Posted by admin on July 31, 2010 under Real Estate News | 
According to the New York Times, many of the mortgages that are being defaulted on are by the wealthy. It seems as though the rich look upon it as more of an impersonal business decision than the average homeowner. One in seven homeowners in trouble has a mortgage in excess of one million dollars, and it appears that they are much quicker to walk away from the property as simply a bad investment.
You do not have to look too hard to find the silver lining in this scenario. Affordability of many luxury homes is incredibly high right now. That, together with the historically low interest rates that are available right now makes investing in a luxury property very tempting. This is excellent news if you make your living with a real estate license.
Commissions have suffered for many real estate agents and brokers as prices plummeted during the real estate crisis. Increased affordability of higher end homes has created an ideal situation to increase business in the luxury home market. The higher the sale price, the better the commission for the sale, and better commissions are a welcome change from the last couple of years in the real estate market.
Prices across the country are beginning to stabilize. For a time it seemed as though the housing crisis might go on forever, but it is important to remember that the affordability we are seeing in the housing market will not last. The nations real estate market is growing stronger every day and before you know it, the incredible prices and interest rates we are seeing right now will be gone. The time to cash in on the real estate market affordability is right now and buyers that are in a position to qualify for financing know it. Individuals earning a living with a real estate license know it too.
Business is on the rise, so the need for licensees with real estate training will rise as well. People looking for a career change can, in most cases, complete the real estate courses required to take the real estate licensing exam in a matter of weeks. Online real estate schools make the classes a quick and convenient alternative to traditional college courses, and at a fraction of the cost.
The housing market still has a ways to go before we reach solid ground, but make no mistake it is on its way up. What better time than now to get in on the action and ride the wave to prosperity. Jobs in real estate are expected to increase in the years to come, something that is not being said of many industries in today’s economy. It is an ideal time to look into starting a brand new career with your real estate license.
Posted by admin on September 18, 2010 under Real Estate News |
Buying your first home is a very big deal. In order to navigate through the sometimes confusing and often overwhelming waters of the real estate market, here are just a few tips for the first time home buyer.
Prequalify yourself
One of the most important things for the first time home buyer to consider in the wake of the housing crisis is affordability. Many of the homeowners who found themselves in foreclosure ended up there because they could not afford the mortgage payments they agreed to. Some had adjustable rate mortgages to keep initial payments down, but could not afford the payments when the rates reset; others simply overextended themselves from the start and could not maintain the payment over time. In either case the situation could have been avoided had the buyer properly determined what they could comfortably afford and stayed within that budget. Remember that the loan officers and real estate agents paid to assist you will make more money if you spend more. Determine for yourself what you can afford to pay each month for principle, interest, taxes and insurance and do not exceed that amount.
Know what loans you qualify for
When you have calculated what you can afford to pay each month, you can use that amount to determine the maximum loan amount you can afford, but first you need to know what type of financing you will qualify for. Conforming loan guidelines are available from any number of online sources. Factors like interest rates and tax rates have a direct effect on what portion of the amount that you have budgeted for a monthly housing payment can be used to calculate how much you can borrow. The better your credit, the better the loan terms you will qualify for, so know what your credit rating is and do what you can to correct any delinquencies for the best interest rates. The lower your interest rate, the more home you can afford.
Research available first time buyer programs
Many individual states offer incentives for the first time home buyer that can assist with down payments and closing costs. Information regarding the qualifications for these programs are available to anyone online by accessing your state’s website. Knowing about the programs available from your state can offer welcome assistance for the costs that can sometimes make purchasing your first home difficult.
Educate yourself
Something else that can save the first time home buyer thousands can be found on your state’s department of licensing website. The required real estate training to earn a real estate license can usually be completed in just a few weeks and in many cases for less than $500.00. Taking a couple of weeks to learn about the business of real estate will not only give the first time home buyer essential skills that they can use to make the best deal, but if you get your real estate license you can earn a commission when you buy your first home.
Posted by admin on October 9, 2010 under Real Estate Careers, Real Estate News |
The Texas real estate market has been showing some solid and steady improvement. The Texas quarterly housing report shows increasing sales across the state. Even seven of the cities that were at the bottom of the sales performers when compared to last year show significant sales increases when compared to the previous quarter. Even before the third quarter report is released, several areas are continuing to show remarkable sales. This is great news if you make a living with a Texas real estate license.
In Corpus Christi sales are up 52% over the first quarter of 2010 and 10.28% over the same period in 2009. Median prices are up over 6% from the first quarter and 4% over the previous year. Reports are showing that sales for the third quarter of 2010 are up 36% from the previous year.
Galveston, Texas closed the second quarter of 2010 with sales up 18% over the prior year and 66% over the first quarter according to the Texas quarterly housing report. Statistics for the third quarter of 2010 are showing a 700% increase in sales from the same period over.
At the end of the second quarter of 2010 El Paso, Texas sales are up more than 40% from the second quarter 2009 and 66% from the first quarter 2010. The third quarter 2010 numbers are showing prices on the rise with median home prices up 18% over the previous year.
Areas like Denton County showed the second quarter up more than 75% over the first quarter and 18.45% over last year. The third quarter report is not out yet, but cities within Denton County like Frisco are showing third quarter increases of almost 17% in sales and more than 60% in median price when compared to the prior year.
The statistics are the same in cities all across the state. It is a great time to have a Texas real estate license or to consider getting one. The housing market recovery is just beginning and there is plenty of time to start a new career with your Texas real estate license. The 210 hours of real estate courses that are required to earn a Texas real estate license can be completed entirely online in just a couple of months.
Posted by admin on May 29, 2010 under Real Estate News |
According to a recent survey by the National Association of Realtors (NAR), a quarter of those individuals making their living with a real estate license believe that the market is improving. Although the number of agents and brokers with a real estate license decreased by just over seven percent last year, those who are still working in the real estate industry believe that the market is not only showing improvement, but will continue to get better over the next couple of years.
Largely in part to the improvement in the real estate market the majority of agents and brokers currently working in real estate say they will continue to do so in the coming years. The NAR also suggests that diversity in real estate helps sustain your career in real estate during this time of financial crisis. While 80% of real estate agents and brokers specialize in residential real estate, 97% of those who earn a living with a real estate license have other areas of focus.
With unemployment still a big issue across the country, there are more promising statistics in real estate careers. The Bureau of Labor Statistics believes that job opportunities for those with their real estate license will increase 14% over the course of the next eight years. In most states you can complete the real estate courses that are required to take the real estate license exam in just a few weeks. Real estate schools offer online real estate training at a fraction of the cost of traditional college classes. The ease of the process to earning a real estate license along with the encouraging information from the Bureau of Labor Statistics is making real estate a great opportunity for anyone looking for a new career path.
Even as the federal tax credit expires the incentives to get into the real estate market continue. Affordability is at an all time high while interest rates are at historic lows. There has never been a better time for buyers to find the home they have always dreamed of or for investors to find the most unbelievable real estate deals that anyone has seen in decades. Seller incentives and state rebate programs also continue to be available.
The real estate market is showing no sign of slowing as it makes its steady climb to recovery. An increasing level of market confidence by both real estate agents and consumers is further indication of the strengthening housing market. Whether you are looking for a career filled with opportunity for prosperity or you currently have a real estate license, 2010 is looking like it is going to be a great year in real estate.
