FRIDAY FACTS
September 24, 2010
Zillow reports that the most stable markets in the U.S. are: Grand Rapids, Michigan; Philadelphia, PA; Lincoln, Nebraska; Columbia, S.C.; Canton, Ohio; Pueblo, Colorado; tied for 7th: York, PA, Yakima, WA, and Washington, D.C.; and Denver, Colorado.
From Inman News by Tara-Nicholle Nelson, “Many who can afford to buy homes are now electing to rent … some until the price is right, others indefinitely. Additionally, we’ve seen that homeownership without equity, without income or with an unsustainable mortgage (balance or payments) can be more economically burdensome than beneficial. For this reason, it’s increasingly crystal clear that until the job market recovers, the real estate market will languish.”
An annual survey by Bankrate.com shows that closing costs on a home purchase are now about 2% of the mortgage amount, up as much as 37% from a year ago.
Kevin Brass notes in the International Property Journal that international buyers dominate Miami sales. Currently, 60% of home sales in South Florida involve a foreign buyer. Florida accounts for 20% of international sales in the U.S.
RISMedia reports that the number of people who sought local information on their smart phones grew 51% since last year, with the fastest growing method of access through downloaded apps.
The Real Estate Book iPhone app is another free app giving the ability to:
§ Search for home listings by city & state or zip
§ Map listings and get directions from current location
§ View property details and photos of listings
§ Save favorites and share or write notes and attach photos
§ Email or call the agent directly from the listing
§ View past searches and perform advanced searching
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