April 2012

There are 7 blog entries for April 2012.

A new development is catching home buyers off guard as the spring sales season gets under way: Bidding wars are back.

From California to Florida, many buyers are increasingly competing for the same house. Unlike the bidding wars that typified the go-go years and largely reflected surging sales, today's are a result of supply shortages.

Debbie and Bill Wetherell received multiple offers for their home.

"It's a little surprising because we thought bidding wars were done with," said Andy Aley, who is looking to buy his first home in Seattle's Beacon Hill neighborhood. The 31-year-old attorney was outbid this year when he offered up to $23,000 above the $357,000 listing price and agreed to waive inspections and other closing conditions.

Competitive

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By Carla Hill

Housing affordability is still at a record high, according to the National Association of Realtors (NAR). It is at the highest level since record keeping began in 1970. This is based on the relationship between median home price, median family income and average mortgage interest rate.

 

NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami, said this latest data underscores buyer opportunities in today’s market. "This is the first time the housing affordability index has broken the two hundred mark, meaning the typical family has roughly double the income needed to purchase a median-priced home," he said. "For buyers who can qualify for a mortgage, now is a very good time to become a homeowner."

Projections

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Steve Brown-Dallas News

This year is shaping up to be the best for the local housing market since before the recession.

Home sales are up in all but a handful of Dallas-area residential districts. And in almost a dozen areas, home purchases are running more than a quarter higher than last year.

Home sales prices are also rising slowly in more than half the neighborhoods that The Dallas Morning News tracks each quarter.

“The broad-based increase in North Texas home sales suggests that buyers have become more confident about the economic environment,” said D’Ann Petersen, an economist with the Federal Reserve Bank of Dallas.

“Current conditions including a pickup in job growth, low interest rates and relatively affordable home prices are likely

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DEREK KRAVITZ and ALEX VEIGA

The Associated Press

Washington-Five years after the U.S. housing bust sent sales and prices plunging, the spring home-buying season is pointing to a long-awaited recovery.

Reduced prices, record-low mortgage rates, higher rents and an improving job market appear to be emboldening many would-be buyers. Open houses are drawing crowds. A wave of foreclosures is leading investors to grab bargain-priced homes.

And many people seem to have concluded that prices won’t drop much further. In some areas, prices have begun to tick up.

Interviews with more than two dozen potential buyers, sellers, brokers, agents and economists suggest that confidence is up and sales will move slowly but steadily higher.

“The biggest

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Museum Tower has unveiled 3 new model homes by local designers Emily Summers, Ann Schooler and Marco French. Each of the 3 homes has its own distinct style. Buyers can now get a sense for how these contemporary homes could look with a variety of interior furnishings.

Prices start around $1.4 million.

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The housing market experienced a surge in the first quarter.

Pre-owned home sales were up 16 percent in the first three months of 2012 from the same period last year. And median home resale prices were up a solid 5 percent.

The price bump was even higher in March, with median prices up 11 percent from a year ago, according to numbers released Monday from the Real Estate Center at Texas A&M University and North Texas Real Estate Information Systems Inc.

“The encouraging news is that March is the first real month of the selling season,” said Dr. James Gaines, an economist with the real estate center. “You can’t argue with the strength of these numbers.

“And you shouldn’t be surprised for the second quarter to see numbers as similarly good,” he

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    Community organizers are working hard on fixing the image of St. James Park in San Jose. A park that has become known as the downtown hub for homeless. The park dates back to the first founding of San Jose and has such features as a children's play area, water fountains, grassy open spaces and monuments to both President William McKinley and Sen. Robert Kennedy. 

 

      There have been many attempts to make the park as friendly for families and downtown visitors as Plaza de Cesar Chavez but with very little success to date. Maybe this Easter egg hunt will give families in and around the neighborhood a better image of the park and start changing its reality, too. 

 

Who: RSVP to Virgina Thomas - ginnyth@pacbell.com or 408.921.1257

What:

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