New Home Sales Rise

Sales of newly built single-family homes rose 11 percent in June to an annualized rate of 384,000, according to a report released Monday by the U.S. Department of Housing and Urban Development.

Analysts called the report a good sign.

"That is really good news,” said Peter Morici, an economics professor at the University of Maryland. “With all the foreclosure activity sending down home prices, for new homes to jump like that is a good indicator that the economy is bottoming out."

Pat Newport, a housing industry analyst for IHS Global Insight, also applauded the report. "The tax credit is boosting demand, but what will happen when it goes away in December?" he asked.

Excess inventory still exists in some key markets:
California
Florida
Las Vegas
Arizona

But overall, business is better. "The time for getting deals is going away." Markstein said.

CNNMoney.com, Les Christie (07/27/2009)

Easy Ways to Improve Curb Appeal

Curb appeal can make or break a sale in today’s market. If you as a seller are willing to improve the outside of your home, here are some low-cost ways to increase a home’s curb appeal.

• Clean up beds by weeding and pruning shrubs. Add mulch for a high-end look.
• Invest in pots. A couple of attractive ceramic (or ceramic look-alike) pots filled with attractive plants can really make an entrance look classier.
• Install landscape lighting on the path to the front door.
• Replace the mailbox with a newer one and put some nice plantings at its base to dress it up.

Buyers Shouldn't Wait . . .

Fear of overpaying for property is common these days; however, below are some important factors:
Waiting for the right time can be expensive. Some buyers would have more equity today if they had bought when they were first considering it, instead of continuing to pay rent.
Financing is fickle. Some people who were highly qualified last year can’t find financing this year because the credit market has tightened or their personal financial situation now makes them an undesirable borrower.
Interest rates are headed up. If prices decline by another 10 percent, but interest rates increase by 1 percentage point, the monthly payment will be the same.