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Saturday, May 19, 2012
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Both the expectation for home prices and the percentage of those who think the U.S. economy is on the right path reached record highs in Fannie Mae’s April 2012 National Housing Survey.
Americans continue to expect home prices to go up, with the projection averaging 1.3 percent over the next 12 months, the highest value recorded.
Is it possible to buy a home and sell your home at the same time anymore?
And what should you tackle first? Should you get an offer on your home before you try to find a new place to buy? Or should you find the home you want before putting yours on the market? And will a bank even allow you to buy without selling anymore?
These questions are all valid because real estate has changed in the past few years. Before the real estate banking crisis of 2008, it was very easy to leverage the equity you had in your current home. By opening a home equity line of credit (HELOC), you could borrow up to 95 or even 100 percent of your home’s value and use that money as your down payment for the purchase of your next home. You could close on the new home and then sell yours immediately afterwards.
Nowadays, the equity in your home has likely slipped away and lenders rarely allow such leveraging. It’s a new market and we have to find a new way to do things. It was stressful before and it can be even more stressful now. It’s difficult to precisely time a real estate transaction but for many, the financial stakes are high.
Though there may be more stress and the process can be more difficult, there is still a way to buy and sell a home at the same time. However, before you begin, you need a well thought-out plan, a good agent on your team and have all of your ducks in a row in advance.
Of course, there are things you and your agent can do to increase the odds that your multitasking will pay off. Here are five tips to get you started:
Housing Crisis to End in 2012 as Banks Loosen Credit Standards
DSNews.com – Thurs, Feb 16,2012
Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit.
Great news! Melbourne is considered one of the 5 best places to retire in the United States! Read all about it in "5 Great Cities For Retirees."
(http://realestate.yahoo.com/promo/5-great-cities-for-retirees.html
If you have been thinking about living near the water and the beach then you might want to consider Melbourne, located on Florida's Space Coast. The town has 33 miles of beaches, endless access to the Intracoastal, and plenty of nature preserves. There are quite a few active communities to choose from as well.
After half a decade of withering sales and slumping prices, there are strong and diverse signs that the single-family housing market is poised for a rebound.
The housing market is showing signs of improvement according to data released from Realtor.com.
Within this year, in Florida which was one of the states hit hardest by the housing market crash, median list prices for single family homes, condos, townhomes, and co-ops surged.
Mortgage Rates Inch Closer to All-Time Lows
Mortgage rates continued to improve today, adding on to yesterday's already impressive gains. Best-Ex moved solidly down to lower of the two rates it had been straddling.
That brings mortgage rates back even with or within an eighth of all time lows (depending on your scenario).
Melbourne, FL 
Thunderstorm 74 oF