Mar 25, 08 by Bill Ness
The National Association of Realtors (NAR) reported a 2.9 percent increase in the number of homes sold in February over January's total. The total brings the seasonally adjusted pace of sales to 5.03 million, up from January's rate of 4.89 million. The news marks the first month-over-month rise since July 2007. "These are signs that housing's problems are being addressed, but I wouldn't break out the champagne yet," said Northern Trust chief economist Paul Kasriel. "We still have a ways to go."
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Jan 29, 08 by Bill Ness
"Prices shot up like rockets and are coming down like feathers." According to Orlando-based economist Hank Fishkind. "It takes a while for prices to fall as far as they should because sellers are often unwilling to lower their price to market levels." This phenomenon seems to be dragging out the slump in the housing market longer than most expected. As a result, many homeowners have found themselves unable to make payments on a home that is worth less than what they originally paid for it. For many, the only likely outcome is foreclosure. Recently, however, some homeowners have been given the option of selling their home short and avoiding foreclosure.
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Jan 3, 08 by Bill Ness
As the number of baby boomers aged 55+ continues to grow, so does their desire to move to an active retirement community. However, due to the challenging housing market that we have faced over the last couple years, many of those age-qualified to live in an active retirement community are unable to do so because they cannot sell their current home.
I have worked with hundreds of people over the last couple of years looking for a home in an active adult community and many tell me the same thing, "We want to live in this type of community, but due to the slow housing market, we won't buy until our home sells."
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