Category Archives: Selling a Home

The Appraisal Foundation’s Appraisal Practices Board is seeking public comment on a proposal about how to adjust comparable sales for seller concessions when making valuations. “A common tool used to help facilitate a property transaction is to have the seller provide financial assistance or incentives to the buyer,” the board’s proposal states. “Such assistance may be considered a seller concession or financing concession and this is important because it may have an influence on the contract price. The purpose of this guidance is how to identify, verify, analyze and adjust […]

Data point to a moderation in home sales after recent hefty gains Pending sales of existing U.S. homes fell more than expected in December, industry data showed on Wednesday, pointing to a moderation in home sales after recent hefty gains. Homeowners have recently started adding to their home’s value through home renovations, this can be an option for you if you’re having a tough time selling your home. For instance, hiring a deck contractor to build a deck construction may help boost the value of your home and attract more potential […]

New single-family home sales fell 2.2% to an annual rate of 307,000 in December from 314,000 a month earlier, according to the Commerce Department. The seasonally adjusted rate, dropped 7.3% from 331,000 a year earlier. The preliminary estimate for actual new homes sold in 2011 came in at 302,000, 6.2% below 323,000 sold in 2010. Annual sales marked a new low since at least 1963, the start of Commerce Department records. For some perspective, builders sold 1.28 million new homes in 2005. Analysts surveyed by Econoday expected new homes sales […]

Home and condo sales for metropolitan Detroit inched up 2.2% in 2011 as the second half made up for a slow first six months, according to local multiple listing service Realcomp. Sales last year rose by about 1,000 to a total of 51,531 homes and condos over 2010 figures. The city of Detroit, however, saw home sales decline 8.4% to 6,457 in 2011. The average median sales price for metro Detroit also dipped, nearly $1,000 to $66,896, from the year prior as prices ticked up 0.6% to $9,568 in the […]

The number of homes that resold in the greater Phoenix area rose for the 12th consecutive month in November, DataQuicksaid Friday. When reviewing property sales in the combined Maricopa-Pinal counties, the data firm said 7,766 new and resale homes and condos closed in escrow. That is down 3.5% from October, but up 9% from last year, DataQuick said. Maricopa houses the city of Phoenix, and is the fourth-most populous county in the country with more than 3 million residents. Sales of home priced between $100,000 and $200,000 rose the most […]

2202 Sawmill Creek Rd, Sitka, Alaska For sale: $1,945,000 By Erika Riggs, Zillow The city of Sitka sits on Alaska’s Baronof Island and is flanked on the east by mountains and on the west by the Pacific Ocean. It is surrounded by hundreds of small islands, some of which hold private homes. However, there’s only one Sitka home for sale that boasts both waterfront and island property. The special parcel is populated by some very handsome structures, including a main house set back from the Sitka road system and completely hidden by […]

Pending home sales continued to gain in November and reached the highest level in 19 months, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 7.3 percent to 100.1 in November from an upwardly revised 93.3 in October and is 5.9 percent above November 2010 when it stood at 94.5. The October upward revision resulted in a 10.4 percent monthly gain. The last time the index was higher was in April 2010 when it reached 111.5 as buyers rushed […]

November home sales in Illinois rose 14.2% from a year earlier — a sign that a recovery in the housing market is under way, the Illinois Association of Realtors said Wednesday. Still, home prices took a big hit, according to the report. According to IAR, Illinois home sales in November grew to 7,954 from 6,966 in November 2010 as buyers favored lower-priced properties. The median price in November was $128,500, down 11.4% from $145,000 a year earlier. November’s home sales are down 7% from October’s total of 8,563, in what […]

Insurance Consumer Advocate Robin Wescott backed insurers’ calls for changing personal injury protection insurance laws to fight fraud and abuse in a report she released last week. But she said if the laws are approved, insurers must be required to pass savings to policyholders. “It is imperative that insurance companies be held accountable for passing savings on to consumers through a required rate filing within 12 months of enacted reforms, and every six months thereafter,” she wrote. The requirement is not included in PIP legislation proposed so far, HB 119, […]

Existing single-family home sales in Texas rose 9% from a year ago in November, the Real Estate Center at Texas A&M University said in a report Monday. The real estate research center found that 15,000 homes sold statewide, with the median home price hitting $147,600. That is up 1% from November 2010 levels. The state’s inventory level currently sits at a 6.6-month supply. Home sales in Dallas and Houston rose 16% and 11%, respectively, from last November, suggesting more robust activity in those metropolitan areas. The median home price in […]