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5 Common Mortgage Mistakes - 05/13/11 05:35 PM
5 Common Mortgage Mistakes
Source: U.S. News & World Report | May 11, 2011
It's baffling that people spend more time researching a vacation or a car purchase than they do shopping for a mortgage, but they do. A recent mortgage survey conducted by Zillow Mortgage Marketplace concluded that nearly half of prospective home buyers don't understand essential mortgage information. If you need a mortgage and don't like throwing away your hard-earned money, learn from these common mistakes. [Read this article]
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5 Uncommon Ways To Raise Your Credit Score - 05/13/11 05:34 PM
5 Uncommon Ways To Raise Your Credit Score
Source: Bankrate.com | May 11, 2011
When it comes to cultivating a credit score, you've probably got the good citizen routine down cold. You pay on time, try to wipe out the entire balance every month and never close too many accounts at once. Beyond the basics, though, many consumers are still in the dark about what makes their credit scores go up and down. Consumers understand that the credit utilization ratio - the total amount of revolving credit someone uses in a month, compared to the amount of available credit they have … (0 comments)
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New Grads See Signs Of Hope - 05/13/11 05:33 PM
New Grads See Signs Of Hope
Source: CNN | May 11, 2011
Of all the parties the class of 2011 will be attending in honor of their graduation this spring, a pity party probably won't be one of them. That's because, after three years of dismal hiring and salary reports for new college grads, things are finally looking up this year. "Employers are more optimistic overall, and as a result, are looking to bring in entry-level workers to build their workforce for the future," says Brent Rasmussen, president of CareerBuilder North America. "Companies are adding jobs in a variety of areas … (0 comments)
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10 Cities Where Rents Are Rising The Most - 05/13/11 05:32 PM
10 Cities Where Rents Are Rising The Most
Source: U.S. News & World Report | May 11, 2011
It's not usually welcome news when the landlord hikes your rent. But a surge in rents this year represents a counterintuitive bit of good news for the economy and perhaps even for the beleaguered housing market. Like home prices, rents fell nearly everywhere during the recession, as millions of people moved in with parents or found roommates to cut their housing costs. But with the gradual improvement in the job market and the overall economy, grown kids are finally waving goodbye to their … (0 comments)
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Top 5 Housing Markets On The Rise - 05/13/11 05:31 PM
Top 5 Housing Markets On The Rise
Source: Bankrate.com | May 11, 2011
House prices went up in nearly one-quarter of metropolitan markets from the beginning of 2010 to the first quarter of 2011. The median price of homes sold in the U.S. in the first three months of this year was 4.6 percent lower than in the first quarter of 2010, according to the National Association of Realtors' quarterly survey. But the good news is the lower prices have contributed to an increase in the volume of homes being sold. Total home sales, including single family homes and condos, increased … (0 comments)
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Statewide Real Estate Stats Indicate Economic Recovery In Texas - 05/13/11 05:30 PM
Statewide Real Estate Stats Indicate Economic Recovery In Texas
Source: National Mortgage Professional Magazine | May 13, 2011
Texas homes are continuing to maintain their value in the first quarter of 2011 despite a decrease in sales volume, indicating that the economic recovery continues in Texas. "While Texas has not been untouched by the recent economic downturn as indicated by the decrease in sales, it is encouraging to see home prices hold their value in the first quarter," said Dwight Hale, chairman of the Texas Association of Realtors, in the association's latest Texas Quarterly Housing Report. For the period of January through … (0 comments)
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Buy vs. Rent: These Days, Buying Wins - 05/13/11 05:28 PM
Buy vs. Rent: These Days, Buying Wins
Source: CNN Money | May 13, 2011
For the first time in years, buying a home may beat renting. Two factors are at play, according to researchers who recently crunched the numbers, Ken Johnson of Florida International University and Eli Beracha of East Carolina University for a paper to be published in Real Estate Economics. First, rents, though mostly stagnant the past few years, are expected to head higher as more people bitten by the housing bust turn to renting. Rents could rise 7% in each of the next two years, according to Peggy … (0 comments)
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6 Mistakes To Avoid While Selling Your Home - 05/07/11 11:05 PM
6 Mistakes To Avoid While Selling Your Home
Source: U.S. News & World Report | April 29, 2011
While the real estate market downturn has benefited buyers, it's made selling a home much more stressful. It's common for a home to remain on the market for months before a sale. More often than not the home's listing price is reduced due to a large amount of foreclosures on the local market, which have listing prices below median home values. According to Zillow Real Estate Market Reports, 37 percent of homes sold for a loss in February 2011. As spring and summer … (2 comments)
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Your Home: How To Sell In Tough Times - 05/07/11 11:03 PM
Your Home: How To Sell In Tough Times
Source: CNN Money | May 2, 2011
If you're in the market to sell your home, you probably feel you can't catch a break. Put part of the blame on stiff competition: Foreclosures and short sales, which accounted for 39% of sales in February, sell for about 15% less than conventional homes. Fortunately, there is one glimmer of good news. Bargain hunters, too, know that home prices are down some 32% from their peak. In a recent CNNMoney survey, three-quarters said that it was a good time to buy a home. But translating … (1 comments)
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10 Tips For Surviving The Housing Market - 05/07/11 11:02 PM
10 Tips For Surviving The Housing Market
Source: CNBC | April 29, 2011
It's a buyer's market and by many projections, it won't shift to a seller's market for a good year or more. So, how do homeowners, who have most of their equity in depressed real estate, slog through until it becomes a seller's market? Here are 10 tips from real-estate moguls who have survived several housing-market downturns. Homeowners should be very encouraged by the fact that home buyer sentiment has improved. "The mood has definitely changed...buyers are feeling more positive," said Barbara Corcoran, the founder and former president of … (3 comments)
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Job Market Shows Signs Of Slow Growth - 05/07/11 11:00 PM
Job Market Shows Signs Of Slow Growth
Source: CNN Money | May 4, 2011
The labor market is showing signs of slow improvement: private sector employers added 179,000 positions in April and the number of planned job cuts fell, according to two reports released Wednesday. Payroll processing company ADP said private sector payrolls grew by 179,000 in April, after a upwardly revised 207,000 increase in March. Smaller businesses led the charge in April. Medium-size businesses, defined as those with between 50 and 499 workers, and small businesses, defined as those with fewer than 50 workers, each added 84,000 jobs in the … (1 comments)
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10 Major Cities Where Buying Beats Renting - 05/07/11 10:56 PM
10 Major Cities Where Buying Beats Renting
Source: U.S. News & World Report | May 3, 2011
Experts say the housing market can't get much better for would-be home buyers this spring. Buying is now more affordable than renting in nearly four out of five cities, according to the quarterly Rent vs. Buy Index released by online real estate resource Trulia. Mix in attractive mortgage rates luring house hunters, and experts expect to see some life restored to the flat-lining housing market this spring. Here's a look at 10 major cities where it might be smarter to buy than rent. [Read … (2 comments)
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Buying Beats Renting In 80% Of U.S. Cities - 05/07/11 10:52 PM
Buying Beats Renting In 80% Of U.S. Cities
Source: U.S. News & World Report | May 3, 2011
Thanks to falling home prices and rising rents, would-be home buyers have the upper hand this house-hunting season. In nearly 4 out of 5 major U.S. cities, it's now cheaper to buy a home than to rent. That's up from 72 percent of cities last quarter, based on the Rent vs. Buy Index released by online real estate resource Trulia. "The decision between renting and buying a home across most of the country has clearly moved in favor of buying," said Ken Shuman, … (1 comments)
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Las Vegas Home Sales Hit Five-Year High In March - 05/07/11 10:49 PM
Las Vegas Home Sales Hit Five-Year High In March
Source: Housing Wire | May 4, 2011
Las Vegas area home sales rose in March from a year earlier, when the homebuyer tax credit was in place, to a five-year high. Almost 5,000 homes sold in the Las Vegas metro area during the month, the highest volume since March 2006, according to DataQuick. Sales were up a staggering 27.3% compared to the month prior and up 1.6% compared to a year earlier. The research firm said that "unusually strong" demand came in the distressed properties sector, as activity among investors, cash buyers … (0 comments)
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Foreclosure Supply Numbers Point To Recovery In Texas - 05/07/11 10:47 PM
Foreclosure Supply Numbers Point To Recovery In Texas
Source: DS News | May 4, 2011
Texas continues to perform noticeably better than other states in the real estate market, local Realtors say, by avoiding an excess supply of foreclosures and other distressed properties. "Texas is still performing considerably better than other states in terms of maintaining balance between home inventory and demand," said Jim Gaines, Ph.D., of Texas A&M University. "Combined with the fact that Texas has maintained strong property values, this indicates that the market is absorbing foreclosed and other distressed properties without experiencing harmful excess supply," Gaines explained. According … (0 comments)
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Miami Housing Market, Like Miami Heat, Are Enjoying A Winning Streak - 05/07/11 10:46 PM
Miami Housing Market, Like Miami Heat, Are Enjoying A Winning Streak
Source: World Property Channel | May 4, 2011
Based on a new Miami Market Report released this week by Douglas Elliman Florida, South Florida's largest housing market enjoyed a significant increase in sales in the first quarter of 2011. According to a recent on-air CNBC interview, Starwood Capital CEO Barry Sternlicht stated, "The Miami housing market is on fire; driven mainly from foreign buyers of which over half are coming from Brazil. Barbara Lamar of Miami-based One Sotheby's International Realty said, "Sales are brisk in Miami due to a number … (0 comments)
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Reduce Gas The Easy Way: Try ‘Bike To Work And School’ Month - 05/07/11 10:43 PM
Reduce Gas The Easy Way: Try ‘Bike To Work And School' Month
Source: Wallet Pop | May 4, 2011
With gas up to a national average of $3.97 for the first week in May, it's getting hard not to panic about gas prices. The rising prices are enough to get people to do drastic things - like give up your car and switch to a bike. National Bike Month is a celebration that, coupled with the Bike to Work and School Day, has morphed into Walk and Bike to School Month. If you choose to do it for just one day, … (2 comments)
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Demand For Green Building Materials To Grow 13% Annually Through 2015 - 05/07/11 10:39 PM
Demand For Green Building Materials To Grow 13% Annually Through 2015
Source: Builder | May 4, 2011
Demand for green building products - buoyed by increased availability, environmental concerns, stricter building codes, and a rebounding construction industry - is expected to increase by 13% annually to create a $71 billion market in 2015, states to a forecast by the Freedonia Group, a Cleveland-based research firm. According to the study, concrete made from recycled materials is expected to soar by 24% annually between 2010 and 2015. Meanwhile, green floor coverings, which include Green Label Plus-certified carpets and products made from fast-growing natural resources … (0 comments)
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5 Housing Trends In Spring 2011 - 05/07/11 10:37 PM
5 Housing Trends In Spring 2011
Source: Bankrate.com | May 4, 2011
Is a housing recovery in the cards this spring? It's hard to know for sure. But if you plan to buy or sell your home in the coming months, here are five trends you should watch. Borrowers who want a bigger loan to buy a home or refinance an existing mortgage may need to act soon to avoid higher costs from lower mortgage limits. These lower limits mean borrowers will pay more in down payments or interest rates because they won't qualify for Fannie Mae, Freddie Mac or FHA … (0 comments)
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Widespread Credit Growth Seen In Latest Equifax Monthly Report - 05/07/11 10:35 PM
Widespread Credit Growth Seen In Latest Equifax Monthly Report
Source: National Mortgage Professional Magazine | May 4, 2011
Multiple portfolio metrics indicate that the U.S. credit market is stabilizing and is growing - according to Equifax's monthly National Credit Trends Report for March 2011. The most recent trend data indicates that sustained new credit growth is underway within a number of markets, with year-over-year increases in the number of home equity loans (a nine percent increase), auto (a 23 percent increase), bankcard (a 14 percent increase) and consumer finance (a five percent increase). According the report by Equifax, consumers continue to more consistently pay credit bills … (0 comments)
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Strong April Is Retailers’ Easter Present - 05/07/11 10:34 PM
Strong April Is Retailers' Easter Present
Source: Associated Press | May 5, 2011
Retailers reported surging April sales that were helped by a late Easter, extending strong spending momentum since late last year. However, some stores that cater to low-income shoppers are starting to warn that their customers are facing increasing pressure from high gas prices. "The Easter bunny delivered the goods. It showed that the consumer was resilient and sales were better than expected despite some growing headwinds," said Ken Perkins, president of RetailMetrics LLC, a research firm. Overall, revenue at major retailers soared a better-than-expected 8.5 percent last month … (0 comments)
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Why Companies Are About To Start Hiring - 05/07/11 10:31 PM
Why Companies Are About To Start Hiring
Source: Forbes | May 6, 2011
The bright spot in a drab employment picture is that workers have been stretched so thin during the past couple years that companies are going to have to (gasp!) hire more. The hiring picture is improving largely because the productivity gains that drove the profit rebound and the rip-roaring stock market rally of the past two years are petering out. Hourly economic output rose at a 1.3% clip over the past 12 months, says Paul Ashworth of Capital Economics - down from 6.7% in the previous year. While … (0 comments)
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Mortgage Delinquencies Post Big Drop In March - 05/07/11 10:30 PM
Mortgage Delinquencies Post Big Drop In March
Source: The Wall Street Journal | May 6, 2011
Mortgage delinquencies fell by 12% in March, the biggest monthly drop since the housing bust began, to the lowest level since 2008, according to LPS Applied Analytics. The improvement has been driven by declines in the number of newly delinquent loans. In March, there were 1.5 million loans that were 30 days past due, down from 1.8 million in January. The share of loans that were seriously delinquent in March after being current six months earlier fell to its lowest level since 2008. Those loans … (0 comments)
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April Jobs Report: Hiring Picks Up Steam - 05/07/11 10:28 PM
April Jobs Report: Hiring Picks Up Steam
Source: CNN Money | May 6, 2011
The jobs recovery picked up speed in April, as business payrolls swelled and the unemployment rate rose as more people returned to the workforce. The economy added 244,000 jobs in the month, the Labor Department reported Friday. That's up from the 221,000 jobs gained in March. Economists were expecting a slight slowdown to a gain of just 185,000 jobs. Job growth has been strong since the beginning of the year, with 768,000 jobs added since January. And Friday's report also showed that 46,000 more jobs were added … (0 comments)
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Market Climate Warms For House Hunters - 05/07/11 10:26 PM
Market Climate Warms For House Hunters
Source: Chicago Tribune | May 6, 2011
Traditionally, spring is when prospective homebuyers come out of hibernation and begin the hunt for their next residence. But with the economy still in flux, many house hunters are wondering whether it is the right time to buy. Some experts say the worst of the housing slump is over. "I'm hopeful the spring will be better, because the job market is improving," said Celia Chen, senior director at Moody's Analytics, who expects housing prices to bottom out nationally by the third quarter. Despite the uncertainty surrounding the housing … (0 comments)
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Ron Gersch
Joliet,
IL
More about me…
Remax of Joliet
Address: Joliet, IL, 60431
Office Phone: (815) 405-2401
Email Me
I have been a Realtor for 22 years, selling homes primarily in Will County of Illinois. I enjoy posting housing articles as well as articles on the economy. The homes I post are HUD properties.
To view all HUD properties available in the state, please visit: www.hudhomestore.com. For more information, please visit: www.hudpemco.com.
I am more than happy to help you and answer any questions you may have in regards to access HUD homes, and the home buying process.
Have a great day.
Sincerely, Ron Gersch
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