RealtyBizNews: Real Estate News
With the latest on mortgages, refinancing, real estate & home tips
Foreclosures in the Chicago area this past May are showing a decrease in momentum, according to RealtyTrac, Inc., a California-based online data tracking service. 7,582 homes had a foreclosure or short sale related filing in May, dropping over 20 percent from the previous month of April and 49.7 percent from 2012 at the same time period.
With most areas and states experiencing stronger real estate markets, now seems like a great time to buy rental properties. Markets are thriving again, growing in equity, and making buying a home seem better and better. For inexperienced buyers, however, this idea can still be scary and fairly risky.
It’s a great time to flip houses in many of the markets across the country. Inventories are lean and prices are going up fast. Flipping a house fast means having what buyers are looking for. Having what buyers are looking for means having a sparkling remodeled house at market price. Getting to market price means accurately estimating the cost of the rehab.
Whether it’s installing Energy Star appliances or low-flow toilets, the possibilities for greener living are becoming increasingly limitless. So long as the trend continues, technology will continue developing, thus lending to the reduction of emissions and pollution on the planet – but why do you care?
Year on year, Memphis has experienced a 14.5% decline in total residential listings. However, May 2013 saw a shift in the market as listings increased 1.3% from the previous month. An indication that sellers are coming into the market. What is significant is the average listing time is down to 58 days. That is 28% less than the national average.
The uncertainty that existed in Dallas’ 2009 real estate market is finally starting to disappear. More and more sellers and buyers have regained their confidence, and are ready to enter the market again. Home values are reaching and surpassing pre-2007 figures, and market appears to growing steadily. Overall, the market tells us that now is a great time to buy.
Memphis has long been known for it’s decent, plentiful, and affordable housing. Among the many attractions to investors today is the fact that Memphis has developed into a suburban city of detached homes with sizable yards at prices below the national average. Making it even more attractive to investors is the fact that it’s a city of middleclass renters where 48% of the population rents.
