house buying: Time For Home Buyers to Act Before It's Too Late - 12/14/09 12:56 AM
How does one really know when to buy or sell real estate? There are many factors involved, and without a crystal ball, you can't be 100% certain! Every day, the media publicizes a lot of confusing information, and it is very difficult for the average person to know what it really means.We all know that during all of 2009 and most of 2008, in most areas of the country, housing prices have fallen, in most areas by more than 20% since the height of the market. However, many people tend to forget that the real estate market has experienced these down … (1 comments)

house buying: Housing News Updated & Evaluated - 11/24/09 02:29 AM
The most recent housing report showed that sales for October 2009 were up 10.1% over October 2008. While that is certainly promising news, it must be considered in light of a few factors. The first factor was, of course, that October 2008 numbers were so dismal that even with an increase, there is plenty of room for improvement. Then, we must remember that some closings last month occurred as a result of the First Time Housing Credit, and the uncertainty at that time over whether it would be extended (remember it was originally set to expire at end of November). The … (2 comments)

house buying: STAY VIGILANT RE HOME BUYING CREDIT EXTENSION! - 11/03/09 01:49 AM
Ever since Senator Reid's office announced that the Senate would be extending and enhancing the 1st Time Homebuyers Credit, there has been much less "buzz" around stating the urgency of doing that. My fear is that we are being lulled into apathy and the "it's going to happen" mode, while politicians play typical political games. The present credit is scheduled to expire November 30th, and we are already entering into the traditional slow season for real estate (just what we need on top of the present real estate reality). The market and the economy needs further jump starting, and this credit … (0 comments)

house buying: HOUSING MARKET UPDATE - 10/27/09 03:13 AM
According to data released today, housing sales have now risen in the US for three months in a row. Home prices in most areas have also stopped their decline, and in most areas are nudging upward. Many factors are probably responsible for this including: the 1st time buyers credit; low mortgage interest rates; polls showing slight improvement in consumer confidence regarding the economy; economic projections for the worst of the recession to be ending in either the 1st or 2nd quarter of 2010; a slight increase in availability of mortgage money; an improvement in stock market performance; etc.
However, not all … (1 comments)

house buying: HOUSING SALES - 10/27/09 02:15 AM
According to data released today, housing sales have now risen in the US for three months in a row. Home prices in most areas have also stopped their decline, and in most areas are nudging upward. Many factors are probably responsible for this including: the 1st time buyers credit; low mortgage interest rates; polls showing slight improvement in consumer confidence regarding the economy; economic projections for the worst of the recession to be ending in either the 1st or 2nd quarter of 2010; a slight increase in availability of mortgage money; an improvement in stock market performance; etc.
However, not all … (1 comments)

house buying: MORE PEOPLE ARE BEGINNING TO LOOK - 09/25/09 02:32 AM
Are we near the end of this chapter of the "extreme buyers market?" Over the last few months, the number of people looking at houses listed on the market has gradually, but consistently increased. Many are only shoppers, trying to find out how much the market price of homes have decreased. But many others are beginning to seriously consider purchasing a house.
They realize that mortgage interest rates are still quite low, and probably will NOT remain that way for long. They realize that the First Time Buyers credit is scheduled to end at the end of November, and that to … (0 comments)

house buying: IF THE RECESSION IS OVER, WILL THE HOUSING MARKET FOLLOW? - 09/17/09 03:40 AM
For the last two years, all we have heard was how bad things are! Obviously, if buyers hear that all the time, they will react accordingly. So if we now believe what we are hearing, that the economy is improving, and that recession should soon be over, then how will that be communicated to buyers, to create that buying urge once again?
When will fear be over, and a balanced market once again be restored? I have NEVER seen anyone that can absolutely"time" the bottom of a market, but all indications is that we are certainly getting close to that point. … (2 comments)

house buying: HAVE WE HIT BOTTOM YET? - 09/16/09 03:10 AM
Fed Chairman Bernake recently says he believed that the recession is nearly over. Mortgage interest rates have seemed to level, and most believe that rates are as low as they are going to go. More buyers are looking at houses again, but they are VERY slow to act. There is still NO sense of urgency. Housing prices have dropped dramatically from their highs a few years ago, and so have rents. There is an abudance of apartments available - - - more than in years!
Are we at the absolute bottom? Probably not, since unemployment is still very high. However, historically … (1 comments)

house buying: DATA ONLY TELLS PART OF THE STORY - 09/11/09 04:06 AM
Real estate data can be very misleading! When you hear that house prices are up or down, what is that compared to? Is it compared to last month, six months ago, a year ago, two years ago, when the market was at it's peak! The same is true with housing starts figures, home sales, etc.
The best way to analyze the situation is, if you had the money, would you buy something, sell something, hold on, or panic? That is the same strategy that any financial planner would tell you to follow regarding any investment. And for most people, their home … (2 comments)

house buying: HAVE WE REACHED THAT BUYING OPPORTUNITY? - 09/09/09 02:57 AM
Mortgage rates are still  close to their historic lows! People with decent credit and 20% down can finally qualify again! First time buyers have until November 30th to close on a house, to still get the $8,000 tax credit! Prices have come down significantly, and their are plenty of choices!
 
So we should all agree that we have finally reached a classic BUYERS MARKET! Most experts believe house prices are at or near their lows! Then, why aren't more people taking advantage of this? My best guess is that it is FEAR, and not feeling comfortable with the overall U.S. … (2 comments)

 

Richard Brody

Port Washington, NY

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