The Recent Rise in Housing Prices
December 24th, 2009 by adminIt has been a while since those words have been seen.
Rent to Own Houses at Fantastic Prices
December 9th, 2009 by adminA rent-to-own house plan especially in Chicago is really lucrative, especially for the buyers in today’s disintegrating real estate market. The deal will get locked in the present rate providing the sellers with more than the house rent which might go through wear and tear. Buyers can lock the amount for the house in today’s low prices and pay the amount within ample time provided to them.
Here is the process:
- Your demands will be listened to, by rent-to-own experts and will assess the whole situation, your liking and affordability.
- They will start calling property and house sellers in your area and will filter out those sellers and property owners who are ready to relent to the Rent-to-Own process.
- Once they find an apt seller worthy of your interest and affordability, you will go and check out that house.
- If you do not like the house, just tell your Rent-to-Own consultant and they will start the same search again.
- Once you like the house, they will start detailed negotiation with the seller and update you with the proceedings.
- Once all the terms are agreeable to seller and you, they will put very strong contract which is Pro Buyer to protect your interest in Rent To Own deal (this contact itself is worth $5000 if you get the papers ready with a competent lawyer)
- Once the contract is signed and your down payment is deposited in the original owner’s bank account, you can move into your new home on a agreed upon date
- Our experts will take care of all the contracts and will explain you all the related clauses.
- They will teach you how to protect your interest in the property, and deal with the payments and procedures.
Benefits for Sellers
- High sales price for the house, Even if the present demand is low for your home
- The seller can charge higher than usual rent.
- The buyer is expected to book the Non-Refundable option consideration up by paying some money initially.
- The option money is for the seller to keep should the buyer defaults or decides not to buy.
- No maintenance, no landlording required because buyers themselves will feel that it is their home and will pay on time.
- Larger Market of Buyers including traditional buyers, renters and investors will be interested
Benefits for Buyers
- Faster Equity Growth and rent money is working toward the house purchase
- Option consideration is advanced for the house purchase
- At least 5% down payment plus closing costs and prepaid are needed for buying a house traditionally. Here, first month’s rent and a small option deposit is required.
- Any increase in property value will mean that your equity is increasing in the home. You get a appreciated home within years.
- One can also arrange for sale of option with some others interested in the property and opt out.
- A Chicago rent to own homes requires no bank qualifications. The only requirement is the ability of the buyer for monthly lease payments and the potential home buying ability.
Which Direction Will Oil Prices Go?
December 2nd, 2009 by adminEconomists have speculated that a shift toward clean energy production will lead to decreased demand for oil in the long run, but the short run supply and demand equation is much less certain. Down from last summer’s highs that neared $200 per barrel, today oil is priced much more modestly although supply constraints exist and global manufacturing is leading to increased demand for petroleum throughout Asia. These dual constraints suggest that oil prices will remain relatively high until alternatives allow demand to fall faster than the finite level of supply available for refineries.
In the short run, oil prices should remain relatively stable around $70 per barrel as supplies remain strong while demand is only slightly up. Consumers are paying more at the pump due to increased regulations and taxes more than just changes in the fundamental price of oil ? increased costs of refinement, combined with higher municipal taxes on final product oil have resulted in increased prices at the pump even when crude oil prices have remained relatively steady. In California, taxes on oil are near all time highs, as legislators turn to petroleum taxes in an effort to help meet both fiscal and environmental goals at the local and regional level. Therefore, the end-user prices of oil may increase even if raw crude prices remain steady in the near future.
Many analysts are divided on the long-run prospects for oil prices, which reflect a variety of factors including economic growth in China and India. While these developing nations (referred to as BRICs by analysts) continued to experience robust economic growth, they are also actively restructuring their production capabilities so that prospects for immediate spikes in oil demand are somewhat limited. Look for oil prices to slowly increase over the next year based on this increase in demand, while consumers seek ways to mitigate energy prices through efficiency and conservation.
Central San Diego Real Estate Market – Mid Year Snapshot Of Median Prices (2006) – Single Family Homes
October 11th, 2009 by adminCentral San Diego Real Estate Market – Mid Year Snapshot of Median Prices (2006) – Single Family Homes
As of this writing, the San Diego real estate markets appears to have shifted from one that favors sellers to one that favors buyers. However, this premise may not hold true for all communities within San Diego, as median prices for some communities continue to rise while others fall.
While there are many metrics to evaluate the real estate pricing trends of a community, one commonly used parameter is to evaluate the median price of homes from one point in time against a prior point of time. The median price reflects the point at which half the homes are above a particular price point, and half the homes are below a particular price point. The median price metric provides one method to analyze the direction of home prices, but should not be used as the sole source of data from which to form conclusions.
The data below is a comparison of median prices for various communities in central San Diego County, comparing data from June 2005 against data for June 2006. This information is only one metric at a particular point in time, and other metrics or data from future months may support or dispute the pricing trends noted below. For some of the San Diego communities presented below, very few homes sold during June 2006, which diminishes the usefulness of the median price metric.
COMMUNITIES WITH INCREASES IN MEDIAN PRICE – SINGLE FAMILY HOMES – JUNE 2006
The data below pertains only to the sales of single-family homes, and does not include condominiums or townhomes. The data is organized by the magnitude of change in median price, with the highest change in median price presented first.
For the Coronado real estate market, the median price was $1,775,000, which represents a 14.7% increase from the same time last year. Approximately 15 homes sold in June 2006 (21 homes sold in June 2005).
For the Point Loma real estate market, the median price was $1,024,068, which represents an 11.4% increase from the same time last year. Approximately 20 homes sold in June 2006 (14 homes sold in June 2005).
For the University City (UTC) real estate market, the median price was $780,000, which represents a 10.6% increase from the same time last year. Approximately 5 homes sold in June 2006 (19 homes sold in June 2005).
For the La Jolla real estate market, the median price was $1,692,500, which represents a 10.3% increase from the same time last year. Approximately 28 homes sold in June 2006 (38 homes sold in June 2005).
For the Logan Heights real estate market, the median price was $425,000, which represents a 7.6% increase from the same time last year. Approximately 13 homes sold in June 2006 (14 homes sold in June 2005).
For the Paradise Hills real estate market, the median price was $507,500, which represents a 5.7% increase from the same time last year. Approximately 8 homes sold in June 2006 (16 homes sold in June 2005).
For the Mission Hills real estate market, the median price was $927,500, which represents a 3.1% increase from the same time last year. Approximately 11 homes sold in June 2006 (12 homes sold in June 2005).
For the Scripps Ranch (Scripps Miramar) real estate market, the median price was $759,250, which represents a 2.8% increase from the same time last year. Approximately 34 homes sold this month (43 homes sold in June 2005).
For the San Carlos real estate market, the median price was $563,000, which represents a 2.4% increase from the same time last year. Approximately 12 homes sold in June 2006 (16 homes sold in June 2005).
For the Del Cerro real estate market, the median price was $557,500, which represents a 2.1% increase from the same time last year. Approximately 13 homes sold in June 2006 (30 homes sold in June 2005).
For the Normal Heights real estate market, the median price was $676,250, which represents a 1.7% increase from the same time last year. Approximately 20 homes sold in June 2006 (19 homes sold in June 2005).
COMMUNITIES WITH DECREASES IN MEDIAN PRICE – SINGLE FAMILY HOMES – JUNE 2006
The data below pertains only to the sales of single-family homes, and does not include condominiums or townhomes. The data is organized by the magnitude of change in median price, with the highest change in median price presented first.
For the Old Town real estate market, the median price was $580,000, which was a 19.1% decline from the same time last year. Approximately 5 homes sold in June 2006 (14 homes sold in June 2005).
For the Golden Hill real estate market, the median price was $451,000, which was a 16.4% decline from the same time last year. Approximately 10 homes sold in June 2006 (13 homes sold in June 2005).
For the Pacific Beach real estate market, the median price was $851,960, which represents a 14.8% decline from the same time last year. Approximately 15 homes sold in June 2006 (19 homes sold in June 2005).
For the Tierrasanta real estate market, the median price was $570,000, which represents a 12.6% decline from the same time last year. Approximately 9 homes sold in June 2006 (17 homes sold in June 2005).
For the North Park real estate market, the median price was $560,000, which represents a 9.7% decline from the same time last year. Approximately 31 homes sold in June 2006 (16 homes sold in June 2005).
For the College Grove real estate market, the median price was $475,000, which represents a 5.9% decline from the same time last year. Approximately 38 homes sold in June 2006 (40 homes sold in June 2005).
For the City Heights real estate market, the median price was $390,00, which represents a 5.3% decline from the same time last year. Approximately 17 homes sold in June 2006 (30 homes sold in June 2005).
For the Mira Mesa real estate market, the median price was $510,000, which represents a 4.7% decline from the same time last year. Approximately 45 homes sold in June 2006 (47 homes sold in June 2005).
For the Linda Vista real estate market, the median price was $510,000, which represents a 4.2% decline from the same time last year. Approximately 16 homes sold in June 2006 (17 homes sold in June 2005).
For the Mission Valley real estate market, the median price was $510,000, which represents a 3.8% decline from the same time last year. Approximately 7 homes sold in June 2006 (18 homes sold in June 2005).
For the Encanto real estate market, the median price was $435,000, which represents a 3.3% decline from the same time last year. Approximately 36 homes sold in June 2006 (47 homes sold in June 2005).
For the Clairemont real estate market, the median price was $555,000, which represents a 2.6% decline from the same time last year. Approximately 30 homes sold in June 2006 (34 homes sold in June 2005).
For the Sorrento Valley real estate market, the median price was $861,000, which represents a 1% decline from the same time last year. Approximately 6 homes sold in June 2006 (5 homes sold in June 2005).
ADVISORY
Homebuyers and home sellers should keep in mind that the data above is simply a snapshot in time, and is not conclusive of the pricing trends for any community. For some communities presented above, very few homes were sold during June 2006, which makes the use of the median price metric of limited value. The data must be evaluated over a longer duration, and involve multiple metrics to fully understand enduring market trends. Contact your Realtor to obtain information about enduring market trends for any given community.
