Posts Tagged ‘Buy a home’
8 Signs that the Housing Market is Improving
We finally have a reason to celebrate!! There is an avalanche of positive news regarding an upturn in the real estate and housing market in 2012.
- Foreclosure activity in 2011 is down more than 50% lower in several states, including New Jersey, Maryland and Florida. Realty Trac
- The much feared “shadow inventory” of foreclosures declined dramatically in 2011. In December 2012, 2.2 million properties were in some stage of foreclosure. In September 2011, that number dropped to 1.5 million units…or a whopping 32% in nine months. Realtytrac
- Realtors in some hard hit area’s, such as Michigan and southern California, are reporting a shortage of housing inventory and a return to bidding wars in tight markets.
- Wall Street thinks the worst is over. Stocks of the nation’s five largest, publicly traded, home builders are at 52 week highs, signaling an upswing in home construction in 2012. In addition, the home builders have been snapping up deals on land and abandoned subdivisions, in anticipation of increased buyer demand. CNBC
- Home sellers, Realtors and home builders are getting help from rising rents, as Americans realize that owning a home is often less expensive than renting one. And, while future rent increases have no ceiling on how high they can go, ownership locks in housing expenses and equity is created as the loan balance decreases each month.
- Legal issues, property maintenance and other issues complicating the foreclosure process will push banks and lenders to approve more short sales in 2012, further reducing housing inventory.
- Interest rates will remain at historical lows in 2012, which allows more people to qualify for a home and cheap money buys more house for the same monthly payment.
- Overall, foreclosure activity was dropped more than 30 percent in 2011. Fewer than 2 million properties foreclosure notices were filed in 2011, down from 2.9 million property filings in 2010. Realty Trac
If you need to sell your home, things haven’t looked this favorable in years. 
Arm yourself with an MLS listing and exposure on Realtor.com and all the major search engines for real estate. Millions of home buyers search these websites, daily. If your home isn’t there, they will buy the one that is.
Thank you for visiting Why6Percent.com. We have helped thousands of home sellers and we can help you, too.
No First Time Buyers Hurt Housing Market
The lack of first-time buyers is hurting the housing market and their absense is hampering the recovery.
In normal markets, first time buyers make up 40%-45% of all home purchasers. Since January of 2011, purchases made by first time buyers averages only 32%
Why is this important for existing home sales?
First time buyers are crucial to the market because they buy starter homes so those owners can step up to a more expensive property. Despite low mortgage rates and deeply discounted prices, they are remaining on the sidelines…at least for now.
What may be keeping first time buyers out of the housing market?
Some experts point to a hangover from the Expired Tax Credit of 2009 and 201o, which may have lured buyers into a home sooner than later. Some point to tighter lending standards and increased down payment requirements. The best loan terms now kick in with a down payment of 20% or more, which may be very difficult for a first time homeowner.
The Silver Lining — The National Association of Realtors reported that a record 33% of all existing home sales in Febuary were to Cash Buyers. In some parts of the country, cash buyers accounted for more than half of all the existing homes sold.
Thank you for visiting Why6Percent.com. We have helped thousands of home sellers and builders market their homes and save money. We can help you, too! Visit our website for facts and details.
Home Sellers should check out InfoTube.NET a FREE homes for sale and rent website. Visit the site to place a free ad on your property, view listings or to purchase a Made in America InfoTube or InfoBoxe to help you market your home on the street.
We can also arrange for your property to be shown on your local MLS and/or Realtor.com and all major real estate websites. CLICK HERE for details.
Truth about Winter Home Sales
Seller’s often wonder if they should take their home off the market during winter. My answer is usually “NO”. Seller’s expend a lot of money and effort to get a home ready for sale and it does no good if the property isn’t on the market. And, while there are fewer buyer’s during winter, there are also fewer homes for sale.
But, if you’re still debating…consider the following:
- Winter, spring, summer or fall…if you’re priced above the rest of the market, your home will help sell the well priced listings, but not yours.
- There is less competition from competing homes during winter and less inventory benefits sellers’.
- Buyer’s who are househunting during winter are serious and truly motivated.
- Interest rates trend lower during winter months, when loan demand is low.
- Gardens and landscape don’t look as appealing in winter. If your home won’t exactly win ”yard of the month” during summer…a snowy winter may actually level the playing field for you.
- Don’t believe that if you pull your home off the market during winter, you can bring it back in the spring as a new listing. No one is fooled by this trick. Your listing will still appear as canceled and relisted in the MLS.
- If it’s not on the market, the right buyer may come and go.
Thank you for stopping by Why6Percent.com. We have helped thousands of home seller’s market their properties and save thousands of dollars in commissions and fee’s. We can Help You, too. Click HERE to review our marketing packages.
Is it Cheaper to Buy or Rent in Your Town?
Is it Cheaper to Rent or Buy in Your Town or City? Take a look at a couple of fun and easy tools that make calculating the cost of ownership vs the cost of renting a snap.
The Rule of 15: Here is how the Rule of 15 works for real estate investors:
- Determine the rental rates for the area you are interested in. Rental rates can be found at Zillow, Trulia or a new fun website Rentometer.
- Calculate how much you would pay in rent for one year. (Example: $1000/month x 12 = $12,000/yr)
- Multiple the annual rent by 15. (In our example, $12,000/year x 15 = $180,000.
- Look up and compare the asking prices of comparable properties in the same area.
- If the sales prices in the area are higher than the annual rent times 15, the location is still over priced for the market and prices will continue to fall. In other words, keep renting and banking cash.
- If the sales prices of homes in the area are lower than your annual rent times 15, the market has probably gone through most of the bust cycle and if may be safe to step in and buy.
Rentometer.com is a very handy tool for anyone looking for a new place to rent or investors searching for the best place to buy a piece of rental property.
The website is simple and easy to use. Simply, type in a zipcode, add the number of bedrooms you are interested in, and, with one click, Rentometer comes to life with a map display and property links for all the rental options and rates in your selected area.
This site is a great example of why map mashups are so popular. It is one of the most useful rental sites on the web I’ve seen and it is a lot of fun to use.
Thank you for visiting Why6Percent.com. We are here to assist you in getting your property exposed to the largest number of qualified buyers. Visit the site or call 1-800-381-9496 to see what’s available in your area.
Home Sellers – Up Your Odds
April has been a very strong month for home sales across all area’s and price ranges. Congratulations to dozens of our MLS and Realtor.com customers , who have received strong offers on their houses this month. Great job and good luck to each of you, as you move on to your new lives.
In order to help other customers, we looked into why some sellers were successful and some were not. We found that successful home sellers had 2 things in common. Thankfully, we were thrilled to find that the common denominator was not being the cheapest priced home in the neighborhood. This year, the homes that sold for near or at the asking price were properties that were in excellant condition and staged to sell. Every single one of them!!!
“Up the Odds” of selling your home by accepting two truths about this market… and then take action.
- First Truth: The market for homes that are in poor condition or need repairs is DEAD. The huge demand is for the homes that are immaculate and ”move in” ready.
- Second Truth: The homes that were sold this spring Showed Well. Many had lingered on the market for months on end. The owners recently neutralized, depersonalized, cleaned, decluttered and staged them. Not surprisingly, every single one of these homes Sold. There is no need for debating this issue…depersonalizing and decluttering sells homes.
Why6Percent.com recommends that home seller’s chant “this is no longer my home” at least 3 times a day. Neutralize, clean, declutter and pack up. Look at the property through the eye’s of the buyer. It’s the only way to Tip the Odds in Your Favor…We Promise!
Neighbor’s Eyesore Home Stops a Sale
The appearance of nearby and neighboring homes absolutely affects a homeowners’ abililty to sell their property. Even if your home is the gem and pride of the neighborhood, buyers will be turned off if you live next door to an eyesore.
Problems with neglected, abandoned property and homes that have fallen into disrepair has escalated since the economic meltdown.
Why 6 recommends that sellers take action by placing a friendly call to the homeowner, explain they are trying to sell their home and ask them clean up their property. Or, if it’s appropriate, a seller can offer to clean up unsightly messes themselves. If a phone call fails to resolve the concern, contact local code enforcement officials or homeowners associations to find out if there is a code violation. If so, file a compliant.
A shabby run down home devalues every home near it. It’s your neighborhood. Step Up!!
Thank you for visiting Why6Percent.com. Place a Property listing on your local MLS, Realtor.com and all major real estate sites for $399…why pay 6 percent????
10 Towns for Real Estate Steals and Deals
It’s our job at Why6Percent.com to have our finger on the pulse of real estate from coast-to-coast. Recently, we have been telling you to get ready for a big home selling season this spring.
Why? Interest rates are rising. Job losses have slowed to a trickle. Factory and Industrial output is up for the first time in years. And, we feel that the Fed is holding back information, for now, on the job creation that is happening as we speak.
So, where are the best real estate deals in the country?? We have identified 10 cities that are offering up Trump-type deals of a lifetime. CLICK HERE to see where the action will start first.
If you haven’t placed your property listing on the MLS, Realtor.com, Zillow, Google, MSN, Military.com and all the other major real estate websites…you are missing buyers. Go to the Why6Percent.com website and sign up NOW!!Don’t wait a minute longer. Tax Credits, Rising Rates and Gutted Home Prices are creating a stir among buyers early this spring. You snooze…you lose… And, we certainly don’t want that.
Share Your Property Information and Idea’s
InfoTube.net announced some recent updates to it’s website that make it easier for homeowners to share information and property details on the internet.
Share Your Property Information with One Click
InfoTube.net has provided a direct “Share” link on every home listing. The “Share” link automatically feeds your property listing to all major sharing websites such as Facebook, Twitter, MySpace, etc. If you use social networking or RSS feed websites, simply select where you want your property listing posted and click. It’s that easy. (The Share Link can be located under the “Email Seller” link on every home listing.)
Sellers and Buyers Communicate, Learn and Get Advise
InfoTube.net for Real Estate has an Offical Facebook and Twitter page where you can post pictures, questions, idea’s or funny real estate stuff you want to share. Become a Fan and Contributor Today.
Thank you for visiting Why6Percent.com!! If you haven’t placed a FREE property listing on InfoTube.net, please do so Today. Without InfoTube.net you miss buyers, exposure and the free assistance that is available to you. InfoTube.net, combined with the MLS, provides a one-two punch for a knock out home sale!!!
Fannie Mae offers Cash Rebate to Buyers
Close on a home listed on Homepath.com before May 1st and Fannie Mae will give pay up to 3.5 percent for your closing costs or new appliances!!