You might have heard about some figures released earlier this week: February saw an 8.2% drop in sales prices with a 2.9% rise in sales. Even so, many people still refuse to believe the market value of their home has dropped, and if they want to sell it they will have to take less money. [...]
One fascinating aspect of our current market is that some houses blow off the market in days, while others languish for many months. While price is certainly an aspect of this phenomenon, it is not the sole factor. Nor is it all in the condition of the home. I am blown away by the fact [...]
We do love our Master Planned Communities here in Vegas. Out on the West side of town, you’ll find Summerlin. Summerlin has been around for some years, but parts are still under construction. In fact, this weekend some of the builders are having what is billed as America’s Biggest Open House (warning, inline sound until [...]
A combination of aggressive mortgages, maxed out home equity lines, and dropping home prices mean that home equity rates in the United States have fallen below 50% for the first time since World War II. This is of course related to housing being in the “deepest decline since the Great Depression.” There has actually been [...]
CNN has an article about how the Hope Now coalition claims to have helped a million homeowners. At least that is what Treasury Secretary Henry Paulson says. CNN isn’t so sure: But of those borrowers, only 278,000 actually saw the terms of their mortgages modified. Their lenders either froze or reduced their interest rates, and [...]
