Home Values Category
Knoxville Home Resales Boom Into The End Of The Tax Credit And Around The Country
April 28th, 2010 categories: Buyers, Existing Home Sales, Home Values, Homebuyer Tax Credit, Market Trends, Pending Home Sales, Statistics
Existing Home Sales rose in March, as expected. U.S. home buyers closed on 7 percent more homes as compared to February.
Furthermore, versus March 2009 — a month many people equate to the low point of the U.S. economy — sales volume was up 16 percent.
“Existing home sale” is the technical term for a home resale; a home previously inhabited by a person. It’s the opposite of a “new home sale” which is a sale of a newly-constructed home.
Existing Homes Data is tracked by the National Association of Realtors® and a closer look at the March data reveals some other interesting notes:
- Year-over-year sales are higher for the 9th straight month
- Real estate investors represented 19 percent of all homes purchased
- First-time home buyers account for 44 percent of all buyers
Also worth noting is that the supply of available homes is down on a broader basis. At the current rate of sales, the existing home inventory will be exhausted in 8 months.
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Will The Knoxville Housing Market Slow Down After The Tax Credit Expires??
April 22nd, 2010 categories: General, Home Price Index, Home Values, Homebuyer Tax Credit, Housing Starts, Market Trends
After a strong March showing and a surprise upward-revision for February, Housing Starts are, once again, trending better.
It’s yet another signal that the housing market in Farragut and nationwide is stabilized.
A Housing Start is a new home on which construction has started and, over the last 6 months, home builders are averaging one half-million starts per month.
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7 Steps To Have A Successful Knoxville TN Short Sale…Part 2
April 12th, 2010 categories: Buyers, Home Values, Knoxville Short Sales, Market Trends, Sellers
Part 2 The Short Sale Packet “About The Seller/Borrower
Yesterday in Part 1 of how to achieve a successful Knoxville Short Sale we talked “About The Property”. Today I’m going to share with you all the information that needs to be gathered up on the seller/borrower for their portion of a Knoxville Short Sale Packet.
This is a very important part of a packet. That must be put together correctly in order for the lenders to consider a short sale.
1. Signed Lender Authorization. You will need to obtain permission from the seller/borrower to speak to their lender on their behalf. If they have more than one mortgage on the property you will need to get authorization for each lender. This gives you the ability to negotiate the short sale on your sellers behalf. Without the signed authorization the lenders will not talk to you about your sellers situation.
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CNNMoney.com Predicts The Best And Worst Real Estate Markets For 2010
March 29th, 2010 categories: Home Values
CNNMoney.com recently published its 2010 forecast and projections for home prices in the country’s largest metro markets.
Listed as “Top 25″ and also comprehensively by state, CNNMoney.com’s home price forecasts puts Santa Rosa, California at the top of 2010’s home appreciation list and Hanford, California at its bottom.
The 10 cities projected for highest home appreciation in 2010 are:
- Santa Rosa, CA : +6.0%
- Cheyenne, WY : +4.7%
- Kennewick, WA : +4.6%
- Merced, CA : +4.4%
- Bremerton, WA : +4.2%
- Fairbanks, AK : +4.2%
- Corvallis, OR : +4.1%
- Tacoma, WA : +3.9%
- Anchorage, AK : +3.8%
- Bend, OR : +3.3%
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