Archive for the ‘cooling market’ Category
White House Loses a Third of Its Value
The White House is not only an American icon, it is also a symbol of the US housing market. Like many of the nations houses, it too is worth far less than it was in 2006.
The 16 bedroom, 35 bath Presidential mansion, located on 18 prime acres in Washinton DC was valued at $331 million at the top of the housing bubble. Today, the value stands at around $250 million. That equals a drop in value of approximately 24 Percent.
White House or Your House…The Cost to Sell is the Same Low $399 for Everyone at Why6Percent.com. Check out the site for details today.
Is the Media too Negative on Real Estate?
The Boston Globe reports that “From rising foreclosure rates to dismal post-tax credit reports, media headlines continue to be centered around the negativity in today’s market. Real estate leaders, however, know that this is only one part of the story – that there are plenty of positive stories to share as well.”
To read the article about the media and real estate CLICK HERE.
Thank you for visiting Why6Percent.com. We can place your property listing on the MLS and Realtor.com..saving you thousands of dollars! Visit our site to learn more.
Landlords Raise Rents…Again
RePost from Wall Street Journal Blog:
Perhaps tired of doubling up with family or living in mom’s spare bedroom, renters are heading back into the market, driving down vacancies and driving up rents.
Nationwide, the vacancy rate measured 7.2% in the third quarter, down from 7.9% a year earlier-one of the sharpest declines on record, according to new data released Wednesday by Reis Inc.
“Despite lackluster economic growth and continuing uncertainty in the labor markets, households appear to be returning in droves to the rental market and signing leases,” writes Victor Calanog, Reis’ director of research. (See Apartment Market, Rents Rebound)
Landlords took the opportunity to bump up rents for the third quarter in a row. “We are getting more rent every time we either renew the lease or a new resident comes in,” Jeffrey Friedman, chief executive of apartment owner Associated Estates Realty Corp., tells Developments. The days of renter perks like free rent and flat-screen TVs are largely over, although landlords could be back in the incentive game if job growth doesn’t materialize next year.
The New York City metro area saw the biggest jump in rents, gaining 2.2% from the second quarter; to an average of $2,756–the costliest rent by far in the country. ( If you want cheap rent move to Tulsa, which ranks last of 82 markets with average rent of $540.)
Greenville, S.C., and suburban Virginia also saw rental gains topping 2%. Not surprisingly, rents continued to decline in some of the markets hardest hit by the housing crash. The usual suspects–Miami, Jacksonville, Fla., and Las Vegas–each dipped 0.2%.
When measuring vacancy, the nation’s tightest market is New Haven, Conn., with just 2.3% of units empty, thanks to those college kids. New York follows with 3.6%, while Long Island’s vacancy rate is 3.9%.
Jacksonville tops the list at 12.1%.
Thank you for visiting Why6Percent.com Our flat fee MLS listing or our Realtor.com “List until Sold” package are guaranteed to reach millions of homebuyers each month. If you aren’t maximizing the internet, chances are you will not be successful in selling your home. Click our link to see how we maximize the power of the internet and sell homes!
Up to a Million Homeowners Win in Foreclosure Lottery
An estimated one million U.S. homeowners, behind in their mortgage payments, are breathing easier today after three of the country’s largest banks agreed to immediately stop new foreclosure actions until they could review sloppily-read foreclosure filing by their own staffs.
The lenders are Bank of America, JP Morgan Chase and GMAC Mortgage Co. owned by Ally Financial Inc. They are temporarily halting foreclosure actions in 23 states.
They are Connecticut, Delaware, Florida, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Nebraska, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota, Vermont and Wisconsin.
For the homeowners, the action by the banks gives them a little more time to catch up on their delinquent mortgage payments.
For the residential real estate market, the action means fewer houses will be dumped in the for-sale arena, giving falling prices a chance to stabilize.
For the real estate market as a whole, the banks’ actions give the industry another black eye at a time when it is struggling to regain the public’s confidence.
(This article posted by Alex Finklestein
Thank you for visiting Why6Percent.com. We are always available to assist you with your home sale. Visit our website for an overview of available options.
8 Tips for New Landlords
Given the millions of homes that are languishing on the market, it’s no surprise that many owners are considering leasing their homes in order to avoid big financial losses. If you are an owner that is debating the pro’s and con’s of leasing your property, we have some very valuable advice to share with you.
Leasing out your home can be a great experience. A good tenant will care for your property, while paying your mortgage. Owning investment property also has tax benefits, and while the home selling market maybe soft…the present rental market is stronger than ever.
CLICK HERE TO REVIEW OUR 8 TIPS FOR NEW LANDLORDS!!!
Thank you for visiting Why6Percent.com. We have helped countless homeowner’s sell their homes without paying expensive commissions and fee’s. We can help you, too. Click the link above to learn about our Flat Fee MLS program or our fantastic Good Until Sold offering on Realtor.com
PS. Check our blog tomorrow when we share the secrets of good property managers
South Florida Condo’s Selling Like Hotcakes…Again
The recently signed Distressed Condominium Relief Act of Florida has Wall Street and bulk investors diving into the Florida condo market.
Florida implented the act on July 1st and the result has been overwhelmingly successful, so far. Wall Street firms are lining up to compete for Florida Condo’s.
CLICK HERE TO READ THE REST OF THE ARTICLE
Why6Percent.com is thrilled for Florida homeowners, builders and developers. If you are selling a home or condo, please check out our affordable Realtor.com and local MLS listing packages. You will be glad you did!!!
Housing Market Rankings Just Released
Thank you for visiting Why6Percent.com….your home selling solution. We are happy to report that most cities in California are showing a lot of improvement in housing inventory, resulting in firmer pricing. Unfortunately, Las Vegas and most cities in Florida are still struggling. We hope the recovery continues and are encouraged that homebuilders are reporting increased buyer traffic in August!
Price Your Home to Sell Today
Without the Federal Tax Credit in play, today’s home buyer’s are finding little motivation to sign on the dotted line. Mortgage rates have remained low for a long time. Inventory is creeping back up, so buyer’s have little fear of price inflation. So, what can a seller do to increase a buyer’s urgency to buy?
The #1 way that seller’s can entice buyer’s and get their attention is an aggressive price reduction. As many as 24 percent of home sellers have slashed prices in the last month–that is a 9 percent increase from June levels. And, seller’s should forget about small, nickle and dime price drops. Instead, they should dramatically drop their price to reach a search level that will open them up to new buyers that are not aware of their listing. For example, if your list price is $220,000, a drop to $199,000 will attract a new audience that is searching up to the $200,000 price point.
Bottom Line: If you are sick of waiting and want to move now, price the house to attract multiple bidders and you might even get more than you’re asking for. And remember…if you are selling your home to buy a new one, you will likely break even because the person you are buying from is in the same gut wrenching position you are.
Thank you for visiting Why6Percent.com. Our flat fee MLS packages, List Until Sold Packages and marketing tools can help you sell your property and save thousands of dollars in fee’s and commissions. Visit our site today for details and assistance.
First Hand Real Estate Reports from the Gulf Coast
We have the latest tails from the frontlines of the gulf coast oil spill, as it relates to real estate. Read what agents, brokers, consultants and property owners are saying today. CLICK HERE!
Thank you for visiting Why6Percent.com. We have helped thousands of people market their homes with our flat fee MLS program or our List Until Sold option. We can help you, too!!
Gulf Oil Spill Impacts Coastal Real Estate Values – Part 1
This week we look to InfoTube.net blog, as it focuses on the impact that the gulf oil spill from a real estate perspective.
Today, we take a look at the events that have already affected thousands of gulf coast property owners. We will conclude our series with expert predictions about what will likely follow in years to come…
Thank you for visiting Why6Percent.com. We have helped thousands of property owners successfully market their properties…while saving thousands in commissions and fee’s. There are alternatives and we can help you, too!!
