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Home Buying 101 Archive


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.


5 Reasons Why Now is a Good Time to Invest in the Housing Market

RISMEDIA, September 21, 2010—(CBS MoneyWatch)—Foreclosures spiked in August 2010, with banks seizing 95,364 homes, according to RealtyTrac, a housing research firm. They were up 25% from August 2009 and at their highest level since the company started tracking this data in 2005.This is frightening news for homeowners, home sellers, and home builders who may feel like they are barely hanging on, because it signifies continuing weakness in the housing market.


FHFA Establishes New Housing Goals for Fannie Mae and Freddie Mac

RISMEDIA, September 8, 2010—The Federal Housing Finance Agency (FHFA) has sent a final rule to the Federal Register establishing new housing goals for Fannie Mae and Freddie Mac (the Enterprises) for 2010-2011. The Housing and Economic Recovery Act of 2008 (HERA) required FHFA to establish housing goals for the Enterprises for targeted segments of the mortgage market.


Exceeding Expectations, Pending Home Sales Rise 5.2%

RISMEDIA, September 3, 2010—Following a sharp drop in the months immediately after the expiration of the home buyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator, rose 5.2% to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June, but remains 19.1% below July 2009 when it was 98.1. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.


FHA Gives Home Buyers One Month Window to Lock in Low Insurance Premium

RISMEDIA, September 2, 2010—“The Federal Housing Administration (FHA) is giving homeowners and buyers until October 4, 2010 to lock in a low monthly insurance premium,” said Gibran Nicholas, chairman of the CMPS Institute, an organization that trains and


Appraisal Institute’s New Guide to Home Buying Offers Uniquely Unbiased View

RISMEDIA, August 31, 2010—A home buying guide published recently by the Appraisal Institute teaches home buyers when to buy, how to find a real estate agent, how to choose the best home on the market and more—all from the uniquely unbiased perspective of a real estate appraiser. An Insider’s Guide to Home Buying by Mark R. Rattermann, MAI, SRA, notes that real estate appraisers are professionally trained to render an objective opinion of a home’s value.


Home Buyers Are Ready to Move from the Sidelines: Survey

RISMEDIA, August 30, 2010—Are more Americans positioning themselves for home purchase? Although May’s data showed that home sales were down 26.8% as the home buyer tax credit concluded, a new survey conducted by Relocation.com suggests some families are opting for renting while they research—cash in hand—for deals on a new, ...


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