selling a home summit nj: The Real Estate Litmus Test – “OLP / SP”
- 10/22/08 08:34 AM
"My Home Won't Sell Because the Economy is Bad Right Now!!!" Anyone in the real estate market who has recently spoken with a seller has probably heard those words. Some Realtors may even agree with their seller because more then likely the agent doesn't know any better. I am not one of those Realtors. In fact, when I hear, "the sky is falling", I cannot help but laugh. Now before you write me off as an unsympathetic Realtor who will always praise the market, take a step back and listen to reality. I work in the Summit, NJ market. Summit, like … (3 comments)
selling a home summit nj: Summit, NJ - Positive Signs in the Real Estate Market
- 03/18/08 09:49 AM
Recent Quotes about the Positive Signs in the Real Estate Market: The Time is Right for First-Time Homebuyers Generally, homes are becoming more affordable, and mortgage rates -- though somewhat volatile over recent weeks -- are still relatively low. "This is one of the best times that a first-time home buyer has had in a long, long time. (First time buyers should) get qualified and go to a Realtor ... and then ask the questions 'What if the property drops,' and 'What if the rates go up?' The cost of capital is important to look at. It's possible that even if prices do … (0 comments)
selling a home summit nj: Summit, NJ - Positive Signs in the Real Estate Market
- 03/06/08 02:38 PM
Recent Quotes about the Positive Signs in the Real Estate Market: President Bush Signs Economic Stimulus Bill; Raises Loan Limits Homeowners and buyers in such high-cost states as California, New York and Florida will get an extra break from the federal stimulus package: lower interest rates for so-called jumbo mortgages. Under the new rule, FHA can insure loans for up to 125% of the median home price, which means $729,500 in the costliest communities. "I tell my sellers that have homes on the market over $417,000 that this will bring more buyers back into the market." -- Lisa Gregory, a real estate agent in … (0 comments)
selling a home summit nj: Summit, NJ Buyers - Pay Attention to Interest Rates!!!
- 03/06/08 02:33 PM
Special Edition - The Effect of Mortgage Rate Reductions on Buying Power: The recent interest rate cuts and subsequent reductions in mortgage rates have significantly improved potential home buyers' ability to afford a home. •Ø The impact of a 1% reduction in interest rates on a $250,000 home (assuming the buyer used the same down payment): •o With 80% financing, a buyer could purchase a home that cost 9% more •o With 60% financing, a buyer could purchase a home that cost 7% more •Ø The impact of a 1.5% reduction in interest rates on a $250,000 home (assuming the buyer used the … (0 comments)
selling a home summit nj: Summit, NJ - Positive Signs in the Real Estate Market
- 03/06/08 02:10 PM
Recent Quotes about the Positive Signs in the Real Estate Market: Mortgage Applications Rise to Highest Level Since 2004 Applications for home mortgages jumped to their highest level in nearly four years as low interest rates led more homeowners to seek refinancing. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity rose 7.5 percent to 1,054.9 in the week ended January 25; its highest level since March 2004. -- "Mortgage Applications Near 4-year High," Reuters, Jan. 30, 2008. Economic Stimulus Plan Will Help Housing The economic stimulus plan announced by Congress and the Bush administration includes provisions that specifically address the mortgage … (1 comments)
Mortgage Applications Up & Rates Down The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended Jan. 11 surged 28.4% to 906.4, its highest since the week ended April 2, 2004. "When consumers see an opportunity, no matter how pessimistic they might be, they take it. It will improve the underlying state of the industry and the longer rates stay down, the more people will take advantage of the opportunity, so that is a good thing." -- Douglas Duncan, chief … (0 comments)
selling a home summit nj: Summit, NJ - Positive Signs in the Real Estate Market
- 03/06/08 01:58 PM
Recent Quotes about the Positive Signs in the Real Estate Market: Silver Lining for Real Estate in '08 •Ø In his outlook for 2008, Laurence Yun, the chief economist for National Association of Realtors®, sees a shift from greedy speculators to serious homeowners. 2008 will be a year of opportunity where there will be serious, healthy business. Furthermore, Yun predicted that the market returns to normal by 2009. •Ø According to Yun, one of the biggest mistakes that reporters make is talking about national trends. Nationally, 2007 was the fifth best year ever on record. Home prices declined about 1.5 percent after a … (2 comments)
selling a home summit nj: Summit, NJ - Positive Signs in the Real Estate Market
- 02/04/08 05:24 AM
Recent Quotes about the Positive Signs in the Real Estate Market: Buyers Waiting on the Sidelines Need to Get in the Game •Ø People willing to hold properties for a long time could be well served by starting to look at potential purchases now, because over the long term home appreciation usually pays off. •Ø Despite the recent declines in the market, national home prices are up 80.5% over the first quarter of 2001. •Ø One reason potential buyers may want to act quickly: Historically, when home prices fall, they don't fall for long. •Ø "If we go back to 1990, 1991 and 1992 … (3 comments)
selling a home summit nj: Regional Real Estate Update from Markets Around the Nation
- 02/04/08 05:18 AM
Regional Real Estate: Good News From Several Markets Around the Country New York City "There are reasons to be excited about 2008. There is lots of buzz about the phenomenal success and architectural wonder of new residential projects in Manhattan and Brooklyn. Plenty of people will have big bonuses to spend and with the weak dollar we'll see continued strong interest in New York real estate from overseas." -- Pamela Liebman, president and CEO of The Corcoran Group, "Corcoran CEO Loves the Art of the Deal," Inman News (subscription required), Dec. 4, 2007. Albuquerque, N.M. Strong job growth in (New Mexico's) largest city drives wages and … (0 comments)
selling a home summit nj: Summit, NJ - Positive Signs in the Real Estate Market
- 02/04/08 05:07 AM
Recent Quotes about the Positive Signs in the Real Estate Market: Helping Homebuyers and Sellers Navigate the Market •Ø "What consumers see in the newspapers and online is based on the view of the national market from 50,000 feet. Those numbers don't reflect the true story in any single marketplace." •Ø "We have to get localized and start showing consumers that real people just like them are successfully buying and selling homes in this market. The price range has nothing to do with it; it's all relative to what you do with it." •Ø "For the people that have been in their homes for … (0 comments)
selling a home summit nj: Regional Real Estate Update from Markets Around the Nation
- 02/04/08 05:03 AM
Regional Real Estate: Good News From Several Markets Around the Country What Bubble? Top 10 Cities Where Home Prices are Rising Here are the top 10 cities where home prices are rising, the median home price and how much prices have risen in the last year, according to Forbes magazine. Click here for a slideshow. •1. Salt Lake City, Utah $233,100 +21.9% •2. Binghamton, N.Y. $111,200 +19.8% •3. Salem, Ore. $227,900 +16.7% •4. Farmington, N.M. $201,900 +14.0% •5. Allentown-Bethlehem-Easton, Pa.-N.J. $274,500 +12.8% •6. Beaumont-Port Arthur, Texas $127,700 +11.8% •7. Reading, Pa. $157,800 +11.2% •8. Glens Falls, N.Y. $175,700 +10.7% •9. Spokane, Wash. $197,700 +10.4% •10. … (1 comments)
selling a home summit nj: Summit, NJ - Positive Signs in the Real Estate Market
- 02/04/08 04:56 AM
Silver Lining for Real Estate in '08 •Ø In his outlook for 2008, Laurence Yun, the chief economist for National Association of Realtors®, sees a shift from greedy speculators to serious homeowners. 2008 will be a year of opportunity where there will be serious, healthy business. Furthermore, Yun predicted that the market returns to normal by 2009. •Ø According to Yun, one of the biggest mistakes that reporters make is talking about national trends. Nationally, 2007 was the fifth best year ever on record. Home prices declined about 1.5 percent after a 50 percent run up in prices. •Ø 2008 represents the … (1 comments)
"My Home Won't Sell Because the Economy is Bad Right Now!!!"
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