Insurance is determined based on what it would cost to rebuild your home, not its market value — and as we know, the cost of construction has gone up.
Read this informative article for tips on how to protect against this increase in costs in your coverage.
http://online.wsj.com/article/SB10001424052748704487904576267512488763924.html
A home buyer purchasing a typical American home at the prevailing average mortgage rate today would have a mortgage payment that is not much different from what a home buyer would have faced 30 years ago.
In 1981, home prices were much lower but mortgage rates were reaching 18 percent. Thanks to record low mortgage rates, the monthly payment obligations have been greatly reduced.
http://economistsoutlook.blogs.realtor.org/2011/10/06/monthly-payments-for-home-buyers/
Found this great infographic at Fixr.com that shows what home improvement projects and rooms that home owners are undertaking in the US today.
Click the image to enlarge
Source: Fixr Remodeling Cost Guides
Take a look at “new-housing” under construction figures and how they compare with past years activity in this informative link from Mortgage Daily News.
http://www.mortgagenewsdaily.com/data/housing-under-construction.aspx
Some bright spots for new construction are appearing on the horizon according to Lawrence Yun, Chief Economist and Senior Vice President of Research for the National Association of REALTORS®.
Read the information in this link about the “faster return to healthier markets” that Mr. Yun sees ahead of us.
http://economistsoutlook.blogs.realtor.org/2011/09/15/lowest-housing-starts-since-world-war-ii/
Appraisals can seem mysterious to potential home buyers, so read this article to get a better understanding of what to expect.
I am consistently asked about “kitchen remodels” by homeowners thinking of selling in the near future.
It is not uncommon for 70 percent of kitchen remodeling costs to be recouped upon resale. Take a look at this informative article.
Read this helpful article discussing “home staging when trying to sell a home” from fixr.com.
Interesting point made by the Mortgage Daily News which indicates that most homes that are professionally staged will end up bringing in roughly 3% more than the anticipated price!
Check out this interactive map from the California Association of Realtors. Simply click on the link below, then select the area you want information for.
And you should know that 13,780 homes will sell today and 13,780 homes will sell tomorrow. What are these numbers?
Well, according to the National Association of Realtors’ (NAR) most recent housing report, this number represents the average number of homes that are being sold EVERY DAY. Pretty powerful if you look at the numbers.
http://kcmblog.com/2011/09/26/13780-homes-sold-yesterday/
