by Tayeb Realty GroupDecember 24, 2009
commercial real estate
Moody’s Investors Service reports that commercial real estate prices continue to decline, slipping 1.5 percent in October. They were 36.4 percent lower than they were in October 2008 and down 43.7 percent from their peak in October 2007. Calculations are based on repeat sales of the same properties. — Sources: The Wall Street Journal (12/22/2009)
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by John TayebDecember 24, 2009
general
Mortgage applications decreased 10.7 percent last week on a seasonally adjusted basis from the previous week. On an unadjusted basis, the index decreased 10.9 percent. The decrease was about equally divided between refinances, which declined 10.1 percent, and purchases, which decreased 11.6 percent. Compared to the same week the previous year, purchases declined 32.7 percent. [...]
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by Tayeb Realty GroupDecember 24, 2009
Foreclosures
Under new rules from the Federal Reserve Board and the Federal Trade Commission, borrowers who are loaned money at less-favorable rates because of their credit ratings must be notified and given a free copy of their credit scores. Currently, lenders don’t have to offer any explanations. These rules apply to mortgage lenders as well as [...]
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by John TayebDecember 24, 2009
Foreclosures
The new $6,500 move-up Homebuyer Tax Credit is apparently motivating buyers, according to a Campbell Communications survey of 1,500 real estate practitioners. Existing home owners accounted for 41 percent of home purchases in November, up from 38 percent in October, the survey found. “Current home owners jumped at the credit,” says survey research director Thomas [...]
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by Tayeb Realty GroupDecember 23, 2009
general
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by Tayeb Realty GroupDecember 23, 2009
commercial real estate
Books are the perfect gift for buyers, sellers, and real estate dreamers. Here are five suggestions that are good reads for people on your list who want to buy or sell a home for the holidays: 1. Nolo’s Essential Guide to Buying Your First Home, Ilona Bray, Alayna Schroeder, and Marcia Stewart, Nolo publishing, $24.99 [...]
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by Tayeb Realty GroupDecember 23, 2009
general
The economy grew 2.2 percent in the third quarter. The U.S. Commerce Department had previously estimated a 2.8 percent growth rate. Officials attributed the discrepancy to consumer caution, saying that consumers simply didn’t spend as much. Many analysts still believe the economy is likely to improve in the current quarter, growing at an estimated 4 [...]
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by John TayebDecember 23, 2009
Real Estate in New York
The government hopes that the revamped Real Estate Settlement and Procedures Act, which takes effect Jan. 1, will make it easier for home buyers to understand what’s going on at closing. While some industry professionals are enthusiastic, others are dubious that these new regulations will really clear the fog. “I think the net result is [...]
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by John TayebDecember 21, 2009
Foreclosures
First-time buyers often don’t know much about home maintenance. You can help by giving them a maintenance schedule that’ll prevent small problems from turning into big headaches. Our maintenance checklist was compiled with the help of Lou Manfredini, Ace Hardware’s home improvement spokesperson and star of the “Mr. Fix-It” show on Chicago’s WGN-AM radio, and [...]
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by Tayeb Realty GroupDecember 21, 2009
general
The listing price is perhaps the most important factor in how quickly a home will sell. But sellers often don’t understand how you reached your recommendation. If you know how to price a listing effectively, you’re much more likely to succeed in selling that property and making your clients very happy. Get pricing wrong, on [...]
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