You’ll pay higher premium if you buy a house in a town that has only a volunteer fire service in place of a full-time fire service. Besides, the nearness of your home to a fire hydrant and a fire station affects your premium. If your home is closer to these facilities, you’ll pay more affordable rates.
Ten years ago the median price of a home in this area was $673,000. The average rate of appreciation nationwide was 5.6 % a year. If you apply that rate to a hypothetical home in Hollywood Hills, today, that same home should be worth about $1,100,000. Now that was the median price of a home in 2009, but prices have fallen since then and now the median price of a home in the Hollywood Hills is $977,000. This would still not be a bad return or rate of appreciation for someone who actually bought a home in 2001 and still lived in that home today, but somewhere in between, home prices shot up to about $1,340,000.
When selling a home, one is often confronted with the troubling prospect of why it has not sold. The reasons for this are but a few often rooted in one cause. Nowadays, homes sit on the market for long periods. A greater number than usual simply do not sell. In fact some may not even get an offer. Right now is one of the worst markets for selling a home ever. Too many homes are for sale, there are not enough buyers for them and the few that are out there struggle to secure financing let alone sell any existing home. Most homes today go unsold and if they do sell usually it is for much less than the original asking price. So what can improve a home sellers chances for success?
As a result of my experience, I have but one comment to make with regard to the sentiment that we are somehow stealing houses. IF THE SELLER COULD GET MORE MONEY OR A BETTER DEAL FROM SOMEONE ELSE, THEN THEY WOULD TAKE IT! Get over it! The reason the seller is willing to sell you their home really cheap is because no one else is willing to buy it or give them more for it.
Here are the three methods that I want to mention today. These are just the tip of the iceberg, but if you pursue just these sources you will get more and better deals than ever before.
That remains to be seen, but one thing is for certain and that is that the real estate market needs some help. As long as banks are being stingy with loans, then the real estate market has no way to recover. That’s because without home loans people can’t ESTATE HOME FOR SALE.
Yesterday, it was reported that the U.S. Treasury Department is looking at a plan that could help one million homeowners avoid foreclosure. The proposal is about modifying delinquent and defaulted home mortgages, including write-down of principal. The report said that no government money is required. But we all know where there’s government involvement, there is expense.
In review, a home can be a great long term investment. Home prices should be carefully decided on to insure the monthly payments can be made without causing an overwhelming monthly burden. Finally, a home buyer should have money saved for a down payment and keep in mind that closing costs can be relatively extremely high.