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Home Buying 101 Archive


Price Reductions Continue to Climb for Fourth Consecutive Month

RISMEDIA, October 22, 2010—Trulia.com, a top site for home buyers, sellers and renters, announced that price reductions for home listings currently on the market in the U.S. have increased for the fourth consecutive month to an all-time high of 27% and account for a total reduction of more than $30.7 billion nationwide. A deeper look into the data shows a continual and dramatic price reduction increase in many cities that began in June 2010.


Home Sales Continue Post-Tax Credit Correction

RISMEDIA, October 20, 2010—The summer season of home buying was a difficult one because many buyers purchased earlier in the spring in an attempt to qualify for the government’s tax credit. Now the market is still attempting to return to traditional seasonal trends. A monthly survey


Realtors Support FHFA Proposal to End Private Transfer Fees

RISMEDIA, October 19, 2010—The National Association of Realtors (NAR) strongly supports the proposed guidance from the Federal Housing Finance Agency to prevent government-sponsored enterprises Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks from investing


Mortgage Insurance Plays Increasing Role in Optimizing Home Financing

RISMEDIA, October 18, 2010—In today’s dicey lending environment, many a would-be home buyer often falls into one of two camps: uninformed or running scared. Unfortunately, tightening lending standards and a pervasive unease about the overall economy have combined to keep many potential buyers on the sidelines of homeownership. In many cases, however, proper guidance on the available loan products could have shown them that not only is a home purchase achievable, but affordable as well.


Home Sellers Must Look Beyond Price Cuts in Today’s Market

RISMEDIA, October 15, 2010—(MCT)—Ken and Linda Bolsch put their five-bedroom, five-year-old Mahwah, N.J., colonial on the market in January, sure that buyers would appreciate its low taxes, wooded lot, and impeccable decor and landscaping. But after nine months—and a price cut from $925,000 to $749,000—the house is still on the market, with the couple looking at a substantial loss at that price. "We fell in love with the house from the moment we saw it, and we don't know why other people aren't doing the same," Ken Bolsch said.


Nearly Eight in 10 Americans Still Believe Buying a Home Makes Good Financial Sense

RISMEDIA, October 15, 2010—Nearly eight out of 10 respondents believe buying a home is a good financial decision, despite ongoing challenges with the economy and housing market. That's according to the 2010 National Housing Pulse Survey, an annual report released by the National Association of Realtors. The survey, which measures how affordable housing issues affect consumers, also found job security concerns to be the highest in eight years of sampling, with 70% of Americans saying that job layoffs and unemployment are a big problem in their area; eight in 10 cite these issues as a barrier to homeownership.


Home Sellers Must Look Beyond Price Cuts in Today’s Market

RISMEDIA, October 15, 2010—(MCT)—Ken and Linda Bolsch put their five-bedroom, five-year-old Mahwah, N.J., colonial on the market in January, sure that buyers would appreciate its low taxes, wooded lot, and impeccable decor and landscaping. But after nine months—and a price cut from $925,000 to $749,000—the house is still on the market, with the couple looking at a substantial loss at that price. "We fell in love with the house from the moment we saw it, and we don't know why other people aren't doing the same," Ken Bolsch said.


Be Market-Smart: Dos and Don’ts for Home Sellers and Buyers

RISMEDIA, October 13, 2010—It would be unrealistic to say that the real estate market is utterly rosy right now, but neither is it thorn-filled by any means. In fact, things are decidedly looking up: July got some good news, when the National Association of Realtors reported that pending home sales rose 5.2% from downwardly revised June levels, beating economists’ expectations. This is good news for both buyers and sellers.


Mobile Ads Benefit Buyers and Sellers

RISMEDIA, October 12, 2010—Earlier this year, a lot of attention was drawn to the world of mobile technology and mobile advertising, in particular when both Google and Apple decided to ramp up their mobile advertising businesses. In January, Apple bought mobile advertising


Los Angeles Real Estate Scene Attracts, Creates Celebrities

RISMEDIA, October 4, 2010—(MCT)—The face. The hair. The voice. Why does that real estate agent seem so familiar? Because, in that only-in-L.A. kind of way, there's a good chance the agent is also an actor, reality show personality or has had some other brush with fame.  The last decade's real estate bubble and bust spawned more than 20 reality cable television shows devoted to home buying, selling and flipping, so the odds are that some of those agents will end up at an open house near you. Broaden the spotlight to music and acting, and the recognition factor climbs even higher.


Nonprofit Organization Rehabs Discarded Houses into Super-Efficient Homes

RISMEDIA, October 1, 2010—(MCT)—Wendy and Robby Haun had to sell their home near Cary, N.C., to make way for a state highway project, but the comfortable ranch house did not go to waste. It went to Builders of Hope, a pioneering Raleigh, N.C., nonprofit that has found new life and new families for more than 60 discarded dwellings in the past four years. Since 1999, the Hauns had lived in the house next door to Wendy's childhood home. The N.C. Turnpike Authority bought both houses for the 18-mile Triangle Expressway which is now under construction.


Foreclosure Homes Account for 24 Percent of All 2010 Second Quarter Residential Sales, According to RealtyTrac

RISMEDIA, September 30, 2010—RealtyTrac, a leading online marketplace for foreclosure properties released its Q2 2010 U.S. Foreclosure Sales Report, which shows that foreclosure homes accounted for 24% of all residential sales in the second quarter of 2010 and that the average sales price of properties that sold while in some stage of foreclosure was more than 26% below the average sales price of properties not in the foreclosure process—down slightly from a 27% average discount in the first quarter.


First-Time Home Buyers Stoke Demand for Smaller, Less Expensive Homes

RISMEDIA, September 28, 2010—A growing segment of the housing market—first-time home buyers—are contributing to an increase in demand for smaller and less expensive new homes, according to research from economists at the National Association of Home


Housing Starts Jump 10.5 Percent in August 2010

RISMEDIA, September 23, 2010—(MCT)—New housing starts surged 10.5% in August 2010 to the highest level since spring, but the activity was driven by a sharp spike in apartment construction, government data showed. Housing starts rose in August to an annualized rate of 598,000, compared with a revised 0.4% increase in July, the Commerce Department reported. Economists surveyed by MarketWatch had expected housing starts to drop to 535,000 on a seasonally adjusted basis.


Considering a Short Sale? What to Keep In Mind as You Begin the Process

RISMEDIA, September 23, 2010—(MCT)—Bill Joyce starts every short sale journey with "The Speech." In a what's-ahead warning to home buyers, the Roseville real estate broker promises prospective buyers that they will be tested and tortured. They will endure privations beyond all expectations. And then they might fail.


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