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Posts Tagged ‘real estate’

A Look at the Housing Market in Fresno

June 11th, 2010

There are now only a little over five hundred thousand residents at a median income of around 35k living in Fresno, CA. The housing market is considered by many residents and Realtors alike to be the most reasonable in the entire state of California. The housing market is also considered to be a modest one. The median home price is around $200k, with many being listed for around $100k. Although this makes the housing market more active than in many parts of the state, buyers may wind up in bidding wars for REO properties. Many of these properties are currently listed at or below $100k and investors and traditional home buyers alike are rushing to take advantage of this. The homes in most of Fresno are considered more mid level in design and location as opposed to high end homes.

There aren?t very many homes on the market right now in Fresno. In March of this year, there was less than two thousand homes on the market. That?s a small listing inventory, compared to the rest of California. With only a small number of homes being on the market, it?s truly the right time for a traditional seller to list their home. Realtors are also finding that those who are fortunate enough to have a high FICO score, are not having a very hard time getting loan approval. Many of these home buyers are also able to purchase their Fresno home with only a 5% down payment. The community boasts a very relaxed atmosphere for most of it?s residents and is located in the heart of California. The populace is very diverse as well. If you buy a home in Fresno, you?re only a short drive from recreation spots like Kings Canyon and Yosemite park. You?re also very close to Los Angeles and San Francisco. With the Fresno housing market being well below the market in relation to the aforementioned premier cities, it?s really a great option to purchase a home now, if you desire to live in California.

A Look at the Housing Market in San Jose

June 4th, 2010

photo credit: roarofthefour

San Jose is the third largest city in the state of California. Therefore the real estate market in this city is important to the states real estate health on the whole. The median home price for homes in this city was over half a million dollars at the end of April, 2010. There are several homes in the 75th percentile that are very close to a million dollars. In the first quarter of the year the sales price in relation to the homes list price has been over 100%. This is a very good indicator when it comes to what home buyers are willing to pay for their homes in San Jose.

In the month of March homes sales were up 40% from the previous month. The market truly seems to be stabilizing at the very least in San Jose. Many home buyers who have funds for high end real estate will find incredible values at this time. There has been a problem for home buyers obtaining the needed loans to purchase homes; however this is not unique to San Jose. The city has also experienced some very low appraisals for its? homes on the market.

For the month of May, the state of California is offering a tax credit for new homes purchased by first time home buyers. The credit will be 5% of the purchase price or $10k; whichever is the least amount, after calculating all sales figures. This could boost sales of homes in the region significantly as the credit will stay in effect for any closings done before January of 2011.

You may want to consult with a qualified Realtor purchasing in San Jose, as its? a city of neighborhoods. Some of the distressed properties are not selling as fast as Realtors would like. There are some high tech companies in the area that are a draw for those seeking jobs. It?s also significant to note that the city lies near the San Adreas Fault, which is the source of possible earthquakes. When buying real estate in San Jose, earth quake insurance must be considered. A knowledgeable real estate agent will be able to give even further information about the nations 10th largest city: San Jose, CA.

A Look at the Housing Market in San Francisco

May 28th, 2010

photo credit: Rev Dan Catt

The real estate market in San Francisco is struggling to recover. Although leading economists seem to think that the worst of the area’s real estate problems may be?over, the current market seems to indicate that there are varying degrees of recovery. Within the San Francisco area, some areas have turned the corner, while others are still struggling to recover. Lower interest rates are given as one reason for the current upturn in the real estate market, along with the beneficial effects of both the national and California tax credits. These factors are working together to make housing more affordable and attractive, which is starting to attract buyers now that the country’s overall economic crisis appears to be stabilizing.

Fortunately, real estate foreclosures are becoming less of a dominant influence. Although there is certainly no shortage of foreclosed properties on the market, there are signs that traditional real estate sellers and resellers are starting to re-enter the field. As the market continues to improve, the real estate situation will continue to strengthen for sellers. Mortgage brokers in the area report that business is picking up, with an increase in purchases and traditional real estate sales. In fact, although many feel that it is still basically a buyer’s market in the San Francisco area, the situation is definitely strengthening for sellers as well.

Of course, the recent improvements in the market are still in the early stages. The unemployment rate in the San Francisco area is still high, and the risk of foreclosure remains for many people. Real estate investments made at this time should be viewed as more of a long term investment, since it is unlikely that the quick escalation in home values that occurred in the early 2000s will return anytime soon. Of course, there is still money to be made for talented investors who have the ability to quickly fix up and flip homes. However, most investors are still proceeding carefully and factoring in their own financial situation, when considering the currently favorable interest rates and tax credits.

The real estate market in the San Francisco area is difficult to state in generalized statistics, due to the many micro-markets that seem to exist. However, overall the prices for single family homes, although still below prior levels, are showing an increase in most areas. The sale of single family homes in March of 2010 was up overall when compared to the same time last year and March sales were up over February sales. Loft and condo sales are also up over last year, with March sales up over February. The median price for homes in San Francisco is a little over $600k and has increased a bit during this first quarter. The average number of days that a property stays on the market before it sells has declined, which is also a good sign overall in regards to the area’s real estate market.

A Look At The Housing Market in Seattle

May 25th, 2010

photo credit: brewbooks

Seattle is best known for start up companies that have gone to the top of the charts and for being a community of artists as well as musicians. For many years Seattle has been ahead of it’s time in being diverse and recognizing and celebrating the talents of different peoples and cultures. While this has been a big draw to those wanting to raise a family in such a great place, the actual weather in Seattle, with its constants rains and often dreary skies has been a bit of a deterrent. So let’s examine how has the Seattle real estate market is doing currently?

Well Seattle is on the map to participate in the first nationwide realtors open house. On April 10th and April 11th there will be open houses nationwide and the hundreds of homes on sale in Seattle will be part of this group. This is a push to get sellers interested in what’s out there in Seattle and to make purchases quick. Later this month we?ll be able to draw some conclusions as to whether this massive push to create interest in the real estate market in Seattle was a success, inconsequential or a failure.

It is estimated that there will be sales of close to 15 hundred homes in the month of April. That is better than most markets in the U.S. There has however been a 24% increase in foreclosed homes on the Seattle market. However analysts say that the month of April is truly the bottom for Seattle and there’s only success and continued growth from here. That’s extremely encouraging as many metropolitan areas are still very shaky and few are apt to make such strong predictions.

The increase in traffic to Seattle open houses, even before the nationwide open house push, is as good indication that Seattle’s real estate market is strong and will gain momentum. Many in the Seattle real estate market are encouraging those who want in, to buy now before home prices become out of reach. Yes, Seattle’s real estate market is doing quite well.

Are You Ready To Invest Again?

February 8th, 2009

If you or your company chose to stop investing in new properties as a response to recent uncertainty in real estate markets, at what point will you continue investing toward long term goals? According to Ronald Oral in MarketWatch, the US Government is hoping that you’ll restart spending soon.

In a move Presidential economic advisor Lawrence Summers hopes will go a long way to sparking economic renewal, plans are being submitted for a federal “bad bank” that picks up toxic mortgages from other banks. The hope is that such a bank will remove much of the uncertainty in the mortgage and loans sector, inspiring private investors to pour money into banks that will then offer loans to eligible buyers.

For many large property investors, the recent downturn has been taken in painful stride. For smaller, more personal ventures, tightfisted banks have brought investment projects to a screeching halt. By offering banks a way to free up funds, the Treasury has found a way to assure newly risk-averse bankers that the financial world is going to keep turning. You will continue to hear talks of the “next great depression” and “endless recession” for some time, but there is tremendous value in being able to look back at how banks failed in the past in the hope of making them work for the future.??photo?credit:?epicharmus

Save Money, Look into Selling your own Home

January 20th, 2009

shutterstock_22239283 Most people think of making money when they sell their home. And while many people are right in this regard others are not. Remember, there are a lot of costs that go into selling real estate. One of the most overlooked is the fee (commission) that you will pay your real estate agent. Fortunately, there is a way around this and it is known as selling your home by owner. In other words you are the one selling your home; you don?t hire an agent. In turn, the six percent (or more) that you would pay an agent stays in your pocket. As you can imagine, this is a large chunk of money no matter how much your home sells for.

While there is nothing wrong with selling on your own, especially since it can save you money, this process can bring stress to your life. When you work with a real estate agent you are not doing much except keeping your house in good condition and communicating from time to time. Your agent is the one in charge of marketing, taking people through your home, etc. But if you don?t have an agent this is your job. Are you up to the task? Is it worth the money that you will save?

Before you decide to put a ?for sale by owner? sign in your yard consider what goes along with this. Weigh the pros against the cons to see if this is the best way to move forward.

There is no arguing that you can save money by selling your home without an agent. But at the same time you also need to know that this puts you fully in charge of your situation. Are you willing to take on this responsibility without professional help?

Make Money in Student Housing

July 21st, 2008

photo credit: blakespot

Yes, the days of the quick flip are probably gone for quite a while, but there is still money to be had in the real estate market. Rentals are gaining momentum again, but if you want a sure bet, go for the student market. (more…)

Bathroom Updates Earn More in Resale

July 19th, 2008

photo credit: celinet

If you want to improve your home’s resale value then it’s time to head to the head, the privy, the loo, or the bathroom; whatever you want to call it, it’s where you’re going to get the most bang for your buck. A full scale bathroom renovation is more likely to recoup the expenses in resale than any other room in the house, but even a smaller bathroom update can attract future buyers and freshen the entire home’s feel. (more…)

The Cold Summer Days of Real Estate

July 18th, 2008

photo credit: suchitraprints

Summer may be sizzling outside, but it is a notoriously cold time for real estate. Not many people are thinking about moving when they can spend time outdoors enjoying the weather and when they?re too busy hauling kids all over the place. (more…)

Common Problems at Real Estate Closings

July 18th, 2008

photo credit: ctrigger

If you have ever bought or sold a real estate property then you know that this transaction is a situation akin to that old saying that “it ain’t over ’til the fat lady sings”. People who are new to the process may believe that the real estate purchase is basically complete when the negotiation has been completed and the closing date has been set. However, veterans of real estate sales know that there are a whole lot of things that can go wrong at real estate closings. Until the closing is over and the transfer of the property is officially complete, neither buyer nor seller should assume that the deal is certain to go through. (more…)