C21AGVoices

Here’s what you need to know about how short sales work and what circumstances might call for one.

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Last week’s economic news included several reports related to housing. The Case-Shiller and FHFA reports for June showed a further slowing in home price growth. New home sales for July fell short of the expected reading, but pending home sales exceeded expectations.

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Whether this is your first big purchase, or your family is moving to a new location or looking for more space, buying a home has its share of ups and downs. It’s perfectly normal to feel anxious about whether or not you’ve found the right property.

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The Case-Shiller 10 and 20-City Home Price Indices for June reported year-over-year gains of 8.10 percent while the Case-Shiller National Home Price Index covers all nine census regions and reported a year-over-year gain of 6.20 percent.

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When the sale of real estate takes place, a certain amount of time might be allotted after a contract is created but before the transaction is finalized. During this time the buyer may decide not to follow through with the deal set forth in the contract.

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The Department of Commerce reported July sales of new homes dropped by 2.40 percent over June to a four month low. Analysts noted that although July’s reading of 412,000 new homes sold fell short of expectations and June’s reading, the new homes sector is volatile and subject to change.

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Last week’s economic news brought several reports related to housing. The National Association of Home Builders (NAHB) Wells Fargo Housing Market Index for August rose by two points to 55, which was its highest reading in seven months.

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Not all homeowners are aware that home insurance policies don’t necessarily cover damage related to a flood, as the risks are too great.

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When you’re staging your own home and giving tours to prospective buyers, it’s important to give them something to remember, and saving the best for last is one way to do it.

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The purchase agreement is a vitally important document that outlines the provisions, terms and conditions for the transfer of property. It should be read carefully and any ambiguities should be clarified prior to signing.

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