April 2010

There are 3 blog entries for April 2010.

If you thought that the idea of real estate being a great investment was a thing of the past, think again.  The fact that the home prices are so low and rent has not dropped to match, investors are beginning to come back.  Another interesting change is that there is an increase of buyers paying with cash.

The share of home sales involving all-cash transactions was 26 percent in January, up from 18 percent a year earlier,
according to the National Association of Realtors.  The reason for investors paying cash is largely due to the fact that they can avoid paying interest charges on loans and get a larger return on their investment.

National Association of Realtors data shows a pickup in investment activity. Home purchases made by investors climbed to 17

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Members of the Orlando Regional REALTOR® Association filed 4,043 new sales contracts in the month of February, the greatest monthly tally since 2005!  That is a jump of 66.1 percent from last February’s numbers. 

“The new-contract statistic is an important indicator to consider in our current market, as it reflects real-time buyer interest. I expect activity in this category to continue to pick up into late spring as buyers take advantage of the tax credit before its April 30 deadline”, said ORRA Chairman of the Board Kathleen Gallagher McIver, RE/MAX Town & Country Realty. 

More good news:  the median price of all existing homes combined sold in February 2010 increased 7.06 percent from January 2010.  February’s median price was $109,200, which includes

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Vacation-home sales recovered in 2009 while investment sales fell sharply, according to the National Association of REALTORS®.

NAR’s 2010 "Investment and Vacation Home Buyers Survey," covering existing- and new-home transactions in 2009, shows vacation-home sales rose 7.9 percent to 553,000 last year from 513,000 in 2008, while investment-home sales fell 15.9 percent to 940,000 in 2009 from 1.12 million in 2008. Primary residence sales rose 7.1 percent to 4.04 million in 2009 from 3.77 million in 2008.

NAR Chief Economist Lawrence Yun said, “The typical vacation-home buyer is making a lifestyle choice, with nine out of 10 saying they intend to use the property for vacations or as a family retreat. Investment buyers primarily seek rental income, with

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