Helping make real estate dreams come true Explore Lake Property I don't want to give my home away is an oft repeated phrase as I discuss with prospective home sellers the current estimated market potential of their home. They sometimes follow that phrase up with-" well, we will just hold on to it then" or "we will rent it out". Sometimes sellers can lose track of why they wanted to sell in the first place. Waiting for a year isn't necessarily going to solve their problem. I always like to ask them what will change in a year? Do you think that tenants will leave the property in the condition it is presently? What will the cost of repairs be after a year of renting? Will you be subsidizing the rent, as it may not cover your current mortgage payment and other home expenses such as the taxes, insurance and maintenance. Will you be hiring a management company and are you available at all times to handle repairs and renter issues? What will prices an
‘Bidding Wars’ Not Boosting Home Prices, Latest HousingPulse Results Indicate Despite media reports of the emergence of so-called “bidding wars" in select housing markets, average home prices remained flat in the month of April, according to the latest results of the monthly Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. While reports of some home listings attracting dozens of offers have become common this year, the closely watched nationwide HousingPulse survey found that most homes sold in April received only two or three offers and sold below list price. Demand from investors remained strong during the month of April. Investors accounted for 25.1% of home purchases, while current homeowners accounted for 40.1% of purchases and first-time homebuyers accounted for 34.8% of purchases. Average prices for home purchases declined slightly from March to April, according to transactions reported by HousingPulse survey respondents. The average price for non-distressed p