Boston Bucks the Trend ... I'm Just Sayin

Zillow: U.S. Home Values Fall In October, But Boston Bucks The Trend 

National home values fell for the second month in a row in October according to a new report from real estate portal Zillow. U.S. prices fell to $162,800 in October from $162,900 in September, a decline of 0.1 percent, according to Zillow's Home Value Index. The last time home prices fell two months in a row was October 2011.

New Flood Bill calls for a Four Year Delay on Biggert and Waters

Flood Insurance Affordability Bill Introduced
On October 29, 2013, Senators Robert Menendez (D-NJ) and Johnny Isakson (R-GA) introduced the NAR-supported “Homeowner Flood Insurance Affordability Act” (S. 1610), to delay unintended rate increases under the Biggert-Waters law and its implementation.

Why Arn't Builders Building Anymore!!!

Builders' Confidence Wanes in October

 

Daily Real Estate News | Thursday, October 17, 2013

Builder confidence in the market for newly-built, single-family homes dropped in October as concerns mounted over rising mortgage rates and uncertainty sparked by the government shutdown, according to the National Association of Home Builders/Wells Fargo Housing Market Index.

Flood Insurance Rates Could Kill Property Values

You Could Be  Underwater ..... No, Really!

Federal flood insurance rates are on the rise, and the sharp increases from New England to Hawaii are hurting property values, residents and legislators say.

The law, known as the Biggert-Waters Flood Insurance Reform Act, is rolling out in stages. A part of the law that went into effect Oct. 1 removed flood-insurance subsidies for more than a million home owners nationwide. The subsidies applied to properties that existed before the drawing of flood insurance rate maps, The New York Times reports.

Attention First Time Home Buyers

Here is a great article posted by Bank of America.

Great information if your getting ready to buy. Especially point number one....it can save a lot of time, and save you from disappointment. Buying your first home is an emotional roller coaster. And in todays market it is extremely competitive. You need to do know what you can afford before you start looking.

Homebuilding Plagued by Shortages ... Where have all the builders gone?

 

Great Article and Food for Thought.

As you read this article posted in the Daily Real Estate News put out by the National Association of Realtors. Read between the lines. What they are also telling us is that there is a shortage of men and women coming into the construction trade. The numbers for the next generation of builders / contractors are dwindling. Skilled labor seems to be falling by the wayside as the newer generation is looking for careers in different fields. Could be great opportunities for anyone willing to do the work.

Home Prices on the Rise

Yes Home Prices are on the Rise.

     Do the shortage of homes to sell, prices are creeping up. It's all about supply and demand. There are more buyers then sellers... so multiple offers for the same home has become the norm. Buyers assuming the highest price is going to win (which sometimes is the case) will offer asking price or higher than asking price in hopes of getting the home of their dreams. That raises the bar for the next comparable home going on the market. But wait there's more. Interest rates are starting to climb. This is creating an even greater rush to purchase. So all in all ..... it should be a pretty busy summer in the real estate market. Below I've posted an article from the National Association of Realtors on line magazine. Anyway ..... Happy Fourth of July to all. Hope it's a great and safe one.