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News, trends, and my opinion about the local real estate market in the Greater Philadelphia area.
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Thinking about buying and a home on the cheap and flipping it for big profits? That dream is all but dead as sales of homes to investors have dropped by more than half over the past five years, according to CNNMoney.com . Plus, the number of those investors Read More...
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Many people do not know that short sales stand a much better chance of approval as oppossed to a loan modification. However, there are a variation of outcomes that can occur. Mainly, the inconsistency involves how the lender deals with the deficiency. Read More...
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Most of the news about the housing market lately has been dismal. However, the one bright spot is being overlooked by many - the rental market. Rental demand is up and and rental rates are rising. Many foreclosures victims (estimated north of 4 million) Read More...
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Here is a great blog post from my Coach, Carl Rizzuto: More Americans are getting back to work. The latest Non-Farm Payrolls survey from the Bureau of Labor Statistics shows that 117,000 net new jobs were created in July, thumping analyst estimates and Read More...
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Everyone is very concerned about the debt rating downgrade right now. However, the economy is the main driver for current housing market conditions. Greg McBridge, senior financial analyst at Bankrate.com , says that "as long as the economy continues Read More...
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Home prices have continued to drop during the first quarter of 2011, dropping 4.6% from a year earlier according to CNNMoney.com and the National Association of Realtors. Condo prices fell ever harder by a rate of 10.4%. The main cause for this decline Read More...
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According to Kathleen Howley at Bloomberg Businessweek , the most affordable real estate in a generation is failing to lure buyers as some Americans are souring on the idea of home ownership. At the end of 2010, the share of people who said a home was Read More...
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Rates on fixed mortgages dipped for the second straight week as Treasury yields fell, as reported by MSNBC.com and the Associated Press . Freddie Mac said Thursday that the average rate on a 30-year mortgage dropped to 4.71% from 4.77% during the previous Read More...
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Ali Velshi, CNN chief business correspondent, believes that if a prospective Buyer has good credit and 20% to put down, it is a great time to buy according to CNNMoney .com. Velshi feels that this has been the case all year and that we are probably closer Read More...
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U.S home prices fell 2% in the third quarter according to CNNMoney.com . The S&P Case-Schiller Home Price INdex has recorded gains in four of the previous five quarters, including a 4.7% jump between April and June 2010. This leaves national home Read More...
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According the the Associated Press and MSNBC.com , unemployment dropped in 23 states and Washington D.C. However, the unemployment rate rose in 11 states and remained unchanged in 16 per Labor Department statistics. The declines were nearly double the Read More...
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Beautiful end unit carriage home in Whiteland Woods is being offered at $374,900! Located on a premium lot and backs to wood! Nearly 2,500 SF. Address is 256 Torrey Pine Court, West Chester, PA 19380. Check out my Featured Listings section for pictures Read More...
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Many people are getting sick of the doom and gloom surrounding the real estate markets right now (I am one of them). The consumers and media tend to forget about all of the great reasons to buy a property. Brett Arends of The Wall Street Journal wrote Read More...
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According to the National Association of Realtors (NAR), existing homes sales (defined as completed transactions that include single family homes, condos, townhomes and co-ops) dropped 27.2% to a seasonally adjusted annual rate of 3.83 million units in Read More...
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According to CNNMoney.com , 21.5% of mortgages are currently under water in the 3rd quarter of 2010, which is an improvement from the previous quarter when an estimated 23.3% of loans were under water. There are a few reasons for this improvement, including Read More...
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