In a dramatic about-face for the housing market, sellers are now calling the shots. A survey of more than 2,000 Americans found that 33% of the 365 who were searching for a home have been on the hunt for more than a year and many were willing to make compromises on where they live or the type of home they would buy in order to close the deal. Read more here.
Home purchase contracts in New Jersey soared in April, recording a 28% increase compared to one year ago. Given that the pace of sales rose by 23% in April-2012, purchase demand has expanded by an astounding 58% over the past 2 years. The “buy now, pay less” mood among home buyers is creating a sense-of-urgency that is likely to raise purchase demand in 2013 to pre-recession levels last seen in 2006.
The New York Times says: Americans are in a buying mood, thanks largely to the housing recovery. Housing prices rose in every one of the 20 cities tracked, continuing a trend that began three months ago. Similar strength has appeared in new and existing home sales and in building permits. Read more here.
Home appraisals can make or break a sale or refinancing. In particular, low appraisals are a big problem for many would-be buyers and refinancers as home values have started to stabilize and rise in most markets. Click here to read what you can do.
We can’t resist commenting on the story which appeared in the Wall Street Journal a while back regarding Colby Sambrotto, the founder and former CEO of forsalebyowner.com. It seems the founding father and lifelong evangelist of the concept of selling your home without a real estate agent was forced to hire a broker to sell his home after failing at what he preaches others should do. The rest of the story here.
A bathroom renovation is an exciting task. But before jumping to choosing the latest tile or bathtub design, there are some less exciting things to consider so your project turns out just the way you dream it. Read on.
Have you ever said something in the heat of the moment, then wished for weeks later you could reel those words back in? Truth is, all of us commit emotion-driven mistakes in some areas of our lives. But when it comes to selling your home – read: cashing out your most valuable asset – the stakes are simply too, too high to allow yourself and your transaction to fall prey to predictable emotional pitfalls. Read more.