Friday, July 29, 2011
Get some hard facts about "Hard-Money" mortgage lender below
A hard-money mortgage lender can be an individual or a small company that lends to people that banks would most likely not do business with. The costs and fees are higher than at a typical bank, rates can be more than 14 percent. But if you need to borrow to buy a home or an investment property, hard-money lenders maybe the way for you to go. According to a recent Wall Street Journal article, approximately 1 percent of the 5.5 million mortgages expected to originate this year will be from hard-money lenders. Listed below are the statistics for all properties sold in Mayfield, Mayfield Heights and Mayfield Village since the first of the year.
Friday, July 22, 2011
See open houses for this weekend and check out the statistics for new construction nationwide
According to the Wall Street Journal, U.S. home construction rose in June to 629,000 homes at a seasonally adjusted rate. This is up from 549,000 in May and the most since January. The pace of construction is still low compared to the peak of 1.5 million starts in 2007. As the housing market continues to recover and the glut of vacant and foreclosed homes is absorbed, hopefully new construction will continue to improve. There is new construction to be found in the Hillcrest area. The development at Hidden Woods in Mayfield Heights is ongoing and houses are being sold. Listed below is the breakdown of the 226 properties sold in Mayfield, Mayfield Heights, Mayfield Village, Highland Heights, Gates Mills and Lyndhurst since Jan. 1, 2011.
Friday, July 15, 2011
U.S. wants to tackle the housing slump
An article in the Wall Street Journal earlier this week reviews some of the ideas being discussed in Washington to try and revive the housing market. Policy ideas include having taxpayer-owned mortgage holders Fannie Mae and Freddie Mac relax their rules for loans to investors, allowing those buyers to purchase excess housing inventory. In certain markets, they could hold some foreclosed homes off the market and rent them out to ease the property glut. Washington is also looking to have banks sweeten incentives by reducing loan balances for those borrowers who are "underwater," or owe more than their homes are worth. These options could help lending and reduce the number of foreclosed houses on the market, but would put more risk on …
Friday, July 8, 2011
Home prices almost back to long-term trends
According to a Wall Street Journal article published earlier this week, home prices are almost back to their long-term trend. Adjusting for inflation, U.S. home prices were 40 percent lower in the first quarter of this year than at their peak five years earlier. That left prices just 7.5 percent above their average level from the mid-1940s through the 1990s – a period when home prices tended to gain at the same pace as overall inflation. Listed below are the statistics for all properties sold in Mayfield, Mayfield Heights and Mayfield Village since the first of the year.
Monday, July 4, 2011
Always be prepared with the equipment to put a fire out, according to Ohio Fire Marshal Larry Flowers
Some of the best things about celebrating the Fourth of July are the most dangerous. So, to stay safe this holiday, the Ohio Fire Marshal shared information on how to celebrate without getting hurt. The following information was provided by State Fire Marshal Larry Flowers: Campfire Safety Grilling Safety More Fourth of July safety tips: Fireworks Safety Tips from State Fire Marshal Larry Flowers.
Friday, June 24, 2011
Price indexes rose 0.8 percent in April
According to the Wall Street Journal, home prices edged up in April 2011. The Federal Housing Finance Agency's House Price Index – a measure of home prices based on mortgages owned or guaranteed by Freddie Mac or Fannie Mae – rose 0.8 percent in April from March. It was the first increase in almost a year, but the sector remains weak: Home prices are down 5.7 percent from a year ago and remain at 2004 levels. Listed below is a breakdown of the current 207 active listings for Mayfield, Mayfield Village and Mayfield Heights areas. Prices range from $34,000 to $499,900.
Friday, June 17, 2011
Presentations planned in South Euclid and Mayfield Heights
The Tri-City Consortium on Aging will present "So You Want to Stay in Your Home?" at 12:30 p.m. June 22 at the South Euclid Community Center, 1370 Victory Drive, and at 4 p.m. June 29 at the Ross DeJohn Community Center, 6306 Marsol Road, Mayfield Heights. The informal program is for those who are providing care as well as those who are in need. Registration is required – call 216-650-4029. The program addresses the fact that there is more to caregiving than home health. It involves helping with finances, transportation and day-to-day tasks such as shopping, scheduling appointments and arranging for meals.
Take a short drive around your neighborhood
Is the glass half-empty or half-full? If you are a seller who must sell or is in a precarious position the glass is near empty indeed. However if you are a buyer the rates have never been lower nor the market more friendly. Although banks have tightened up their lending standards there is still lots of leeway between lending institution. National banks, local chains and credit unions all have different standards. Talk with your realtor for suggestions and then go explore. Next week read about the changing rental market, and seller options. Here are some statistics from the Hillcrest area, including Lyndhurst, since the first of the year. Statistics are based on sales reported to M.L.S. DOM=days on market, CDOM=continuous days on …
Friday, June 10, 2011
Plenty of variety among homes for sale
If you are looking for a new home, there are open houses to get even the most jaded shopper excited. From finished multi-car garages to rec rooms there is something for everyone. Man caves are are the rage on TV shows, but there is no such search field in the MLS parameters. Explain to your real estate agent exactly what you want to find the perfect home, cave or no cave. Do you want to know what's hot? Then check out the 63 homes that have been sold in Mayfield, Mayfield Heights, Mayfield Village since Jan. 1 of this year. Statistics are based on sales reported to M.L.S. DOM=days on market, CDOM=continuous days on market.
Friday, June 3, 2011
Lots of open houses and lots of choices
With Memorial Day weekend past, it's time to go house hunting. Look for new ideas inside or out. Realtors welcome visitors, even if you are "just looking" to see what's going on in your neighborhood. If inspiration strikes and you want to spruce up your own home, take a look at home improvement store promotions. Home Depot is now offering a 24-month, low payment program or a discount for new customers. These are statistics for 343 homes in Hillcrest area (including Lyndhurst) that have been sold in the past 12 months. Figures are based on homes sold through Realtors and reported to Multiple Listing Service. DOM =Days on Market CDOM=Continuous Days on Market