Real
Estate Market News & Articles Archive
NEWS: As a professional, I perform quite
a bit of research to stay on top of the market and listings.
Sometimes what I find is technical, sometimes humorous, and
often good information for agent and buyer alike.
Existing Home Sales Explode Record
Realty Times Online July 25,
2005 Existing-home sales surpassed market expectations
and reached another record in June as low mortgage interest
rates and favorable market conditions continued to attract
buyers, according to the National Association of Realtors.
Full
article here.
Is it time to buy, sell, or rent?
Talk of the Nation (National
Public Radio) July 13, 2005 In various cities, soaring
home prices have some people scrambling to buy into the boom,
and others renting in hopes of a bust. Who's got it right?
A news-talk show forum you can listen to online.
Neal Conan, host. Guests: Pam Woodall, economic editor of
The Economist; Elizabeth Razzi, real estate journalist
and author of The Fearless Home Buyer: Razzi's Rules for
Staying in Control of the Deal; Marco Van Akkeren, economist
for PMI Group. Includes a call from a Vineyarder. Listen
here.
Is Your Home Alone?
Keep It Safe When You're Not There
According to the U.S. Census 16% of all homes in this country
were left unattended at some point for an extended period
of time. Your Martha's Vineyard real estate investment is
probably included in this statistic. What would happen if
a pipe sprang a leak in your absense? An eighth-inch crack
can spew up to 250 gallons of water a day, wrecking floors,
furniture and keepsakes. That's why the Institute for
Business & Home Safety created this brochure -- because
when your house needs you the most, you may not be there.
Full
article here.
Low Inflation Threat
Allows Long-Term Mortgage Rates To Drift Even Lower This Week
(Realty Times.com, 7/1/05)
"With still little or no threat of inflation to be found,
long-term mortgage rates this week had some breathing room
and that allowed rates to drift a little lower," said Frank
Nothaft, Freddie Mac vice president and chief economist. "Short-term
rates, though, may be another matter, since the Federal Reserve
is expected to continue raising its target for the federal
funds rate at least a few more times this year."
Full
article here.
Simple
Questions and Answers on Real Estate
Realty Times Peter G. Miller answers some
good questions.
Full
article here.
Is it time to buy Less?
(Realty Times.com, 6/14/05)
This is an interesting article: even the
federal government is beginning to figure out that real estate
is local and that worries about a housing bubble are overblown
-- while worries about risky real estate financing are real.
Realty Times' Peter G. Miller comments.
Full
article here.
Interest
Rates Retain Room to Fall (Realty
Times.com, 6/10/05)
Interest rates for home loans are down
again, for the 10th time in 11 weeks, and there's a good chance
they haven't hit bottom.
Full
article here.
Wrong-Way
Borrowing Threatens Borrowers, Lenders
(Realty Times.com, 6/7/05)
An odd thing is happening. Fixed-rate loans
are being shunned. It's as though they have cooties or some
mysterious curse. Huge numbers of borrowers are opting for
adjustable-rate mortgages -- loans with low start rates but
the potential for higher costs in the future.
Full
article here.
Upper
end market sees huge rise in value
Interesting article about the RISE in home prices at the upper
end of the market --- the very upper end of the market,
plus a nifty slide tour of some of them. Full
article here. (Forbes Magazine
Online)
Average house in US gained 12.97% in resale value in 3rd Quarter
The average house in the U.S. gained 12.97 percent in resale
value from the third quarter of 2003 to the same period this
year, according to new federal data. That annual gain is the
highest in over 25 years, and flies in the face of economists'
projections for a slowdown. Full
article here. (Realty
Times)
2004
Heating prices are going to be up - prepare your home
Change your habits to stay warm and save costs El
Nino is back on the weather front, creating a dual jet stream
and predicting a colder winter for Vineyarders. The price
of crude oil is at the highest level ever, and heating oil
for domestic households is predicted to rise 28% and Propane
will be up 22%. Therefore, it is important to do all we can
to conserve fuel and prepare our homes for the winter months
ahead. Full article here.
New Tax Bill Narrows
A Popular Section 1031 Exchange/Capital Gains Loophole
Tax-free exchanging -- one of the most popular real estate
strategies for investment property sellers -- just took a
modest hit from the federal government. Buried deep inside
the $136 billion pre-election tax bill signed into law by
President Bush are new restrictions on certain Section 1031
exchanges involving conversions of investment real estate
into principal residences. Full
article here.
Long-Term Mortgage Rates Reach Six-Month Low Spurring A Rise
In Mortgage Applications (October
22) Freddie Mac (NYSE:FRE) released the results of its Primary
Mortgage Market Survey in which the 30-year, fixed-rate mortgage
(FRM) averaged 5.69 percent, with an average 0.7 points, for
the week ending October 21, 2004, down from last week when
it averaged 5.74 percent. Last year at this time, the 30-year
FRM averaged 6.05 percent. Full
article here.
Do
you have enough Homeowners Insurance?
Florida is having a difficult year with storms and Martha's
Vineyard is not immune to nature's power. Vineyarders were
sitting on pins and needles wondering if Frances would take
a turn toward the north and attack our little Island. It didn't,
but now there is Ivan and the hurricane season is not
over, so we go back on hurricane watch again. For us it is
not a question of "if", but "when" the
next big Hurricane or Nor'easter will strike, and earthquakes
are not out of the equation in the NE, either. Read an article
here "Do
you have enough Homeowners insurance?" - Broderick Perkins,
in Realty Times
IRS issues final rules on selling
your home less than 2 years from purchase
After many long years of waiting, the Internal Revenue Service
has issued final regulations regarding the tax treatment when
a taxpayer sells the principal residence less than two years
after it was purchased. Full
article here.
"How well am I managing
my credit?"
Buying a home is a complicated process, dependent upon numerous
factors. Most of us will need financing in order to make a
purchase and that begs the question, "How well am I managing
my credit?" A national roll out is scheduled to begin December
2004 and end by December 2005 that will allow consumers, even
though they have not been declined credit, to receive one
copy of their credit report per year free of charge. Massachusetts
already mandates this service. Here
is an excellent website that addresses consumer credit concerns.
"July
extends the long real estate sales boom"
July real estate sales continued the robust pace that has
buoyed prices and put smiles on the faces of tax assessors
for three years now. A total of 60 properties changed hands
in qualifying arm's-length transactions in July. Their total
value topped $51 million, and the average value of a deal
was $858,000. (Full
Article - MV Times 9-23-04)
"Shorefront Property Valuations Skyrocket"
A high-priced real estate market coupled with changes in the
way property assessments are calculated has fueled a sharp
rise in the value of waterview and waterfront property in
Edgartown this year. (Full
Article - MV Gazette, 9-10-04)
"Buyer
Broker Agreement a Win-Win?"
These days many agents will ask their buyers to sign a buyer broker agreement. What does the contract mean for the buyer and the agent? Is it really a win-win situation for all?
"A buyer broker agreement creates no obligation on the part of a buyer to purchase a home; it only creates an obligation for a commission in the event a buyer purchases a home," explains Mike Spilger, a Real Estate Attorney.
(Full
Article)
"Why
vacation-home sales are booming"
U.S. vacation-home purchases hit
a record 445,000 in 2003, accounting for more than 5% of all
home sales, according to NAR. With continued low mortgage
rates and baby boomers in their peak-earnings years, many
feel owning a second home is within reach. (Source: CBS Marketwatch)
(Full
Article)
"Are
We Over-Protecting Home Buyers?"
There's no doubt that more home tests will produce more "problems"
according to columnist Peter G. Miller, who argues it's time
to put testing in perspective. (Full
Article)
"Real Estate's
Hidden Asset"
Some real estate analysts and pundits alike have been forecasting
a real estate bubble for many months. Now imagine that there
really was a real estate bubble. Would it mean steep prices
reductions? Not likely, says columnist Peter G. Miller. (Full
Article)
"Bush Admin announces 'Appraiser
Watch', new protection for homeowners"
The Department of Housing and Urban Development said today
it intends to expand its protection of homeowners by proposing
standards that will hold appraisers accountable for their
performance. Faulty appraisals too often lead to default and
foreclosure. (Full
Article)
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