I was sitting in a hospital waiting room yesterday, having just begun to read “Eat Pray Love” in anticipation of spending a full day in that same chair. Two women adjacent to me, who were also waiting for their loved ones to be treated, began a conversation. I continued focus on my reading for another 5 or 10 minutes, until I thought I heard the conversation turn to house selling. Naturally, I stopped reading and started to eavesdrop.
Despite government efforts to help homeowners keep their homes, the foreclosure crisis continues to ravage towns and neighborhoods throughout the country. During the first quarter of this year, the number of real estate properties that received at least one foreclosure filing increased by 16% compared with the same period in 2009, according to RealtyTrac.com, which tracks foreclosure filings nationwide. (That includes homes at all stages of foreclosure, from receiving a Notice of Default which basically kicks off the process, through auction, to becoming Real Estate Owned, or REO, which means the property has been foreclosed on and purchased by the bank).
"The real estate market continues to trundle along, now that the homebuyers tax credit has expired and with it, the rush to sign a contract and qualify for $8,000 of free money. On June 22, the National Association of Realtors announced that existing home sales completed in May were down 2.2% compared with April, confirming expectations that the housing recovery will slowed down once the government’s incentives expire. (There was some good news, though: compared with the same period in 2009, sales were up 19.2%.)
"Looking back at the housing boom is a painful exercise for many homeowners – particularly those who bought at the peak of the real estate market. Who needs another reminder of what was possibly one of the worst financial decisions they ever made?
"At MintLife we strive to make complex financial topics easy-to-understand. Most homeowners are already familiar with the concept of a mortgage. A Reverse Mortgage lets you borrow money against the value of your home without your needing to pay it back until either one of two things happen; either you die or you sell the home. With recent government regulations in place, the Reverse Mortgage is a financial instrument set to explode with the wave of retiring baby boomers. These mortgages not only affect the borrower, but their heirs as well, so it’s important to understand the ins and outs of process and product. The Reverse Mortgage can be a lifesaver for some, but is not for everyone. This factsheet will show you how it works."
"Housing sales have been on the rise thus far in 2009 as confidence in the real estate market rebounds. Though September saw a decline in the median sales price to $174,900 for a single family home, the number of homes sold each month has been steadily increasing. With consumers once again shopping for homes, we look at what the “average” home looks like around the country."
"If there’s one good thing that can come out of a recession it’s that most things become more affordable. During the course correction, there are definitely some bargains to be had and sometimes increasing your bottom line can be as simple as changing your zip code. We’ve used the most recent data from the Bureau of Labor Statistics, from June 2008-June 2009 to create this map, which shows how US cities have been affected by the economic downturn. In all but one of the cities included, the cost of living is down, sometimes significantly so."
"We don’t recommend you try to time the housing market but, if you’re in the market for a new home, it helps to pay attention to its cyclical nature. When times are hard, prices drop and the market becomes more attractive. When more people get in, prices naturally rise. While there are still deals to be had, this map shows that some of the regions that were hit hardest by the housing crisis in 2007 and 2008 have begun to bounce back in early 2009 with increased sales numbers.
"It's been a tough few years for those looking to buy or sell real estate. We thought it would be interesting to look at the numbers to see how the US was doing. Below have a look at the top 10 real estate markets for 2010."
The following is a great picture gallery showing some really amazing examples of conceptual architecture. Enjoy!
"Real estate is a multi-billion industry and it is flourishing. At some point a new architectureal concept requires 3D models that visualize the idea of the architect and the way he sees his creation. Today we are presenting you some Digital Conceptual Architecture examples which look almost real. Architects use a number of applications and techniques to get the desired output. Although the process is very time-consuming, the results can be truly impressive."
I recently read a great article on This Old House listing 10 tips to boost your home's value and wanted to share it with you all. Whether you're preparing your home to sell or are just looking to for ways to increase the value of your largest investment, take a look at these great value boosting tips for your home:
In my new real estate link roundup series, I will be posting ten of the best real estate related articles that I have read every week. From industry news to tips and advice, here are this weeks top articles from around the web. Enjoy!
Shown below is a great informational graphic from mint.com showing the early signs of the real estate recovery:
“The government will tell you that we are coming out of recession and economic recovery is right around the corner. Since the mortgage meltdown could be considered the root cause of the economic downturn, it’s helpful to look at the current housing market to get a sense of whether the recovery is hitting close to home. As prices have continued to drop in cities across the nation, the number of home sales has been increasing in many areas. Especially profound was the dramatic percentage increase year-over-year between Q3 and Q4 in total properties sold. Our latest map may not be able to tell you when to buy and when to sell but it will give you some strong data with which to make an informed decision.”
For a mere £110,000, you could be the owner of the world's smallest house. Dubbed "The Little House" of Toronto, Canada this tiny home measures only 7ft wide and 47ft long. This 312 square-foot home is one of the smallest functioning homes in the world with a surprising list of amenities:
I am proud to announce the launch of my new real estate website. Please feel free to take a look around and use the free resources I have provided to help you with your next home purchase or sale. I also encourage everyone to connect with me through social sites such as my Twitter, LinkedIn, or Facebook profiles. I am always available to answer any of your questions regarding Pittsburgh real estate so please do not hesitate to give me a call or email me.
