whenever anyone sells or buys anything, making sure you get a ‘good deal’ is a crucial part of the transaction. However, in real estate today, it now seems […]

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Are Home Prices Headed Up or Down?

Here are two headlines that appeared in print last week: LA Times: Case-Shiller Home Price Index Hits New Low Forex: CoreLogic: Home Price Index Increased 0.7% In the Los Angeles Times story, David Blitzer, chairman of the S&P index committee, was quoted as saying: “This month’s report is marked by the confirmation of a double-dip […]

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What Impact Will QRM Have on Housing Demand?

The federal government would like to dramatically decrease their role in the financing of residential real estate. To that goal, they have proposed the guidelines for a ‘Qualified Residential Mortgage’ (QRM). How would these proposed guidelines impact the demand for housing? Here is what three different entities are reporting: CoreLogic “Roughly 39% of homebuyers in […]

The Evolving Role of Video in Real Estate

I have heard it said that by 2013, 90% of new content posted to the web will be in the form of video…90%!!! What that says to me is that video is what our clients, customers, and prospects want. They want it to educate themselves without reading. They want it to be stimulated more by […]

Why You Need a True Professional to Sell Your Home

Many people ask us whether they should hire an agent to sell their home or whether they should first try as a For Sale by Owner (FSBO). In today’s volatile market, we believe this is an easy decision: you need an experienced professional! You need an expert guide if you are traveling a dangerous path […]

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Happy Birthday To Me

Turning 49 on Monday, I was struck about how different the world of communication has become. In years past, a dozen friends would have called me…a few would have even sent me a card in the mail. But this year, it was very different. Only two calls were received and no regular mail. But, I […]

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Appraisals: Why You Must Now Sell Your House Twice

Banks have become very conservative when lending mortgage money today. With the current foreclosure challenges in the country, we can’t really blame them. The requirements now necessary to qualify for mortgages have gotten much more stringent and it seems will get even more stringent as we move forward. The banks want to make sure the prospective […]

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National Housing Survey: What America Thinks

Each quarter, Fannie Mae releases their National Housing Survey. They survey the American public on a multitude of questions concerning today’s housing market. We like to pull out some of the findings we deem most interesting each time it is released. Here they are for the most recent report: The Most Important Reasons to Buy […]

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Look Past the Headlines

Earlier this week, Trulia and RealtyTrac issued a press release regarding a survey completed for the two companies by Harris Interactive. The press release, American Expectations for Housing Market Recovery Falters , reported: “As more cities across the nation experience double dips in home prices, more than half (54%) of U.S. adults believe recovery in […]

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Moving Up? Doing It Now May Make Sense

An issue that may have a gigantic impact on the housing market later this year is the lowering of the conforming loan limits. Without an act of Congress, these limits will return to the lower limits that existed prior to 2008. Today, we want to shed light on this issue and what it means to […]

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5 Reasons You Should Consider Selling Now

If you plan on moving anytime in 2011, you should strongly consider selling your house now rather than waiting. Here are five reasons why: 1.) This is when your house will get the most exposure The spring, and particularly the month of May, is when most buyers enter the real estate market. This surge of […]

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Shedding a Little Light on Shadow Inventory

Last week, we posted a blog titled: The Impact of Distressed Properties on Neighboring Values. In the article, we said there would be more distressed properties coming to market in the next six months and that these properties would put added downward pressure on prices of other homes in the area. Some questioned our assumption […]

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The Impact of Distressed Properties on Neighboring Values

The banks are finally getting their foreclosure paperwork in order. They will start bringing larger numbers of distressed properties to market over the next six months. We must realize that this influx of discounted inventory will have an impact on the values of neighboring homes. How large an impact? According to RealtyTrac a foreclosure sells […]

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Almost 14,000 Houses Sold Yesterday

One of the biggest misconceptions in today’s housing market is that homes are not selling. That is simply not true. Last month’s Existing Sales Report from the National Association of Realtors (NAR) showed that homes were selling at an “annual rate of 5.10 million”. That’s an average of 13,973 every day – 365 days a […]

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Your Retirement Home: Is Now the Time to Buy?

The last several years have wreaked havoc on many people’s plans for retirement. They have seen their nest egg dwindle and in some cases disappear. Many have pushed back the date they will stop working and some have stopped even thinking about what part of the country to which they plan to relocate. For some […]

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What Do Homeowners Say About Homeownership?

There is no shortage of experts that want to let us know how Americans feel about owning a home after the collapse of the residential market in the last five years. They MUST be devastated. They MUST feel trapped like prisoners in their own homes. They MUST be sorry they ever bought the house. These […]

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QRM: The Other Side of the Argument

There is little doubt that the ease in which mortgage money was issued early in the last decade was one of the major reasons for the housing crash. What constitutes a ‘quality residential mortgage’ (QRM) definitely should  be redefined. However, several organizations see the newly suggested guidelines going too far. The newly proposed QRM definition offered by the government […]

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Survey: A Home Is Still the Best Long Term Investment

After a five-year swoon in home prices, many assume that housing may have lost its luster as an investment. However, a nationwide Pew Research Center survey shows this drop in values has done little to shake the confidence of the American public in the investment value of homeownership. According to the survey: Fully eight-in-ten (81%) […]

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NEWSFLASH: There Is NO Inventory!!!

I was in a conversation with one of the most productive agents in our area recently and he told me that there were “no homes for him to sell”. I thought he had a brain cramp. Look at all the ‘For Sale’ signs, all the homes on MLS, all the short sales and foreclosures plus […]

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Why the Wealthy Are Buying

We have taken the stance that real estate is currently a great investment. There have been MANY that have let us know that they think we are crazy. Today, let’s look at a few prominent people, media sources and one very important group that agree that now is the time to buy. Fortune Magazine and The […]

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Pricing Is ALWAYS Local … Most of the Time

We understand that real estate is intensely local. Whether you are thinking of buying or selling a home, you should sit with a real estate professional familiar with your local area. However, that does not mean that what is happening nationally doesn’t apply to your market. What is taking place with home values is a […]

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Don’t Believe Everything You Read

Many headlines in the media right now are proclaiming the total collapse of the housing market. What makes it seem very believable is the headlines are based on two reports from the National Association of Realtors (NAR): the Existing Home Sales Report and the Pending Home Sales Report. However, all is not what it seems. Both […]

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Double Dip or Double Your Money? … or Both?

Last week, MacroMarkets LLC announced the results of the March 2011 Home Price Expectations Survey, compiled from 111 responses of a diverse group of economists, real estate experts and investment and market strategists. Many media sources reported on the survey’s comment about a projected ‘double dip’ in prices. What the media didn’t aggressively cover was […]