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Real Estate Trends 2010

Comfortable Laundry Rooms Are a Must-Have

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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Are Pre-Listing Inspections a Good Idea?

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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Will Housing Feel a ‘Saw-Tooth’ Effect?

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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Total Foreclosures Fall, But REOs Rise

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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Decorate Your Unused Fireplace for the Hot Season

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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Are You Ready To Buy A House?

by Tayeb Realty GroupMay 15, 2010 Foreclosures

Before you snatch a great buy on a home you love, your first question should always be: “What can I afford?” No matter what you want in a home as far as age, style, location or size, you could end up with a beautiful, furniture-less house if your mortgage payments eat up more than half [...]

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Report: Minorities Need Better Access to Credit

by John TayebMay 14, 2010 Foreclosures

A report by seven nonprofit housing agencies examined the lending patterns of the nation’s four largest lenders — Bank of America, Citigroup, JPMorgan Chase & Co., and Wells Fargo — and concluded that the foreclosure crisis has seriously reduced lending in minority communities. “The explosion of unaffordable, destabilizing credit in more recent times and the [...]

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When Will the Housing Market Rebound?

by Tayeb Realty GroupMay 14, 2010 commercial real estate

All the signs are there for continued improvement in the economy as well as housing markets, but it will be several years before real estate practitioners can expect to see markets returning to equilibrium, two of the country’s top economists told REALTORS® this week. By the end of this year, practitioners should see 5.4 million [...]

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Mortgage Volume Down After Tax Credit

by John TayebMay 12, 2010 Foreclosures

Mortgage applications to purchase homes declined 9.5 percent last week compared with the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly survey. On an unadjusted basis, the purchase index declined 8.9 percent compared with the previous week and was 0.6 percent lower than it was the same week a [...]

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Transparency Needed for Stable Financial System

by Tayeb Realty GroupMay 12, 2010 commercial real estate

One of the major problems leading to the financial system meltdown was a lack of transparency, a group of analysts and business executives told REALTORS® during the Real Estate Summit yesterday at the 2010 Midyear Legislative Meetings & Trade Expo in Washington, D.C. Institutional secrecy, whether intended or not, made it difficult to get good [...]

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