Watch this video to get a good idea on the 2012 housing market. Conditions are still slow but “generating momentum.” Steady but modest improvement is expected through 2012. Let us know if you have questions about your own particular situation. We are here to help you make an informed decision.
http://money.cnn.com/video/pf/2011/12/21/pf_ate_real_estate_outlook_2012.cnnmoney/
Wednesday, February 29, 2012 | Add a comment
Do you really know the square footage of your home? Do you really know if that room you use as a den could be considered a bedroom in case you want to sell? You’re not alone. Take a look at this article for instructions on how to measure using the most common technique.
A home buyer purchasing a typical American home at the prevailing average mortgage rate today would have a mortgage payment that is not much different from what a home buyer would have faced 30 years ago.
In 1981, home prices were much lower but mortgage rates were reaching 18 percent. Thanks to record low mortgage rates, the monthly payment obligations have been greatly reduced.
Ever wonder how the “typical buyer” comes up with their down payment and how this has changed over the past 5 years?
One interesting finding in this “Profile of Home Buyers” survey by the National Association of Realtors, is that there was a 16% increase in the use of their “savings” as the source of downpayment.
It will be interesting to see how 2011 compares when that data is compiled! Read this post below for more insight.
