Sellers Who Delay May Miss Out | Realtor Magazine.
Some would-be move-up home sellers are eyeing home prices carefully. They’re waiting to see how much home prices appreciate more before they consider selling their home. But they may be missing their perfect opportunity, some housing experts say.
The best time to move may depend on when the home owner purchased their current residence, says Daren Blomquist, vice president of RealtyTrac. Blomquist says that home owners who purchased their home during the sluggish market the last two to three years may find moving up in 2013 may be their prime opportunity.
States Battling the Highest Foreclosure Rates.
Foreclosures are falling nationwide, but some states are still facing high foreclosure rates.
For the fifth-straight month in a row, Florida has the highest foreclosure rate in the nation, according to RealtyTrac’s latest January report. Florida had more than twice the national average of foreclosure filings, which are up 20 percent year-over-year in that state.
The following 10 states with the highest foreclosure rates in January:
- Florida: 1 in every 300 housing units had a foreclosure filing
- Nevada: 1 in every 344
- Illinois: 1 in every 375
- Arizona: 1 in every 501
- Georgia: 1 in every 513
- Ohio: 1 in every 612
- Washington: 1 in every 674
- California: 1 in every 753
- Indiana: 1 in every 784
- Michigan: 1 in every 837
‘Zombie Titles’ Plague Home Owners.
Some refer to “zombie titles” as a little-known horror in the fallout of the foreclosure crisis. Thousands of home owners are discovering they may be legally liable for a home they thought they no longer owned.
Shadow Inventory Threat Wanes.
Many experts once warned that the looming “shadow inventory” posed a big problem for the housing market’s recovery, but that threat appears to be receding, according to a new report.
2012: The ‘Turn-Around Year for Housing’.
More housing reports released this week show the housing recovery is gaining momentum.
Closed real estate transactions were nearly 18 percent higher in October compared to year-ago levels, according to the October RE/MAX National Housing report, which includes MLS data for 52 metro areas. October — the latest data available — also marked the sixteenth month in a row in which sales were higher to the corresponding month in the previous year.
WCAR 2012 President Sue Kempton (left) accepts her REALTOR-of-the-Year Award from Michigan Association of REALTORS 2012 President Beth Foley. Congratulations, Sue!