Posts from March 2011
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15
If Prices Are Falling, Why Are the Rich Buying?
There is an interesting phenomenon taking place in the real estate market. While house prices are falling, the rich are starting to purchase. DataQuick Information Systems reported last week that sales on homes $1 million or more rose 18.6% last year after four consecutive years of decline. This is at the same time that sales outside of this price point actually fell 2.8%. And even more amazing is that homes over $5 million have also increased substantially. Housing Wire reported that: In 2010, 975 homes sold in this bracket, up nearly 14% from the year... 10
Ruhl&Ruhl REALTORS Partners with Nelson Brothers Insurance
8
7 Tips for Short Sale Success
When you owe more on your home than its worth, but you have to sell, you need to squeeze every dollar possible from the sale. Here are seven tips for navigating the short-sale process. 1. Know who you owe A short sale has to be approved by any company that has a mortgage or lien against your home. That includes your first, second, or even third mortgage lender, your home equity line lender; your homeowners or condominium association; and any contractors who've placed a lien on your home. Make a list and start talking to everyone early in the process. Ask what documents they'll need from you. 2. Pick your short sale team You'll need to work with a team of short sale experts, including a real estate agent, real estate attorney, and your accountant. Look for age...
3
For Buyers: The Financial Opportunity of a Lifetime?
We often point out that a buyer should be more concerned about the COST of a home rather than the PRICE. Price obviously is a component of cost. However, unless you buy all-cash, you must also be concerned about the financing of the purchase. The price and the financing together determine the cost of a home. Today, we want to look at only the financing piece.
An opportunity exists today because of recent government involvement; an opportunity that may never again be available in our lifetimes. There has been much discussion about what role the federal government should have in supporting homeownership. We will leave our opinions on the debate for another time. However, we want to alert you to two advantages available to a purchaser today that may disappear in the future:
- Historica...
1
If Your Goal Is to Buy Low, Buy Now!
