Tag Archive: house prices

Rise in Real Estate Prices Slows — and That’s Good News!

The future of real estate prices in town is always a matter of keen interest to area homeowners. So it’s important when the latest national numbers in the Case-Shiller Index show that the rate of rise in real estate prices has begun to slow.
Local homeowners should be pleased!
“WHAT?” you may well be thinking. If the …

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Two Culprits That Make Selling Your Home Tougher

Mortgage Rates

Whenever a home lingers on the market, the likeliest two culprits are either a price that’s too high to be competitive, or a home that’s not in top showing condition. If you were unsuccessful in selling your home in town this summer, it would be particularly disappointing given the strength of the selling season. The …

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Home Sales Dip May Mean…Not a Whole Lot!

down

By now, most people have gotten used to seeing home sales in town on the rise. Aided by the national recovery and historically low mortgage rates, it’s been the same almost everywhere in the country. So it may have been unsettling to some when the National Association of Realtors reported that in June, home sales notched …

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Real Estate Listings Hint Return of McMansions

mcmansion

Last week’s jobs report met familiar disagreement about the progress of the nation’s economic recovery: more new jobs, yes; too many of them part-time: yes; economy improving: sort of; enough? barely— if at all…etc. etc. etc.
What is less controversial is the resumption of the nation’s home-buying preference for ever-larger homes. The price of real estate …

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Rising Market + Low Rates = Timely Opportunity

second home

For many of us, the idea of owning a second home has always seemed an inviting long-term investment idea, but…
First, there was the expensive market. Reasonable mortgage rates were available, but the most interesting local second home possibilities were often…just a little too pricey. Then came the real estate swoon that began in 2005: a …

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Mortgage Rates Up: Mortgage Applications Down!

Rising-rates

For area homeowners and soon-to-be homeowners, it looks like the end for deeply depressed mortgage rates. Nationally, rising rates have temporarily created a downdraft in home loan applications.
According to the Mortgage Bankers Association, mortgage applications fell 4% in the first week of July after plummeting 11.7% the week before. ‘The Market Composite Index’ is the …

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Whither Goest Thou? A Mortgage Rate Questionnaire

This is one of those multiple-choice questions: which is true – A, B, C, D, or E?
A) If the headline reads AREA MORTGAGE RATES ON THE RISE! it means it’s time to buy (quick) before they go up further!
B) If the headline reads AREA MORTGAGE RATES FALL! it means it’s time to buy (quick) to …

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Short Sales Can Expand Buyers’ Affordability Range

Short sales in our area can hold the key to more than one real estate-related issue. For cash-strapped borrowers, short sale success means relieving an unsustainable obligation without having to go through foreclosure. For sharp-eyed buyers, local short sales can present outstanding opportunities to purchase properties otherwise beyond their affordability range.
Both are reasons to applaud …

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Do Local Home Prices Warrant a Bubble Watch?

housing bubble

As home prices continue to rise throughout most of the nation, sooner or later people begin to wonder whether we’ve crossed the threshold dividing undervalued from overvalued. Pundit shorthand for “overvalued” has gradually become almost synonymous with the far more fear-inducing term, “Bubble.” As with the chewing gum and soap-blowing varieties, the term can’t help …

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Home Buyers May Skip ‘Starter Homes’ Altogether

first-time-home-buyer_537

The concept of “starter homes” cropped up after the end of the Second World War, when millions of young families took advantage of low-cost new developments to gain a foothold in homeownership: the emblematic first step in fulfilling the American Dream.
Today’s first-time local home buyers are a lot less predictable—just as the market itself is …

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