Archive for June, 2011

HOW TO TELL IF YOUR MARKET HAS HIT BOTTOM

By: Maria Hass*

Recently, the Wall Street Journal published an article “How to Tell if Your Market has Hit Bottom”. This is a popular question every real estate investor would ask. The report describes three key factors that influence this outcome namely – Jobs, local rents and foreclosures. The report is helpful in identifying key elements that influence prices. Also, the rent vs buy formula suggested by the article to determine whether the market favors renters or buyers helps in arriving at an informed decision. Based on this article, I have gathered the following conclusion;
1. The real estate market is as local as its neighborhood’s performance. Beware of using national data to influence your real estate decisions.
2. Many areas in Arizona favors buyers than renters because of the 50% to 85% price decline from the peak. However, be careful about investing in foreclosure neighborhoods. These neighborhoods may still go down in value.
3. Invest in homes that have jobs and least affected by foreclosures. The cheapest areas are NOT always the best areas to invest in. Price is NOT the only consideration when buying a home.
For a full story go to http://online.wsj.com/article/SB10001424052702303657404576363143130774406.html

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June 25, 2011 at 7:03 am Leave a comment

Waiting Period to Buy a Home after a Short Sale, Foreclosure or Bankruptcy

Many sellers are uncertain about what would happen to their future after a short sale, foreclosure of bankurptcy. One aspect that many homeowners weigh is their ability to own a home again. Click on the link “http://tinyurl.com/3bvok2j to find out the waiting period required to buy a home after a short sale, foreclosure or Bankruptcy.
Every situation is different, seek tax and legal advice to find out which option is right for you.

*Information provided by: Lily Dee of the Lending Company (623) 826-9498

June 1, 2011 at 10:55 am 2 comments


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