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If you have decided that you must sell a home in 2010, then I recommend that you prepare yourself for a successful (ad)venture. You see, right now, nearly 80% of homeowners who decided to sell their home over the past year failed (they still own the home), but you do not have to be like them.
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The Tallahassee Housing Market is undergoing a pleasant change right now. Most of the key indicators signal that we might be starting a recovery.
Is it due to the fact that we have spent two years selling roughly 50% of the number of homes that our market history sells? Or is it due to the Home [...]
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Do you remember when you were growing up and falling down all the time, Mom would put a band aid on your fleshy scrape to keep it from getting infected. That band aid made you feel really good, but it came with a price.
Removing a band aid from a messy wound is not a pleasant [...]
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A recent Wall Street Journal article about the first-time homebuyer tax credit cautions buyers under contract to wait until after closing before purchasing appliances, furniture or similar items on credit. The article notes that some mortgage lenders are running credit reports on closing day, and even an additional credit inquiry (let alone a purchase) may [...]
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I came across a survey of homeowners that I think is very enlightening for many reasons. This Zillow real estate survey (a real estate aggregator and internet portal) asks homeowners what they think of their home value and what its value will be in the future. They also ask what the homeowner thinks about their [...]
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After reading The State of the Nation’s Housing 2009 from the Joint Center for Housing Studies of Harvard University, it became clear to me that much of the rest of the country is already seeing some signs of a housing market turn. More importantly, it made me fully aware of the fact that many learned people are seeing reasons why it should and will be occurring.
But how do you predict the turn of the housing market in Tallahassee? There are so many factors involved that you cannot simply point to any one factor, so I thought I’d summarize why I think I know when the turn will begin.
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A demonstration of the impact changing interest rates have on the affordability of a home. It is easy to think that a change of interest rates of 1% is not that big, but when you consider a move from 5.25% to 6.25% (one percent), that is really an increase in the cost of borrowed money of 29%! What do you think would happen if labor costs rose 29% or land costs rose 29%?
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