By Luke Mullins , On Tuesday January 26, 2010, 5:03 pm EST
Although home prices continued to stabilize in November, real estate experts believe we have another 5 or 10 percent
of declines in store before values finally hit bottom.
Those who consistently make money in real estate know the market. They know the location and the history. They know what new developments are planned. They know the transportation and the schools. They know everything about the area where they invest. They have to know it all.
Staying ahead of the competition in real estate investment means doing your homework. If you are new to the business, it can be daunting, but we’ll teach you five tricks that the old pros use to get ahead of the trends instead of chasing them……….
Some Housing Markets Hot Again, According to ZipRealty Q4 2009 “Home Hunter Report”
Phoenix Is Most Coveted City by Online Home Hunters in 2009
These are just some of the highlights revealed by ZipRealty’s report released today, which identifies where home sellers are fetching the highest offers compared to their asking prices among 33 markets the brokerage serves. Highlights from the ZipRealty Q4 2009 Home Hunter Report, which also identifies which cities nationwide are most highly searched online, include:…….
Existing home sales plunged in December, falling nearly 17 percent from November in their largest month-over-month drop since record-keeping began.
By Alan Zibel, AP Real Estate Writer
, On Monday January 25, 2010, 3:26 pm
WASHINGTON (AP) — Sales of previously occupied homes rose in 2009 for the first time in four years, despite a December slump that was due to a tax credit that had caused many buyers to complete sales earlier.
Still, prices plunged more than 12 percent last year — the sharpest fall since the Great Depression. The price drop for 2009 — to a median of $173,500 — showed the housing market remains too weak to help fuel a sustained economic recovery. Total sales for 2009 were nearly 5.2 million, up about 5 percent from 2008
by Kenneth R. Harney
When the Case-Shiller index reports that home prices have reversed course and are finally rising again, and you know that Case-Shiller has been the gloomiest, scariest-headline-producing monitor of the real estate market for the past three years — some say: We have truly turned the corner here. More
Luke Mullins, USNews.com
Jan 13th, 2010
As the temperature drops and the snow piles up, it’s easy to forget that spring is quickly approaching. And after more than three years of a painful housing swoon, real estate experts predict that lower prices, attractive mortgage rates, and a tax perk from Uncle Sam will create the most vibrant spring home selling season in some time. “This is going to be probably the most pleasant experience for a home seller in the last four or five years,” says Mike Larson of Weiss Research. “If you have been beating your head against a wall, this is going to feel a lot better.” But even if the market does perk up, buyers are likely to retain the upper hand throughout 2010. So to help property owners get the best selling price they can–without burying themselves in expenses–U.S. News has created a list of 10 cheap ways to boost a home’s sales price by spring: read here
Note: I highly recommend you discuss this with a qualified tax professional BEFORE entering into a listing, sales, or purchase agreement,
Here’s the basics:
Tax Credit Update
The Extended and Expanded Tax Credit agreement includes the following provisions:
Who: First -time homebuyers-same definition as current law
Who: Repeat purchasers. Must have used previous home as a principal residence for 5 of the 8 previous years.
Income Limits: $125,000 for single filers/$225,000 for joint filers. Same for both first-time and repeat/move up buyers.
Limitation on cost purchased home: $800,000
Time Frame: November 6, 2009 to April 30, 2010 (As reported by the Federal Housing Tax Credit Website)
Click here for more information and updates.
For a simplified pdf chart click here.