News

Make rocky real estate market work for you
From CNNMoney.com, decide if you you have to sell your home now and if you do be prepared to stand out and price competitively:
There's no debate here: it really is a buyer's market. But there are some strategies you can use. Sometimes paying for moving costs or throwing in some appliances is the difference in getting your house sold.
2007-08-18
How to sell in a buyer's market
From Bankrate.com, 10 things to do before you sell:
Recognize every market is different. Your state, town or neighborhood could dovetail with national numbers or buck the trend entirely. "There really is no national market," says Sambrotto. "There's a patchwork of regional markets." Never rely solely on one person's advice or opinion. Talk to a handful of professionals, do your own research and listen to your gut instinct.
2007-08-18
Best And Worst U.S. Housing Markets
From Forbes.com, overall home prices are down 1.5%, but in some cities median home prices are up:
Leading the charge was Seattle, where prices increased 8.9%; in San Jose, Calif., they rose 8.8%; and in Raleigh and Charlotte, N.C., prices jumped 8.3% and 8.4% respectively.
In Pictures: Best U.S. Housing Markets
In Pictures: Worst U.S. Housing Markets
2007-08-18
Top Urban Enclaves
From Forbes.com, if you like the convenience of a city, but long for a quiet neighborhood then you might like an urban suburb:
To many who live there, Park Slope, Brooklyn, is an oasis within New York City, boasting one-family brownstones and plenty of parks, where the biggest danger is dodging strollers on the sidewalk.
In Pictures: Top Urban Enclaves
2007-08-09
No money down vanishing as mortgage option
From the Washingtonpost.com, many new home buyers won't be able to get a home unless they have a down payment:
Many years ago, a 20 percent down payment for a home was the norm. But as prices escalated, fewer people could afford that. After all, 20 percent of $500,000 — the cost of a middle-class suburban house in the Washington area — is $100,000.
2007-08-05
Let there be light
From Money, add skylights and big windows for more light:
DO pick skylights that open. They're better at venting than windows are. Extra cost: $200 each, or $700 for mechanized ones.
DON'T scatter skylights randomly. To prevent leaks, keep them away from where two parts of the roof meet.
2007-08-05
Living Life Like Eloise: More Hotels Add Condos
From Real Estate Journal, in order to offset costs hotels are adding condos to become profitable like the Ritz Carlton in Dallas:
...the new property isn't just for tourists or businesspeople. It will come with 166 Ritz-Carlton-brand condos and four lavishly appointed homes the developers call "freestanding manors." Condo residents will be able to enjoy the hotel's spa, room service and other amenities. Crescent is including the condos because the amount the Ritz-Carlton will charge for visitors -- about $450 a room -- isn't enough for the company to make money.
2007-07-29
States where you'll pay the most (and least) for your mortgage
From Bankrate.com, New York pays the most in origination and closing fees:
A resident of New York City getting a $200,000 mortgage would pay an average of $3,830 in origination, title and closing costs, according to the survey of lenders. On the other end of the scale, an Indianapolis resident would pay $2,339 for the same loan, or 39% less.
2007-07-29
America's Fastest-Growing Suburbs
From Forbes.com, the California suburbs are seeing incredible growth with cheaper homes than nearby cities:
Rounding out the top 10 fastest-growing suburbs after Lincoln were four Phoenix suburbs: Buckeye, Surprise, Goodyear and Avondale; Plainfield, outside of Chicago; Beaumont, outside San Bernardino, Calif.; Frisco and Wylie outside of Dallas; and Woodstock, outside of Atlanta.
2007-07-24
Homeowners Who Go Green Face Neighbors' Objections
From the Real Estate Journal, even after you decide to go green you'll have to get everyone else's approval too:
As "green"-minded homeowners move to put in new energy-efficient windows, solar panels and light-reflecting roofs, they are bumping up against neighbors and local boards that object, saying the additions defy historic-district regulations, will look ugly or damage property values.
2007-07-15
Offsetting the cost of Gov. Crist's green initiative
From the Herald Tribune, the Governor wants to make new homes 15% more efficient, but builders are worried about extra costs:
“The sticker price … is somewhat irrelevant because the monthly cost of ownership comes down” as a result of lower energy bills, said Ross. “Builders for too long have been focused on the upfront cost, and buyers, following the lead, look at the sticker price. But it is the cost of the ownership” that counts.
2007-07-15
Home prices expected to rebound in 2008
From the Associated Press, after a home price drop in 2007 there is an expected increase for 2008:
Existing-home prices are expected to gain 1.8 percent to a median of $222,700 in 2008 after a 1.4 percent decline this year to $218,800, the according said. The median new-home price should rise 2.2 percent to $222,700 next year after a 2.6 percent drop to $240,100 in 2007.
2007-07-15
Get your dream deck
From This Old House, some pictures of decks to get you started:
Putting a deck on your house is perhaps the easiest way to increase your living space. It's a solid investment in a home's equity, so carefully consider how your deck will look and perform over the long term.
2007-07-09
Buyers, mortgage brokers walk a tightrope
From US News, getting a mortgage is going to be harder and you'll have to wait longer:
Loans requiring no down payment have been affected most, lending officials agree. Firms have raised the minimum credit score needed to receive a fully financed loan -- to 620 from 570 -- and they are taking a closer look at job security, stable income and past history of delinquencies.
2007-07-09
Housing Inventories Grow In Major U.S. Markets
The Real Estate Journal looks at the increasing number of homes on the market in 18 metropolitan areas:
The biggest increases in inventory last month were in metro areas where prices generally have continued to rise. Inventory was up 9.2% in the Seattle area and 6.5% in the San Francisco Bay area. Inventories have been lean in those areas in recent years, pushing up prices, but supply now is catching up with demand.
2007-07-05