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- RISMedia - http://rismedia.com -
Stabilization in Second Quarter Metro Area Home Prices with Strong Sales
Posted By susanne On August 12, 2010 @ 3:27 pm In Consumer News and Advice,Home Value News,Homeowner's Toolkit,Real Estate,Real Estate Information,Real Estate News,Real Estate Trends,Today's Marketplace,Today's Top Story
RISMEDIA, August 13, 2010—The real estate trend in firming home prices solidified in the second quarter with more metropolitan areas showing increases from a year ago, aided by a surge in home sales driven by the home buyer tax credit, according to the latest survey by the National Association of Realtors. In the second quarter, 100 out of 155 metropolitan statistical areas (MSAs) had higher median existing single-family home prices in comparison with the second quarter of 2009, including 14 with double-digit increases; two were unchanged and 53 metros showed price declines. In the first quarter of this year, 91 areas had higher prices, while only 26 MSAs experienced annual price gains in the second quarter of 2009.
The national median existing single-family price was $176,900 in the second quarter, up 1.5% from $174,200 in the same period of 2009. The median is where half sold for more and half sold for less. Distressed homes accounted for 32% of second quarter sales, down from 36% a year ago.
Lawrence Yun, NAR chief economist, said the correction in home prices appears to have ended in 2009. “All year we’ve been seeing relatively flat national home prices, which appear to be supported by market fundamentals,” he said. “Prices in some areas remain below replacement construction costs, so even with an elevated supply of existing homes on the market, we don’t expect any consequential movement in home prices for the foreseeable future. Very low inventory of newly built homes will also help to support home values.”
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- RISMedia - http://rismedia.com -
Exterior Spaces – Outdoor Kitchens Become Home’s Social Hub
Posted By susanne On July 24, 2010 @ 12:03 am In Foreclosure Process,Home Owner News,Home Value News,Homeowner's Toolkit,Mortgage Rates,Real Estate,Real Estate Information,Real Estate News,Real Estate Trends,Today's Marketplace,Today's Top Story,Today's Top Story - Consumer
RISMEDIA, July 24, 2010—(MCT)—The outdoor kitchen is rapidly becoming the social hub of the home, much as the indoor kitchen is the favorite gathering place for family and friends. The trend is especially strong in areas where the climate favors outdoor living almost year-round.
“It’s a hot item,” said Scott Redmon, owner of Alfresco Living in Maitland, Fla. “And the outdoor kitchen is becoming a lot more than a grill and a sink in the corner of the porch. It’s a whole entertainment system. People have a higher expectation for their exterior spaces since HGTV came around.”
Outdoor kitchens are popular because they are fun to live with, said Russ Faulk, vice-president of product development at Kalamazoo Outdoor Gourmet in Kalamazoo, Mich. “They add to the quality of life for the homeowner. Preparing a meal outdoors is not a chore, it’s an occasion, a reason to have friends over and enjoy the process.” In addition, an outdoor kitchen expands a home’s living space and adds to its value, he said. “The return on your investment is comparable to an indoor kitchen redo.”
Since the economic downturn, “People have been unable to sell their homes, so they are starting to upgrade with better landscaping and outdoor kitchens, spending more time at home,” said Sue Fern, manager of the Florida chapter of the American Society of Landscape Architects.
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the Your Home credit guide
As a homeowner, you already know the importance
of good credit. But no matter how hard you try, you may
not be able to maintain perfect credit year after year.
Your circumstance may change, priorities could shift, and
despite good intentions, you could end up damaging your
credit rating.
If you think this is happening to you,
what should you do? First, understand that you are not alone.
Millions of Americans every year discover that their credit
“score,” the numerical calculation lenders use to gauge a
borrower’s creditworthiness, has fallen. Second, educate
yourself. Though mysterious on the surface, the logic behind
credit scores—how they are determined, how they are used
by lenders—is pretty simple, and there are a few steps you
can follow to improve your credit standing.
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What To Look For When Choosing A Real Estate Agent
RISMEDIA, May 2, 2009-If you are a recent seller of real estate, you may have had some difficulty
dealing with the gap between your selling price and your actual net proceeds, as reflected in your final check.
Hopefully, you knew what to expect and factored that into your decision to sell. But, all too often, in the
blizzard of activities involved in transferring real property, the costs of selling are often overlooked or underestimated.
Once all loans and liens are satisfied, the next largest cost is often real estate brokerage
fees. Despite recent declines, property values having did rise rapidly in many markets and that fractional six
or seven percent can equate to some serious coinage. It does cause one to ponder, where does all the money go?
As is often the case, the best value isn’t always the lowest price. Those looking for
real value are more than willing to pay top dollar for top quality. But, the question arises, how does one
determine the elements of full value in real estate services? What should one expect from a professional real
estate practitioner?
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We Are Conveniently Located On Route 9 In The BAYWICK Plaza
(The Super Foodtown Center).
We Specialize In Ocean & Monmouth Counties
Providing A Superior Level Of Informed, Professional Real Estate Service To Sellers And Buyers.
Click Here
for a Complimentary Comparative Market Analysis of your home!
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Our Office Offers A Very Comfortable Atmosphere.
We Welcome You To Stop In And Visit With Us.
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"A Fresh Pot Of Coffee Is Always On."
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