Simply put, the real estate absorption rate is the formula that indicates whether it is a “buyer’s market” or a “seller’s market”. It denotes how well the market is absorbing the current inventory of listings.
The ultimate question is, “Is the current inventory level shrinking or growing?” Shrinking inventory favors sellers and growing inventory favors buyers.
Absorption rates, in any defined market, are considered one of the very best indicators of whether that market is a seller’s market, a buyer’s market or a neutral market. It is based on how many Read the rest of this entry »
Spoken by Julie Q. Fuelling |
Many Katy Realtors still do not understand the process of a Short Sale even though there are many such properties in Katy. What does it take to get a get a Short Sale written and closed? Acquaint yourself with the basics by reading this article and call me at 713-818-2404; I am an expert in the field of Short Sales!
Let’s start at the beginning, what is a “Short Sale”. A Short Sale is where the net proceeds from the sale of a property are less than what is owed to mortgage companies and other lienholders. The seller receives no funds from the sale and all lienholders must agree to the transaction.
The seller’s best interest is served by having any sale approved by the mortgage company. Although the seller’s credit is adversely affected, Read the rest of this entry »
Spoken by Julie Q. Fuelling |
by Danielle Hale, Research Economist
- Headline CPI is the measure of inflation based on the Consumer Price Index most often discussed in the media because it is what most consumers actually feel in their pocket books—the changes in the prices of all goods. Headline CPI is used to adjust Treasury Inflation Protected Securities and individual income tax parameters.
- Core CPI is a measure of inflation also based on the Consumer Price Index and reported by the Bureau of Labor Statistics. It is called “Core” inflation, because it excludes volatile food and energy prices, which tend to swing in response to economic rather than monetary shocks. It tends to be used by monetary policy makers.
- Looking at data from the late 1990s through the present, we see that headline inflation is more varied and is frequently but not always higher than core inflation.
- Core inflation, has remained in the 1 to 3 percent range (denoted by green brackets).
- Whether the Fed is intentional about it or not, core CPI has tracked a 2 percent target fairly closely in the last decade. Even in recent months, when talk of inflation and deflation is grabbing headlines, Core CPI has remained at 1.7 to 1.8 percent on a year-over-year basis—well within the range it has maintained for the last 10 years.Copyright National Association of Realtors, Reprinted with permission
Spoken by Julie Q. Fuelling |
One of the benefits of writing a blog is that, sometimes, I can brag about me. This is one of those posts, forgive me for being self-indulgent, please.
What are those letters I often put behind my name? What’s a GRI?
Realtors who hold the Graduate Realtor Institute (GRI) designation have dedicated their time and money to advanced real estate education to bring you above-standard professional service. The GRI curriculum incorporates a common body of knowledge for progressive real estate professionals; within certain perimeter it is State-specific as are real estate laws.
A Realtor who possesses the GRI designation has not only completed a course of study, Read the rest of this entry »
Spoken by Julie Q. Fuelling |
The Housing and Economic Recovery Act of 2008, the most sweeping housing legislation since the Depression era, was passed by the U.S. Senate and House of Representatives at the end of last month and was signed into law by President Bush. The new law addresses various aspects of the housing downturn, including assistance for homeowners who are behind on their mortgages, federal oversight of Fannie Mae and Freddie Mac, and funding for cities to buy and fix up foreclosed properties.
Many of the provisions of the new law go into effect October 1, 2008 but for first-time home buyers who bought, or will buy, their home between April 9th of this year and July 1, 2009, there’s an immediate bonus — a tax credit of up to 10 percent of the sales price, up to $7,500. Note that this is a tax credit, not a tax deduction. A deduction is an item that is subtracted from your annual income before income taxes are calculated. A tax credit is Read the rest of this entry »
Spoken by Julie Q. Fuelling |
I make a point of telling my buyer clients, “I’m so much fun to work with until you break one of my Four Rules for Real Estate Success. Then, it’s not a pretty picture!”
- Location, location, location
- It’s better to buy an ugly house on a good lot; you can always fix a house but a lot is permanent.
- Buy on the low end, price-wise, of a higher neighborhood.
- The only time to think about resale is before you buy.
So, there we go! Should I smile or throw an ugly tantrum?
For information about Katy area homes, you can search the entire Houston MLS from this blog. For questions or to tour any area homes, contact me directly at 713-818-2404. I have specialized in Katy real estate for over 19 years. Experience does count!
Spoken by Julie Q. Fuelling |
Reprinted from Wikipedia
In real estate, a “short sale” is when a bank or mortgage lender agrees to discount a loan balance due to an economic hardship on the part of the mortgagor. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender in full satisfaction of the debt.
For example, if the unpaid balance of a loan is, say $100,000, and a property sells for $90,000, under a short sale the lender might accept $90,000 as payment in full. In such instances, the lender would have the right Read the rest of this entry »
Spoken by Julie Q. Fuelling |
Copyright © 2007 The Katy Texas Blog That Never Runs Dry