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Real Estate Trends 2010

Mixed-Income Communities Lack Interaction

by John TayebFebruary 19, 2010 Housing Market News Update

A study of mixed-income housing suggests that residents from different walks of life don’t readily mix, even when they live next door to each other. The University of Chicago study examined three mixed-income developments. Professors Robert Chaskin and Mark Joseph concluded that efforts to create joint activities to bring low-income and higher-income people together were [...]

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Foreclosure Prevention Has Aided 116,000

by John TayebFebruary 18, 2010 Foreclosures

The federal foreclosure prevention program has helped about 12 percent of borrowers who applied for help since the plans were announced a year ago, the Treasury Department says. About 1 million borrowers initiated the application process, and as of January, about 116,000 home owners–12 percent–had their loans modified. But administration officials say another 76,000 applications [...]

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Home Price Reductions Level Off

by John TayebFebruary 17, 2010 Housing Market News Update

The share of homes on the market with price reductions declined to an average of 21 percent as of Feb. 1, according to Trulia.com, which has been tracking the information since April 2009. This is a significant decrease compared to November 2009, when 26 percent of homes had at least one price reduction The total [...]

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Construction Up Along With Builder Confidence

by Tayeb Realty GroupFebruary 17, 2010 Housing Market News Update

Construction of new homes rose to an annual rate of 591,000 in January, up 2.8 percent from December when the revised rate was 575,000, the Commerce Department announced Wednesday. Meanwhile, the monthly home builder confidence scale rose two points in February to 17. The National Association of Home Builders Chair Bob Jones said, “Builders are [...]

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Fourth Quarter Home Sales Surge 13.9%

by John TayebFebruary 15, 2010 Home Buyer Tax Credit 2009

Strong gains in existing-home sales were the predominant pattern in most states during the fourth quarter, with many more metro areas seeing prices rise from a year earlier, according to the latest survey by the NATIONAL ASSOCIATION of REALTORS®. Sales increased from the third quarter in 48 states and the District of Columbia; 32 states [...]

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Vacant Lots Become Hot Property

by Tayeb Realty GroupFebruary 15, 2010 Housing Market News Update

Vacant residential lots are looking better and better to real estate investors. The cost of a finished, ready to build lot, can cost a developer about 25 percent of the finished home price. There are a number of these ready-to-go lots on the market at about half what they actually cost to prepare. Investor groups [...]

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15 Top Retirement Cities

by John TayebFebruary 14, 2010 general

Boomers are willing to move farther than previous generations when they retire, and they are choosing places unlike stereotypical retirement hotspots, says Tom Brokaw in his report on Boomer retirement, airing on CNBC, Thursday, March 4 at 9 p.m. ET. The top places listed by AARP and explored on the show are: 1. Loveland/Fort Collins, [...]

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4 Reasons to Sell Now

by Tayeb Realty GroupFebruary 14, 2010 Home Buyer Tax Credit 2009

Selling a property in this tough market can seem like a challenge. Here are four factors that actually make this a good time to post a For-Sale sign. 1. Sell low and buy low. Because all property values are down, the loss on the property a home owner sells is really only a paper loss [...]

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10 Must-Have Features in New Homes

by Tayeb Realty GroupFebruary 11, 2010 Home Renovations

So what home features are buyers asking for the most in their search for a new home? AVID Ratings Co., a firm that provides surveys and employee training to home builders across the United States and Canada, conducts an annual survey of home buyer preferences. The company found the following hot home features reign supreme [...]

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