Is Now A Good Time to Buy or Sell Residential Real Estate?

The other day, I was at the post office standing in line and I was talking to a gentleman who lived in Seattle. He is a snowbird, and he comes to our city, Palm desert California to reside in the winter months where the average ambient temperature is 70-degrees F for about 7 to 8 months per year. It only rains eight days on average during the fall, winter, and spring seasons. He was glad to be here, and he had bought a new home in the area, actually a manufactured home in a nice gated community with a golf course surrounding it.

He said he got a deal that was so good he couldn't pass it up, he couldn't say no, and he bought it sight unseen actually, well, he looked at the videos and pictures on the Internet. He told me that he felt like it was a good time for him to buy because he expected the real estate in this area to pick up. He noted to me that although the prices in Seattle had fallen some 40% after the 2008 crash, right now they were picking up in about 3% per month. That's a good thing and that means the real estate, at least the residential real estate in his area in a suburb city of Seattle was doing well.

10 Real Estate Numbers That Will Surprise You

If you watch the news or read the paper, you probably hear all kinds of things about the real estate market. But what's really going on -- and how does it affect you?

While there is a near-endless array of statistics that are designed to measure the health of the nation's real estate market, these 10 numbers are some of the most important -- and they'll also come as a total surprise:

1. As of July 2012, the nation's average home sale price was $189,500. That's $20,000 more than the average selling price back on March 1st. Even better news? The average listing price is currently $194,900 -- meaning that sellers are getting just about everything they're asking for.

30 Year Home Loans

It used to be the first choice of most borrowers, because since the total payments are spread over a longer period of time with the interest rate set for the entire time of the mortgage. 30 year home loan rates are an industry standard but is it the right choice for you?

The 30 year home loan is an industry standard, but is it the right choice for you?  Because the total payments are spread over a longer period of time and the interest rate set for the entire time of the mortgage.  This was the first choice of most home owners.

As we mentioned, the plus side for a 30 year home loan is lower monthly payments.  This attraction is somewhat dimmed by the fact that you pay thousands extra in interest.  But, your interest is 100% tax deductible which does lower your after tax cost.  It offers you some flexibility so that if your financial situation changes and you have more money you can pay it off in less than 30 years, this while keeping the low monthly payments.  Your payments are smaller so in reality you can purchase a larger roomier home.

Home Loans with Bad Credit

You have just seen the house of your dreams but you have had credit problems.  The ability to find home loans with bad credit can be difficult but not impossible.

Previous to 1990 if you did not qualify for a FHA or VA home mortgage it was very difficult to get a mortgage.  This since has changed and there are companies providing home loans with bad credit on a daily basis.  These loans were introduced to help high risk borrowers to secure a mortgage and become homeowners.