Best of the Week
Most Popular
1. US Housing Market House Prices Bull Market Trend Current State - Nadeem_Walayat
2.Gold and Silver End of Week Technical, CoT and Fundamental Status - Gary_Tanashian
3.Stock Market Dow Trend Forecast - April Update - Nadeem_Walayat
4.When Will the Stock Market’s Rally Stop? - Troy_Bombardia
5.Russia and China Intend to Drain the West of Its Gold - MoneyMetals
6.BAIDU (BIDU) - Top 10 Artificial Intelligence Stocks Investing To Profit from AI Mega-trend - Nadeem_Walayat
7.Stop Feeding the Chinese Empire - ‘Belt and Road’ Trojan Horse - Richard_Mills
8.Stock Market US China Trade War Panic! Trend Forecast May 2019 Update - Nadeem_Walayat
9.US China Trade Impasse Threatens US Lithium, Rare Earth Imports - Richard_Mills
10.How to Invest in AI Stocks to Profit from the Machine Intelligence Mega-trend - Nadeem_Walayat
Last 7 days
Global Economic Tensions Translate Into Oil Price Volatility - 22nd May 19
The Coming Pension Crisis Is So Big That It’s a Problem for Everyone - 22nd May 19
Crude Oil, Hot Stocks, and Currencies – Markets III - 22nd May 19
The No.1 Energy Stock for 2019 - 22nd May 19
Brexit Party and Lib-Dems Pull Further Away from Labour and Tories in Latest Opinion Polls - 22nd May 19
The Deep State vs Donald Trump - US vs Them Part 2 - 21st May 19
Deep State & Financial Powers Worry about Alternative Currencies - 21st May 19
Gold’s Exciting Boredom - 21st May 19
Trade War Fears Again, Will Stocks Resume the Downtrend? - 21st May 19
Buffett Mistake Costs Him $4.3 Billion This Year—Here’s What Every Investor Can Learn from It - 21st May 19
Dow Stock Market Trend Forecast 2019 May Update - Video - 20th May 19
A Brief History of Financial Entropy - 20th May 19
Gold, MMT, Fiat Money Inflation In France - 20th May 19
WAR - Us versus Them Narrative - 20th May 19
US - Iran War Safe-haven Reasons to Own Gold - 20th May 19
How long does Google have to reference a website? - 20th May 19
Tory Leadership Contest - Will Michael Gove Stab Boris Johnson in the Back Again? - 19th May 19
Stock Market Counter-trend Rally - 19th May 19
Will Stock Market “Sell in May, Go Away” Lead to a Correction… or a Crash? - 19th May 19
US vs. Global Stocks Sector Rotation – What Next? Part 1 - 19th May 19
BrExit Party EarthQuake Could Win it 150 MP's at Next UK General Election! - 18th May 19
Dow Stock Market Trend Forecast 2019 May Update - 18th May 19
US Economy to Die a Traditional Death… Inflation Is Going to Move Higher - 18th May 19
Trump’s Trade War Is Good for These 3 Dividend Stocks - 18th May 19
GDX Gold Mining Stocks Fundamentals Update - 17th May 19
Stock Markets Rally Hard – Is The Volatility Move Over? - 17th May 19
The Use of Technical Analysis for Forex Traders - 17th May 19
Brexit Party Set to Storm EU Parliament Elections - Seats Forecast - 17th May 19
Is the Trade War a Catalyst for Gold? - 17th May 19
This Is a Recession Indicator No One Is Talking About—and It’s Flashing Red - 17th May 19
War! Good or Bad for Stocks? - 17th May 19
How Many Seats Will Brexit Party Win - EU Parliament Elections Forecast 2019 - 16th May 19
It’s Not Technology but the Fed That Is Taking Away Jobs - 16th May 19
Learn to Protect your Forex Trading Capital - 16th May 19
Gold Ratio Charts Offer The Keys to the Bull Market - 16th May 19
Is Someone Secretly Smashing the Stock Market at Night? - 16th May 19

Market Oracle FREE Newsletter

U.S. House Prices Analysis and Trend Forecast 2019 to 2021

What Every Home Buyers Need to Know About the U.S. Housing Market

Housing-Market / US Housing May 10, 2013 - 01:33 PM GMT

By: Money_Morning

Housing-Market

The U.S. housing market's recovery is gaining momentum, but there are still a number of issues for homebuyers to be cautious of.

To get to the bottom of what's really going on in the housing market, we talked to Gerri Willis, author of "Home Rich" and host of FOX Business Network's The Willis Report (6 p.m. weekdays), about the key things homebuyers need to know in today's challenging market.


With the housing market gaining momentum, a housing market expert and author offers tip on what every homebuyer needs to know.

Here's what Gerri had to say about the true state of the housing market today:

"Bidding wars are happening in various areas around the country. There is stiff competition out there, but avoid a bidding war at all costs. It mostly results in bad news since your negotiating leverage loses weight. Bidders tend to wind up paying too much and eventually wishing they had made a different choice."

"Be informed about YOUR market. Simply put, there's not just one real estate market. Every state, city and county can have different dynamics depending on local factors, so don't read headlines in a national publication and assume that applies to your community. If you want to know the future of your own market, here's how to read the local tea leaves. Check out your local employment picture. Are companies still in layoff mode? If people are still losing jobs, it will be difficult for your housing market to recover. That's because people without jobs don't typically buy new homes."

"Anticipate a challenge when it comes to getting a loan, but that doesn't mean give up. Getting a loan these days is a financial strip search. Be prepared to answer a lot of questions and to document your answers. Banks have been stingy with loans recently but this doesn't mean you should give up all hope. Go into the process with a determined attitude and be prepared to shop around. If you don't like the deal offered by national banks, shop the community lenders. They sometimes have more flexibility to tailor a loan to your needs."

"Foreclosure activity is ramping up in some places, but be cautious. If you're considering buying a foreclosed home, you need to do your homework here and check out the property first-hand. Homeowners who are forced to leave may bring items with them; for example, I've seen copper wiring stripped from walls and even toilets pulled out of bathrooms. Keep an eye out for vandalism, too, which is harder to spot. It is not uncommon to see concrete poured into toilets. You're setting yourself up for trouble if you pass on an inspection with a foreclosure property. While we're talking foreclosures, a tip to help preserve your home value is to get involved in your community. You can do your part by organizing a neighborhood watch or volunteering to mow the unruly grass of a foreclosed home."

"A bubble is ahead, though the government might not be warning of one. Take a look at some of the hardest-hit markets during the recession. Prices in Las Vegas, for example, were up 31 percent year over year in April as inventory contracted. It's the same way in many other markets: less inventory, higher prices. The reason the government isn't warning of a housing bubble is because when it comes to inflation, the housing numbers they survey are apartment rents, or"Owner's Equivalent Rent." These are not for home prices and, moreover, the government gets to this number based on homeowners' estimates."

To learn more, tune in to FOX Business Network for a daylong special on Friday, May 10, about the U.S. housing market and its prospects for 2013.

Source :http://moneymorning.com/2013/05/09/u-s-housing-market-5-things-every-homebuyer-needs-to-know-right-now/

Money Morning/The Money Map Report

©2013 Monument Street Publishing. All Rights Reserved. Protected by copyright laws of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), of content from this website, in whole or in part, is strictly prohibited without the express written permission of Monument Street Publishing. 105 West Monument Street, Baltimore MD 21201, Email: customerservice@moneymorning.com

Disclaimer: Nothing published by Money Morning should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investent advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication, or after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended by Money Morning should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company.

Money Morning Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules