July 2013

Found 33 blog entries for July 2013.

According to the National Association of Home Builders First American Improving Markets Index (IMI), 263 housing markets are showing improvement with a recent gain of 5 markets.

is your city recovering

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As of last month, the following cities were added to this growing group:

  • Tallahassee, FL
  • Salinas, CA
  • Sioux, CA
  • Chicago, IL
  • Topeka, KS
  • Baton Rouge, LA
  • Laredo, TX
  • Philadelphia, PA

As further proof that the housing market is on the upswing, the IMI has reported that more than 70% of metro areas are improving due to desirable interest rates and home prices that are more affordable than most people realize. There are some factors that are getting in the way of a faster recovery. Home appraisers are having a tough

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Yesterday we reported that Case-Shiller released its annual report on home prices. Today we would like to take a closer look at the numbers and what they mean in Detroit. And, from what we are seeing, home prices soared in May further proving that the real estate market is back!

case shiller report on detroit

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Since the market crash, no city has surpassed pre-crash levels, until now. Dallas and Denver both made real estate history by being the first two cities to gain at a rate better than before the housing crisis. Five other cities (San Francisco, San Diego, Chicago, Atlanta and Seattle) all had monthly gains over 3%.

The report also shows that the West and Southwest of the country and improving the fastest while New York,

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The July Case-Shiller Report for Detroit has been released with data reaching back to May. The report is documentation of real term price reports for housing across the United States. The data is compiled by looking at home prices for single family homes that have been repeat sales, and shows trends in housing prices whether they are increasing or decreasing.

July Case-Shiller Report Detroit

  • Home prices in Detroit are showing a 2% increase month over month
  • Home prices in Detroit are showing a 19% increase year over year
  • Detroit is also showing double digit annual appreciation rates
  • It is expected that over the next 6 months, Detroit's home prices will level off due to rising interest rates and home values
  • 19% is a very rapid growth rate that
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As of July 1, 2013, some major changes have taken effect in the Housing and Urban Development Department (HUD). Here is a rundown of what has been changed and how it will affect you.

changes to hud in july

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Changes to HUD in July

  • Certain costs will be incurred by the buyer. This includes the title company closing fee.
  • Buyers can select their own closing company for their HUD deal with some restrictions.
  • Earnest Money Deposits will no longer be made out to HUD. Instead, they will be made out to the local listing broker.

These changes have come about as many government agencies as well as local businesses are cutting back and becoming more financially aware. Having buyers take more responsibility will aid HUD in these

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Home prices are on the rise as the market continues to recover, and the value of these homes is projected to rise as well. In addition, as values increase, new buyers are in a great position to build long-term equity from their purchases.


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The market is also becoming extremely competitive as inventory remains relatively low compared to the higher number of buyers entering the real estate hunt. The average a home is staying on the market has been estimated at 70 days with many selling much sooner.

Because of this inventory shortage, new construction is popping up in many places around the country. New buyers may be able to find a new home at a steal.

And, if these reasons to buy now aren't enough, think about the

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There is a new generation of home buyers out there, and they are looking for specific things in their search for a house. The innagural 2013 National Association of Realtors Home Buyer and Seller Generational Trends survey has found even more information on this group of up and coming purchasers.

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  • The survey found that 85% of buyers under tha age of 32 feel that their home is a good investment. 
  • The largest group of buyers (31%) was born between 1965 and 1979, and the next largest group (28%) was born between 1980 and 2000. 
  • According to our source, "The median age of Millennial home buyers was 28, their median income was $66,200 and they typically bought a 1,700-square-foot home costing $165,000." 
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Search More: House in Clawson Close to Downtown

Update: This home has been sold. Please use the search above to find similar properties.

Property Details

3 Beds * 2 Baths * 988 sq. ft. * 1954

Description

This beautiful and quaint house in Clawson, MI is close to downtown Clawson. It features three bedrooms, two bathrooms, and a finished basement. It also has a large garage for storage or parking (2005), a patio in the back for Summer entertaining and ample, fenced-in yardage in the back. If that isn't enough, this home has geometric doorways, landscape windows, and comes with a washer and dryer. The kitchen features granite countertops, new wood cabinets and new appliances. For the family who needs more space, there is also a shower in the

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We've written about this time and time again here: the housing market is recovering from the crash in years past and that means two things:

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1. Buyers are looking to get back into the market, and they are snatching up homes quickly.
2. There are relatively few homes for sale in comparison to the number of buyers looking to purchase.

So, if you are a buyer, you are probably wondering how long it will be until the supply catches up to the demand. There are a few factors to consider when trying to make a prediction.

First, it is a safe assumption that as home prices are rising, more sellers will be interested in putting their homes on the market. This will of course increase inventory, but these people

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When you're in the middle of the mortgage process, it's a good idea to wait on large home improvement and decor purchases. Spending big money while underwriters are working on your loan can affect how much money you are approved for.

But, when all is said and done, new homeowners are often itching to start making their home their own - and rightfully so! Owning a home is a big deal, and you should get excited about adding your personal touch.

So, if you're looking to furnish your new purchase, take a look at some places you might not know about. Try something new. Variety is the spice of life!

furnishing your new home

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Ebanista.com: Luxuryn, sophistication and elegance are three words to describe this showroom operation. The owners describe their

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Ever wonder where your hometown ranks in terms of cost of living? Well, the Council for Community and Economic Research (source) recently put out a study reporting just that. Here are the results based on the cost of living in 307 urban areas around the United States:

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Most Expensive Cities in US

10. Los Angeles, CA
9. San Diego, CA
8. Oakland, CA
7. Boston, MA
6. Washington, DC
5. Stamford, CT
4. San Jose, CA
3. San Francisco, CA 
2. Honolulu, HI
1. New York, NY

Cheapest Cities in US

10.  Idaho Falls, ID
9. Conway, AR
8.  Springfield, IL
7. Pueblo, CO
6. Wichita Falls, TX
5. Fayetteville, AR
4. Memphis, TN
3. Norman, OK
2. McAllen, TX
1. Harlingen, TX 

Looking at these cities, it is clear that living on a coast

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