Those working in the real estate industry use a lot of lingo, and often forget not everyone knows their lingo! Here's a list of commonly used terms, and an explanation of each:
1. CMA- Stands for "Comparative" or "Competitive Market Analysis." It's a report that shows properties that are comparable to the property you are looking to purchase or sell, also ...
Why Canada's Housing Bubble Will Burst
'The largest sub-prime lender in the world is now the Canadian government.'
By Murray Dobbin, Yesterday, TheTyee.ca
What do the mid-recession housing boom and the Harper Conservatives' rise in the polls have in common? Answer: the Canada Mortgage and Housing Corporation's massive sub-prime mortgage scheme that is keeping up the appearance of an economic ...
Commercial Real Estate News reports that the national multifamily vacancy rate is at 7.8%- the highest since 1986. With the highest unemployment rate in decades (9.8%) it's no wonder landlords are seeing more vacancies. The laws of supply and demand have caused a decrease in the average effective rent rates as landlords struggle to fill vacancies.
Link to Article:
http://www.loopnet.com/xnet/mainsite/news/news.aspx?DocID=9968&sourcecode=1lntd009...
Congratulations to the Schmidt family, fellow agents, brokers, and affiliates of Coldwell Banker Schmidt Realtors for once again ranking in Realtor Magazine's "Top 100" for 2008 transaction sides and sales volume. Despite the economic downturn, we have managed to accomplish this yet again. Pat yourself on the back.
Jared Hammond, Realtor, CBSR
http://re.harborportal.com ...
The Harbor Light Newspaper recently published an article providing readers with an update on the Hotel Janelle project in downtown Harbor Springs. It is being compared to the Petoskey Pointe project, and many locals are upset over the ugly hole in the ground where the condominium hotel was supposed to be developed. The developer, Rob Mossburg of the Cottage Company, tries to defuse this ...
When I tell people I'm a Realtor I always get asked "how's the market?" The complete answer requires an explanation, and it's longer than what can be said in idle chit chat, so why not blog about it:
The foreclosure market is doing well, but it's also driving prices down making it hard for home owners trying to sell compete with bank owned properties. The deals can be hard to ...
Two great bank owned properties that can't be beat! Five + bedrooms, 3+ baths, lake Michigan views...
http://NMMLS.fnismls.com/publink/default.aspx?GUID=ac091840-d526-4243-beaf-0ba7ea5536d8&Report=Yes
New listing to share...
First link should direct to a 3 bed/ 1.5 bath two story in Petoskey, MI located close to North Central Michigan College, area schools, the hospital, shopping, and dining. Excellent intoductory price, first time home buyers may qualify for up to an $8,000 tax credit! Call for more info or showing.
http://www.postlets.com/res/2358507
It's not often we read about good news in the media. Network and cable news know that bad news sells, so naturally the focus is violence, traffic accidents, falling stock prices, and toxic assets- bad news. While it is true our nation is experiencing a recession, there is still good news for all the bad- a side to every story.
For first time home buyers and investors the market ...
The "first time" home buyer's tax credit just got a little sweeter. Not only can "first time" home buyers recieve up to an $8,000 tax credit, but now they can actually use it right away for down payment, closing costs, or to buy down the payments. To qualify a "first time" home buyer must have not owned a principal residence during the three-year period prior to the purchase.
This ...