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Posts Tagged ‘housing inventory’

Not long ago, real estate sales involved hammering a sign in the yard, placing newspaper ad’s and mailing post cards to neighbors.  Today, selling a home requires a huge amount of internet advertising and distribution…which means using great photographs, video’s and social media to boost your properties image and catch a buyer’s eye. 

If you are one of the thousands of  home sellers looking to capitalize on the real estate recovery and pocket maximum profit from your home sale, you have to embrace the internet.  Home buyers use Ipad, tablets, desktop computers and smart phones to shop online and compare hundreds of homes for sale.  Today’s buyers quickly scan through hundreds of listings on sites like Zillow and Realtor.com, looking for that one home that catches their eye. 

To maximize the sales price of your home, consider these 5 tech savvy tools and tips

  1. Use Professional Grade Photography.  A recent study revealed that professional property photo’s increase the perceived value of a home by 13 percent.  Considering that a 13% added value on a $250,000 home equals an increase in value of $32,500, it could well be worth your while to hire a pro.  Buyers are visually oriented, so selling your home has become a bit like a beauty pageant, of sorts.  To increase your sales price, provide the best possible pictures on the internet to grab the buyer’s attention and motivate them to schedule a home showing.
  2. Post a Video Tour on YouTube.  About 20% of buyers search online for home video’s.  Grab their attention by posting a video on InfoTube.net .  We will upload it to YouTube for you, or you can upload toYouTube.com by yourself.
  3. Include a Floor Plan of Your Home.   If possible, include an interactive floor plan that shows how rooms in your house relate to one another.  Interactive floor plans combine the floor plan with professional photo’s and create an exciting shopping experience for home shoppers.
  4. Get Rid of Clutter.  We have all heard this before, but it is amazing at the number of people who do not pay attention to this simple advice.  Buyers are not interested in buying furnishings; they are shopping for a home.  Your house will show much better if it is clean, organized and all personal items are removed.
  5. Advertise on the MLS.   The internet has made it possible for sellers to list property on the MLS and sell it By Owner.  The MLS is the national database of homes that are For Sale.  If your listing is not a part of the MLS, you are missing millions of home shoppers every month, who will never know your house is For Sale.  All MLS listings are distributed to every major search engine for real estate including Realtor.com, Zillow, Trulia, Google, Yahoo and many more.  These websites report buyer traffic in excess of 24 million home shoppers each month.  If you want to maximize your sales price and profit, you have to be on the MLS

Thank you for visiting InfoTube.net.  Please search our website for fantastic deals on thousands of homes for sale by owner, investor and builder.    For more great marketing tips and home improvement idea’s…then be sure to LIKE us on Facebook. 

Housing Outlook for the Next 6 Months

Tuesday, June 25, 2013 posted by Tommi Crow

The real estate market was overheated during the first 6 months of 2013.  Low home inventory, record low interest rates and the lack of new construction were to blame for the unsustainable, rapid price increases and multiple bidding wars for properties. 

5 Reasons we do not feel the hyper-inflated housing market will, or should, continue. 

  1. Rising Interest Rates – Interest have risen sharply in the past few weeks and the trend continues up.  Current rates will slow the number of homebuyers and speculators that are coming into the market during the next 6 months.
  2. Marginal buyers have been priced out of the market due to bidding wars, rapid price increases and higher borrowing costs.
  3. Wall Street and large investment groups are curtailing their buying.  One-third of all homes purchased this year were Cash sales.  This translates to heavy investor buying, which will slow down going forward in 2013.
  4. Shocking run up in home prices are not sustainable.  In May, home prices were up 12.1% on average.  This brings home price levels to a 5 year high.  Pricing is now at a point that many of the short term gains have been realized, and the market will fall back to more normal levels.
  5. Realtors and builders report that inquiries and calls from new customers is down 11%, so far for June. 

Summary:  We feel that the housing market was under valued at the start of 2013, but a frenzied market chewed through much of the low hanging fruit.  With rising interest rates, and increasing inventory levels, we see a move to more sustainable and healthy growth moving forward.   It is still an excellent time to buy or sell.   Inventory levels will increase, but they will remain on the low side throughout the year.  Interest Rates are still at historic lows and price increases, although impressive, leave the average home price far below levels seen in 2006 and 2007.    

Thank you for visiting InfoTube.net

2013 Marks Rebound in Housing Market

Monday, January 14, 2013 posted by Tommi Crow

    InfoTube is bullish on housing in 2013 and here are a few reasons why.

Home prices rose 7.5% last year, largest increase in six years.  Total number of  homes sold increased 6% last year, to 4.2 million, marking the first increase since 2005.  The same forces that helped propel prices last year will be in play this year, including improved housing demand fueled by good affordability, fewer foreclosed homes for sale and a low inventory of unsold homes.

Trends that will Boost Home Prices Again in 2013

  • The Fed feeds housing rebound in 2013.  Interest rates for mortgages are at historical lows, making monthly payments affordable than renting for millions of families. 
  • The rate of new foreclosures has fallen to normal, pre-bust levels. 
  • Banks have cleared a lot of bad debt off the books and rising home prices will loosen up their purse strings.  Expect loans to be easier to come by in 2013.
  • Stronger job growth will drive more housing demand as people living with friends and relatives move into their own homes.
  • Increasing rents and lack of desireable rental inventory will push many tenants out the door and into a home of their own.
  • Investors are snapping up distressed property, rehabbing and flipping it.  This means higher average home sales prices and fewer homes vacant or in disrepair.
  • Rising home prices will increase borrower equity in their homes.  This means that few people will be interested in walking away…or requesting a short sale.
  • The Fiscal Cliff settlement left housing tax benefits in tact.  Mortgage interest deduction, property taxes deductions, depreciation schedules and one time tax free home sales were left in tact, making real estate one of the few remaining tax havens for the average working American.
  • Rising home prices will allow more sellers to list their homes and sell near the asking price.
  • The supply of homes for sale fell to 4.8 months in November, the National Association of Realtors says.  That’s the lowest level in more than seven years.  Realtors consider a six-month supply to be a balanced market between buyers and sellers.
  • Market researcher, Corelogic, calculates that home prices will increase 6 percent in 2013.
  • According to a December survey of 105 real estate experts and economists by real estate company Zillow, home prices will rise 3.1% in 2013. 

All the evidence stacks up to make a good year for real estate in 2013, whether buying or selling.  If you have been waiting for the market to improve to sell your home, the time is now.  If you have always wanted to own a home of your own…the odds are stacked in your favor, too.  

Thank you for visiting InfoTube.net.  Place a Free Property listing, advertise your home on the MLS or Realtor.com, follow InfoTubes very popular Facebook page for up to the minute news and home improvement idea’s that you won’t see anywhere else.

4 Tips to Become a Successful Landlord

Monday, September 24, 2012 posted by Tommi Crow

   Owning a piece or real estate with the objective of earning regular cash flow is probably the best known and most common form of real estate investing.   The rental property is the way a lot of people in the “middle class” have found a real opportunity to make a fortune, if they know what they need to be successful.

Thousands of distressed and vacant properties, historical low interest rates and rapidly increasing rental rates have converged and created a great opportunity.  If you are considering becoming a landlord, focus on 4 basic fundamentals to insure profits and success.

1.  Paying Tenants-  This may sound obvious, but the first fundamental you need to be a successful landlord is a good quality tenant who can pay the rent.

One of the biggest challenges for a landlord is keeping good paying tenants and avoiding vacancies.  If a property is vacant, it usually results in the loss of at least one month’s rent while the place is being freshened up and a new tenant is found.   We highly recommend that all prospective tenants be screened, including a background and criminal record check.   Landlord screening services are available to assist you or your property manager.

One of the best way to keep your rental occupied at all times is to invest in a location that attracts a lot of renters.  Neighborhoods near colleges and universities are filled with students who rent while they attend school…and for the most part, parents insure the rent will be paid.   Homes near education facilities are also in high demand and landlords can usually charge a rent premium for these properties.  Any area with a lot of employment opportunities will also have very good rental demand.  In many markets, larger, 4 or more bedroom homes are scarce.   Find a niche in your market that provides a stream of ready tenants. 

2.  Keep Expenses Low – Contolling costs are one of the basic fundamentals of successful real estate investing.  Some costs of property ownership are known, such as taxes and insurance…but, others are often beyond an investors ability to control. 

Property taxes and insurance are expenses that are determined by third parties.  Combined, they can easily cost at least one months rent each, or more.  On average, budget about one months rent to cover your insurance premium.  Property taxes are another matter and they can vary greatly.  High property taxes helped trigger the housing collapse in Florida, when landlords couldn’t earn any cash flow on rental property.  When searching for an investment property, make sure you verify the taxes because tax rates can easily cost as much as two or three monts rent.

3. Property Maintenance – Keeping your property in good working condition is a big part of managing a successful investment.  Again, screening tenants is key in keeping costs down.  A good tenant will certainly have normal wear and tear and your property, but they won’t do much damage.  However, a bad tenant can cause thousands of dollars in property repairs in a very short period of time.

As far as controlling expenses  is concerned…it is cheaper in the long run to address maintenance issues as they arise.   For example, a roof leak can cost a few hundred dollars to fix, but the price can quickly escalate to thousands of dollars and lost tenants, if ignored.   Although no one likes to pay maintenance expenses, being a slum lord is a costly proposition.  Deferred maintenance brings down the value of the entire property, increases ownership costs in the long term, decreases the amount of monthly rental income that can be charged and atracts renters with less than stellar references or ability to pay.

4.  Reduce Mortgage Costs – Refinance and lock in historical low interest rates.  Current quotes for investor loans for residential property are under 4%.  If you can reduce the amount of interest you pay for your money, it immediately increases your bottom line.  It is also a good idea to appeal tax assessments.  Contact your local taxing authority to see the procedure required.  Most people who go to the tax office armed with recent comps and educate themselves, can get some tax relief.

If renting is so great..why does your landlord own? For all the challenges of owning investment real estate, earning income while owning an asset that someone else pays for is still one of the best ways to create wealth.   If you get really good at it, you can make a good money, decrease the amount of taxes you pay and increase your networth multi-fold.   Lucky you.  Timing has never been better.

Thank you for visiting InfoTube.net.  Visit our site to search for homes, place a free listing, purchase an MLS or Realtor.com listing or buy marketing tools to assist you with sales or rentals.  Like InfoTube on Facebook for up to the minute news, marketing tips, design and staging idea’s.  You will LOVE it!      

                           The recession/depression and housing crash have certainly altered the old American Dream…at least for the foreseeable future.   The ongoing foreclosure crisis will drive another 3 million families to rent single family homes before 2015.

These millions of people are not typical renters, either.  They are older.  They have furniture, appliances, kids and pets.  They are not interested in apartment living.  They are looking to move back into single family homes, after foreclosure.   This new growth in single family rentals is the fastest growing part of the rental market and the pace is unprecedented.

A Nation of Renters Appears to be the Plan?

Private Equity groups smell the blood in the water.  They are buying up billons of dollars in distressed property, which they will in turn rent back to American families.  Colony Capital, for example, has purchased over 1ooo single family homes since December of this year and plans to invest at LEAST $1.5 BILLION more this year. 

In the next 5-10 years, investment firms will gobble up hundreds of billions of dollars of single family homes, at basement prices.  They will Raise rents every chance they get over the next 3-5 years.  Then, they will dump these properties for a profit and move on something else.

How does a Renting Society change the American neighborhood? 

The combination of transient families and declining home values will take a huge toll on American neighborhoods.    A rentership society is much less likely to spend money on plants, a fresh coat of paint, new carpet or a fenced yard—as they would if they owned the home they live in.   

Renters also mean shifts in student populations and present more challenges for our school systems.  Many schools in the Phoenix area report that 50% of their students will be new this year, a far higher percentage than normal.   Everything slows down when a new student enters a classroom and parents are less likely to be involved, when they are not sure they will be there for long.

Is American homeownership still the American Dream?

Thankfully, the answer is YES.  83% of people who lost their homes to foreclosure or distress sales say they want to own their own home again.  Most say they will buy something smaller than they had.  Many promise they will never again tie up so much of their income for a home.  Many who are forced to rent feel displaced.  They feel that they are living in someone else’s house.   They are fearful of entering retirement without having a home that is paid for…which only owning and paying off a mortgage will accomplish.    So, yes, neigborhoods are changing…new homeowners aren’t families, but are investment firms…but appears for all the right reasons… the American dream is alive… at least for now. 

Thank you for visiting InfoTube.net.  We have been helping homeowners, builders and investors market their properties since 1988.  We can help you, too.  Please visit our website for details.

    

President Obama just announced a plan to help US families.  And, miraculously, he doesn’t need the approval of Congress to help us.

  • Obama promised relief to homeowners who are trapped in high rate loans by banks.  If a homeowner is current on their current high interest loan payment, they can not be turned down for a lower interest rate loan that reduces their monthly payment.
  • Obama will cut closing costs for loan refinancing on FHA loans to make refinancing affordable.  The average borrower will save at least $1000 a year in fee’s and charges, in addition to saving about half of the closing costs on the new loan.
  • Obama waives appraisal value as a criteria for refinancing a high rate loan.  In other words, your bank can no longer use an appraisal against you…no matter how much you owe on your current loan.
  • Obama promises to compensate all US Servicemen and Veterans who were foreclosed upon during their tour of duty.  All Veterans who attempted to refinance their home to avoid foreclosure, and were turned away by their lender…are entitled to full compensation for all penalites, fee’s and losses.

We applaude this action and feel that it is long overdue.  This is exactly the type of change that Americans, and the housing market, need to avoid further personal and financial losses.  There is no legimate reason for a bank, who received taxpayer handouts, to turn down a borrower who wants to benefit from low Fed bank rates.   If a borrower is able to afford a $1500 house payments at a 10% interest rate, then why would a lender turn them down for a loan payment of a $1000 per month at 4.5%?    The only answer is a unfortunately a common one…GREED.    Banks are closing ranks to protect their 10% rate of return from dropping to 4.5%, even though the Fed’s (ie: taxpayers) are giving them the money for nothing.

Thank you for visiting InfoTube.net.  If you have been turned down for refinancing…reapply today.  

    When it comes to successful real estate investing, I’ve learned the my purchase price has nothing to do with making money.  Good tenants are the key to making money.  If you are seeking a reliable stream of steady income, with few to no hassles…buy a property that will attract “A” quality tenants who will renew their leases year after year. 

As a novice investor, I often wasted a lot of time and money searching for “a deal” on a house.    I worried about who I would rent it to, later.  After years of losing money and sleep, I learned that seasoned investors use a strategy completely opposite from what I had been doing.  They pictured the most desirable and profitable tenant in the market…then, concentrated on locating a piece of property that would attract that type of tenant. 

If you are searching for a piece investment property that will bring in income, picture who your ideal tenant will be, then buy a piece of property that will draw them in!!   “A” quality tenants look for common ammenities in a rental home… 

  1. Search for properties that are located near strong, vibrant downtown or commercial corridors.  If the area is thriving, you should be in good shape.  If the business district is run down or boarded up, think twice about investing in that location..
  2. Quality tenants live in clean areas of town with parks and recreation options, good schools, medical facilities and reliable police and fire protection. 
  3. Buy property that has easy access to convenient transportation, interstates or major thoroughfares.
  4. Look for neighborhoods that are filled with owner occupied homes, not other rental properties.  You want the area you invest in to be filled with homeowners, not other renters.
  5. The Best Tenants are Long Term Tenants.   If you find a foreclosure or a distressed property, chances are it will be in need of repairs and updating.  Plan to  spend money after closing to make the place nice and fix anything that is broken.  You want your property to be a place that your renter is proud to call their home.
  6. As a general rule, families make the best long term tenants.  On average, families stay in one rental house for 4+ years.  To attract “A” quality families to your property, look for single family homes with a minimum of 3 bedrooms and 2 baths.  The best homes also have 2 car garages, 2 living and eating area’s and a good size yard.
  7. Size Matters to a family. My most profitable properties have not been the cheapest homes, they’ve been the largest.  Large 4 bedroom homes in good neighborhoods, with good schools have been proven winners time after time.   Why?  Most rentals on the market tend to be smaller, starter type homes.  The lack of competition for a large house makes finding and keeping good tenants much easier.
  8. Seek out locations with large employment bases.  Tenants look first at homes located within a 15 minute drive from their workplace.  

In conclusion, it is not “deal” or a cheap sales price that will make you money on rental property.   Properties in “A” condition and “A” locations attract “A” quality tenants that create the positive returns you are seeking. 

Thank you for visiting InfoTube.net a FREE homes for sale and rent website for owners, builders and investors.  If you are selling property, we offer turnkey marketing programs that can save you thousands of dollars, while reaching millions of home shoppers each and every day.  We have helped thousands of people sell their homes since 1989…we can certainly help you, too! 

Demand Made in the USA products like InfoTube and InfoBox when you shop!!  We can rebuild our country!!

    

We finally have an avalanche of positive news regarding on the real estate and housing market for 2012.   

  1. Foreclosure activity in 2011 is down more than 50% lower in several states, including New Jersey, Maryland and Florida.  Realty Trac
  2. The much feared “shadow inventory” of foreclosures declined dramatically in 2011.  In December 2012, 2.2 million properties were in some stage of foreclosure.  In September 2011, that number dropped to 1.5 million units…or a whopping 32% in nine months.  Realtytrac
  3. Realtors in some hard hit area’s, such as Michigan and southern California, are reporting a shortage of housing inventory and a return to bidding wars in tight markets.  
  4. Wall Street thinks the worst is over.  Stocks of the nation’s five largest, publicly traded, home builders are at 52 week highs signaling an upswing in home construction in 2012.  In addition, the home builders have been snapping up deals on land and abandoned subdivisions in anticipation of increased buyer demand.  CNBC
  5. Realtors and home builders are getting a boost from rising rents, as Americans realize that owning a home is often less expensive than renting one.   And, while future rent increases have no ceiling on how high they can go, ownership locks in housing expenses and equity is created as the loan balance decreases each month.
  6. Legal issues, property maintenance and other issues complicating the foreclosure process will push banks and lenders to approve more short sales in 2012, further reducing housing inventory.
  7. Interest rates will remain at historical lows in 2012, which allows more people to qualify for a home and cheap money buys more house for the same monthly payment. 
  8. Foreclosure activity was down more than 30 percent in 2011.   Fewer than 2 million properties foreclosure notices were filed in 2011, down from 2.9 million property filings in 2010.  Realty Trac

InfoTube believes that this news spells OPPORTUNITY for home buyers, home builders, investors and real estate agents.  Home prices and affordability are excellent, yet buyers and investors can still find good bargains.   Today’s smart home buyers will feel like geniuses in ten years when the see what inflation has done to home prices. 

If you have a home to sell, we can help.  Visit InfoTube.net to place a FREE home listing about your property or to buy an InfoTube or InfoBox to advertise your property to drive by customers.  Or, supersize your marketing efforts with an MLS listing.  The MLS and Realtor.com reaches millions home buyers each day that otherwise would not know your home is for sale!!!

Banks Bulldoze Foreclosed Homes

Tuesday, August 2, 2011 posted by Tommi Crow

Bank of America has come up with a new tool to deal with its glut of abandoned and foreclosed homes…. a Bulldozer.

Bank of America, the nations largest mortage servicer, plans to “donate” 100 blighted homes in Cleveland, OH and contribute cash toward their demolition.  The bank has a similar plan for 100 homes in Detriot, 150 in Chicago, with 9 more cities to follow.  Wells Fargo, Citigroup, JPMorgan Chase and Fannie Mae are also considering their own bulldozing programs.

  Getting rid of repossesed homes is the biggest headache for US lenders.  1,679,125 homes ( 1 in every 77) are in some stage of foreclosure as of June.    Lenders feel that no one will buy many of these homes and they”re trying to cut their losses.  Bulldozing the problem away means the banks won’t owe property taxes to our floundering cities and it won’t have to pay for repairs, maintenance and upkeep on the property.  In addition, there are some perks for giving away a house.  The banks get a bunch of tax write-offs and best case… they may even get a pat on the back and some nice PR, too. 

The idea of Bulldozing houses is nothing new.  Although the banks are not blowing up homes for alturistic reasons…I think we can all agree that removing home inventory is good for all of us.  In 2010, Warren Buffet advised that “blow up a lot of houses” was a viable option and similar to ‘cash for clunkers’ auto program.  I always thought bulldozing abandoned homes and returning the land to a raw state was a smarter solution than handing out money in the form of a homebuyer tax credit.   The tax credit cost billions of dollars, put money into the hands of a few people blessed with good timing and did little to reduce inventory.

Bankers, why not take the “TNT” strategy one step further.   Donate unwanted houses to local non-profits vs blowing them up?  Make a call to Habitat for Humanity, for example?   I can’t understand why Habitat is still building new homes, when we can’t get rid of the ones that are causing problems in our neighborhoods.   Habitat needs to change their business model with the times and so do our lenders.  Families, who are in dire need now, wait up to 6+ months for a new home to be built and the cost of building from scratch far exceeds the costs of rehabbing properties, in most cases.       

Just my two cents….

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Would you like to see what the housing market has in store for 2012?  If so, take a moment to watch this video.

Housing Market 2012

Remember that in spite of the doom and gloom…10,000 sets of keys are handed to new homeowners every single day!!  

Thank you for visiting InfoTube.net…a FREE marketing website for owners, builders and agents.  

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7 Secrets to Selling Your Home Now

Thursday, April 21, 2011 posted by Tommi Crow

In today’s’ super-competitive housing market, it is essential that homebuyers picture themselves living inside the home you are trying to sell.    

7 Secrets to Selling Your Home Now

  • For starters, take down the Wallpaper – Trust me when I say, “Buyers just do not like wallpaper.”   If you doubt how personal wallpaper is…just walk into any wallpaper store and stare at the thousands of available patterns.  Chances of your tastes matching are at least a thousand to one.  Don’t risk it!  Pull that paper down!
  • The Clutter HAS to Go!  Living in a house is alot different than Selling a house.  It is easy to get blind to your own clutter.  Ask a friend, neighbor or neutral party to be honest with you.  Then, pack away every single thing you don’t use.  And, clear the kitchen counters completely.
  • Smelly Homes Will NOT Sell.  Agents have an old saying, “If I can smell it, I can’t sell it.”  Pet smells, musty odor’s, etc will kill a sale everytime.
  • White is not a Color.  But, paint is your friend.  Every room should have a fresh coat of paint in a warm, neutral color.
  • A Spot of Color.  Everyone loves flowers.  Place pots with colorful annual flowers by the front door or plant seasonal color in the beds to make your home inviting and memorable.
  • Househunting Begins on the Internet.  If your property is not exposed on the internet, your chances of a buyer finding you are very small.  Tip the odds in your favor by advertising your home on the MLS and all the major search engines for real estate.  InfoTube also offers FREE property listings on its website.   Also, make sure your listing includes at least 10 good photo’s of the interior and exterior of your home.  If possible, also include a video tour of the house and neighborhood.
  • Forget About Comp’s and Sold Properties.  Study your competition, which means homes currently For Sale.  If your home is priced too high when compared to your competition, it is going to sit for a long, long time.

Homeowners should please keep in mind that Buyers have a lot of choices.  The homeowner who can make their house stand out among the vast inventory of “For Sale” signs will the one who wins the selling game.

Thank you for visiting InfoTube.net homes for sale and rent website.  For up to the minute real estate news and tips follow InfoTube for Real Estate on Facebook.

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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Winter Home Sales Tips

Tuesday, January 25, 2011 posted by Tommi Crow

   Seller’s often wonder if they should take their home off the market during winter.   My answer is usually “NO”.   Seller’s expend a lot of money and effort to get a home ready for sale and it does no good if the property isn’t on the market.   And, while there are fewer buyer’s during winter, there are also fewer homes for sale.  

But, if you’re still debating…consider the following:

  • Winter, spring, summer or fall…if you’re priced above the rest of the market, your home will help sell the well priced listings, but not yours.
  • There is less competition from competing homes during winter and less inventory benefits sellers’.
  • Buyer’s who are househunting during winter are serious and truly motivated.
  • Interest rates trend lower during winter months, when loan demand is low.
  • Gardens and landscape don’t look as appealing in winter.   If your home won’t exactly win “yard of the month” during summer…a snowy winter may actually level the playing field for you.
  • Don’t believe that if you pull your home off the market during winter, you can bring it back in the spring as a new listing.   No one is fooled by this trick.  Your listing will still appear as canceled and relisted in the MLS.
  • If it’s not on the market, the right buyer may come and go.

Thank you for visiting InfoTube.net FREE homes for sale and rent listing website.  Visit our site for free tips, questions and answers, marketing products and more.  We’ve been helping home sellers through market ups and downs since 1989 and we can help you, too!!!

Is the Media too Pessimistic About Real Estate?

Monday, December 6, 2010 posted by Tommi Crow

 Does the media correctly report the facts about the housing and real estate crisis in the US?

Click Here to Read what the Boston Globe reported about the accuracy of the media when comes to buying or selling a home.

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The recently signed Distressed Condominium Relief Act of Florida has Wall Street and bulk investors diving  into the Florida condo market.

Florida  implented the act on July 1st and the result has been overwhelmingly successful, so far.   The first thing the act did was give condo associations the right to demand deliquent renters pay rents directly to the association.    Even more significant, the law eliminated developer liability.  Prior law defined a developer as  anyone who sold or leased more than 7 units in a condo in one year.   Under the old law, “Developers” faced potential unlimited liabilities for such things as construction warranties..

By removing the unlimited liabilty for bulk investors, major Wall Street firms, which represent billions in assets and capital, descended on South Florida and began gobbling up condo units in bulk.  “Since the law went into place, activity has been “off the charts”, said Peter Zaleswski, founder of Condo Vultures.   “We’re moving away from a situation where it’s 10 oe 20 units in a bulk buy, to one where it’s 100 or 200 or even 300 units,” Zalewski said.  “You have several Wall Street funds competing on the same projects.  It’s all because of the change in the new law.”

Good news for Florida homeowners and builders…Zalewski said the change has been drastic.  “I would challenge you to find one of the largest groups on Wall Street who’s not looking into South Florida right now.”  Zalewski predicted…”I would anticipate you see some huge numbers put on the board by the end of the year.”

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