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Save Money With Smaller Jumbos

Government-backed jumbo loans can be cheaper and easier to get than jumbos that exceed the $625,500 federal limit Home buyers trying to purchase a pricey property will probably need a jumbo loan—a mortgage that exceeds government limits. But there are different types of jumbos, and some are a little easier and cheaper to get than others. But first, a handy breakdown for those befuddled by the confounding terminology of the mortgage business: Conforming mortgages are capped at $417,000 and backed by … [Read more...]

Why This Room Is Now A Must-Have Home Feature

With mobile technology, it’s easy to work in any room of a house. And yet, according to designers and home builders, the home office is becoming one of a home’s must-have features. Dedicated office space might not always be a full room. In fact, it might be a nook with desk space on the landing of a staircase or a corner of a bedroom or family room. But as people do more work away from the office and kids do more work outside of the library, the home office is growing in importance. “That office or desk space … [Read more...]

This is the year to sell your home

The prospect of higher rates is fueling a seller’s market Prices surged more than 10% in many markets last year, bidding wars are once again common, and homes are routinely going for well over the asking price in some cities. These trends make it seem like a return to the go-go days of the housing boom. Single-family homes were selling at an average price of $244,300 in November, up 7.2% from a year prior and the highest price since August 2008, according to the latest data from the National Association of … [Read more...]

Pending Sales at Strongest Pace Since 2006

Pending home sales rose in May to the highest level since late 2006, implying a possible spark as mortgage interest rates began to rise, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 6.7 percent to 112.3 in May from a downwardly revised 105.2 in April, and is 12.1 percent above May 2012 when it was 100.2. Contract activity is at its strongest pace since December 2006, when it reached 112.8. Also, pending sales … [Read more...]

Vacation Homes Increasingly Enticing for Buyers

The vacation housing market is looking bright these days in part because of favorable economic conditions, but second-home sellers attribute the increase to strategic marketing as well. “We tell people this is an important investment and not just another toy,” says Peter Colvin, co-developer of Kingfisher Cove, a luxury lakefront cottage community near Saugatuck, Mich. For Colvin, also a longtime investment advisor, you must first create reasonably priced vacation homes, and then convince potential buyers … [Read more...]

Metro Phoenix luxury home sales on the rise

The number of metro Phoenix luxury houses for sale is on the rise, something real estate analysts say is a good sign for the market because fewer of the houses are foreclosures or short-sale listings. At the beginning of April, there were 2,267 houses listed at $500,000 or more on the market, a 3 percent increase from March, according to the latest report from a local real estate firm and Arizona State University housing analyst Mike Orr. Of the upscale houses for sale, 90 were short sales. That compares … [Read more...]

Selling your home? The cards are in your favor

Selling your home? In most parts of the country, you have finally regained the upper hand. So says Beth Braverman, CNN Money on April 8, 2013: 4:33 PM ET. To get your best price, though, you need to finesse your timing, list competitively and match your marketing strategy to local conditions. Lower your sights to make more money. Rising prices breed rising hopes: In a recent poll, brokers complained that 75% of homeowners think their agent's recommended listing price is too low. Pricing your property above … [Read more...]

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