Mastering the new real estate rules | South Salem Real Estate

-
The housing market is getting hot—and that is changing the game for both home buyers and sellers.
In many cities, including those hard hit by the downturn, bidding wars are breaking out and winning offers often exceed the asking the price. A relatively low inventory of homes for sale is feeding the scramble.
Existing-home sales were up 13% in May compared with the previous year, reports the National Association of Realtors, and the median home price was up 15%, to $208,000, the biggest jump since October 2005. Average home prices for the most recent S&P/Case-Shiller 20-city index were up 12% in April over a year ago.
For first-time buyers and those eager to move up, it could be a good time to buy. Prices still are well below the mid-2000s highs. Interest rates have shot up, but they remain low by historical standards. The average rate on a 30-year fixed-rate mortgage was 4.37% for the week ended Thursday, up from 3.35% in early May, according to Freddie Mac’s weekly survey. Until 2009, rates were above 5% going back to the early 1970s.

Initially, rising rates could drive potential buyers into the market before mortgage costs climb more. But if rates continue upward, they could help put an end to the boom.


Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor » Blog Archive » Mastering the new real estate rules | South Salem Real Estate

Comments

Post a Comment

Popular posts from this blog

Four Regional Banks Discuss Settlement Over Foreclosures | Waccabuc Real Estate

-
Image
U.S. state attorneys general are pressing four banks to accept a legal settlement over botched foreclosures similar to a deal reached with larger competitors this year, according to three people briefed on the matter. U.S. Bancorp (SFBC) , PNC Financial Services Group (PNC) Inc., SunTrust Banks Inc. (STI) and HSBC Holdings Plc (HSBA) have held talks with state and federal officials who investigated claims that loan servicers mishandled foreclosure documents, according to the people, who spoke on condition of anonymity because the talks are private. U.S. Bancorp Said to Join PNC in Talks on Mortgage Settlement Jeff Kowalsky/Bloomberg Mortgage servicers typically handle billing and collections, as well as foreclosures when borrowers fail to pay. Neil Brazil , a spokesman for HSBC’s North America unit, said in an e-mail that the London-based lender has conducted “preliminary discussions with its bank regulators and other ...
Read more

Bedford Corners Real Estate by Robert Paul | 3 Perks of Google+ for Doctors: Spend a Little Time, Make Big Online Marketing Gains

-
Image
For doctors trying to reach their patients online, using Google+ can provide surprising marketing benefits that help them be more “findable” on the web. Consider that 44 percent of all Internet users search online to find information about health professionals, and suddenly the importance for doctors of having a good online presence should be more clear. In this article I’ll discuss three reasons why I think that, if you participate in Google+, the newest social network, you can improve the chances your name will come up when prospective patients search for something you’ve written about. If you’re not a doctor but you do know that many prospective clients use the web as a way to find you and your competitors, this article will also be relevant to you. 1. Rise in the Rankings First, participating in Google+ gives doctors an advantage because content you share on Google+ has an “edge” against other stories. That’s right–Google (the search engine) likes stories that’ve gotten sha...
Read more