Selective First-Time Buyers Can Miss Deals - In a recent poll, 87% of respondents felt that finding a "move-in ready" home was important. Some agents say first-timers are being more selective; and some are turning away from well-priced homes because they do not have granite countertops or they need a new carpet. Agents believe TV shows have made buyers more knowledgeable about home design, but some worry that such programming also has given buyers unrealistic expectations. Read article:http://www.realtor.org/RMODaily.nsf/pages/News2011030804
New Rules for First-Time Home Buyers - Without a house to sell , first-time home buyers have had a field day in the depressed housing market. Until recently, anyway. A series of new rules, regulations and policies have changed the landscape, making buying that new home harder and more expensive. This month, fees on most new mortgages will rise by up to 0.50%. In April, fees on small-down-payment mortgages, a first-time buyer favorite, will spike. Meanwhile, more lenders are requiring larger down payments, and new proposals from the Obama administration call for mortgages to become more expensive and limited in size. Read article:http://www.smartmoney.com/personal-finance/real-estate/new-rules-for-firsttime-home-buyers-1299539050817/
Who's buying homes? The rich - The rich are buying real estate. After four straight years of declines, sales of million-dollar homes and condos rose last year in all 20 major metro areas, according to DataQuick. On average, these cities saw an 18.6% jump in high-end home sales. "It hasn't been a good six months for all people, but it was a good six months for rich people," said Glenn Kelman, CEO of Seattle-based real estate brokerage Redfin. "When Wall Street goes up, rich people buy homes." Read article:http://money.cnn.com/2011/03/07/real_estate/million_dollar_homes/index.htm
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