Have you noticed that fewer and fewer homes are on the market in Ventura? Then, most likely you noticed that it is happening all around the country too! Here’s a snap shot of the June 2012 inventory based on listings in realtor.com. (Realtor.com is a database of all MLS (multiple listing services) real estate databases around the country.)
Tag Archives: housing
Where Homes Are Selling the Fastest
According to Realtor.com data, the average number of days homes are spending on the market has dropped by nearly 10% nationwide in the last year. The average U.S. home now spends 84 days on the market.
But in some housing markets, homes are selling even faster, spending an average of 45 days or less on the market before they sell. What’s more, many of these housing markets are having not only some of the speediest home sales but also some of the largest increases in median home prices compared to a year ago.
Determining Your Home’s Value
Appraisals and CMAs
Appraisals are primarily used to protect the lender’s interest in the property. Just like lenders can be hesitant to issue a mortgage to credit-risky borrowers, they don’t like to underwrite properties for more than they’re worth. Appraisals also are used when other factors have made it difficult to assess your property’s value, such as a lack of real estate activity in your area.
Does your housing take up half your income?
A new study by the Center for Housing Policy, entitled Housing Landscape 2012, found that the share of working households paying more than half their income for housing rose significantly between 2008 and 2010 for both renters and owners. This annual report explored the last Census data on housing costs and income, including housing cost burden data from the 50 largest US metropolitan areas, all 50 states, and the District of Columbia. The report found that nearly one in four working households in the US spends more than half of total income on housing.