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This article from Fox Business points out the role that real estate agents play in today’s market. While many buyers are likely to utilize the internet today for purposes of doing the preliminary work of searching for homes and gathering information on the recent sales and characteristics of certain neighborhoods, the real estate agent’s role … More What Real Estate Agents Do for Buyers.
In the past, whenever spending outpaced revenue, Congress has agreed to raise the debt ceiling. Although it is likely that this will be agreed to again by the August 2nd deadline, most economists have indicated that if they are at an impass at that time, home values will likely decline and mortgage rates will likely … More Will my home’s value fall without a debt-ceiling deal?
Many condo boards are now requiring potential buyers to complete lengthy applications and submit more documentation in order to become an owner. According to this NY Times article, the downturn in the economy has left boards extremely cautious when allowing someone into the building. Although the board does not have the right to reject the … More Condos Demand More Paperwork From Buyers.
People who bought their homes after the housing bubble burst are more likely to have an unrealistic view of their home’s worth than those who bought before the housing downturn, according to a report released by Zillow this week. In this article from CBS Moneywatch.com, it is pointed out that many who bought their homes … More Post-bubble buyers more likely to overprice home.
Many experts are tempted to state that after 4 years of declining home prices, the worst is over. According to Scott Simon, head of real estate analysis for Pimco, “The housing bust is so much worse than other ones. It’s hard to tell when it will end.” He goes on to point out that the … More The housing slump is far worse than you think.
According to the National Association of Realtors, 20% of all buyers are now single women while single guys make up 12% of the current market. This report shows that the main motivation for this group of buyers is the fact that with historically low interest rates as well as the decline in home prices, the … More Singles dive into the real estate market.
Courts in both Australia and England have already ruled that lenders may serve legal notices on borrowers who are in default of their mortgages online using Facebook. According to this Businessweek article, the U.S. may not be far behind in using social media sites to serve legal notices to signal the commencement of a foreclosure proceeding. … More Social Networking Gone Wild: Foreclosure via Facebook.
It may be a great time to buy with home prices down and interest rates at historic lows, but as pointed out in this Wall Street Journal article, lenders are making it more expensive for borrowers who seek financing. The article goes on to state that from 2003 to 2006 82% of Fannie Mae mortgages … More Mortgage Rates Are Great, If You Qualify.