Friday Facts October 22, 2010

FRIDAY FACTS
October 22, 2010

Paul Bianchina has an article in Inman News on the “3 L’s and 4 C’s of House Hunting”. Integral to purchase, but impossible or potentially very costly to change are: location, lot size, and layout. He cautions that buyers shouldn’t get hung up on the 4 “C’s” that can sometimes blind you to the potential in an otherwise ideal home: condition (as long as there are no major structural items), color, clutter, and cleanliness.

The number of foreclosures completed in Barnstable County last month was up 65% from the same period last year, the ninth straight monthly increase in the region. Year to date, foreclosures are up 79% from the same period in 2009.

Here’s another house hunting tip from Dian Hymer in Inman News – For most sellers it’s a good idea to develop an open house strategy that will maximize exposure to your property without over-exposing it. It’s usually wise to have a Sunday open house the first weekend a listing is on the market. If it’s taking months for homes to sell in your area, consider subsequent open houses every 2-3 weeks.

New home sales are at an historic low dating back over 40 years. August 2010 sales were down 28.9% from August 2009. The Northeast, however, saw a year over year decline of only 5.4%.

Fannie Mae will pay buyer’s agents a $1,500 bonus when they bring clients who close on the purchase of one of the companies REO’s as their primary residence by December 31st. The owner-occupant buyers can also receive up to 3.5% of the final sales price that can be used toward closing costs.

Curbed, a network of neighborhood-focused blog sites featuring quirky, often celebrity-related real estate trends launched a new national site under the domain, curbed.com. One focus is “real estate porn” which is defined as “sexy shots of real estate. The sort of stuff that you see that makes your mouth water, makes your jaw drop.”