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People who have median income of $64,800 can move to affordable places to live in. Top 10 most affordable real estate markets in 2009 are as follows: 1. Kokomo, IN 96.7 2. Springfield, OH 96.1 3. Bay City, MI 96.0 4. Mansfield, OH 95.7 5. Elkhart-Goshen,IN 95.2 6. Indianapolis-Carmel, IN 94.5 7. Canton-Massillon, OH 94.4 8. Youngstown-Warren-Boardman, OH-PA 93.9 9. Lima, OH 93.8 10. Davenport-Moline-Rock Island, IA-IL 93.0 Bookmark &
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1 Minneapolis-St. Paul-Bloomington, MN-WI 2 Milwaukee-Waukesha-West Allis, WI 3 Portland-Vancouver-Beaverton, OR-WA 4 Boston-Cambridge-Quincy, MA-NH 4 Seattle-Tacoma-Bellevue, WA 6 Providence-New Bedford-Fall River, RI-MA 7 San Jose-Sunnyvale-Santa Clara, CA 8 New York-Northern New Jersey-Long Island, NY-NJ-PA 9 Cincinnati-Middletown, OH-KY-IN 10 Cleveland-Elyria-Mentor, OH 10 Denver-Aurora, CO Bookmark &
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Did you ever think why everyone around you is unhappy? A survey was done which tells the level of happiness by state. New York is considered the unhappiest state to live in followed by Connecticut and New Jersey. Reasons for being happy are lack of sunshine, high housing prices and high taxation.
 Top ten Least Happy States to live in: 1. New York 2. Connecticut 3. New Jersey 4. Michigan 5. Indiana 6. California 7. Illinois 8 Ohio 9. Massachusetts 10 Rhode Island Bookmark &
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In first eleven months of 2009 there has been rise in the prices of US homes. According to a real estate firm, loss in the values of homes has been $489 billion in 2009, which is less than $ 3.6 trillion in 2008.
Rise in prices is not sustainable as there is a gap in the demand and supply of residential houses in 2010. The volume of foreclosures is still high and people are less interested in buying home owing to unaffordable mortgage rates. The areas where home values have stabilized include Boston, Atlanta, Denver, Providence and Rochester. There are certain markets where there is fall in home values which include Chicago, Phoenix, Los Angeles, New York and Miami-Fort Lauderdale.
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In California, foreclosure cancellation rose 40 percent this November, according to a report from ForeclosureRadar.com. In addition, Average daily foreclosures filings also declined 1 percent in November, while notices of trustee sales fell 13.4 percent, the site reports.
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Home buyers who are opting for refinance are happy about 15 year fixed rate mortgages. Wells Fargo & Co who provides 15 year loan is up 55 percent through November compared to a year ago. J.P. Margo Chase & Co., 20 percent of refinances are 15-year loans, up 10 percent in 2008. One reason is that rates on 15 year fixed rate conforming mortgages averaged 4.46 percent in early December, according to HSH Associates in Pompton Plains, N.J.
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This is the right time for homeowners who still have plenty if equity in their home to tap into it. "Lenders are again writing home equity lines of credit," says MortgageBot, which processes real estate loans. Homeowners who have more than 20 percent of equity in their homes can use HELOC for emergency cash than a credit card. Bookmark &
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By next 5 years, nearly $1.5 trillion real estate loan amount will be due. Only half of the capital is available to refinance these loans according to Deutsche Bank Securities.
Some new names like EdgeRock Realty Advisors, Moelis & Co., Cantor Fitzgerald and Broadpoint Gleacher Securities Group as well as CB Richard Ellis Inc., have decided to expand its London based investment bank to United States.
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Forbes magazine found out the number of loans that were foreclosed in the 100 largest metropolitan statistical areas. Then it calculated the percentage of loans that are descending further into delinquency vs. those that are improving. Lower the deterioration ratio, higher the ranking. Here is a list of cities that fared best by the measurement and are recovering the most quickly. 1. Harrisburg-Carlisle, Pa. 2. Austin-Round Rock, Texas 3. Ogden-Clearfield, Utah 4. Buffalo, N.Y. 5. Knoxville, Tenn. 6. Raleigh, N.C. 7. San Antonio, Texas 8. Syracuse, N.Y. 9. Salt Lake City, Utah (Tied) 10. Moline, Ill. 10. St. Louis 10. Wichita, Kan. 10. Rochester, N.Y. Bookmark &
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In the first 11 months of 2009, U.S. homes lost $489 billion in value which is significantly less when compared to $3.6 trillion lost during 2008 says Zillow.com, an online real estate research firm.
Areas where home prices rose the most in 2009 were:
- Boston
- Providence
- Denver, Colo.
- Atlanta, Ga.
- Rochester, N.Y.
Areas where home prices lost the most were:
- Los Angeles
- Chicago
- New York
- Miami-Fort Lauderdale
- Phoenix
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Both Bank of America and JP Morgan Chase & Co. are not able to help many borrowers because homeowners fail to complete mortgage relief paperwork. According to Jack Schakett, Bank of America's credit loss mitigation strategies executive, cited "ineffective communications with customers, shortcomings in document maintenance, misunderstandings about program requirements, and the inability to comply by some borrowers."
Even JP Morgan Chase said only 4,300 home owners have completed the paperwork, although 16,000 have been approved.
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According to Associated Press, economic stress index in October remained at 10.1, compared to 6.9 in October 2008. Most stressed states that experienced severe housing downturns in October: 1. Nevada, 21.95 index score 2. Michigan, 17.36 3. California, 16.48 4. Florida, 15.4 5. Arizona, 14.37 Least stressed states that escaped housing issues: 1. North Dakota, 3.89 2. South Dakota, 5.14 3. Nebraska, 5.51 4. Vermont, 6.43 5. Montana, 6.64 Bookmark &
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According to Forbes the most over-priced properties are: 1. Orlando 2. Miami-Fort Lauderdale-Pompano Beach 3. Jacksonville, Fla. 4. Baltimore-Towson 5. Chicago-Naperville-Joliet 6. San Antonio, Texas 7. Denver-Aurora 8. Tampa-St. Petersburg-Clearwater 9. Indianapolis-Carmel 10. Austin-Round Rock Bookmark &
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Mortgage industry has helped 2.7 million homeowners in 2009 with mortgage modifications or repayment plans outside of the federal programs.
The statement released Wednesday lacked many details about what kind of help servicers were offering. "What are the circumstances?" asks economist Joel Naroff, with Naroff Economic Advisors. "It's a large number, but they're probably not helping a lot of people who we'd think of as getting a modification. They might just be rewriting a mortgage to more of a fixed rate."
The Executive Director of Hope Now Faith Schwartz says industry efforts to solve the foreclosure problem are significant. "We've got to talk about what else is going on in the market. That's the bigger picture," she says.
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According to real estate trainer, Ralph Williams, to be successful in real estate business it is important that you "lead and direct people to good decisions in moments of truth". He has an eight step model that helps people to be successful in real estate business. Here is the eight step model:
- Think: Start asking questions
- Decide what you want: Find out which market niches will be best suitable for your business and skill sets.
- Be responsible: Make yourself responsible for doing what is necessary to create the business you want.
- Work hard: Decide on what you don't want to do
- Care: Care about what others want and help them attain it.
- Be humble: This is expressing gratitude for the positive things in your life
- Be happy: Happiness has to be earned by people; it can't be handed to them.
- Be proud: When you do what it takes to make your wants a reality, you can be proud. Bookmark &
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Many parents may be thinking as to what they should give their children as gifts this holiday season. Since home prices are down, this could be a terrific year to give a down payment or even the whole home. The internal revenue service says a married couple can each give gifts of $13,000 of money or property without triggering taxes for the gift givers or the recipients. That means a married couple can give another married couple a total of $52,000 a year. To maximize that they can give $52,000 in December and another $52,000 in January for a total of $104,000 to be used on a property before the federal tax credit expires.
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| Country | Year-on-year (%)
2008 Q3
| Year-on-year (%)
2009 Q3
| Q-o-q (%)
2009 Q3
| | Israel | -3.79 | 10.15 | 0.68 | | Australia-8 cities | -3.45 | 4.91 | 3.19 | | Switzerland | 2.22 | 4.28 | 1.33 | | China-Shanghai | 18.01 | 3.97 | 2.66 | | Hong Kong (RVD) | 13.22 | 3.60 | 9.19 | | Hong Kong (HKU) | 16.82 | 3.08 | 11.12 | | Norway | -6.56 | 2.00 | 1.78 | | New Zealand | -9.02 | 1.98 | 0.60 | | Portugal | -7.60 | 1.48 | 0.30 | | Finland | -4.04 | 0.92 | 2.02 |
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