| Real Estate & Property Management Services

Foreclosure, REO Home Prices Rise

September 30, 2010 February 20, 2016 National Association of Realtors Market Updates, Real Estate, Residential

Average sale prices for homes in foreclosure and those owned by banks rose 1.6 percent in the second quarter compared to the first quarter and 6.1 percent year over year, according to RealtyTrac, a foreclosure marketing service. The average price of these homes in the second quarter was $174,198 nationwide, but was significantly higher in...Continue reading→

Would Lower Market Rates Pump Up Sales?

September 29, 2010 February 19, 2016 National Association of Realtors Home Finance

Will mortgage rates ever drop to 0 percent? Zero percent financing has long been a loss leader in the automotive industry, but Keith Gumbinger, vice president of HSH Associates, a provider of mortgage information, says that scenario is unlikely. You’d have to find an investor who would buy a security with a zero return –...Continue reading→

Owners Spending Less on Housing

September 29, 2010 February 19, 2016 National Association of Realtors Buying, Real Estate, Residential

The percentage home owners with mortgages who spent 30 percent or more of their household income on housing, including mortgage payments, taxes, insurance, and utilities, was 37.6 percent in 2009, almost unchanged from 2008. At the same time, the median home price dropped about 6 percent, according to data from the U.S. Census Bureau. Renters...Continue reading→

What’s New in New Housing Design

September 27, 2010 February 19, 2016 National Association of Realtors Newly Built

Here are the products grabbing the attention of the home building and remodeling industries, according to Bill Millholland, executive vice president of sales and marketing at Case Design/Remodeling in Maryland, and Jamie Gibbs, a New York-based interior designer: Appliance Drawers. Small warning drawers, modest-sized dishwasher drawers for small loads, refrigerator drawers and microwave drawers. Counter-depth...Continue reading→

Recommended Lenders

September 24, 2010 February 19, 2016 Will Nesbitt Featured, Franklin Park, Home Finance

I'm often asked for recommendations for financing. First-time home buyers often don't know where to begin, but even veteran purchasers like to know who I suggest. This is also important for relocation buyers. Condo Alexandria\ Nesbitt Realty never makes any money off of loans and our only goal is to see that your transaction happens...Continue reading→

Sellers Quickly Transform Property with Paint

September 22, 2010 February 19, 2016 Will Nesbitt Real Estate, Residential, Selling, Tips for Sellers

The best way to update a property is to paint it. It’s a job that many sellers can do themselves. Here are six suggestions for making the work go quickly. Move the furniture. Get as much furniture as possible out of the way, and then cover what’s left with plastic drop cloths held in place...Continue reading→

Housing Starts Rose in August

September 21, 2010 February 19, 2016 National Association of Realtors Newly Built, Real Estate

Housing starts rose 10.5 percent in August to an annual rate of 598,000 homes, the most since April, the Commerce Department announced Monday. Housing starts were up 2.2 percent in August compared to the same month last year, while permits decreased 6.7 percent. Construction of single-family houses rose 4.3 percent to a 438,000 annual rate...Continue reading→

Housing Affordability: A Possible Good Omen

September 20, 2010 February 19, 2016 National Association of Realtors Home Finance, Market Updates, Real Estate

Amid all the media reports on how housing is still “in the tank,” one piece of news seemed to have escaped many of the pundits. Housing affordability could possibly reach an all-time high of near 200 in the second half of this year. That is, a household making the median income would have twice the...Continue reading→