Good News From The Real Estate Bust! – End of Subruban Communities

December 20, 2009

The housing crush has had a range of side effects across the nation. However, with more and more new home developments struggling to fill the new properties, a new phenomenon has appeared. There are fewer and fewer new suburban developments showing up on the fringes of communities.

Expansion that was so rampant in the real estate boom has suddenly disappeared or stalled midproject, leaving empty houses gaping at passerbys.Some of these communities are filled with homes that are in foreclosure which makes it harder to sell a home next door. Home owners have vacant lots next to them and they need to stop foreclosure themselves.

What are the pros and cons to the recent disappearance of these suburban communities? Besides the obvious financial troubles with the construction companies associated with these areas, there is an impact for the local homeowners as well.

With fewer inhabitants and stalled increases in the homeowners to these commuter communities, morning commutes into the city are less than what might have been if these suburban areas had filled. Enticed by lower prices and more house available through these suburban communities, more and more homeowners looked to purchase these properties during the real estate boom years. However, as the real estate market has stopped, these homes are not being filled, making the commute to the city a little easier.

Areas like Prince William County have shown the impact of this suburban community disappearance. With a deflated real estate market and increasing gas prices, the foreclosures have pushed median home prices down 32 percent in just the last year alone. Fewer individuals are on the interstate and more are crushed into crowded buses headed to Washington D.C. This area of the county has seen the impact of tightened credit restrictions and fewer buyers. The bubble has popped here and the impact was swift and sudden.

Zillow recently performed an analysis of markets to determine what has happened to the inner and outer suburbs in major cities nationwide. What they found was very interesting. Essentially, the prices for inner suburbs, those within a ten mile radius from the center of the city had changed little. However, as the radius grew larger and larger as far as fifty miles from the center of the city, the prices dropped drastically.

Of course, if the city was close enough to another major metropolitan area such as the case with Washington D.C. and Baltimore, for example the prices would begin to rise again as proximity to the neighboring town increased. Other cities proved the opposite reaction. Some areas like Atlanta, Dallas and Detroit that often have rough and tumble downtown areas still saw improved prices in the suburbs far away from the center of the city. Detroit has a weak economy in the center of town, making homes here less desirable than the benefits offered in the surrounding communities. Atlanta, on the other hand, has had a number of premium condos built that has offset the nearby home values.

An oversupply of new homes in the suburbs is affecting the existing home communities nearby. As fewer and fewer new home developments are being purchased, these properties are drastically reducing their prices to get the homes sold. Oftentimes, these price drops ultimately cause the entire neighborhood to lower prices because the competition is all around.

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Falling Houseing Prices Continue to Rule The Economic World

August 6, 2008

When will the falling house prices finally plateau? This question is on the lips of a number of real estate market analysts and investors who are looking for the promised turnaround in a housing sector that continues to disappoint. Although regulations are becoming more stringent in the lending market and the real estate sector has seen some overall positive trends, the big factors of foreclosures and a reticent buyer attitude has continued to make property prices fall.

Some home analysts are wondering where the bottom prices are. For millions of American homeowners, the same question is being analyzed. With a stalled real estate market, homeowners are sitting tight, waiting for the storm of failing prices to past. While they wait, their home equity is slowly sliding by and the value of their home dips more and more. Many potential home buyers have decided to wait on the sidelines rather than risk selling their home for too little of a profit. And for those individuals who are in the market for their first homes, the unsteady market has played a role for these non-homeowners as well. The ability to secure a mortgage, and establish a good rate, has proven to be trickier as the market continues to spiral downward.

Last week, the National Association of Realtors stated that the median price of homes decreased 6.1% compared to a year ago. Sales from the previous month had also fallen 2.6%, which was a higher percentage than had been previously estimated by experts.

What hope lies on the horizon for home buyers and sellers alike? Fortunately, there are major housing packages that are currently in Congress that can help to turn the situation around. A beneficial package was passed by the House last week that would boost the market by assisting first-time home buyers.

However, analysts state that there are a number of factors that could make the housing market go up or continue to fall in the future. One of these factors is foreclosures. The increased wave of foreclosures has given banks a higher inventory of these properties. In turn, the banks have become eager sellers, wanting to get their foreclosed properties off the books as quickly as possible before prices fall again. However, the surplus of motivated sellers and a stale feeling coming from the potential buyers has locked a number of potential sales. As long as the lock continues, the prices on the properties themselves continue to drop down.

Rising energy and fuel costs coupled with poor mortgage situations have been to blame for the rise in foreclosures. However, so long as this trend continues, the drop in prices will follow suit. In addition, there is the question of over-saturation. During the real estate boom years, new housing developments sprang up quickly and were bought even faster. With the halt in the housing market, however, these projects are now additional surplus with reluctant buyers, leaving these homes vacant or worse, unfinished. As long as these trends continue, the prices in properties will continue to drop until more positive steps are taken.

If you are thinking how can I sell my house fast to get out from under this large mortgage, contact your local we buy houses professional. They existing in every major metro area and will give you an offer for your home. Their service is free and there is no obligation for you to accept their offer.


The Lack of Foreclosure Help – Sell My House in Georgia

July 23, 2008

Its been debated. Its been argued. Now, after more than a year of debating, Congress seems set on passing a bill that will help to stop the increasing numbers of home foreclosures in the real estate market. This bill would hopefully stabilize a very shaky real estate and housing market, and benefiting the economy as a whole.

The impact of the rising foreclosures on the overall economy has been widespread and wholly negative. Cities like McDonough Georgia, Stockbridge Georgia, Atlanta, and Augusta Georgia, are far from being affected. As more and more homeowners realize they cannot afford the ticking time bombs that define their mortgages, the number of defaulted mortgages increases. The government has decided to finally step in and provide assistance that will prevent more foreclosures in the future, as well as assisting those individuals in need of help right now.

However, housing expert analysts state that even if the latest bill passes in Congress, the most optimistic forecasts show that only 400,000 of the ailing 3 million homeowners will be saved. The rest will still be stuck in the poor economic state they have found themselves in. In other words, the bill will alleviate some of the troubles, but will certainly not be enough to stem the tide of foreclosures overall.

The latest news coming from Fannie Mae and Freddie Mac have complicated matters for the bill and for homeowners alike. The Bush administration has added on assistance for these government backed sponsors to the housing bill, which has caused some negative reactions within the government, particularly among Republicans.

The increase in foreclosures has caused an overall decline in home prices. Since the majority of a homeowners overall financial portfolio is in their home equity, a downturn in home prices has dictated a loss in overall economies for families across the country. The addition of vacant homes and slower housing market has also left many construction companies and development planning business in the lurch as fewer and fewer new home sales are being reported.

One proponent of the new housing bill suggests that 4 billion should be spent in communities with a high number of vacant homes to buy and refurnish these properties. The idea behind the funding would allow these properties to be rented and keep them from becoming the new homes of vagrants, drug dealers and homeless people. The presence of these empty homes can bring down the overall value of a neighborhood, affecting even those homeowners that have not defaulted on their mortgages.

Opponents to the bill argue that putting tax dollars to buy foreclosed homes helps only the ailing lenders, but not the overall homeowners who have lost their home and equity. At the end of the day, the 4 billion would go towards these businesses rather than the citizens and homeowners who need it most. A better use of the money, opponents state, is to revise mortgage costs and help them to refinance their mortgages to keep their homes and stay afloat in the troubled market. Overall, efforts are being considered to help the failing housing market and those homeowners struggling to make their monthly payments.

If you are currently thinking, how can I sell my house in McDonough Georgia, sell my house in Stockbridge Georgia, sell my house in Atlanta, or sell my house in Augusta Georgia, then consider contacting your local home buyer. These professionals exist in every major metro area and are real estate professionals. They are real estate investors who solve complicated real estate selling situations and offer hope to those Georgia home owners who are about to loose their house.


Tips To Sell My House

June 18, 2008

Although the real estate market might be a bit slow right now, there are always things you can do to speed up the sale of your home and you dont have to spend a ton of cash to make it happen. You can find small amounts of well spent cash that will turn your property into a show stopper that everybody will want to buy. You need to improve your chances of selling and get the best price possible for your new home.

If tons of cash comes to mind when you think of the word home renovations, think again. Although the big home renovation projects will cost you, there are a number of small cost choices that can have a big impact on the sale of your home. Typically, some of the most effective fix up quick tips are also the cheapest and have the biggest impact on the future sale of your home.

Stand outside in the front yard of your house facing your property. What do you see? Now pretend youve never seen the house before. What stands out? Do you have weeds? Chipped paint? A messy looking landscape system? Are there cracks in your driveway? When a potential homebuyer pulls up to your front door, they are immediately making judgments in their mind. Control that first impression judging with some lively, fresh landscaping in the front yard. Buy bright flowers or trim the hedges. If you need to clean your gutters or declutter your front yard, this manual labor can add dollars to your sale price and make it more likely to sell. Real estate agents call it curb appeal, but any savvy homeowner will just call it making a great first impression.

How does the paint currently look on the outside of your home? If you cant afford to give your entire home a new, fresh look, start on the doors and window trim. A quick new paint job in these areas can go a long way to making your home look brighter and more inviting. While you are working on the windows, be sure to clean the panes to make them sparkle. Remove any torn or old screens and make sure that the exterior lights work. Potential homebuyers could drive by in the evening to see the neighborhood and you don’t want your property to be dark and dreary.

Move onto the inside of your home. Are there any persistent smells? If you are trying to sell your home, you will want to cover up any bad smells like greasy foods, cat litter box or other troublesome odors. Many real estate agents will suggest baking cookies or bread before a visit, lighting candles before you show your home and numerous other tricks to ensure a positive smell when you future buyers walk through the door. One rule of thumb, however, is that you dont want to overwhelm them with any overpowering smells good or bad. Remember that a little bit goes a long way here.

The trick to selling your home is that you want to have a great impression from start to finish. You want it to be clean, obviously, but you also want to remember that your future buyers are experiencing your home from a variety of different perspectives.

If you need to sell your home quickly and do not have any cash to fix up your house contact your professional home buyer. You do not have to pay any money to receive an offer on your house and you have no obligation to accept the offer.


Hidden Cost of Buying a Foreclosure House

June 3, 2008

Most real estate investors clap their hands with delight when they see a foreclosure home that is ready to move in. After all, a well-kept foreclosure home can be the deal of the lifetime.

Right now, there are a great deal of distressed homes on the market. Foreclosures can be a great deal for homeowners how are looking to buy a house. With the rise of foreclosures on the market, more and more foreclosure opportunities are available for real estate investors and home buyers. With this increase, there are more and more properties that are catching the eyes of investors and property buyers.

However, a startling new trend is starting in the world of real estate investing. Although many consumers and potential homebuyers are interested in seeing a foreclosure, the actual sales on these foreclosures can stall. Foreclosures make consumers nervous and jittery. Although people are willing to look at the foreclosed home, they are less likely to buy it with the inability to negotiate changes or upgrades with the property.

If you are considering purchasing a foreclosure, you need to know the hidden tricks to buying the property. A foreclosed property does not allow a home inspection or negotiations. If you have a wall in the kitchen painted in bright pink, you’re stuck with it. The bank wants to get rid of the foreclosure property and if you want to negotiate, they will just go with the next consumer who is interested in the property and not negotiating.

In addition, studies have shown that nearly 70 percent of future homebuyers know there are hidden risks and costs associated with a foreclosure. Some of these negative risks include the horror of the unknown costs, having the foreclosed home lose value or losing the purchase price entirely.

When should you consider buying a foreclosed home? If you are a real estate expert with substantial construction knowledge, you can feel assured that no matter what might come your way, you can handle it on your own. When you start requesting that professionals come to your home, the cost of labor will add up, making the savings that you earned in the purchase price disappear overnight.

If you have expert assistance in the real estate market, foreclosure homes can be a great choice. With the expert advice, you are less likely to lose your investment. Also, use this real estate knowledge to your advantage when you analyze the market and neighborhood that your foreclosed property is located within. If you can analyze current and last years home values, you can determine what you can hope to earn from your investment.

Getting a home inspection on your foreclosed home is imperative. You can find and reduce a number of the hidden costs up front when you have an inspector highlight the big problems immediately. Also, if there are any unique architectural upgrades, be sure to look at those thoroughly because these structural changes can be your biggest risk in the future.

If you are gong through a foreclosure on your house and thinking house can I sell my house fast to stop foreclosure, contact http://www.ExpertHomeOffers.com