Positive Predictions on Housing Recovery
While our beloved city of Buffalo has remained largely unscathed by the nation’s real estate trouble, the market still could be on the rise. The Urban Land Institute, a think-tank that focuses on land use, predicted positive growth in the next three years. According to their report, home prices will rise in the next three … Read more
The Ultimate Memorabilia: Michael Jordan Places Home on Market
Chicago’s #23 is selling his 56,000 square foot home for $29 million. Jordan’s home in Highland Park, IL– about half an hour out of Chicago– took two years to build (from 1993 to 1995) and was renovated two years ago. The home features some 15 bathrooms, a guesthouse, tennis courts, and a putting green. It … Read more
Nationally, Home Prices Fall
While there have been many good signs for the market as 2012 begins, the end of 2011 saw a drop in home prices– another fall in a six-year down turn for the market. Across the country, housing inventory has dropped, making competition among sellers even more intense; a large number of foreclosures haunt metropolitan areas. … Read more
Appraisers Say, “Low Home Values Aren’t Our Fault”
One of the nation’s largest professional associations of real estate appraisers, the Appraisal Institute, spoke out recently about the way appraisers are received by buyers and sellers. The message: don’t blame the appraiser for a disappointing evaluation of your home’s value. Appraisers set prices, not for buyers or sellers, but for lenders, who make sure … Read more
Three Cities in New York That Aren’t Underwater
Underwater mortgages are mortgages that are worth more than the value of the actual home. Since the housing crisis began, a number of homes across the nation have gone ‘underwater’ due to changes in market value. Rochester, Albany, and Buffalo, however, have some of the lowest percentages of underwater mortgages in the country. Each of … Read more
Prices of New Homes Refuse to Go Down
Despite a slow market, the prices of newly built homes have not come down and the average transaction cost for a new home is $220,000. This comes as a result of more expensive construction materials and workers’ wages remaining the same. However, the prices of existing homes have been forced to come down as a … Read more
Ten Places to Buy a Home for Under $150,000
In markets where housing inventory exceeds the number of potential buyers, finding a home for an attractive price is not just possible, but probable. In these markets, household income is high enough to buy a reasonable, “mid-market” home without overpaying. Often, a high number of foreclosed and damaged homes also help to drive down market … Read more
All the Home’s a Stage
For homeowners having trouble selling, staging is becoming a more attractive option. Staging, the practice of making one’s home appealing to the highest number of potential buyers, helps a buyer imagine a space as their own. Staging helps to spruce up lived-in homes by de-cluttering, cleaning, and sometimes even remodeling. It is a way of … Read more
Investors Account for High Proportion of Sales
Distressed homes (homes in foreclosure or short sale) and damaged homes (those in need of serious repair) are becoming less and less attractive to first-time home buyers because of the time and money involved. That’s no problem for investors, who are taking advantage of these competitively-priced properties. With the number of these homes driving down … Read more
Is It A Good Time To Buy Real Estate?
Many of you out there may be questioning whether or not you should buy real estate. You may be wondering is it really a good time to buy or should I wait? The thought has probably crossed your mind that, us, real estate agents would push buying a house on you regardless of the current … Read more
