May 9, 2008
A recent survey conducted by a California based real estate company reported a 1.3 percent increase in housing inventory. These are houses that are for sale on the multiple listing service or MLS through the month of April 2008. The survey was conducted on 29 major metropolitan areas across the United States.
The results of the survey show a continued supply of houses for sale on the market in most major metro areas. This increase in housing inventory will further depress home prices. After all, the supply for homes has definitely not increased.
The major cities who saw and increase in the number of houses for sale hit the market were Austin Texas at 7.1 percent, Chicago Illinois with 5.9 percent, Boston Massachusetts with 5.6 percent and Philadelphia with 5.4 percent increase.
Interestingly enough Las Vegas, currently the capital of the foreclosure crisis saw a decrease in the number of homes on the market. This in contributed to many banks accepting shorts sales and selling homes on their books they receive from foreclosure. It is also contributed to the fact that Las Vegas has one of the fastest drop in home prices in the nation.
If you own a home in Las Vegas this news is like a double edge sward. You now may have a better chance of selling your house but you obviously will be selling for much less. In some cases 25 to 30 percent less than you could have sold last year. The good news is the news of a decreased number of houses for sale in your area could be a start of a real estate bottom.
Another interesting fact is the number of home owners who have dropped the sale price on their home. Of the 29 metro cities where the survey was conducted, Orange County California tops the number of homes who had a reduced sale price last month with over 49 percent of the homes dropping price. Other areas that top the home price reduction survey are Las Vegas Nevada, Jacksonville Florida, Bakersfield California, Las Angeles California, Miami Florida, Washington D.C. and Sacramento California.
If you do need to sell your house quickly I suggest you get in touch with a local real estate investor who knows your local market and can buy your house quickly. ExpertHomeOffers.com is a company who connects home sellers with professional home buyers. They have a very large network of real estate investors who are always purchasing homes and increasing their real estate portfolio.
May 4, 2008
This article is to inform home owners of the best way to sell their house given the current real estate market. Everyone knows by know that the real estate market is very slow and anyone who wants or need to sell a home has a very large task ahead of them. The problem is some people need to sell their house, not just want to.
If you are a home owner and need to sell your house for what every reason you do have options. You see, I know that life happens. There are many life changes that can turn your house from your largest asset into your largest liability. If you are going through life changes like, loosing your job, need to stop foreclosure, needing to move out of state, going through a divorce, receiving a home through an inheritance, or any other life change that results in you needing to sell your house, then contact your local home buyer.
Local home buyers are real estate investors who buy houses quickly from people who need to sell them quickly. Many people make the mistake of assuming that real estate investors all need to get large profits from home sellers. This is not true. Even if you own more for your house than what it is worth, you can sell your house to a real estate investor.
Yes, even if you owe more for your house than what it is worth you can sell it. Have you ever heard a real estate agent say that they would buy your house. probably not. Real estate agents are compensated by home sellers paying them a percentage of the sale price of your home. Well if you have no equity how can you pay a real estate agent. That is why if you have no equity you need to contact a local real estate investor who is fluent in short sales and will buy your house.
A real estate investor who is fluent in short sales will negotiate with your lender and buy your house for what you owe. You can walk away from your house after the short sale and not have a nasty foreclosure on your credit. Foreclosures last 10 years on your credit you know. That means not being able to buy another house, cars, getting credit cards, etc. When you finally convince a company to lend you money you will pay a higher interest rate because you have a foreclosure on your credit.
So, you only need to due one thing to get the process started. Complete our home seller form and we will get you in contact with a professional home buyer in your area. You definitely need to make sure you work with a professional. Don’t make the mistake of calling those we buy houses signs on the side of the road. Work with a professional and you will have a very good change of selling your house fast.
April 16, 2008
Now that the foreclosure epidemic is in full swing, it is not just home owners who are getting slapped in the face. Hundreds of tenants renting homes across the nation are being evicted and forced to move with little or short notice from the banks.
The renters have no idea the homes they are living in are in preforeclosure status and are scheduled to soon be sold at public auction. The renters only find out when they come home to a notice posted on the front door stating they have 30 days to move or be forced to leave the house.
It all started when investors purchased houses as investments speculating they would go up in the near future. They purchased high end homes with larger price tags so they could make more money in a shorter amount of time. After all when housing prices go up by 10% you are much better off to having a $500,000 house than a $100,000 house.
Now many of those so called easy money real estate investments are falling into foreclosure and the banks are the ones evicting the tenants. Many tenants are in long term lease agreements and have been paying their bills on time for months. They also put down large sums of money as a rental deposit for the home they have been living in.
“I see this scenario on a weekly basis. Once the home owner or investor knows they can not afford the mortgage they keep collecting the rent checks but dont pay the mortgage and pocket the money”. Shaun Greer (Founder of ExpertHomeOffers.com a national internet company that connects motivated sellers with local real estate home buyers).
So the questions is,
Do you think the real estate investors or land lords are responsible for loss damages paid to the renter? After all moving your family in less than 30 days can be very hectic and these renters are also out their deposit.