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Tag / housing market

Zillow & President Obama: A Better Bargain for Responsible Homeowners [Video Recap]

As we previewed this past Wednesday [August 7th], Zillow hosted a very unique online event, featuring President Barack Obama answering questions about the current US housing market. Moderated by Zillow CEO Spencer Rascoff, participants submitted questions & discussion topics in advance, using the hashtag #AskObamaHousing at @Zillow on twitter. The President covered topics such as...CONTINUE READING

President Obama answers YOUR Housing Questions

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Philadelphia Real Estate Market Update – Ending February, 2013

Rounding off the end of February 2013, shows again the Philadelphia real estate market looking strong. According to the Altos market update, both price and inventory levels are beginning to even off. This indicates a great time to watch the market’s activity which will help identify key times for price changes. For a full overview...CONTINUE READING

Listing prices up in Philadelphia and 85 of the top 100 markets

The real estate market in the country is looking stronger and showing promising signs of price recovery! Out of the top 100 largest metropolitan areas, 86 of them are seeing that the asking price for their home sale is up as much as 5.9% from a year ago. According to the graphs below from Truila.com,...CONTINUE READING

Philadelphia Real Estate Market Update – January, 2013

Starting the 2013 year off on a good note for Philadelphia real estate. According to the Altos market update it’s shows a very strong market for buyers and that inventory should stay fast at current sales prices. This should be a huge advantage for buyers giving them ample choice to find the right property for...CONTINUE READING

Housing Market Looking Strong in 2013

According to Truila.com, they believe that moving into 2013 consumers are optimistic about the housing market and are more ready to buy . They explain that in a survey conducted in November 2012, 31% of renters are planning to buy within the next two years up from below 22% a year prier. To read the...CONTINUE READING
First Time Home Buyers

Advice For First Time Home Buyers

First Time Home Buyer Tips Take advantage of the record low mortgage rates. Has housing market reached bottom? Probably 2 months ago… Inventory is up. Townhouse investments are good, tend to be the cheapest homes in most markets. Homes with children, better to grow into a bigger home. Get in the market before it runs...CONTINUE READING
Real Estate in 2012

Real Estate in 2012

Foreclosures: 1.5 million homes in the foreclosure process 3.5 million homes with delinquent mortgages 10 million properties underwater Median Home Prices: Northeast – down 5.5% –  $224,400 Midwest – down 4.7% – $132,800 South – down 1.6% – $145,700 West – down 1.6% – $207,500 720 Credit rating required for home loans today.  Mortgage rates...CONTINUE READING

Americans still prefer to be owners than renters

According to a Pew Research Center Survey, regardless of the housing crisis, American’s still prefer to be owners than renters.  Of the 1,222 Home Owners surveyed (out of 2,142 total adults) Eight in 10 of adults agree that buying a home is the best long-term investment a person can make.  47 % say their home is worth less now...CONTINUE READING

4 Signs it’s Time to Buy Rather Than Rent Your Home

Mortgage rates are going up. Prices have continued to decline in general and combined with low interest rates, affordability has been record-high for the last four years.   But with prices remaining low and interest rates climbing, we are now likely at the peak for the opportunity to buy very affordable homes. Rents are climbing. The...CONTINUE READING

Spring Is In The Air!

Time to jump in- YES Very little upside to waiting around Cheap homes to choose from right now No way to tell when bottom is Best is to buy in the low — so now is the time! Spring will bring more houses but not lower prices! This is brought to you by Philadelphia Real...CONTINUE READING

Toll Brothers Profiting

Toll Brothers Inc., the nation’s largest builder of luxury homes based in Horsham, recorded a surprising 1st quarter profit.  They were likely helped by a tax benefit and their higher than average price for homes. Toll Brothers operates in 19 states.  Its customers are generally buyers who already own a home and looking to trade...CONTINUE READING

Housing Recovery

Fragile housing market 3 Options Government out of mortgage market Government presence light in mortgage market Heavy backstop Probably going to take upwards of 5 years for recovery Mortgages will get more expensive in short term, but not by a lot. This is brought to you by Philadelphia Real Estate Blog To view every Philadelphia...CONTINUE READING

Housing Finance Changes

One industry virtually unaffected by last year’s financial reform law has been housing finance.  The housing market remains a fragile mess.  Policymakers in Washington are trying to figure out ways to fix home buying finance so we never experience this sort of housing crisis again.  A big question is what kind of role the government...CONTINUE READING

Home and Building Confidence

Demographically- we have a low level of housing production People need shelter, building has to increase at some point. Abundant financing credit available under $700k with good credit. Jobs and occupancy levels look good for 2011 Commercial Real Estate Markets big – Wash and NYC Private investors coming back into the market Current interest rates...CONTINUE READING

Housing Market Update

CNBC Realty Check Sales coming back, prices haven’t yet hit bottom Prices down -5.1% (-26% from peak) Sales are mostly bargain hunters Now is the time to get in if you have: A Long term time horizon Equity of all cash Patience to go through a short sale or foreclosure Foreclosure’s share of sales rose...CONTINUE READING

Say Bye to 4% Mortgage Rates

Mortgage rates have risen quickly since the beginning of November.  Some industry experts think that’s a good thing for the housing market.  Rates have risen to 4.86% and forecasters are predicting them to remain between 5% and 6% for all of 2011.  We will probably never see those record low mortgage rates again.  Now is...CONTINUE READING

More Housing Tax Credit?

The HUD is flirting with the idea of yet another housing tax credit while carefully watching and assessing the market.  They say they are committed to doing everything they can to make sure it stabilizes and recovers.  HUD Secretary Shaun Donovan was on CNN this weekend stating “we’re going to be focused like a laser...CONTINUE READING

Home Affordability Highest in 10 Years

According to the Obama Administration’s Housing Scorecard from the US department of Housing and Urban Development, home affordability remains near 10 year highs.  The market for housing has performed better than most people have predicted.  Efforts from the Obama Administration have provided lots of opportunities for qualified and prospective homebuyers and also offered assistance to...CONTINUE READING