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From the yearly archives:

2010

7 Cities Hit Hard by the Recession

by Tayeb Realty GroupJune 4, 2010 Foreclosures

Seven U.S. cities, mostly in older, industrial areas, are facing economic problems similar to those of Greece and Spain. Moody’s Investor Services and Standard & Poor’s have identified debt pressures in the following cities as particularly heavy: Harrisburg, Pa. Woonsocket, R.I. Detroit Pontiac, Mich. Harvey, Ill. Littlefield, Texas Central Falls, R.I. When cities default, vendors, [...]

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Building a Home Is a Bargain These Days

by John TayebJune 4, 2010 home improvement

Builders, designers, and architects say now is a great time to build a new custom home or remodel an existing one. Not only are there plenty of unemployed and under-employed workers available, but also property is for sale at bargain prices and construction materials are at bargain levels. “It makes a lot of sense right [...]

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Mortgage Application Volume Down Again

by Tayeb Realty GroupJune 4, 2010 Housing Market News Update

Applications for mortgages to purchase homes declined 4.1 percent last week compared with the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association. On an unadjusted basis, applications for purchase money decreased 5.2 percent compared to the previous week and were down 16.8 percent compared to the same week a year [...]

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Construction Spending Rises, Builders Optimistic

by John TayebJune 3, 2010 commercial real estate

Construction spending rose 2.7 percent in April among residential, government buildings, and industrial segments.Construction of offices and retail declined. Ian Shepherdson, chief U.S. economist at High Frequency Economics, down-played the figures, saying the government tax credits drove residential increases and nonresidential activity is unreliable. “We expect a downward revision next month,” he said. But home [...]

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Surge in Pending Home Sales Continues

by Tayeb Realty GroupJune 3, 2010 Foreclosures

Pending home sales have risen for three consecutive months, reflecting the broad impact of the home buyer tax credit and favorable housing affordability conditions, according to the NATIONAL ASSOCIATION OF REALTORS®. The Pending Home Sales Index, a forward-looking indicator, rose 6.0 percent to 110.9 based on contracts signed in April, from an upwardly revised 104.6 [...]

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Hot Dining Hub: Outdoor Kitchens

by Tayeb Realty GroupJune 2, 2010 home improvement

Outdoor kitchens are increasing in popularity. “People have a higher expectations for their exterior spaces since HGTV came around,” said Scott Redmon, owner of Alfresco Living in Maitland, Fla. Besides a grill, fired by gas, wood or charcoal, more home owners are adding keg-tappers, wine chillers, icemakers and warming cabinets. Outdoor kitchen designers also recommend [...]

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Vacation Rental Market Continues to Improve

by John TayebJune 2, 2010 Foreclosures

The vacation rental market has improved this year compared to 2009. “Some companies have reported advanced bookings have increased as much as 60 percent to 80 percent over last season,” said Alex Risser, president of the Vacation Rental Managers Association, which manages 150,000 vacation rentals. Increasing demand doesn’t mean that potential renters are willing to [...]

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May Means Moving Time – Tips For Successful Moving

by Tayeb Realty GroupJune 2, 2010 home improvement

More people move in May than any other month, according to the U.S. Census Bureau. One in eight people change their address in the course of a year, down slightly this decade compared to the previous decade. Two-thirds of moves are within in the same county. Renters are more likely to move than home owners. [...]

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Companies Expand Relocation Policies

by John TayebJune 1, 2010 Housing Market News Update

Companies are changing and expanding relocation policies to accommodate employees who otherwise are refusing transfers because they don’t believe they will be able to sell their homes for enough money. Worldwide ERC, a trade organization for human resource associations that oversee, manage, or support employee transfers, surveyed 129 companies in 2009. The survey found: 28 [...]

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Owners in Default Stay in Homes Anyway

by Tayeb Realty GroupJune 1, 2010 Foreclosures

An increasing number of home owners in foreclosure continue to live in their homes, mostly ignoring the foreclosure action and refusing to pay anything. The average borrower in foreclosure is unlikely to be evicted for 438 days, says LPS Applied Analytics. LPS says more than 650,000 households haven’t paid their mortgage in 18 months, and [...]

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