home values: Where are House Prices Actually Headed?
- 05/22/12 11:02 PM
Where Are House Prices Actually Headed? by THE KCM CREW on MAY 22, 2012 We are often asked where we believe home values are headed. To answer this question we want to quote three separate reports that have been published in the last 60 days: the Home Price Expectations Survey (HPES), the Urban Land Institute Real Estate Consensus Forecast (ULI) and the Demand Institute’s Report (DIR): The Shifting Nature of U.S. Housing Demand. Here are their projections:
A slow but steady return is projected by all. … (1 comments)
home values: 3 Questions to Answer if you are Buying a Home
- 04/17/12 12:48 AM
If you are thinking about purchasing a home right now, you are surely getting a lot of advice. And some of that advice is probably negative. Why buy now with prices still falling? Don’t you realize real estate is no longer a good investment? Don’t you know that people who bought six years ago lost their shirt? We understand the concern your friends and family have. However, let’s look at whether or not now is actually the perfect time to buy a home. 3 Questions You Must Answer When Buying a Home If you are thinking about purchasing a home … (0 comments)
home values: Where are Home Prices Headed?
- 01/28/11 01:54 AM
The National Association of Realtors (NAR) has been reporting great news recently. Last week’s Existing Home Sales Report and yesterday’s Pending Sales Report both showed consecutive months of increases in the number of homes sold. Finally, buyers are jumping off the fence and taking advantage of one of the most opportune times to purchase a home in America’s real estate history. With an increase in demand, price appreciation can’t be far behind, can it? Actually, the answer is NO! Prices are not determined by demand alone but in the relationship of demand to available supply. The inventory of homes for sale … (1 comments)
home values: Long Island Home Prices for 2010
- 01/27/11 11:07 AM
House prices for the last three months of 2010 rose in the North Fork and the Hamptons market but fell for the rest of Long Island, according to data released Thursday. Among high-end homes, the median closing price of $730,000 was a jump of 4 percent from a year ago and 17 percent from the preceding quarter, said Prudential Douglas Elliman Real Estate, which commissioned the report. Data show sales fell 5 percent from a year ago, when pent-up demand led to many deals, but rose 15 percent from the preceding quarter. But for what is considered Main Street Long … (0 comments)
home values: Will Your House Be Worth More in the Spring?
- 12/13/10 04:28 AM
Will Your House Be Worth More in the Spring? by The KCM Crew This is a question anyone thinking about selling must ask. Should they sell now or should they wait for the spring? Most years that would be an interesting question. There is a belief that many buyers come out in the spring and, with that increase in demand for housing, prices may appreciate. This year is unlike any year in recent memory. Most experts believe there will be continuing depreciation of home values throughout the next 18 months. As we posted on recently, there may be a window of … (3 comments)
home values: What's Up with Zillow and their Zestimates?
- 11/18/10 02:00 AM
I get asked all the time, “What’s up with Zillow and their Zestimates?” I hear “Zillow said my home is worth …” These numbers are just as often too high as they are too low. It could be off by $10,000 or $100,000 or more. WHY? What people don’t know is that the zestimate is based on the county records of closed sales. In Suffolk County, New York where we do most of our business, these records only containinformation regarding the sale price, the sale date, the buyer and the seller. There is no information on the style, size, age, … (3 comments)
I have been receiving offers to sign up for classes from Appraisal Schools now giving instruction on how to value (or should I say DEvalue) properties affected by the continuing spill. My question is: Are these valuable, well thought out classes with great info OR are they just a way for some companies to profit from this disaster? Why am I getting these offers when I am licensed to do appraisals in New York? … (1 comments)
“We should pay heed to foreclosure activity, which have reached their highest level in at least the last five years. As these homes are put up for sale, we may see some further dampening in home prices.” – S&P Case Shiller Home Price Index 4/27/2010 “We expect the high rates of negative equity and foreclosures to keep national home value appreciation near zero for some time, possibly as long as five years.” - Zillow Real Estate Market Report 5/10/2010 We have made the point several times over … (0 comments)
Keep in mind that these defaults are by those with the ability to pay the monthly mortgage. They are choosing NOT TO, usually because they feel it just doeesn't make any sense to make the payment on an "asset" that is now worth much less than the obligation of the loan. These are people who paid on time last month, but CHOOSE not to pay this or next month. They will either try to sell the property "Short" (for less than they owe and hope the bank will take the loss) or just … (0 comments)
Where Are House Prices Actually Headed? by THE KCM CREW on MAY 22, 2012 
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