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Posts Tagged ‘house prices’

6 Reasons 2013 is a Home Sellers Market

Wednesday, January 23, 2013 posted by Tommi Crow

Prices for existing homes rose another 7.7% in the month of December.  For our customers who have been patiently waiting for the market to favor sellers, instead of buyers…the tables have finally turned. 

Why is the housing inventory so low in 2013?

The Wall Street Journal writes a good article on this, pointing to six reasons:

1. Many homeowners are underwater, and thus can’t sell.
2. Homeowners with equity in their home don’t have enough of it to “trade up” to buy a bigger and more expensive  home.
3. Everyone wants to buy at the bottom, but few want to sell when they feel their home will be worth more next year.
4. Investors – from mom and pop and corporate investors have come out and become landlords, taking property that normally would be on the market into the rental realm.
5. With the foreclosure fiasco, banks have been slower at foreclosing homes.
6. There’s been a lot less construction of new homes by home builders.

What does this mean for home sellers?

1.   Advertising your property on the MLS and Realtor.com has never been more crucial to reach qualified home buyers.  Realtors and homebuyers are searching for new listings, daily, because there is nothing on the market that fits their needs.  If your home does not appear in these real estate search engines, chances are that no one will ever know your home is for sale and you will miss your window of opportunity.

2.   Holding an Open House on the weekend is a great way to get people who see your listing online  into your home for an actual showing.

3.  Place a FREE listing on InfoTube.net.  InfoTube is visited by thousands of people daily who are looking for “by owner” property.

4.  The homes that are flying off the market are the properties in the best condition, location and they are priced right, ready to sell.  Homebuyers will not look at a house that is overpriced, hoping to negotiate back and forth.  They are buying homes that are reasonable to purchase and are ready to move into.

5.  Keep your InfoTubes and InfoBoxes full of flyers.  We receive calls from buyers everyday who want more information, but the container is empty.  Be sure to keep a back stock of brochures on hand in time of high traffic.

Home sellers should act quickly to take advantage of the present market conditions because they will not last.   Home inventory levels will increase as home builders react and start more new homes.  Banks will quickly work there way through millions of foreclosures that are still sitting in limbo.    And, home buyers are snapping up houses right now to lock in low interest rates and low home prices.   If you want to sell your home for the most money, in the least amount of time, you should act aggressively.  Time is of the essence.

Thank you for visiting InfoTube.net.   Post a free property listing on our website.  Search for thousands of homes for sale seen no where else.  Buy an InfoTube or InfoBox to market your property..nothing beats providing a brochure about your home, instantly to a prospective buyer.   Put your property information in front of millions of internet home shoppers and real estate agents with our low cost MLS and Realtor.com listing packages.   Whatever you need to sell your home….we have you covered since 1988.

Is Your Property the Pinball Listing??

Thursday, August 23, 2012 posted by Tommi Crow

   What is a Pinball Listing?

A pinball listing is a house that is listed for an unrealistic asking price.  It pulls in a lot of showings by agents and home shoppers, but receives no offers.  Real estate agents, including the listing agent for the home, use the overpriced house as a negative example to sell similar homes that are listed for lower prices.

Any pinball listing is basically a set up.  Listing agents show clients these homes to make realistically price homes look like fantastic deals, which is why the traffic for pinballs is high…but no sale will ever take place until the price is drastically reduced. 

What Happens to the Pinball Listed Home?   Unless it is being used by Realtors as a set up…they stop showing it until the seller agrees to reprice it at a realistic number.

Is it Ethical for a Broker to Accept a Pinball Listing?   NO!  It is not ethical to list a property at a price that an agents knows it will not sell.  If they do, they are intentionally misleading the seller.  Do agents list unrealistically priced houses to use as a set up, anyway?  YES, all day long.

How to Protect Yourself?  Interview several real estate agents before signing any listing agreement.  Get as much information as you can about CLOSED sales prices of comparable homes in your neighborhood.   If you are inclined, you can always push a little on the listing price, but if you get greedy, or try to go overboard…you may unknowingly become the set up, pinball, out of touch with the competition listing…that everyone loves to visit, but no one will buy.

Thank you for visiting InfoTube.net.  Visit our site to place a FREE property listing, search for great deals, MLS and Realtor.com flat fee listing packages, InfoTubes, InfoBoxes and More.

City by City Home Sales Results

Wednesday, February 23, 2011 posted by Tommi Crow

Existing home sales were up 2.7 percent in January 2011.  Take a look at the chart below to see how your area ranked.

Single-family existing-home sales and prices

 

Metropolitan statistical area
Median price Jan. 2010
Median price Jan. 2011
Annual change in price
Annual change in sales
Atlanta
105,100
106,900
1.7%
-6.3%
Baltimore
230,000
218,300
-5.1%
27.0%
Boston
343,700
334,400
-2.7%
7.2%
Cincinnati
113,900
110,500
-3.0%
5.9%
Dallas-Fort Worth
131,600
141,500
7.5%
-7.7%
Houston
144,600
139,000
-3.9%
10.1%
Indianapolis
103,500
110,700
7.0%
-3.1%
Kansas City
122,200
117,500
-3.8%
1.3%
Miami-Ft. Lauderdale
203,000
165,800
-18.3%
32.9%
Minneapolis-St. Paul
157,000
140,000
-10.8%
10.4%
New Orleans
152,900
143,200
-6.3%
23.2%
New York-Northern New Jersey-Long Island
384,600
381,200
-0.9%
-5.0%
Philadelphia
207,700
208,500
0.4%
-2.4%
Phoenix
137,900
126,900
-8.0%
12.3%
Portland
240,000
215,400
-10.3%
2.8%
San Antonio
n/a
n/a
n/a
n/a
San Diego
366,800
370,100
0.9%
-1.1%
St. Louis
100,000
105,300
5.3%
3.1%
Washington, DC
285,600
292,600
2.5%
-5.5%
U.S.
163,800
159,400
-2.7%
3.3%

Source: National Association of Realtors

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Prediction – Top 10 Housing Markets in 2011

Monday, January 17, 2011 posted by Tommi Crow

The Housing Predictor has released its forecast for the Top Housing Markets in 2011.

According to the companies research, the top 10 markets had two fundamental things in common.  First, homes prices never rose to nosebleed levels like they did in the hard hit area’s such as Florida, California, Nevada and Arizona.  Secondly, these area’s are experiencing fewer foreclosures and loan defaults than other regions of the United States.

            The 2011 Top 10 Housing Markets in the U.S. are:

                           City                                                Forecast

  • 1.  Portland, ME                                           3.6%
  • 2.  Kansas City, KS                                       3.5%
  • 3.  Tri-Cities, WA                                          3.4%
  • 4.  Omaha, NE                                                3.3%
  • 5.  Fargo, ND                                                  3.3%
  • 6.  New Orleans, LA                                     3.2%
  • 7.  Iowa City, IA                                            3.2%
  • 8.  Columbia, MD                                           3.1%
  • 9.  Bellevue, NE                                              3.1%
  • 10 Bismark, ND                                               3.1%

Thank you for visiting InfoTube.net FREE homes for sale and rent website.  Search out listings in complete privacy or list your property to reach thousands of additional home buyers each month. 

If you are interested in learning more about placing a property ad on Realtor.com or the MLS in your area, CLICK HERE!!!

Where will the Next Real Estate Boom Occur?

Wednesday, October 27, 2010 posted by Tommi Crow

  Where will the next real estate boom  happen?  According to research conducted by Patrick Doherty, of the New America foundation, it will likely be right in your home town.

The Great Recession has highlighted a fundamental change in what consumers do want: homes in central cities and closer-in suburbs where one can walk to stores and mass transit. Such “walkable urban” real estate has experienced less than half the average decline in price from the housing peak. Ten years ago, the highest property values per square foot in the Washington, D.C., metro area were in car-dependent suburbs like Great Falls, Virginia. Today, walkable city neighborhoods like Dupont Circle command the highest per-square-foot prices, followed by dense suburban neighborhoods near subway stops in places like Bethesda, Maryland, and Arlington, Virginia. Similarly, in Denver, property values in the high-end car-dependent suburb of Highland Ranch are now lower than those in the redeveloped LoDo neighborhood near downtown. These trend lines have been evident in many cities for a number of years; at some point during the last decade, the lines crossed. The last time the lines crossed was in the 1960s—and they were heading the opposite direction.

There are some obvious reasons for the growing demand for walkable neighborhoods: ever-worsening traffic congestion, memories of the 2008 spike in gasoline prices, and the fact that many cities have become more attractive places to live thanks to falling crime rates and the replacement of heavy industries with cleaner, higher-end service and professional economies.

But the biggest factor, one that will quickly pick up speed in the next few years, is demographic. The baby boomers and their children, the millennial generation, are looking for places to live and work that reflect their current desires and life needs. Boomers are downsizing as their children leave home while the millennials, or generation Y, are setting out on their careers with far different housing needs and preferences. Both of these huge demographic groups want something that the U.S. housing market is not currently providing: small one- to three-bedroom homes in walkable, transit-oriented, economically dynamic, and job-rich neighborhoods.

Thank you for visiting InfoTube.net for real estate.  We have provided marketing and sales assistance for owner, builders and real estate agents since 1988.  We can certainly help you with your sale, too.  Visit our site for details and Free Offers!!

Price Your Home to Sell

Wednesday, July 21, 2010 posted by Tommi Crow

Without the Federal Tax Credit in play, today’s home buyer’s are finding little motivation to sign on the dotted line.  Mortgage rates have remained low for a long time.  Inventory is creeping back up, so buyer’s have little fear of price inflation.   So, what can a seller do to increase a buyer’s urgency to buy?  

The #1 way that seller’s can entice buyer’s and get their attention is  an aggressive price reduction.   As many as 24 percent of home sellers have slashed prices in the last month–that is a 9 percent increase from June levels.   And, seller’s should forget about small, nickle and dime price drops.   Instead, they should dramatically drop their price  to reach a search level that will open them up to new buyers that are not aware of their listing.  For example, if your list price is $220,000, a drop to $199,000 will attract a new audience that is searching up to the $200,000 price point.  

Bottom Line:  If you are sick of waiting and want to move now, price the house to attract multiple bidders and you might even get more than you’re asking for.  And remember…if you are selling your home to buy a new one, you will likely break even because the person you are buying from is in the same gut wrenching position you are.

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Top 10 Cities Where Owning a Home is Cheaper than Renting.

CITY RATIO AVG SALES PRICE AVG RENT
Las Vegas, NV 11 $128,815 $983
Phoenix, AZ 10 $100,535 $883
El Paso, TX 10 $95,388 $770
Miami, FL 8 $189,566 $2019
Arlington, TX 8 $72,422 $789
Fresno, CA 8 $90,446 $870
Jacksonville, FL 9 $92,446 $870
Mesa, AZ 9 $71,377 $697
San Antonio, TX 8 $89,068 $884
Minneapolis, MN 8 $153,844 $1700

Are you considering a home purchase?  Are you currently renting?  Have you considered buying a rental property as an investment?  

The Rule of 15 is a quick an easy tool for determining if a property is cheaper to rent than to own….CLICK HERE  to find out how much to pay for a property based upon the annual rents.    

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Falconridge in the Peak District of Hong Kong is a Trophy Hunters Dream. 

A trophy, residential building lot, located at Falconridge in Hong Kongs’ affulent Peak district, sold at auction for a record $233 Million.   The price equates to an eye-popping, jaw dropping $8717.00 per square foot for the one acre piece of land.

The sale emphasizes that at least the luxury end of real estate in Hong Kong continues to command a premium and provides further proof that the sizzling, hot real estate market shows no signs of cooling off.   Average home prices in the cosmopolitan city soared 30 percent last year and are up 8 percent so far in 2010, in spite of efforts by the government to cool the market down.  To date, higher interest rates, large down payment requirements and increased taxes on luxury homes have done little to stop the flow of big money into the real estate market. 

Thank you for visiting InfoTube.net homes for Sale and Rent website.  Ask us about our popular flat fee MLS service.   It has been the number one tool used by successful seller’s this year and you can’t beat the price.

Friday Good News for Housing!!

Friday, October 23, 2009 posted by Tommi Crow

 The stock market is back to 10,000, the level it reached in 1999.  Sales of existing homes were up a whopping 8 percent, to the highest level seen in 2 years.  The news is abuzz about an extension of the First Time Buyer Tax Credit….But, is it time to “Party like it’s 1999″???

Here is a snapshot of Friday’s real estate news.  You decide.

  1. A record number of people snapped up bargains in September.  The median price of a home sold in the US fell to 174,000, down 9 percent from $191,200 one year ago.  Note: The significant price drop could be blamed in part to the First Time Buyer Tax Credit which favors the lower priced homes.
  2. Keep in mind that the homes counted as “sold” in September were actually purchased in June, July and August.  No doubt the push to buy this summer had something to do with the expiring $8000 Tax Credit.
  3. 70 percent of all homes closed in September were foreclosures or distressed property.
  4. 80 percent of the homes closed, were sold for less than $250,000.  The market above $250,000 has stalled and inventory is rapidly growing.  And, the more expensive the home, the slower the market.
  5. The biggest sales gains (not price gains) were seen in the hard hit cities of Miami and Orlando.  Sales in Miami were up 71 percent from last year, Orlando 65 percent.  Note: Prices are still falling dramatically in the Sunshine state.  In Miami and Orlando prices declined more than 30 percent from last year;  Tampa prices fell to $133,000, down 17 percent.
  6. Sales of existing homes were down nearly 20 percent in Atlanta and Birmingham.  Local Realtors blame job loss for lack of activity.
  7. Prices were flat or up a bit in some cities:  Dallas, Houston, San Antonio; Tulsa; Jackson, MS and Washington DC.

Thank you for visiting InfoTube.NET.  Search our site for thousands of great deals on property or Post your Property Listing for Free.   We never sell your info or spam anyone.  No popups or dead links since 1989.  Happy Friday to all!!

Foreclosures UP.  Unemployment UP.  U.S. home prices DOWN.

Home prices in the United States dropped another 6.8 percent in April from the same period only one year earlier.   The housing crash has now erased 26 percent of the equity in the median priced home, since the peak in July 2006.  The silver lining for renters is that home affordability is at near record levels.

Economists predict that the market will continue to see more home price declines, despite $8000 tax incentives and $275 billon in funding to keep some owner’s in their homes.

Analysts at Deutsche Bank said US home prices may fall another 14 percent before they stabilize.  Like sentiment was expressed by Robert Shiller, who co-founded the respected S&P Case-Shiller Home Price Index.   Many predict the worse declines could be even worse in New York and Orange County, CA.

Thank you for visiting InfoTube.net homes for sale and rent website.  Place a FREE property listing on InfoTube.net or Search our database for thousands of bargains seen no where else.

Market your home to millions of home buyers each month with an MLS and Realtor.com listing.  The price is only $399.  Why pay 6 Percent??

Low home appraisals are becoming a huge obstacle for homeowners and sellers. 

After years of succumbing to pressure to inflate appraisals for greedy lenders, anxious to make loans, it seems that appraisers have done an “about face”.  Now, the biggest obstacle to selling a home or refinancing one is the appraisal.   Like with all back lashes, it seems that the recently lax appraiser has now “over corrected” the problem to the determent of the housing market.

To read more about how to address low appraisal issues, Click HERE.

Thank you for visiting InfoTube.nethomes for sale website.   Property owners can place a Free Property Listing on our site and Buyers can search for thousands of homes seen no where else on the web.  Check it out today!

Sellers Should Lower Price Expectations

Friday, June 5, 2009 posted by Tommi Crow

In light of a new wave of foreclosures and distressed property sales, home seller’s may need to lower their expectations about home asking prices.

Recent reports find that nearly one in every four current home sellers (not seller’s of bank owned property) have dropped asking prices an average of 10.6 percent from their original listing price.   In dollar terms, that is equal to another $27.4 BILLION, yes BILLION, slash in the equity of  US homes.  Ouch!

The good news for home seller’s is that higher interest rates and a rapidly approaching deadline for an $8000 tax credit is creating urgency among buyers.   A recent uptick in sales proves that homes priced aggressively are selling very fast.  But, homes priced above the competition continue to sit and languish on the market for months on end.  Simply put, there is great demand in the market now…at the right price.  Seller’s may need to sharpen their pencils, but buyers are actively purchasing homes.

Thank you for visiting InfoTube.net homes for sale or rent website.   Please feel free to place a free property listing or search our database for great values on US real estate.

Sales of existing homes rose to their highest levels since 2003.   Watch the short video from CNBC for a synopsis of the latest housing numbers from across the nation.

More good news on the housing front.  Infotube is seeing a pick up in activity across the board.   Product sales of InfoTubes and InfoBoxes are picking up at major retailers such as Lowes and Home Depot.  Internet traffic and the number of house ad views on InfoTube.net are growing daily.
The spring selling season is on its way and timing is everything.  If you have a property to sell, make sure you are taking advantage of all the effective advertising channels available to you.
Thank you for visiting InfoTube.net.  Thousands of buyers search our website daily for new listings.  If you haven’t taken advantage of our Free Property Listing, please do so today.

People who are gainfully employed, with solid credit, and have a down payment can buy a lot more house these days, thanks to record low interest rates and home prices.

The average interest rate for a 30 year fixed-rate mortgage fell to 4.79 percent on Wednesday, after the Fed announced that it would begin buying up bonds and mortgage-backed securities.

The real estate market has recently seen a pick up in activity due to the $8000 tax credit for first-time buyers. And, the huge drop in lending rates yesterday, put a huge layer of icing on the cake for home seller’s. When people, who can qualify for a loan to buy a home, see the combination of tax incentives, low interest rates and dramatic price drops, the ones that are sitting on the fence, jump in and buy. Urgency to buy and refinance is also important when rates fall this low, as often the drop is temporary, as it was in January 2009.

The convergence of ecomonic stimulus does benefit some Americans more than others, however. People who do not have a down payment or good credit are less likely to benefit from the postive news, as are the 14 million Americans who are upside down (owe more on their home than it is worth) or face foreclosure. More than 13,000 struggling homeowner’s are calling the Homeownership Perservation Foundation each day. The hotline for help number is 1-888-995-HOPE.

Thank you for visiting InfoTube. net homes for sale website. Spring is here. Rates are Low. House Prices are Fantastic. Tax Incentives Abound. Buyers, Get off the Fence and Lock in the Deal of Your Lifetime. The fact is you have to live somewhere, and if renting was so great, ask yourself why your landlord owns??

6 of 10 Buyers Believe Home Prices are High

Thursday, March 12, 2009 posted by Tommi Crow

 Homegain recently polled Realtors from across the country to learn what buyer’s and seller’s think about home pricing.  The results are shown below.

Buyers think listing prices are …
  Overpriced Fairly priced Underpriced
US 59% 18% 23%
West 51% 23% 26%
Southeast 59% 15% 26%
Midwest 63% 16% 21%
Northeast 62% 18% 20%
Vs. suggested price, owners think their home’s worth is …
  Higher Equal Lower
US 63% 14% 23%
West 54% 16% 30%
Southeast 67% 11% 22%
Midwest 62% 17% 21%
Northeast 72% 10% 18%
Realtors think in the next 6 months, prices in their towns will …
  Decrease Stay same Increase
US 53% 36% 11%
West 66% 27% 7%
Southeast 52% 36% 12%
Midwest 43% 42% 15%
Northeast 54% 40% 6%

To see the survey questions with more data and information CLICK HERE.

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