Archive for real estate

Home Values

In glomming on to positive news don’t forget to remember your basic math. Median prices have been going up in some areas, down in others. The median is the value that occurs in the middle of everything that has sold. For example, if seven apples have sold for $1, $1.25, $1.5, $1.5, $1.5, $1.75 and $2. The median price would be $1.5. The median value is the middle price, it does not represent the size, quality or type of apple.

In real estate it is important to remember that the median sales price represents the average price of what homes are selling for in a given area. It is not representing the size, condition or value of a home. The median sales price can be offset by foreclosure property that is selling in an area as well as by luxury property that is selling in an area.

The best way to determine the value of your real estate is to get it analyzed by an experienced real estate professional. There are many factors in determining real estate values today and picking an average out of the air could hinder the sale of your home. In today’s real estate market it is more important than ever to price your home appropriately.

January, Shmanuary, Look Ahead When it Comes to Real Estate

The latest real estate headlines for the US are that home sales were down in January, some of these headlines even use the word “plunged”. However, there are a few areas scattered around that managed to buck this trend and no media frenzy can change that. Think about it, is it really a surprise that sales are down in January? January is the coldest month, even if you live in a southern state like Florida, who wants to move in to a new house in January.

Does anyone really feel like shopping in January when they have just completed a major holiday season that began with Thanksgiving at the end of November? Most people are just plain worn out by the time New Year’s Day is over, the last thing they feel like doing in packing up and moving. It is a month to relax and observe.

The original First Time Home Buyer Tax Credit was meant to expire in November and when it got extended and expanded people realized that they had more time to make a decision. January data is showing a dip because people wanted to stop and take a look at what the new year would bring. Now that 2010 is here and people can see that mortgage rates and property values are staying low, housing is bound to show a steady increase in sales and eventually prices as well. Even Warren Buffet appears optimistic, stating that he believes that housing problems will soon be behind us.

Click here to view Warren Buffet’s stance on the economy and real estate as a whole.

Going Green With Your Home

Green homes are becoming more attractive for the environment and the wallet

When it comes to your home going green no longer means painting your house a shade of the color, it means you are taking steps toward improving both the environment and your wallet. In real estate green improvements can mean more energy efficient appliances like refrigerators, stoves, toilets and lighting fixtures to major improvements like adding solar heating, recycled materials and wind energy. Green improvements are not only becoming more popular but they are also becoming more attractive financially due to tax savings and long term cost effectiveness.

Choosing renewable products and making environmentally friendly decisions when it comes to your property can make a big difference. While being green is often a state of mind, for people who dedicate themselves to recycling, turning off lights, and bicycling instead of driving a car, making green improvements in the home has proven to make quite a difference.

For information about green choices for the home click here to read a recent article from Realty Times.

Foreclosure Figures Show Improvement

The feeling is that foreclosures are subsiding. The incredible increase in foreclosure activity that hit the United States hard over the past couple of years was a huge catalyst for falling home prices, as well as a staggering hit to the real estate market as a whole. The decrease in foreclosures for the end of 2009 that has been reported is good news for all. As foreclosures disappear real estate values will be less affected.

The Mortgage Bankers Association reported on Friday that there was a decrease in foreclosure applications for the last quarter of 2009. This was particularly good news considering the fourth quarter typically sees a rise in foreclosures due to heating costs, according to the MBA.

While foreclosures will still be coming the decrease appears to make the problem improving or, at the very least, not getting worse. The nation’s employment numbers need to improve before we are out of the woods but slowly and steadily we are climbing out of the recession and real estate is taking baby steps toward a solid recovery.

Click here to read the full report from the MBA.

Clean Homes Show Better!

Clean Homes Show Better–Five Areas To Scrub to Make Yours Sparkle

by Phoebe Chongchua

So, here’s a question for you.  Would you rather walk into a clean home or a dirty one?  No, it’s not a trick question but it is an important one.  You see, when it comes to selling a home, many people forget how important the answer to that question really is.  Sellers get busy looking for their new home, preparing the kids for a move, packing up their belongings, getting organized for their new life and relocation so much that sometimes their home that’s for sale doesn’t get the TLC that’s needed to push it to the top of the buyers’ must-have list.

It’s not until the home sits on the market for long periods that sellers realize something has to change.  Read more…..

Buying a Home? Research the Neighborhood

It is important to research a neighborhood before purchasing your new home

While many people seem to think that it is not wise to think of your home as an investment, the reality is that your home is an investment. This being said there are some things to keep in mind when setting out to buy a home, the least of which is getting to know the neighborhood you wish to buy in. If you do your research and your homework selecting your home properly can insure more of a return for you when you decide to sell at some point in the future.

Research the neighborhood that you want to live in. Aside from knowing the schools and amenities that are available, take a close look at the property levels. Which streets hold more value? Is one edge of the neighborhood closer to a more upscale neighborhood, is one side close to a less desirable neighborhood? According to Realty Times, less is more. They say purchasing the least in the best neighborhood will give you the greatest return as every time a better house sells your value goes up as well.

While you may not look at your primary residence as an investment, in the long run it may be the best investment you have, so do your research and you will be happier in the long run.

Click here to read buying advice from Realty times.

Current Trends For the Home

Current home trends lean toward a simpler more efficient lifestyle

From wall coverings to energy efficient appliances, trends are set in home remodeling and design just as they are in fashion, entertainment and elsewhere. Realtor Magazine recently published an article on current home trends and, not surprisingly most are geared toward cost effectiveness, energy efficiency or reducing stress. The past few years of enduring a recession and a housing bust have made people want to get down to the basics and live a simpler life and these priorities have filtered into the home.

Current trends in home design include neutral colors, like white and beige, which are more calming than bright vibrant colors. Energy efficient appliances like refrigerators and cook tops are also being used more frequently as they are better for the environment and, in the long run, the wallet. In order to keep the calm people are also adding relaxation rooms to their homes, whether they be complete spa rooms or a simple massage chair. A designated place to unwind helps erase stress and add to home’s value at the same time.

Click here for a complete look at current home trends.

Relocating with the Right Realtor

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Relocating can be much easier with the right Realtor

Moving to a new home can be quite an ordeal, whether you are moving within the same area or across the country. To make a complicated and often stressful situation easier choosing a qualified and experienced real estate broker can make all the difference.
A qualified Realtor can:

  • Help you locate the best neighborhood to suit you and your family’s needs. He will know the area and will match it with your considerations and needs.
  • Help you settle in faster by matching your interests and hobbies with the appropriate groups. He will also point you toward the right doctors, schools and professional areas that will set you out on the right foot.
  • Will have the answers to your questions. He will have survived relocation many times with many people and have the answers you are looking for.

Keep in mind that choosing a Realtor with a solid reputation, a track record behind him and the knowledge you need to not only succeed in your real estate transaction but adjust to your new surroundings will make your entire move run much more smoothly. Do your homework and the real estate broker you choose will do the homework on your new environment.

It’s a Buyer’s Market When It Comes to Real Estate

It is a buyer’s market when it comes to real estate. It is not the best time to be a seller, but to be a buyer the conditions could not be better. Low interest rates, home values and inventory all point to buy, buy, buy. The only thing standing in the way is money, but if people can get money and they are in the right place at the right time, buying real estate is a great idea.

If the real estate market were a car the first time home buyer would be in the driver’s seat. Not only to first time home buyers get to take advantage of low mortgage rates, low home values, and a decent inventory of homes for sale, but they also don’t have to sell a home before they buy a home.

There may not be a better time to be a home buyer, especially a first time home buyer, for a long time. The first part of 2010 displays ideal conditions to get out there and start looking.

Intelligent Remodeling & Renovating

Large View

Remodeling and renovating homes should be evaluated more closely than in the past, with an eye on what kind of return your investment will give to you. If your remodel/renovation is strictly for you, you plan on staying in your home for many years to come and you have the money to make your improvements, by all means go ahead and knock yourself out. If, however, you are looking at your home improvements as a way to maintain or improve your home’s value, do some research and evaluate whether you will get the return you need or expect to get when you sell.

Here are some things to keep in mind:

  • Stay on par with your neighbors. Having the best house on the block might be nice if you are the type of person who likes to one-up everyone but it certainly won’t give you the most bang for your buck. Your home is typically as valuable as other comparably sized homes around you.
  • Ascertain your home’s condition. Today’s home buyer does not want to spend a lot of money fixing up needed repairs like a leaky roof and broken windows. Keep on top of the shape that your home is in and make it clear that the home is well taken care of.
  • If you are making upgrades to your home see if they can be energy efficient upgrades. Not only will you get a tax break but you will probably save money in the long run as well.

There are many remodeling and renovating items that you can choose to do that are cost-effective and attractive to future home buyers. For a recent article from Money that touches on the subject of remodeling and renovating click here.

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