Category: Real Estate

Home Prices Near a Double Dip!

With the latest data pointing to a double-dip in home prices, it has become increasingly clear that the wobbly economic recovery won’t be getting any help from the housing sector.

Existing home sales in February sank 9.6% from the previous month, while prices fell 5.2% to a median of $156,000, the lowest since April 2002. Existing homes comprise 90% of the housing market.
Meanwhile, new homes sales in February plummeted to an annual rate of 250,000, far below the norm of 700,000 and a level half that of 1963, when the United States had 120 million fewer residents than its current population of 310 million. The median sales price plunged 8.9% year-over-year.

But the worst news came with last Tuesday’s release of Standard and Poor’s Case-Shiller Home Price Index. The index average of 20 major housing markets in the United States fell 3.1% in January, putting it within 1.1% of its April 2009 low. A drop below that level would establish a new post-peak low – the dreaded “double-dip.”

Pay off the Back Taxes and the house is yours

Getting a deed for a foreclosed home by just paying the back taxes is possible, but usually requires a little extra cash ($200 or so). Here’s the easiest and cheapest way to get those deeds, outside the auction, and with very little competition.

Real Estate Investing

With the highest unemployment since 1982 and the staggering rate that foreclosures are increasing, flipping houses in today’s market can seem like a scary endeavor. Unless you are a savvy real estate investor you would not be thinking about flipping a house or even buying one for that matter. Or would you?