Date Archives December 2010

Foreclosures + Systematic Breakdowns = Trouble

As noted two months ago on my posterous site – Foreclosure Fraud Reveals Structural & Legal Crisis … Sooo …. what the F do we do now? , Rob this morning discovers that Congress has been holding hearings about how broken the system of foreclosures is.

…Short story – (and this is what I tell my clients): nobody knows exactly what happened, what’s happening and what 18 months will bring. If anyone says otherwise, they’re probably lying or are trying to sell you something.

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Housing Stories to Confuse Even Those of you Really Paying Attention

That said, the key point to remember is this: Buying a fairly priced home at today’s rates may be the best deal you will ever get.

…At different times, under different conditions, all arriving at different prices, frustrating and confounding buyers and sellers.

… And THEN (I’ve been saying this for years, often in opposition to many of my colleagues in the real estate world: – From VARBuzz – Is Homeownership for Everyone?

…Buying a home isn’t for everyone, but excellent housing opportunities abound for those who plan to stay in the same geographic area for the years to come.

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Millennials’ Impact on Real Estate

This is something I am trying to wrap my head around – what will the millenials’ mobility mean to homeownership ? Short answer to the question: I don’t know how millennials are going to affect the real estate market, but I know that they are going to cause a tectonic shift in our society, specifically: Millennials’ roots will be different than previous generations; their roots will be electronic, rather than physical. … Have a look at this chart: Generations 2010: Trends in online activities Millenial’s mobility is going to affect everything – the homeownership rate, the type of home, the location …. will they buy? … And then there’s this – 33% of Americans between the ages of 15-24 have smartphones.

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Compromising on the Home Purchase – Everyone Does It

Whether that is square footage, yard size, number of bedrooms, kitchen appliances, layout, ceiling height, style, price … determining what that fatal flaw is that you’re not willing to compromise is crucial to working through the home search process. … One of the keys to the “finding a new home” process is determining what the “must-haves” are, what the “I’d like to haves” are, and figuring out which ones really are the things that you absolutely, non-negotiably must have.

…However, 19 percent of buyers reported that they compromised on the price of the home, and 19 percent said they compromised on the size of their home. … Those with children under the age of 18 are more likely than those without children to make comprises when buying a home.

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