Purchases of new homes fell to a new 12 year low ending in Dec of last year, the biggest annual decline on record. The medium price also dropped last month by 10% from Dec 2006, the biggest decline in 37 years.
These reports may reinforce the concern that falling home values and stricter lending rules will lead to more foreclosures and hurt consumer spending. The Federal Reserve as of late has been making drastic cuts, hopefully these rate cuts will help to avoid a recession.
These numbers may be a blow to the ideal of a … (1 comments)
The following information is not specific to all cities and counties, please contact your own city and county to verify any permit issues.
Selling your house with code violations could be very costly to you the seller. You should inform all prospective buyers in writing of any work that was done to your property without the proper permits. If you don't, the buyer could sue you if something later goes wrong or if the city eventually discovers that the work was done without the proper paperwork and demand that the work … (3 comments)
Building your own home can be difficult, but you can get a decent ball park figure if you have a good idea about the floor plan and materials you want before choosing a contractor.
Construction cost currently average between $95 and $150 per sq foot according to B4UBuild.com a company that provides floor plans and other information for people who are planning to build a new house.
You probable can keep your own costs down near the lower end of the spectrum if you settle for basic building materials, but expenses can quickly soar above $150 or even more than … (2 comments)
Buying properties at auction certainty has its advantages but the pitfalls are plentiful.
Shopping for real estate is always a trial, but buying a property at an auction-whether it's a Foreclosed unit sold by a lender or a new condo offered by a developer comes with a special set of problems.
Auctions are poised to become an alternative to conventional purchase strategies as bargain hunters seek to take advantage of the worst U.S. housing slump in 16 years.
South Florida has become one the most hardest hit areas of the nation, because of the cheap arability on money early in … (2 comments)
In spite of all the bad news reports as of late regarding the nations housing, there is plenty of good news, the most recent of which comes from NAR, the National Association Of Realtors.
Laurence Yun, the chief economist for NAR, has plenty of good news for realtors. At last month's conference. Yun attributed much of today's sub prime mortgage problems to greed. Wall Street wanted the 10-12 percent return that traditional mortgage products yielded as opposed to the smaller returns from more traditional mortgage products. His take on the Wall Street types were that they … (2 comments)
Home prices in 20 Metropolitan areas fell in October by the most in at least Six years, a private survey showed Wednesday.
Property values fell 6.1 percent from October 2006, more that forecast, After dropping 4.9 percent in September, according to the S&P/Case-Shiller Home Price index. The decrease was the biggest since the group started keeping year over year records in 2001. The index has fallen every month this year.
Prices are forecast by the experts to decline even more as the jump in foreclosures And stricter lending rules make it harder for buyers to find financing. These declining values make it harder for … (4 comments)
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New Home Sales Are the Worst since 1995
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