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2010 Trends In Housing of Northern Virginia



Northern Virginia Homes For Sale In Today’s Market

Northern Virginia Homes For Sale In Today’s Market

By: Robert Earl The Earl of Real Estate

Just because the credit market is suffering doesn’t mean you have to. You can still buy Northern Virginia luxury homes despite the decline in housing markets. Northern Virginia homes for sale are being sold at affordable prices in various counties.

While searching for an ideal Northern Virginia homes for sale you should look something which is just above your price range. Quoting a reasonable price which is slightly lower than what you had budgeted for the home will benefit you as well as the seller. There is nothing wrong in making an offer which you believe as fair. Later in you may find that your instincts were correct after all.

Typically the seller will appreciate the fast offer you made and chances are, the offer will be accepted at the suggested price. This strategy will benefit you because you will be able to stay with in your budget, and get a better house with more features then you had expected to get. As long as you have a clear picture of the things you want in your head, searching for Northern Virginia homes for sale is very simple.

There are hundreds of real estate agents throughout Northern Virginia that would be glad to help you find Northern Virginia homes for sale. There are many Northern Virginia luxury homes that are also for sale at bargain prices. Loan agents will be glad to help walk you through the purchasing process and get you pre-approved for a mortgage, at which point you can focus on finding the right home for you in Northern Virginia.

Virginia is a beautiful state with endless gifts to offer. Stunning mountain vistas and charming cities make this area truly feel like home. For this reason, more and more people are rushing to buy in Northern Virginia. However, because the market is continually fluctuating, the benefits are with the buyers. Now is the time to buy an affordable and spectacular house that you and your family will cherish.

Values of Northern Virginia houses may be temporarily falling, but will soon rise again. Wouldn’t you like to invest in an amazing house that is guaranteed to make you money down the road? A good way to determine how much your house is worth is to do a search online for housing prices in your area. This way, you will know exactly what price to offer for the home in which you are interested.


Louisville Real Estate Trends Compared to the Rest of the Country

Louisville Real Estate Trends Compared to the Rest of the Country
By Jim Powell

Beginning with home sales on a national basis, sales of existing homes are up 36 percent as of November 2009 (the most recent real estate figures available) from their lowest point in January 2009. Home sales in Louisville are up a more modest 17.4 percent over the same period. It’s important to note, however, that while Louisville’s real estate market had suffered setbacks consistent with many other areas of the country, these setbacks were mostly not as deep or severe. This puts Louisville’s realty market recovery in a much more favorable and accurate light.

Median sales price is another barometer of the local and national housing market that real estate professionals and economists use to determine real estate trends. Nationally, median selling prices of existing single-family homes are down 4.3 percent year-over-year from the previous November with an average selling price of $171,900. The median selling price of Louisville homes for sale is up 1.1 percent or $1,350 to $126,750. Again, Louisville’s gains are modest but with so many housing markets across the country reeling from the housing crisis, Louisville real estate is outperforming many other markets, at least for now.

Another important indicator of a market’s health is the number of foreclosures. Foreclosures negatively impact housing values and create a host of other problems and some neighborhoods across the country have whole streets with abandoned homes with only one or two occupied. Nationally, the news on foreclosures is grim with another wave of foreclosures expected in mid-2010 as another round of adjustable-rate mortgage rate increases is due. In the third quarter of 2009, foreclosure filings, which include bank repossessions, default notices and scheduled auctions, rose 5 percent from the second quarter to 937,840 properties repossessed. This increase in foreclosures was up a very discouraging 23 percent from the third quarter in 2008.

Louisville foreclosures are not as dire as the rest of the country, but still a serious problem for homeowners, lenders and others. In the latest report available, the Louisville real estate market suffered 1,496 foreclosures from September to November 2009. That is still a very high figure for the Louisville metropolitan area; however, compared to comparably sized cities across the country, Louisville is faring far better than most. Part of the reason for this is Louisville real estate values didn’t escalate as steeply over the previous years as many other markets around the country did, so when they fell, they didn’t fall as hard.

Overall, the market isn’t great, but very few markets across the country are at the moment. Louisville real estate prices have stabilized for now and are showing modest appreciation. Whether the Louisville realty market will continue to improve in the coming year is difficult to forecast for now, but some Louisville insiders are confident that it will.

Jim Powell is a Louisville real estate agent and the owner of Louisville Properties LLC, a experienced company offering a complete line up of realty services in and around Louisville, KY.

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Northern Virginia Real Estate

Technology Trends in Multifamily Housing

Technology Trends in Multifamily Housing

By Les Goss

Multifamily executives must constantly evaluate new technology hardware and software products at the same time they are integrating current tools, upgrading legacy systems and training staff to take advantage of underutilized components of programs they already have in place. As quickly as things are changing in this area, it can be a real challenge to keep up.

Social Media

It can be difficult to know exactly how social media like Facebook and Twitter contribute to the bottom line in apartment communities. Many apartment managers and owners feel obligated to maintain Facebook fan pages simply because all their competitors have one. But is it as critical as a clean pool, nice landscaping and a friendly, knowledgeable staff? According to a large survey of apartment residents conducted by J. Turner Research, only 8% had ever visited a community’s fan page.

On the other hand, many apartment managers are using social media to improve their rankings in the search engines at the same time they’re slashing their print advertising budgets. Plus, the only cost associated with a Facebook page is the staff time to create it, and occasionally update it. A small price to pay for an online presence that never goes away.

Mobile Phones

There are now more Americans with cell phones than either internet access or cable TV, and an estimated 70 million of us regularly use mobile web browsers. Google recently released Android, a software package for mobile devices, and on February 16, 2010 they announced that 60,000 cell phones with Android are shipping every day. Apple recently marked their 4 billionth app download, so as you can see, mobile devices are here to stay.

UDR, a Colorado-based REIT that owns 45,000 apartment units nationally, says that 9% of its web visitors in 2009 used phones for access, viewed over 400,000 pages and created 97 mobile leases. No doubt these numbers will continue to grow.

UDR was also the first to create an “augmented reality” app for multifamily. A potential renter can point their phone’s camera at an apartment and see pricing and availability data superimposed over the live picture. After launching in September 2009, UDR had over 125,000 downloads by the end of the year. Other firms have already created similar proprietary apps and more are sure to follow.

Web Portals

Another large and growing trend among apartment communities is the development of integrated websites that serve tenants and free up staff for other duties. Already, residents can pay rent online and submit work orders. Some properties even send out lease renewals with incentives for renewing early online. Freed from these mundane and time-consuming tasks, onsite personnel can spend more time showing apartments and performing other duties that increase resident satisfaction.

As you can see, technology is beginning to rapidly change the world of apartment management. I’m sure that apps for the iPad are already in development that will continue to accelerate this trend for the foreseeable future.

Les Goss is a real estate investor and syndicator in Colorado Springs, Colorado.

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Northern Virginia Real Estate

Current Housing Market Trends of Austin, Texas

Current Housing Market Trends of Austin, Texas

By Ramaswamy Sundaram

The housing markets of US are plagued by multiple problems – foreclosure crisis, delinquencies and defaulted mortgages, stagnation in sales of residential as well as commercial properties, piling up inventories of unsold homes, tightening up of qualifications for home loans, and home buyers sitting on the wall – skeptical about the way the housing market is heading. The fluctuation in the market, with regard to number of properties available for sale, including foreclosure distress sale, is considerable.

So it would be worthwhile to keep a watch on the current market trends and here are the statistics pertaining to Austin, Texas housing market, updated till last week.

While a lot of housing markets are struggling with declining prices of residential properties, Austin renders comparatively good news for home sellers, who are distressed by the real estate news of US. Austin has popular neighborhoods that are actually attractive to buyers by their location, amenities, conveniences and comforts nearby, such as – Steiner Ranch; Zilker; Downtown; South River City; Hyde Park and Bouldin.

According to reliable real estate sites, in respect of properties listed for sale from all the above neighborhoods, during the period taken for review namely February 10 to April 10 there is an upward trend in median sale prices. In this quarter, the median sale price of homes was $233,538 – which is an increase by $12,838 or 10.6 percent, compared to the earlier quarter.

Compared to last year, there is an increase of 9.9 percent overall. What is so encouraging is selling prices of homes have appreciated by 20.8 percent, taking into consideration the trend of last 5 years at Austin, irrespective of the foreclosure crisis, short sale hassles and other problems distressing home owners.

The listing price of homes for sale in MLS is another criterion to measure the market trends. On that count also, Austin homes show progress. Statistics collected on a weekly basis reveal that for the week ending May 5, 2010, the listing price of Austin homes was $440,135 – an increase of $8,370 or 1.9 percent compared to the previous week and compared to the week ending 14th April, this is an increase by $2,957 or 0.7 percent.

Ramaswamy Sundaram is Indian. Senior Citizen. Retired Personnel Manager. M.A. English Litt., Post Graduate Diploma in Personnel Management; Diploma in Commerce; Typewriting and Shorthand. He is certified expert author at this site. He is undertaking writing assignments from service buyers online, specializing in US Real Estate foreclosure. Having written more than 1500 write ups on various subjects, a majority of them about US Real Estate, he possesses the expertise to write on any subject with due research. You can contact him for your writing jobs through mail at and get quality deliverables at competitive cost.

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Northern Virginia Real Estate

Chicago Real Estate News – 2010 Market Trends

Chicago Real Estate News – 2010 Market Trends

By Brendan Kottenstette

In Chicago home prices are down, home sales are up but foreclosures continue to flood onto the market even as the inventory of unsold homes is clearing. What does this housing market trend and the Chicago real estate news mean for those looking to buy or sell their home this year?

In Chicago home sales were up more than 71.6 percent in November 2009 over the same period last year, says the Illinois Association of Realtors. Median Chicago home prices, however, have fallen 10.1 percent in the past year, according to the Standard & Poor’s/Case-Shiller home price index. This paints a very mixed picture of the health and recovery of the residential Chicago housing market.

The first thing to remember about the Chicago real estate market is that all of these figures are year-over-year, meaning they are compared to the same period of the previous year, which is when the recession hit hardest. The current housing market trend in Chicago show sales of existing homes were at record lows and sellers were holding out for prices comparable to the height of the housing bubble. In Chicago, specifically, many condo developments were still pouring into the market with new properties. Thousands of homes went into foreclosure or were listed as short sales at greatly reduced prices to avoid foreclosure. This all contributed to driving home prices down.

However, the double digit rise in Chicago area home sales in November marked the fifth consecutive month of rising home sales. This end of the year push was in part due to the original November deadline for the Federal Housing Tax Credit. As a result, rising sales have cleared out most of the inventory of distressed properties, which was the driving force behind falling home prices.

“Until those foreclosed properties work their way through the system we won’t have a price recovery that will match the sales recovery. Most people are seeing the foreclosure peak occurring in 2010,” states economist Geoff Hewings, director of the University of Illinois Regional Economics Applications Laboratory (REAL). This, combined with the annual rise in home sales in the spring, should pave the way for a rise in Chicago house prices in the first half of 2010.

Other influences on housing market trends are the continued low interest rates and the extension of the Federal Housing Tax Credit until April 30, 2010. The tax credit has expanded to include current homeowners and those with a higher income than in the original First-time Homebuyer Tax Credit. Many expect interest rates to rise as soon as signs of recovery are evident in the housing markets, but probably not until the second half of 2010.

The real Chicago real estate news is that, if these indicators are correct, both home prices and sales volume will rise in the early part of this year. However, most analysts agree and the national housing market trend indicates that improvements in the residential Chicago housing market will taper off over the summer and probably fall again in the third and fourth quarters of 2010.

Bottom line: Sellers can expect the best Chicago house prices and most buyer interest in their homes in the first half of 2010, before April 30. Though it is still a buyer’s market, if you plan to sell anytime in 2010, the spring is the best opportunity. For home buyers, based on Chicago housing market trends, expect to see a wealth of new properties enter the market earlier than usual this spring. This will increase the selection on the market as well as the competition.

Brendan Kottenstette is a real estate broker with DMD Chicago Realty

DMD specializes in discount broker services and doctor loans for medical residents and new doctors.

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Northern Virginia Real Estate