Buy v. Rent/Good Time to Buy

Right to Rent: Will the Obama Administration Finally Fix Housing?

Posted on Monday, July 04, 2011

The concept of "right to rent" has been floating around Washington for almost four years. Under this proposal, foreclosed homeowners would be allowed to remain in their house as renters paying the market rent, for a substantial period of time (e.g. five years) following a foreclosure. While several ...

Right to Rent: Will the Obama Administration Finally Fix Housing?

Posted on Thursday, June 30, 2011

The concept of "right to rent" has been floating around Washington for almost four years. Under this proposal, foreclosed homeowners would be allowed to remain in their house as renters paying the market rent, for a substantial period of time (e.g. five years) following a foreclosure. While several ...

Harvard finds dwindling housing supply abolishes affordable rentals

Posted on Thursday, May 05, 2011

Recent trends in rental housing are creating a dismal environment for many Americans and if public policy doesn't intervene, things will get worse, according to a study from one Ivy League university. The Harvard University Joint Center for Housing Studies released a report Tuesday, analyzing condi...

Where It's Better To Rent A Home Than Buy: Trulia

Posted on Thursday, May 05, 2011

Of the 50 most populated cities in the United States, New York remains the city where it's better to rent than buy. The Big Apple's competition? Fort Worth, Texas. That's according to the recently released Q2 2011 Rent vs. Buy Index by Trulia, an online real estate resource. The site compares rent...

Where Did All the First-time Buyers Go?

Posted on Monday, April 04, 2011

In January, first-time home buyers made up 29 percent of the market, the lowest since the National Association of REALTORS® started tracking first-time buyers on a monthly basis in 2008. In a healthy market, first-time buyers generally make up 40 percent to 45 percent of all purchasers. So with ...

Top 6 Cities Where Buying Is Better Than Renting

Posted on Monday, April 04, 2011

Cities that had been hard-hit by the housing market crash now offer some of the best buys in real estate and where it makes much more sense to buy than rent, according to a new report from Deutsche Bank. The bank’s study measures affordability by the share of income that Americans are paying to own ...

Buyers Ready to Snatch Bargains This Spring

Posted on Monday, April 04, 2011

Bargain prices on housing combined with low interest rates below 5 percent may bring the real estate market its busiest spring season in years, economists say. Distressed sales continue to put downward pressure on home prices, which may lure more buyers off the fence and ready to snag a deal dur...

Gen X Buyers to Lead Housing Recovery

Posted on Monday, April 04, 2011

Generation X — adults ages 31 to 45 — are expected to lead the recovery in the housing market, according to real estate experts in a recent webinar produced by the National Association of Home Builders. During the event, speakers highlighted results of a survey of 10,000 buyers in 27 metro areas. ...

The 6 Most Vacant U.S. Cities

Posted on Monday, April 04, 2011

The recession and economic woes caused once-booming cities to never reach the potential that some builders had forecast in housing. Overbuilding during the housing boom era and some cities' high unemployment has left several cities across the country facing a high number of vacant homes that are bla...

Foreclosure Crisis Helps Make New Homes A Bad Deal

Posted on Monday, April 04, 2011

WASHINGTON — A new home, the dream of many would-be buyers, makes less and less financial sense in many places. A wave of foreclosures has driven down the cost of previously occupied homes and made them even more of a comparative bargain. By contrast, new homes have become more expensive. The medi...

A Look at Real Estate Across the Country: Florida

Posted on Friday, April 01, 2011

Florida v. U.S.: Primary Distinction: Above U.S.supply (5 years) but also demand Supply Side: Credit to boom, higher than U.S. for construction and investors. • Statistical Indicators: Now exceed U.S. in foreclosures, negative equity (45% v. U.S. 27%), adverse feedback and price dec...

$2,000 Rent-Deregulation Limit Up in the Air

Posted on Tuesday, March 22, 2011

As legislators in Albany debate the future of the city's rent laws, a key provision of the law that has allowed landlords to deregulate at least 100,000 apartments may be up for a change. Since 1993, state law has allowed landlords to convert vacant regulated apartments into market-rate units when ...

Renting v. Buy? A few Quick Bullet Point Updates...

Posted on Monday, March 21, 2011

More Reasons to Buy Than Ever Before Usual reasons • Affordability. $1.3 trillion lost means savings to buyers, • Selection. Nicest new places. Example: 21.03% of the homes in Florida are vacant. (2nd worst in U.S.). But construction of new homes is also down (81.37% in Florida – 3rd worst in U...

4 Red Flags That Send Buyers Running

Posted on Friday, March 18, 2011

How you present a listing online and the words you choose to describe it may be turning off some buyers. Bankrate.com recently asked real estate professionals to weigh in on what listing red flags are turning off their buyers. 1. No photos. "One red flag in many buyers' eyes is the lack of photo...

Top 5 Thriving Second-Home Markets

Posted on Friday, March 18, 2011

Home prices in second home markets are on the rebound, climbing more than 10 percent last year in some places, Barron’s online reports. Barron’s recently released a list of its top picks for second-home markets that are likely to see a big rebound in sales and price soon. 1. Sea Island, Ga.:...

Buy

Posted on Friday, March 18, 2011

Deutsche Bank released a study showing that renting a home costs U.S. householdsmore than paying a mortgage for the first time in at least two decades. The rent-buyratio, or rent as a percentage of after-tax mortgage payments, is based on figuresthat Deutsche Bank compiled from NAR and the REIS info...

Recently Trulia compared the median list price with the median rent

Posted on Friday, February 04, 2011

Recently Trulia compared the median list price with the median rent on two-bedroomapartments, condominiums, townhouses, lofts and co-ops listed on its website, andcompared that to ownership costs including mortgage payments, property taxes andinsurance. It determined that buying a home is cheaper th...

BUY v. RENT / GOOD TIME TO BUY? - Buying Still More Affordable Than Renting in Most Cities: Report

Posted on Friday, February 04, 2011

Data released Monday by real estate Web site Trulia says even with the current state of the housing and financial market, it is still more affordable to buy a home than rent one. Trulia’s latest Rent vs. Buy Index studied the 50 largest cities in the United States and found that it is more affordab...

Cities Where It's Cheaper to Buy Than Rent

Posted on Monday, January 31, 2011

It’s cheaper to buy a home rather than rent one in 72 percent of the 50 largest U.S. cities, according to Trulia’s rent vs. buy index, which compares the total cost of home ownership to the cost of renting. "Since the start of the 'Great Recession,' many former home owners have flooded the renta...

BUY v. RENT / GOOD TIME TO BUY - Buying A Home Cheaper In Nearly Three Quarters Of Big U.S. Citis: T

Posted on Thursday, January 27, 2011

Thanks to the foreclosure crisis, buying a two-bedroom home is cheaper than renting in most big cities. In its quarterly Rent vs. Buy Index, real estate data firm Trulia found that buying a property -- including the mortgage principal, interest, taxes and insurance -- was cheaper than renting in 72...

Buying Still More Affordable Than Renting in Most Cities: Report

Posted on Thursday, January 27, 2011

Data released Monday by real estate Web site Trulia says even with the current state of the housing and financial market, it is still more affordable to buy a home than rent one. Trulia’s latest Rent vs. Buy Index studied the 50 largest cities in the United States and found that it is more affordab...

Buying A Home Cheaper In Nearly Three Quarters Of Big U.S. Cities: Trulia

Posted on Tuesday, January 25, 2011

Thanks to the foreclosure crisis, buying a two-bedroom home is cheaper than renting in most big cities. In its quarterly Rent vs. Buy Index, real estate data firm Trulia found that buying a property -- including the mortgage principal, interest, taxes and insurance -- was cheaper than renting in 72...

'Right To Rent' Program Not On The Horizon, Officials Say

Posted on Friday, January 21, 2011

On Wednesday, the New York Times published an op-ed by the former mayor of Greenport, N.Y., David E. Kapell, with a powerful suggestion for helping struggling homeowners and fixing the mortgage crisis. But according to officials at Treasury and the Department of Housing and Urban Development, the id...

From Struggling Owners to Stable Renters

Posted on Friday, January 21, 2011

Greenport, N.Y. THERE are many factors behind the mortgage crisis, but there is only one simple explanation for why we have failed to solve it. Any effort to help homeowners by forgiving some of their loans is said to create a moral hazard, rendering it politically toxic. But without help, homeown...

The Eight States Running Out Of Homebuyers

Posted on Wednesday, January 19, 2011

The single biggest problem in the U.S. real estate market is simple: There are very few homebuyers. That seems obvious, but the “buyers’ strike” has caused house prices to drop, along with an epidemic of foreclosures. What’s worse, the long depression in real estate is probably not over. S&P has fo...

Getting More Help With Your Down Payment

Posted on Wednesday, January 12, 2011

Home prices have dropped, and mortgage rates are low. For anyone with the tens of thousands of dollars now required for a down payment, it's a pretty good time to buy a house. Now, it's even getting easier without that hefty down payment, as governments step in to help out. A growing number of st...

For Apartments, a Hot Winter

Posted on Friday, January 07, 2011

The nation's apartment market remained robust in the fourth quarter with vacancies falling below 7% for the first time in two years, according to new data. The strong demand, which defied typical winter slowness, pushed the average national rent up for the fourth quarter in a row, a departure fr...

2011 Predictions for Home Sellers

Posted on Wednesday, January 05, 2011

Past is prologue, they say. And that's certainly true when looking forward to what the housing market will hold for home sellers next year. WalletPop's predictions for sellers in 2011 are: 1. More Distressed Homes Come on Market, but 'Regular' Deals Have Cachet The number of homes reposs...

Real Estate Predictions for Renters in 2011

Posted on Tuesday, January 04, 2011

For generations now, our national values have placed an emphasis on home ownership. Renters were the people who were rootless or just not being quite ready to "settle down." As home ownership has become less of a financial asset and more of a liability over the last few years, there has been a shift...

Buy vs. Rent: An Update

Posted on Thursday, December 23, 2010

Below is an updated list of rent ratios — the price of a typical home divided by the annual cost of renting that home — for 55 metropolitan areas across the country. We last covered this subject about eight months ago, and you’ll notice that most ratios have not changed much since then. A good ru...

The Profile of Home Buyers and Sellers: Focus on Sellers

Posted on Friday, December 17, 2010

The National Association of REALTORS® surveys home buyers and sellers annually to gather detailed information about the home buying and selling process. These surveys provide information on buyer and seller demographics, housing characteristics and the experience of consumers in the housing m...

$1.3 TRILLION in Home Value Loss? Is Now A time To Buy; Lower Prices v. Higher Rates

Posted on Thursday, December 09, 2010

One of the subjects Larry Kudlow and friends discussed on CNBC today was how rising mortgage loan interest rates, combined with anticipated further declines in home prices and, particularly in light of the recently announced $1.3 trillion home prices are said to have plummeted during 2010 alone, s...

8 Factors for Standing Out in Real Estate

Posted on Tuesday, December 07, 2010

Reuters News offers these guidelines for anyone who is shopping for a home and a real estate professional to help them clinch the deal. How do you measure up? 1. Ethical. Enough said. 2. Likeable. The practitioner doesn’t have to be the buyer’s best friend, but she has to be someone the buyer ...

NAR Says HomeOwnership Matters

Posted on Wednesday, December 01, 2010

By Danielle Hale, Research Economist • In the past 12 years, the net worth of the typical home owner has ranged between 31 and 46 times that of the net worth of the typical renter. • Home owner equity is a substantial component of home owner wealth. The Federal Reserve's Survey of Consumer Fin...

3 Reasons to Sell a Home Soon

Posted on Wednesday, December 01, 2010

What do you tell a client who asks whether to sell a house now or wait? Steve McLinden, real estate adviser with Bankrate.com, offers these three good reasons not to wait, even though the holidays are approaching: 1. The market is improving. Most markets have either turned or are close to turning...

7 Trends That Will Drive the Future of Housing

Posted on Wednesday, December 01, 2010

Hanley-Wood's ProSalesOnline.com identifies seven trends that the magazine’s editors believe will have the biggest impact on housing in 2011. 1. Big builders are wringing the extras out of construction costs and dropping the national average cost-to-build 36 percent to $52 per square foot. 2. ...

3 Reasons to Sell a Home Soon

Posted on Monday, November 22, 2010

What do you tell a client who asks whether to sell a house now or wait? Steve McLinden, real estate adviser with Bankrate.com, offers these three good reasons not to wait, even though the holidays are approaching: 1. The market is improving. Most markets have either turned or are close to turni...

NAR Survey Finds Half of Homebuyers to be First-Time Purchasers

Posted on Wednesday, November 17, 2010

First-time homebuyers purchased half of all homes that were sold from July 2009 to June 2010, according to an annual survey of buyers and sellers conducted by the National Association of Realtors (NAR). That’s up from 47 percent in the previous 12-month period, and the highest share of first-time...

5 Traits of Today's Home Buyers

Posted on Friday, November 05, 2010

A survey by American Lives, a consumer research firm in California, conducted a study for the trade magazine Builder to answer that question. Here are their conclusions: • They are young. Most are under 45. Half said they had annual household incomes of $75,000 or less. Two-thirds are married. •...

10 Reasons to Buy Now

Posted on Monday, September 20, 2010

10 Reasons to Buy a Home Time magazine is being overly pessimistic in its recent cover piece that called into question the benefits of homeownership. In fact, now is a great time to buy. And, what's more, tomorrow will be a great time to own, because the fundamental strength of homeownership hasn'...

Pros and Cons

Posted on Monday, September 20, 2010

Some pros and cons: Renting is easy in and easy out. That’s important if you may be changing jobs or having more or less people live in the home. You’ll need to stay put for at least five years in order to re-coup the purchase and sale costs if you plan to own. So factor that into your cost. The...

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