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Treasury Department To Challenge New Mortgage Rules

June 22nd, 2011 | Comments Off | Posted in News

Although big banks that own mortgages in the US have been suffering, new home buyers have been able to reap all of the benefits. Housing pricing are the lowest that they have been in decades, and the 30 fixed interest rate is below 5%. However, banks want to enact a set of rules that would cause interest rates to soar. Reportedly, the US Treasury Department is taking action. Instead of letting the new Dodd-Frank financial law to go into effect, members of the Treasury Department have asked the public for feedback as well as suggestions.

Several groups that represent minorities and the poor believe that the new mortgage rules will have a negative impact on the people that they represent. In fact, it will become nearly impossible for first time home buyers to make a purchase unless they have a minimum of 20% of the total purchase price. Normally, mortgage companies look for no more than 10 to 15% down payments. Since the financial collapse of the housing market, lenders are looking for more secure investments.

Since only a small percentage of all buyers would be able to come up with 20% down, this means that mortgage companies would charge ‘high risk’ customers higher interest rates. This could very well mark the beginning of the prime-sub prime mortgage market. Consumers with less money and poor credit expect to pay more, but the real question that both the Obama administration, the bank industry and the Treasury Department are asking is how much do they really need to pay?

Guide To Renting A House In Pretoria

June 17th, 2011 | Comments Off | Posted in Guides

All renters should have a long list of requirements before they go to visit available properties. It is easy to be enamored by vaulted ceilings and hardwood floors, but your new home should be able to meet all of your criteria. First, consider how far you will have to commute to school or work and then compare that to the amount of rent you will be paying each month. It may be nice to walk into a beautiful, sprawling house after a long day at the office, but you also don’t want to spend more than you need to for housing.

Another factor that you should consider when looking for houses to rent in Pretoria is space. While you might be able to find a home that is moderately priced and in a great location, it may come with fewer bedrooms or smaller common living areas. You don’t necessarily need to sacrifice size for other conveniences, but you will need to make some concessions. This is why it is imperative that you look at as many different houses as possible before you sign a lease.

While you might have your sights set on renting a house, don’t be afraid to test out all of your options. There are also flats to rent in Pretoria that are large and spacious. In fact, you might be able to find a flat that suits all of your needs, even if your first intention was to rent a house. Make sure that you check each house that you visit for adequate closet space, ask about parking if necessary and learn about the local neighborhoods. You can do the majority of your research online so that you can figure out whether or not it is more advantageous for you to rent a house or live in a flat.

Look For Share Accommodation After You Move Out Of Your Parents’ House

June 17th, 2011 | Comments Off | Posted in Guides, Property Rental

Students and young working professionals often have access to little money. While you might not be able to afford to rent a sprawling apartment on your own, you can certainly move in with a responsible roommate. Even if already have a roommate in mind it still makes sense to look into share accommodation. Apartment searching takes time, and between paying to submit applications and running all over town to view available units your money will quickly be spent. Instead, you should look for a new place to live via the web and find a great housing arrangement in less time than you think.

If you consider the fact that thousands of other young adults are also looking for apartments and roommates, you will know that share accommodation can be a mutually beneficial situation for all parties involved. Unlike living in a college dorm you will have the ability to hand pick your new roommate. Look for someone that you have many hobbies and interests in common with so that you will get along well. Set up firm rules and guidelines before you move in so that you can avoid conflict.

Some websites will allow you to browse and post housing advertisements for free, however, you will likely run into many time wasters. Get in contact with other people that are serious about fining a new roommate and you will have a much better outcome. If you have never lived with a roommate before you will quickly learn that this unique relationship requires lots of compromises. Soon, you and your new roommate will be hanging out together, cooking meals in your new kitchen and generally enjoying each other’s company. Use the web to find share accommodation so that you can save money, move into your very first apartment and learn how to become a responsible adult.

Real Estate Market In San Francisco Improving

June 9th, 2011 | Comments Off | Posted in News

Casual shoppers might not be attracted to the luxury real estate market in San Francisco, however, millionaires and jet setters are looking to cash in the deals that are to be had. Recent home sales reports show that San Francisco luxury real estate is being sold at a much higher pace. Unlike other areas in the country, San Francisco has several prominent neighborhoods that are home to residents in lucrative careers. Although there are still homes being foreclosed on, it is much easier for someone with a high income to get refinancing than it is for a homeowner that has recently been laid off.

Some of the most popular neighborhoods amongst shoppers are Pacific Heights and St. Francis Wood. The main draw is that home prices in these areas have not dropped substantially since the housing bubble burst. Instead, local homeowners have been able to keep up with payments as well as maintain their properties. For the first time in several years, luxury homes in San Francisco have fallen slightly. This means that prospective buyers stand to make a gain by making a purchase now.

The news is not the same in other parts of the US. Luxury homes are still being sought after, however, buyers are not certain that the housing market has bottomed out. As a result, many home shoppers are watching and waiting to see if they can get a better deal on similar homes elsewhere. Real estate agents in San Francisco are confident that conditions will continue to improve until they are in line with the number of sales that took place before 2008.

Will The Property Market Ever Rebound? – 25% Of Real Estate Agents Say ‘No’

June 7th, 2011 | Comments Off | Posted in News

An alarming new study shows that 25% of real estate agents have moved on and quit their full-time jobs. Although property analysts believe that there are real signs of improvement, a great deal of professional real estate agents don’t seem to agree. With home sales at an all-time low, there are fewer commissions checks to go around. Some real estate agents have been able to get by through selling multi-million dollar properties and transitioning towards commercial properties. Even still, someone has to remain behind to sell the starter houses and tract homes.

With fewer real estate agents available to represent sellers, it will take even longer for houses to be sold. While many in the real estate sector try to remain optimistic, the truth is that thousands of seasoned real estate professionals are now considering other endeavors. There are still many real estate agents and brokers around, but they will be forced to spend more time advertising, developing clients lists and consulting with existing customers.

Some experts believe that the sudden exit of 25% of all real estate agents will actually help to improve the market, but others think that it will cause the remaining real estate agents to become overburdened. In due time, both the state of the property market as well as the real estate agent profession as a whole will become apparent. For now, property prices are still falling, albeit at a lower rate than they have in the past. Some real estate agencies are actively recruiting new agents.