All Posts Tagged With: "market"
How To Get The Best Home Price In A Slowing Market
Reports across the country suggest that real estate in most areas of the country is in decline. None of this is terrible or awful unless you bought last year and must now sell. Those who have owned for a few years are well ahead in most communities. Consider that in 2000, according to the National [...]
7Sep2008 | Peter G. Miller | 0 comments | Continued
Sellers’ Markets Vs. Buyers’ Markets
Question: People talk about a “sellers’ market” and a “buyers’ market.” How do I know which we have? Answer: A “sellers’ market” typically refers to a community with strong real estate demand and rising prices. A “buyers’ market” can be seen as a situation where home prices are more “flexible,” an expression which means prices [...]
2Sep2008 | Peter G. Miller | 0 comments | Continued
Should We Pay Someone To Buy Our Home In A Down Market?
Answer: No. Your problems will just get worse. In areas of the country where prices have declined, homeowners are sometimes offered the “opportunity” to “sell” their homes to an individual or company for a price equal to the mortgage balance. Sellers are expected to pay the buyer perhaps one percent of the mortgage amount. The [...]
30Aug2008 | Peter G. Miller | 0 comments | Continued
What’s A CMA In Real Estate?
When owners offer a home for sale they logically want the best possible price and terms for their property. A “comparative market analysis” or “CMA” is an estimate of value prepared by a real estate broker or salesperson that shows recent past sales for like properties and suggests an asking price for the owner’s property. [...]
30Aug2008 | Peter G. Miller | 0 comments | Continued
What’s Real Estate “Equity?”
In general terms, equity is the difference between the fair market value of your property and all debt it secures. A more conservative view defines equity as the fair market value of your property less debt and marketing costs. Example: If you have a home worth $600,000 and a $225,000 mortgage, the equity is $375,000. [...]
29Aug2008 | Peter G. Miller | 0 comments | Continued
What is “debt securitization”?
“Debt securitization” works like this: A commercial property such as a shopping center is mortgaged for $100 million. The owner has the property and the lender has a piece of paper. The lender wants to lend that $100 million again, so he turns around and “securitizes” the loan — packages it as a security and [...]
27Aug2008 | Peter G. Miller | 0 comments | Continued
I can buy a home from my family. What are the major issues that will concern the IRS?
Real estate transactions tend to be major financial events, so there can be substantial tax issues. In the case of buying a home from a family member, there are several questions to raise: ___Are you paying a fair market price? An appraisal or market studies by real estate brokers can establish the value of the [...]
26Aug2008 | Peter G. Miller | 0 comments | Continued
Is Brokerage Solidarity A Real Estate Reality?
Is the brokerage community some sort of monolith, a group-think brotherhood where all march in unison? I wondered about such issues when I got email the other day which really peeked my interest. The letter went something like this: I wonder if the FSBO listings on the MLS are treated differently by brokers at large, [...]
20Aug2008 | Peter G. Miller | 0 comments | Continued
A Time For Yellow Flags
Figures from the National Association of Realtors show that the market has done fairly well as of the third quarter of 2006. Of 148 metro areas, 102 showed year-to-year price gains, 45 were down and one was unchanged. Twenty-one metro markets actually showed doubled digit price increases. Overall, prices nationwide dipped 1.2 percent to $224,900 [...]
20Aug2008 | Peter G. Miller | 0 comments | Continued
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