Real Estate

Property value confusion is not uncommon out there. After talking with countless borrowers over the years, I found a common theme. One, people think when they make improvements they get a dollar for dollar increase in value.
And two, they think their home has to be spotless before they can let the [...]

I have good news: Existing home inventories are dropping..and the same goes for new home inventories too.
I have contended until the housing market finds a new equilibrium, we won’t see the banking crisis or the recession averted. So this gives us all a flicker of hope in a sea of despair.
Home Inventories Key
We all [...]

David Lereah, the former NAR chief economist and spokesman, in a recent interview when asked about all of his overly optimistic predictions on the housing market that have now been shown to be, in my opinion, intentionally false, said he was just using “positive spin”.
Wow!
David Lereah – Spin Doctor
The CNN Money website reports [...]

The First-Time Home Buyer Tax Credit stuffed into the Housing and Economic Recovery Act of 2008 to stimulate demand for housing or ease the mortgage crisis, will not have the desired effect. One of the reasons is this supposed tax credit is really just a loan!
First-Time Home Buyer Tax Credit Examined
Let’s examine what real [...]

Kirkway Estates is a classic example of new home builder overreaching and the pitfalls the home buyer can encounter. Falling prices, inability to sell, and living in virtual ghost towns are just some of the dangers when dealing with financially strapped home builders.
Kirkway Estates Virtually Empty
When home builders run out of money, they cannot [...]

Toll Brothers Inc., the high-end home builder, reported revenue of $796.5 million that exceeded analysts expectations of $735 million. Toll Brothers also reports the lowest quarterly cancellation rate in two years.
New Home Demand
Bloomberg reports CEO, Robert Toll stated,
“We believe there is growing pent-up demand from those who have postponed buying during the [...]

Negative equity is reported today to have occurred in almost 30 percent of homes purchased in the last five years and 45 percent in homes bought in the last two years.
Negative Equity Explained
Negative equity occurs when the home value is lower than the mortgage balance, also referred to as being “underwater” or “upside [...]

A historic landmark, a working lighthouse for sale for $1? Sounds like a joke, but sadly it is true. The government is dumping a working lighthouses to avoid the real estate and maintenance expenses.
Saybrook Lighthouse For Sale
The Saybrook lighthouse also known as the Saybrook Breakwater Light is currently for sale for single greenback. [...]

The Case Shiller Home Price Index released today will get a lot of media play touting the worst price drop ever for the month of May stating a 15.8% decline. However, a deeper look at the data tells a different story.
The AP is reporting,
“The Standard & Poor’s/Case-Shiller 20-city index dropped by 15.8 percent in [...]

The National Association of Realtors (NAR) reported today a decline in June of existing home sales by 2.6 percent, a ton more than the 1 percent drop expected.
After better numbers in May, this is a clear signal the housing market still has a long way to go before hitting bottom. This bad news is [...]

Home values are the biggest indicator as to when we can say the foreclosure crisis and mortgage crunch will soon be over. Once home values stabilize lenders, investors, and home owners can all breathe a collective sigh of relief…and that day may soon be here!
The Case-Shiller Home Price Index of home values can show [...]

The National Association of Realtors (NAR) Chief Economist, Lawrence Yun, was recently listed by USA Today as one of the experts to listen to when it comes to the housing market. After his most recent ridiculous statements after the largest slide in home prices since the Great Depression, I beg to differ.
As all [...]

When it comes to house selling tips, the best advice I can give is on how to find a good real estate agent. Most house selling tips come from self-serving listing agents. Mine do not.
I wrote an extensive article on how NOT to choose an agent a year or so ago. I [...]

I get the question: Is Selling My Home After I Buy Dangerous? a lot these days. Since the resale existing home market has weakened it just maybe too risky for most home owners.
I got a typical email where the writer says:
“Rob, I’ve got to move due to transfer and must move ASAP. Selling [...]

Getting the right real estate help is imperative when attempting to sell your home. However, for most Americans finding the right real estate agent is not an easy process.
I can’t tell you how many times over my 15 years in the mortgage industry when I ask potential clients how they decided on their real [...]

The idea of “staging” a home to make it look alluring to buyers has become a necessity. The goal of home staging is to create an increased demand for your home selling it faster and for more.
Home staging is a must if you are to sell your home in this current tough market.
What is Home [...]

New home buying is filled with traps and tricks designed to put you at a disadvantage. So take a minute to learn about new home buying traps so you can easily turn the tables on the builder.
Contract negotiation from the buyer’s side should be simple, but it’s not. New home builders play games [...]

Real estate closing costs can with certain limits be paid by the seller without detriment to the buyer if you know the rules. Ignorance of the rules can turn real estate closing costs into a Catch-22.
Why is this important?
It can be the difference between a loan approval and a loan [...]