How Debt vs. Income Affects Real Estate Loans. WHAT it costs you to live compared to how much money you make has a direct bearing on how big a mortgage you can afford. It is called the debt-to-income ratio. Does this sound daunting? A ratio is comparative, one thing contrasted with another or, the relationship between two variables. Click here to read more.
Foreclosures Up 33 Percent From Last Year Despite Decreasing for Second Straight Month. Colorado, Utah, Texas Post Highest Foreclosure Rates. RealtyTrac released its April 2006 U.S. Foreclosure Market Report, which shows 91,168 properties nationwide entered some stage of foreclosure in April, a 10 percent decrease from the previous month but a 33 percent increase from April 2005. The report shows an April national foreclosure rate of one foreclosure filing for every 1,268 U.S. households. Despite a dip in foreclosure activity, California documented the second most foreclosure filings of any state for the second straight month and accounted for nearly 10 percent of the nationwide total. A total of 8,839 California properties entered some stage of foreclosure in April, a 20 percent decrease from the previous month but a 91 percent increase from April 2005. The state's foreclosure rate of one foreclosure filing for every 1,382 households dropped below the national average. Click here to read more.
No Spring in Real-Estate Step. In 2006, spring has seen record numbers of people lining up to sell their homes, but there's been no subsequent rise in the rate of sales. Indeed, sales activity in April 2006 was down 30.7 percent from April 2005, despite the existence of almost 20,000 homes for buyers to choose from. That's the biggest year-on-year decrease in sales rates since April 1995. Click here to read more.
Real Estate Bubble: Fact or Hype? The word 'bubble' has been used so often it has lost its significance. Many economists scoff at the idea while others have been waiting for this over-priced real estate market to 'crash' for years. Somewhere in the middle lies the truth and the consequences will be felt by hundreds of thousands of unsuspecting real estate owners. By the end of 2007, no one will need to ask if there had been a real estate bubble.
January 1997 May 2006
Median Price $177,600 $540,000
Media Income $44,385 $60,379
Interest Rate 7.5% 6.5%
Affordability 40% 14%
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Beware of selling home without real estate agent. Full-time professional real estate agents know local market values, whether they are rising or falling. By attempting to sell alone, you could be vastly underpricing your home. Or maybe it is overpriced so prospective buyers will stay away. Most prospective home buyers shy away from ''for sale by owner'' newspaper classified ads. They fear the seller is strange for not listing with a realty agent. Although you paid $795 to put your listing in the local MLS, that doesn't mean it will be actively marketed. The MLS is a very powerful marketing tool, but your home also needs exposure on the Internet, such as wwwRealtor.com, and other websites, which only a pro-active listing agent can provide. Offering a 2 percent sales commission to a buyer's agent is not realistic. In today's competitive home sales market, you should list with a successful, aggressive real estate agent to get your home sold and to comply with today's disclosure requirements to prevent future legal problems. Click here to read more.
~Tina Jan~
Coldwell Banker Kivett-Teeters
1655 E. Sixth St.
Beaumont, CA 92223
Work: 951-845-5520 Ext. 105
Fax: 951-845-4916
Cell: 909-446-2666
Toll-Free: 1-877-TINAJAN
tina.jan@coldwellbanker.com
www.tinajan.com
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