$149,500 , 5 bedrooms, 4 full baths, 0 half baths, 0 square feet
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Posted: Oct 3, 2013, 4:18pm PDT
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Showing posts with label real estate market. Show all posts
Showing posts with label real estate market. Show all posts
10/3/13
OPEN SUNDAY 10/6 1-4 PM! Investor alert!!! This home has been framed out and is waiting for the right buyer to finish project.
$149,500 , 5 bedrooms, 4 full baths, 0 half baths, 0 square feet
Open 1-4p Sun, 10/6 - Lovely row home in an excellent location. Walking distance of Lincoln Park and Eastern Market!
$475,000 , 2 bedrooms, 1 full baths, 0 half baths, 1,070 square feet
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Posted: Oct 3, 2013, 3:30pm PDT
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11/6/12
Frankenstorm: a real monster for the recovering Real Estate?
It’s been a great year for the US real estate, crawling its
way back from the dark slump to finally regaining the strength it once had. But
natural calamities seem to be out of everyone’s control and as the biggest
tropical gale Hurricane Sandy hit the Atlantic seaboard, the real estate
industry is yet to experience a huge setback from property damage and flooding.
The Frankenstorm, a seemingly appropriate moniker since it was
expected to hit just after Halloween weekend, affected Eastern coastal states
that account for about one out of every five U.S. real estate sales and
threatened inland areas with flooding and blackouts.
Bloomberg website news
thoroughly showed the statistics on what the US real estate would look like
after the hurricane.
PROPERTY DAMAGE
Almost $88 billion of homes in seven states were at risk of
damage, according to a report by CoreLogic Inc., a mortgage software and data
firm in Irvine, California. New York had $35.1 billion of property in harm’s
way, New Jersey had $22.6 billion, Virginia had $11.3 billion, and
Massachusetts had $7.8 billion. Maryland, Delaware and Pennsylvania had a
combined $11 billion of property at risk, CoreLogic said.
SALES PRICE
The U.S. median sales prices in September rose to $183,900,
up 11 percent from a year earlier, according to the National Association of
Realtors. Home sales that month reached an annualized pace of 4.75 million, up
11 percent from a year ago. Pending home sales edged up in September for the
17th consecutive month on a year-over-year basis.
The storm’s central barometric pressure was lower than that
of the 1938 hurricane that devastated homes in New York and New England.
Flooding from Sandy was reported along the coast from Martha’s Vineyard in
Massachusetts through New Jersey. The storm submerged Plymouth Rock, the
landmark in Massachusetts traditionally represented as the place where Pilgrims
first stepped onshore in the New World in 1620.
FREDDIE MAC & FANNIE MAE
Freddie Mac said today in a statement that it has authorized
servicers to suspend foreclosure proceedings for up to 12 months on mortgages
it owns or guarantees in states affected by the storm. Also, the McLean,
Virginia-based company said it will permit some on-time borrowers to defer
mortgage payments for up to a year, will waive the assessment of late fees
against borrowers with storm-damaged homes and will not report delinquencies
caused by the disaster to credit bureaus.
Washington-based Fannie Mae issued a statement today urging its
servicers to grant borrowers affected by the disaster a 90- day period of
deferred or reduced mortgage payments under its existing disaster-relief
guidelines.
Let’s hope that Frankenstorm stays a fun moniker rather than
become our real-life monster.
Source: bloomberg.com
Do you want to work with a
Realtor who constantly keeps his clients informed about the effects of such natural calamities to their homes and community? Call me, Mynor Herrera,
today for expert help buying or selling in the DC, MD, & VA areas! I
also specialize in Bethesda and Chevy Chase, as well as the
subdivisions of Rosemary Hills, Rock Creek Forest, East Bethesda and
Whitehall Condominium.
9/28/12
Has housing reached the 'new normal'?
Big home-sale and housing-start increases are sparking optimism, but will the good news last through the winter?
It was a great day for the Real
Estate market the moment news about home sales increasing 7.8% in August and
housing starts rising to 2.3% came out.
According to The Wall Street
Journal, those were the latest numbers in a series that showed that the housing
market seems to be finally making its way out of the doldrums. And the numbers
are real.
But tucked into the bottom of most
of those happy little stories are the hurdles that housing still needs to leap
before this becomes any kind of a normal market. And just what will the new
"normal" look like? It's safe to say it won't look like the go-go
market of the mid-2000s.
The number of existing homes sold in
August was 9.3% above the same time last year, the highest rate since May 2010,
when a tax credit spurred sales, the National Association of Realtors reported. The number of single-family
homes upon which construction started was up 27% from last August and at its
highest rate since April 2010, according to figures from the Census Bureau.
The trends look good, but will the
trends hold? One looming question is whether the gains of the summer will all
be lost during the winter, historically a slower time for home sales.
Then there are the problems
that are lingering nationwide: tight credit, job insecurity, high unemployment.
In many cities, there are actually more buyers than there are homes to buy,
which could also put a dent in some of those happy numbers in upcoming reports.
"Total sales this year will be
8% to 10% above 2011, but some buyers are frustrated with mortgage
availability," NAR President Moe Veissi, broker-owner of Veissi &
Associates in Miami, said in a news release. "If most of the
financially qualified buyers could obtain financing, home sales would be about
10% to 15% stronger, and the related economic activity would create several
hundred thousand jobs over the period of a year."
The national median price for an
existing home in August was $187,400, an increase of 9.5% from August 2011.
A few highlights from home-sale
numbers:
- The percentage of distressed homes (foreclosures and short sales) was down from 31% of all sales in August 2011 to 22% this past August.
- First-time buyers accounted for 31% of sales, compared with 32% in August 2011.
- A total of 27% of transactions were all cash, up from 22% in August 2011.
- Investors bought 18% of the homes sold in August, down from 22% in August 2011.
So, what do you all think the NEW NORMAL would look like?
Source: realestate.msn.com
Do you want to work with a Realtor who never fails to keep his clients updated about Real Estate trends? Call me, Mynor Herrera, today for expert help buying or selling in the DC, MD, & VA areas! I also specialize in Bethesda and Chevy Chase, as well as the subdivisions of Rosemary Hills, Rock Creek Forest, East Bethesda and Whitehall Condominium.
Do you want to work with a Realtor who never fails to keep his clients updated about Real Estate trends? Call me, Mynor Herrera, today for expert help buying or selling in the DC, MD, & VA areas! I also specialize in Bethesda and Chevy Chase, as well as the subdivisions of Rosemary Hills, Rock Creek Forest, East Bethesda and Whitehall Condominium.
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