by Tayeb Realty GroupMay 29, 2010
Real Estate in New York
The near-record low mortgage rates seen during the past few weeks may not be around much longer. Signs of improving economic conditions could lead Federal Reserve Chair Ben Bernanke to raise key interest rates, driving up mortgage rates, says Stephen Stanley, chief economist at Pierpont Securities LLC. The evidence includes more consumers are paying their [...]
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by John TayebMay 21, 2010
Housing Market News Update
MortgageDaily.com reports that U.S. banks and loan firms added 714 net new mortgage-related jobs in the first three months of this year, the second consecutive quarter for industry job growth, compared to a year earlier, when 2,076 mortgage professionals lost their jobs. Nationwide, North Carolina led in first-quarter hiring with 313 net new mortgage jobs, [...]
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by Tayeb Realty GroupMay 21, 2010
Foreclosures
Real estate investors, who call themselves wholesalers, are snapping up distressed properties, often paying all cash and seeking a discount, preferably from a cash-strapped home owner. Then the real estate wholesaler flips the homes — often so fast that he never takes possession of the title. Instead, he signs a contract with the home’s owner [...]
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by John TayebMay 20, 2010
Foreclosures
Mortgage applications declined 27.1 percent last week compared to the previous week, on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly survey. The unadjusted purchase index decreased 27 percent compared with the previous week and was 24.1 percent lower than the same week a year ago. This is the lowest level of [...]
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by Tayeb Realty GroupMay 20, 2010
Foreclosures
Housing prices are expected to increase 12.4 percent between 2010 and the end of 2014, predicts MacroMarkets, which surveyed more than 100 analysts and market strategists. Those interviewed didn’t all see the housing market in the same light. Joseph LaVorgna, a economist at Deutsche Bank predicts that home prices will rise 37 percent by the [...]
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by John TayebMay 19, 2010
home improvement
Convenient and comfortable laundry rooms are an increasingly popular feature among home buyers. Tom Byrne, president of Rockville, Md.-based Chadsworth Homes Inc., says they are more popular than such features as studies and media rooms. “In the past few years, 30 percent of the homes we build … have a laundry room with granite countertops, [...]
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by Tayeb Realty GroupMay 19, 2010
Foreclosures
Pre-listing inspections are not advisable, says June Fletcher, a housing columnist at The Wall Street Journal. She says that while the inspection gives sellers an idea of the home’s strengths and weaknesses, it also requires sellers to disclose those problems that they don’t intend to fix. As Fletcher says, if the seller is “blissfully unaware,” [...]
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by John TayebMay 18, 2010
Foreclosures
Some housing experts are predicting what one calls a “saw-tooth bottom” to the housing market driven by a shadow inventory that may include up to 4.5 million properties. This issue isn’t just bank-owned homes that aren’t yet on the market, but sellers who would like to sell but fear they can’t. “These sidelined sellers closely [...]
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by Tayeb Realty GroupMay 18, 2010
Foreclosures
Foreclosure marketer RealtyTrac reported today that properties in all stages of foreclosure from default notices to auctions and repossessions were down 9 percent in April compared with March. They fell 2 percent compared with April 2009. Also, default notices were down 27 percent year over year. RealtyTrac CEO James J. Saccacio predicted that foreclosures are [...]
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by John TayebMay 15, 2010
Home Renovations
Cold weather has disappeared, but that doesn’t mean your fireplace has to gather dust. Here are some decorating tips for making your fireplace the focal point of the room even when there’s no fire. Arrange candles in the hearth for the fireplace glow without the blazing fire. You don’t have to take wood out of [...]
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