Multiple economic reports released last week indicate further improvement in economic conditions. Pending home sales, construction spending and ADP payrolls increased while Non-farm Payrolls fell and the national unemployment rate held steady. The details: Pending Home Sales, Construction Spending Increase According to the Commerce Department, pending home sales increased by 0.20 percent in October as compared to September's reading of -2.30 percent. Construction spending of 1.00 percent for October exceeded September's reading of 0.60 percent growth and expectations that October's reading … [Read More...]
Most people don't know enough to sell their own house. Here's why.
1. They Can't List It! - Only licensed brokers and agents can create a listing in the MLS sale-by-owner houses will be invisible to agents and unavailable on the Web.
2. Agents Won't Show It.- Typically, a buyer's agent gets part of the commission paid to the seller's agent. Sale-by-owner houses don't have that commission commitment so a buyer's agent might not get paid. No agents makes the pool of buyers MUCH smaller.
3. It's Probably Overpriced.- Most homeowners don't have enough data and emotional distance to put a … [Read More...]
While making a real estate purchase can be a matter rife with many questions, buying to invest in a long-term property can be even more confusing. If you're looking into investing in real estate and wondering what variables to consider, here are a few tips that you'll want to keep in mind before deciding on a fruitful investment property. Be Aware Of The Market You're Buying Into Since you'll need to be aware of what other people are looking for in a property if you're diving into real estate to invest, you'll want to carefully consider the neighborhood and city that you're buying in and think … [Read More...]
Christmas is just around the corner, and if you're in a position to do it, paying off a family member's mortgage is one of the biggest gifts you could give this holiday season. A mortgage can be a heavy burden on a young homeowner, which is why paying it off is the ultimate act of charity. But when it comes to paying for someone else's mortgage, the process isn't entirely straightforward. So how do you pay off a family member's mortgage? Here's what you need to know. Be Wary Of The Gift Tax Under US law, you can provide a cash gift to someone else - entirely tax-free - as long as it doesn't … [Read More...]
Relocating to a new city? Thinking about moving to a new neighborhood? While word of mouth from friends and family is valuable, sometimes it's necessary to get a different perspective. With the advancement of technology, it's now possible to research new neighborhoods without getting up off the couch. Here are some websites and apps that have proven invaluable with researching new areas: Use The Forums On City-Data For Exact Answers While city-data.com is a valuable resource for people who are looking into relocating to a different city, one of the best uses of the site is the active forums. … [Read More...]
Although last week's economic calendar was cut short by the Thanksgiving holiday, several housing-related reports were released. The FHFA reported on third quarter results for its Housing Market Index and the Commerce Department reported on new home sales for October. Freddie Mac released its weekly report on mortgage rates and data on new weekly jobless claims was also released. FHFA, Commerce Department report Gains for Home Prices, New Home Sales Home prices for mortgages associated with mortgages owned or backed by Fannie Mae and Freddie Mac increased 1.30 percent during the quarter ended … [Read More...]