The partially completed and now bank owned Tuscan Hills mixed-use residential and commercial development in Saint George has been purchased by a new real estate developer. [Continue Reading]
Reverse Mortgages And Negative Equity
Reverse Mortgages that end up in negative equity situations once the owner passes away. Should the family try to sell the home? Or give it back to the bank. [Continue Reading]
Where Can You Find The Cheapest Houses
Find out where to find the most affordable housing markets in the U.S. Including awesome homes for under 100k. [Continue Reading]
The number of sales of new homes during 2011 was the worst year on record. According to the Commerce Department, new construction home sales during 2011 were around 302,000, even less than the 323,000 new home sales in 2010. This makes 2011 the worst year for homebuilders since records dating back to 1963.
The Effect on Home values of Crime Scene Real Estate
California-based damage economics specialist, says stigmatized homes that once were crime scenes can lose 10 percent to 25 percent of their value. [Continue Reading]
Home sales will rise in 2012, up to 4.74 million sales, and increase of 3.5%. However, total mortgage originations will fall on fewer refinances, according to this article by Fannie Mae.
It’s expected that the Robo Signing Scandal resulted in a foreclosure filings decrease during 2011, with the number of foreclosures dropping 34% from 2010. Foreclosure numbers are expected to rise again during 2012 with a Robo-signing settlement finalizing.
According to a recent survey by ReMax, the 5 most common concessions / incentives that buyers of sellers include: A reduced sales price, seller paid closing costs, seller paid repair requests, seller paid home warranty, and seller contribution towards mortgage points and origination fees.
Real Estate Demographic Trends
This article provides some interesting insight on the current trends in the demographics of today’s real estate buyers.
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FOX 13 (KSTU) News reported on the sharp increase in October home sales. More than 1,000 homes were sold in the Salt Lake area in October, a 34 percent increase compared to October 2010. October was the fifth consecutive month of year-over-year home sale increases. The median home price fell to $185,000, a 10 percent decrease from last year.
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