By Les Christie @CNNMoneyAugust 22, 2012: 1:20 PM ET Homebuyers are stepping up their purchases before rising prices and mortgage rates make buying more expensive. NEW YORK (CNNMoney) — Americans seem to be stepping up their homebuying while they can still find bargains. July home sales rose 2.3% from June, and 10.4% from a year earlier, to an annual rate of 4.47 million, according to a report from the National Association of Realtors. The market has been bolstered by low home prices and mortgage rates, according to Lawrence Yun, NAR’s […]
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Foreclosures fall to lowest level since 2007
NEW YORK (CNNMoney) — Foreclosure filings in April fell for the third straight month to the lowest level since July 2007. Total foreclosure activity for April, including default notices, scheduled auctions and bank repossessions, was down 5% from March, according to RealtyTrac. Bank repossessions declined significantly — there were 51,415 repossessions last month, down 26% from a year ago, and about half the 102,000 monthly repossessions at the peak in September 2010. Much of the improvement, however, can be attributed to declines in only a handful of states, especially those […]
Home buying at most affordable level in decades
NEW YORK (CNNMoney) — Buying a home has reached its most affordable level in more than two decades. Nearly 78% of homes sold during the first quarter were affordable to those earning the national median income of $65,000, according to a report released Thursday by the National Association of Home Builders and Wells Fargo. The reason: Home prices nationwide are off about 36% from their peak. Median income has risen by about 10%. And mortgage rates are below 4%. There is one catch for home buyers, however: Mortgage availability. “Homes […]
Land Development!
By Janeen J. Detrick This article will attempt to de-mystify the land development process, so a novice in real estate development can get started as a Land Developer! Any time, even right now, begin building relationships with other real estate investors, or anybody that might have a 401 K or IRA that they would like to make more money on, or anyone that might have money or financial resources. Consider using a Joint Venture Agreement, rather than establishing an LLC with that other partner, or have the two separate LLC’s […]