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At least, that’s what CNNMoney.com has to say in their recently published article. With the Federal Tax Credit for home buyers behind us the big question is: What happens to homes sales in the coming months. According to the article “Bipolar” is an apt desciption for the most recent predictions. “On one hand, sales and prices are rising, indicating recovery. On the other hand, so are interest rates and repossessions, which most certainly do not.” The good news is that while we do see some of the foreclosures/repossessions here in northeast Cincinnati, our marketplace is not overcrowded by the national trends in these areas (i.e., repo’s). The numbers show that our local area has been somewhat insulated from the national scene, but we have not been wholly immune. In other words, do we face challenges? Yes. Are there still great opportunities for home buyers and home sellers here in our metorpolitan area? Yes. |
Housing market diagnosis: Bipolar
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What is a Home Warranty?
A home warranty is a service contract, normally for one year, which helps protect home owners against the cost of unexpected covered repairs or replacement on their major systems and appliances that break down due to normal wear and tear. Coverage is for systems and appliances in good working order at the start of the contract.
What is a Short Sale?
If a home is being sold for below what the current seller owes on the property—and the seller does not have other funds to make up the difference at closing—the sale is considered a short sale. A short sale is different from a foreclosure, which is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure.
