If you have attempted to qualify for a mortgage over the last few years, then you likely know how tough the credit standards have become. According to the Federal Housing Finance Agency, or FHFA, a potential borrower currently needs, on average, a credit score in the 760s to qualify for a mortgage loan.
As we all know, the proverbial bottom fell out of the real estate market about half a decade ago. Home values, for the most part, have always climbed and dropped along with fluctuations in the economy; however, the fall of 2007 was significantly worse than what the market had seen in the past. This was due, in large part, to artificially high rates of home price appreciation that preceded the fall.
Located along the Atlantic coast in northeastern Florida, Jacksonville is the most populous city in the State of Florida. Often considered to be a compromise for those who want the warmth and proximity to the ocean that Florida offers without entirely losing the change of seasons, Jacksonville seems to be growing in popularity amongst home buyers. With home prices soaring to historic heights prior to the recession, Jacksonville real estate market is continuing to show signs of recovery.
Wanted: Homes for sale in Cambridge and Somerville and the surrounding areas. The spring real estate market is hot. According to the Massachusetts Association of Realtors, for the fourth straight month the median home price in Massachusetts has risen. It has been 19 straight months of an increase of closed home sales. Cambridge and Somerville are no exception and in fact inventory is especially tight, so if you or anyone you know is thinking of making a move now is the time!
Here is how the numbers break down for single family homes sold since the first of the year:
Whether you are shopping in downtown or looking to move to a popular community like Steiner Ranch, West Oak Hill or South River City, the city of Austin, Texas offers ample opportunities to invest in real estate in relaxing neighborhoods with numerous amenities. Home prices throughout Austin tend to be fairly affordable compared to other cities of similar size.
How is the real estate market in Somerville? Busy! To put it simply, it is a seller's market! How can you tell if the market favors buyers or sellers? You need to determine the absorption rate. The absorption rate is the rate at which the inventory of homes are being sold. Absorption rate indicates the number of months it should take to sell all the homes for sale in a specific area.
An absorption rate of more than 8 months is considered a buyer's market.
An absorption rate of between 5-7 months is considered a balanced market.
New York home prices are often one of the most discussed areas of real estate in the country. For those planning to move in to the area, it is a good idea to check out the latest trends and know what the market is doing. After all, this information can help you to decide if now is the time to buy or not. For many people, New York real estate is at its best point right now and things continue to look better overall.
The Data Speaks for Itself
Those in the market for Las Vegas real estate will come across many bargains, as many distressed properties are still listed at a discounted price. In order to determine when Las Vegas home prices are bargains, you should probably first look into the current market trends. Before you make an offer on a property in Las Vegas, you should do some legwork and research the city's local real estate market conditions (E.g. whether or not it is a buyer's market, etc.)
Smaller Inventory of Las Vegas Homes for Sale
The Jacksonville real estate market took a substantial hit a few years ago, as did the real estate market throughout all of Florida. Although real estate prices across the country as whole fell during our last recession, Jacksonville home prices, as well as those throughout Florida, fell more than most. The reason for this was that real estate values had been appreciating at a much faster than normal rate for the ten year period leading up to the recession.