- How to Decorate Simply for the Holidays (With Big Impact) | ow.ly/sDoC30gZ2yX You may have dreams of... fb.me/T5Ib3P0U 48 minutes ago
- JOIN PATRICK PARKER REALTY IN OUR FIFTH ANNUAL ONE WARM COAT® DRIVE! November 24 - January 15 7 days per week from… twitter.com/i/web/status/9… 21 hours ago
- @jenniferpricci @TheRealPhilX That sucks. I’m sorry you missed him play at Jamians. 2 days ago
- @jenniferpricci @TheRealPhilX Is that what you’re going to LA for? 2 days ago
- @jenniferpricci @TheRealPhilX That sucks. I’m sorry. I know how much you love The Drills. 2 days ago
Category Archives: Financing
Even some veteran renters are looking at today’s housing market and wondering whether it’s time to start an Eastern Monmouth County home search. With prices and mortgage rates as low as they are while rents continue to move higher, the numbers point to home ownership as an ever more obvious choice.
But that’s just the quick, back-of the envelope budget equation: monthly rent vs. mortgage payment less tax savings. If this Summer finds you at the start of your own Jersey Shore home search, many financial advisors recommend that you also consider another rule of thumb – you should plan to stay in your new home for at least five years.
Last week’s report indicated that the 5.9% increase was more than three times greater than economists expected. According to the National Association of Realtors in Washington, the index of pending home resales climbed 5.9% to 101.1. This matches the two-year high reached in March. Continue reading
2012 shows signs of an improving housing market as the U.S. economy continues its forward-moving yet slow road to recovery. Although there are economists projecting housing prices will decline further, aided by distressed property sales that sell at a greater discount, these prices are expected to rebound considerably later in the year and continue into 2013.
Factors that continue to impede a speedier recovery in the housing are consumer confidence, job-growth uncertainty, and tough lending standards that keep many otherwise qualified buyers from financing a home purchase. However, consumer confidence may be showing signs of improvement according to a report released by Fannie Mae on December 7, which revealed that consumer sentiment toward home prices is stabilizing and that, for the first time in six months, more people believe that prices will soon begin to rise. This is an encouraging development, as much of our economic vitality depends upon the overall confidence of the consumer, and could trigger even stronger home sales as more people feel confident that prices will go up.
One of the key drivers of homes sales, the employment rate, is beginning to show promising signs of a turnaround. The four-week average for jobless claims, as of November 19, was 394,250, a drop of 3,250 from the previous four weeks, and at the lowest levels since April. Consumer confidence also rose 15 points in the last month, and is now at its highest point since July of this year. Eric Green, Chief Market Economist at TD Securities Inc. said, “The trend remains very constructive. Jobless claims are back below 400,000, which seems to be the pivot point in terms of a strengthening labor market as opposed to a weakening one.”
In addition to improving employment conditions, home affordability also improved as interest rates fell further, opening the door for more first-time home buyers who accounted for 34% of the sales in October, an increase from 32% last month and over last year. The western United States saw the greatest increase in home sales, which were up 4.4% month to month and up over 15% from last year.
A strengthening job market, along with encouraging signs from the housing sector, including a 10% jump in pending sales for October, are strong economic forces. While mortgage lending still remains a challenge, these forces may send a signal to banks to relax lending regulations and allow for a more rapid recovery.
Since affordable pricing tops the list of motivation and criteria for buying, it is no surprise that many first-time home buyers purchase distressed properties, which can be up to 30% below market value. Cost-conscious buyers are the most interested in distressed properties, but it is important for them to take into consideration the additional costs and expenses related to damage or neglect that occurred during the foreclosure process. Continue reading
Real Estate Agents Make You Significantly More Money
When selling your home, a Real Estate Agent can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and conditions of competing properties. These are key factors in getting your property sold at the best price attainable.
This column is addressed to every home seller in America. Your obvious goal is to get the highest possible price for your home.
I’d like to share a little-known process about how you can get more showings per day than all the competition on your side of town. Also, I’m offering some tips on how to get more qualified prospects per day — and there is a difference.
It has to do with your pricing strategy.