Category — Home Sales Data

Many home features and amenities add value to a home, but it can be difficult to determine how much value a particular feature adds. When you’re looking at a home with a pool, for example, how much extra value does the pool add versus a home that doesn’t have one? How about a larger kitchen, or wall-to-wall carpeting? Sometimes you find a feature or amenity that you love and you may end up paying more than it’s worth. Make sure you determine the value of a home feature before you pay too much for it.  

Overpriced homes seem like an easy thing to avoid, right? All you have to do is look around the market and check comparable sales to see how much homes are selling for and determine whether the home you’re buying is a good deal. While this is sometimes true, it can also be true that the housing market reflects an inaccurate picture of current market values. You may need to pay a little more attention to avoid overpriced homes, and beware of price-related sales tactics.  

One thing you hear over and over again when you’re shopping for a home is to make sure the home is reasonably priced. As a buyer, you generally want to pay less than the home’s value. The sellers typically want to sell the home for more than its value. Ideally, buyers and sellers compromise and find a middle ground to sell the home. This isn’t always the case, though; sometimes homes simply sell for more than their asking price.  

Median home prices are something you’ll hear about over and over again when you’re home shopping. Your Realtor may tell you about median home prices, and use it as a way to compare potential houses in your marketplace. Unfortunately, median home prices aren’t the ultimate evaluator of homes in your area. Educate yourself about the myth of median home prices.  

There are some interesting speeches, announcements and numbers expected to be released today. As this is being written, Fed Chairman Ben Bernanke is delivering a speech at a congressional conference. 

The U.S. Census Department and the Department of Housing and Urban Development announced that new home sales were up in June of 2009 compared to May of 2009. Not only is the June figure up by 11% from May of this year, but it’s up 21.3% over the new home sales from June of 2008.