Monday, November 16th, 2009
As any good Realtor will tell you, price moves a home. But sometimes Realtors (as well as sellers) are afraid to take their own advice. As housing evaluations have dropped around the country, listing prices have been slow to follow. To get the job done, and your home sold, a price reduction might be in order. However, nothing beats pricing a home correctly from the start. Even with price reductions, you may never fully catch up the the market. No groundhog has popped its head up to officially declare the housing decline over.
Here is a slide show of cities leading the country in price reductions.
DHW asks: Do you see your city on this list?
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Tags: cities, home, home seller, home values, Housing, housing evaluations, housing news, housing prices, listing, price, price reductions, pricing a home, Real Estate, real estate news, realtor, realtors, Sales, seller, sold
Posted in Housing Article, cities, cities leading country in price reductions, home, home prices, home sales, home sellers, house, listing prices, price reductions, realtor, realtors, sellers | 1 Comment »
Tuesday, November 10th, 2009
Critics of the Housing Tax Credit were quieted, if only briefly, when the National Association of Realtors (NAR) released data for third quarter home sales. According to the trade group, home sales increased by nearly 6% over this same time last year. Despite the spike in sales, prices have fallen more than 11% during the same period. The U.S. median existing single-family price for the third quarter was $177,900.
Opponents of the housing tax credit feared an inflationary reaction in home prices. Although housing inventories are down, existing units still outweigh the demand.
NAR chief economist, Lawrence Yun, predicts home prices will stabalize next spring. His prediction may be overly optimistic. Foreclosures and short sales made up 30% of thrid quarter sales. There is no real evidence to suggest foreclosures will take a breather in 2010.
DHW asks: Do you see a bottom to the housing market?
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Posted in Housing Article, home sales, housing tax credit, realtors | 1 Comment »