Home Buying and Home Selling Tips

Is There Really a Housing Shortage?

varac — Thu, 17 May 2012 06:58:56 +0000

It may be hard to believe, but the dramatic drawdown in inventories during this spring buying season is bringing some cries of “housing shortage” from hotter markets around the county. But is there solid evidence to support such a claim?

On Realtor.com, year-over-year inventories are down 21.48 percent through March. NAR reports first quarter inventories existing homes are down 21.8 percent nationally. At the end of the first quarter there were 2.37 million existing homes available for sale, a 41 percent decline since the summer of 2007 when inventories set a record of 4.04 million homes.

Full story is available on upi.com

More Positive Real Estate News

varac — Thu, 17 May 2012 06:56:33 +0000

Here’s some more positive news coming out today about the recovering U.S. real estate market, which might have reached a major turning point in the month of April.

1. California Spring Home Buying Season Off to Strong Start, Home Sales and Price Post Impressive April Results – “California home sales and median price both jumped in April, with sales shooting up to their highest level in more than two years, and the median price rising above $300,000 for the first time in 16 months.

Full story is available on DailyMarkets

BofA boosts relocation payments to short sellers

varac — Thu, 17 May 2012 06:54:35 +0000

Bank of America Corp. said on Tuesday it had launched a nationwide program that offers increased relocation payments to delinquent mortgage customers who complete qualifying short sales.

The second-largest U.S. bank said the program, tested in Florida last year, offers payments of $2,500 to $30,000 to help homeowners move out of their homes. A short sale is when a lender allows a homeowner to sell a home for less than the amount owed on the mortgage.

Full story is available on Chicago Tribune

Foreclosed Americans find way back to homeownership

varac — Thu, 17 May 2012 06:52:11 +0000

When Jennifer Anderson’s family could no longer afford their mortgage and lost their home, she expected many years to pass before they would again become property owners.

But less than two years later, in March, they purchased a $297,000 house outside Phoenix, Arizona, after qualifying for a loan backed by the U.S. government.

Full story is available on WTAQ

Bank of America expands short sale incentive to $30,000

varac — Thu, 17 May 2012 06:50:48 +0000

Expanding a program that began in Florida, Bank of America plans to entice more distressed homeowners across the county to sell houses in short sales by offering up to $30,000 in relocation money.

The bank tested the program in the fall in Florida, where more than 11,000 homeowners agreed to participate.

Full story is available on TampaBay

Bank of America expands short sale incentive to $30,000

Homes for Sale Grow Scarce as Sellers Await Higher Prices

varac — Thu, 17 May 2012 06:48:31 +0000

A real estate agent near California’s Silicon Valley seeks sellers by combing property records for people who’ve owned their houses for at least 40 years. A Denver-area broker offers half his commission for a listing, while a counterpart in South Florida hosts happy hour gatherings at bars to loosen up homeowners reluctant to sell.

Real estate agents, who spent the six-year U.S. housing collapse coaxing buyers off the fence, are now hunting for sellers as home inventories hover near lows last seen in 2005. A scarcity of properties signals the housing market’s uneven recovery as purchasers trying to take advantage of record affordability run up against homeowners choosing to stay put in properties that aren’t worth as much as they owe.

Full story is available on BusinessWeek

Realtors say they are seeing ‘unprecedented’ prices for homes

varac — Thu, 17 May 2012 06:44:23 +0000

Channel 2 action news has discovered homes in some local communities are selling for less than the price of a new car.

Realtor Teresa Palacios walked Channel 2′s Kerry Kavanaugh through a condo with a fireplace, deck, and a washer-dryer.

Full story is available on wsbtv.com

Real estate: Home staging can sell your house fast

varac — Thu, 17 May 2012 06:41:38 +0000

Selling a house isn’t easy these days. While the market may be starting to recover, sellers still have lots of competition, and it remains a buyer’s market.

So you may want to know about a hot new way to make your house sell quickly, and for a good price.

Full story is available on abcactionnews.com

10 Tips to Selling Your House Fast

varac — Thu, 17 May 2012 06:40:19 +0000

Declutter, freshen and – cover up the tarantulas. That’s the advice of at least one local expert for homeowners looking to sell their house quickly

Spring is the best time to sell your home, according to lendingtree.com. If you’re getting ready to sell, Realtor Ginny Fisher of Hall & Hunter Realtors in Birmingham says to focus on first impressions.

Full story is available on Patch

Always hire an attorney when selling a house

varac — Thu, 17 May 2012 06:39:22 +0000

DEAR BRUCE: We have listened to you on the radio for many years and know that you always say to use a lawyer when buying a house, but we have listed our house for sale and have been given an exclusive right-to-sell listing agreement. In this instance, do we need a lawyer to sell the house? The agreement is from a well-known national real estate company. — J.P., via email

DEAR J.P.: In my judgment, every real estate transaction requires the services of an attorney. You can be certain that your mortgage lender(s) will be represented, as will the financing agency of the buyers. Far too many things can go wrong — if not now, then somewhere down the road. What makes you think you are above all this?

Full story is available on DailyLocal