August 31st, 2008
Buyers no longer interested in fixer-uppers
Turns out, a growing number of home buyers want nothing to do with fixer-uppers.
Turns out, a growing number of home buyers want nothing to do with fixer-uppers.
Here’s a sure sign that the housing market is struggling: Walk through your neighborhood. Have all those “For Sale” signs you used to see become “For Rent” signs? Then you know there’s trouble in the housing market.
It seems that many real estate professionals are still unwilling to face the truth that the housing market still stinks.
It’s hard not to be negative when you’re writing about residential real estate. But yesterday I posted about an increase in the sales of existing homes. Today, I’m spreading a bit more sunshine: The sales of new homes increased in July, too.
Well, here’s a change: Today, I bring good news. Sales of existing homes actually increased in July, reaching their highest level in five months, according to the National Association of Realtors.
According to the U.S. Census Bureau, there are a record number of homes sitting vacant. This is bad news for neighborhoods.
From early on in this presidential campaign, I’ve been hoping for some substantive debate on the problems of the housing industry. What plans do Barack Obama and John McCain have to make sure that our country doesn’t suffer another mortgage and foreclosure crisis like the one it’s suffering through now? Unfortunately, the recent housing debate between the two candidates has been far from enlightening.
I’ve written about this before, but it bears repeating: You can’t really call a home environmentally friendly if it’s the size of a small country.
I always laugh when I hear real estate agents say that the costs of owning a home are usually little more than the costs of renting. From personal experience I can tell you that is nonsense.
The cost of owning a house includes far more than your monthly mortgage. There are utility bills, which are always [...]
I’ve criticized the major real estate associations in the past for spinning bad real estate news. The associations have blamed the media for making the housing crisis seem worse than it is. They’ve claimed that the current real estate slump is just a natural correction. And they’ve spent months predicting that we’ve finally reached the bottom of the market.
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