How much did real estate prices decline between 2006 and 2009?
- What percentage of Americans saw their house equity decline from 2006 to 2009?
- How much real estate value disappeared during the decline of 2006 to 2010?
- What percentage of online economic users use the Internet to find information on their homes' value?
- What are some top real estate websites I can use to analyze current and past listings on my own?
- How often do sellers reduce their prices?
- If home mortgage debt rises, does that signal a turnaround in the real estate market?
- What actions of the Federal Housing Administration (FHA) will affect the housing market in 2014?
The average home lost 33% of its value during this period of economic decline.
What percentage of Americans saw their house equity decline from 2006 to 2009?
Twenty-seven percent of all Americans saw their home value cut by at least half from 2006 to 2009.
How much real estate value disappeared during the decline of 2006 to 2010?
During the decline of 2006 to 2010, $6 trillion in home values was wiped out.
What percentage of online economic users use the Internet to find information on their homes' value?
Eighteen percent of users use the Internet to find current home prices, trends, and data pertaining to the value of their homes.
What are some top real estate websites I can use to analyze current and past listings on my own?
Thousands of websites enable users to search for homes across the United States and many parts of the world, especially as more real estate companies and organizations publish and tie together electronic records of current home listings online. Some real
Why is the speed of selling a house so important?
Most online real estate sites allow users to see how long a house has been available on the market. The longer the house is on the market, buyers may perceive there is something wrong either with the house or the price, and may be more reluctant even to look at the house.
estate companies use mapping software such as Google Maps that enables users visually to see the homes, nearby parks, streets, and areas; to have an aerial view of the property; or even see the prices of all houses for sale on a map. This makes it much easier for sellers to price their houses properly, and for buyers to have the proper expectation as to the market price of all houses in a specific area or even geographic radius. The sites below consistently rank very high based upon unique monthly views by website usage experts: Experian's Hitwise study, which uses sophisticated monthly sampling data to support its conclusions and rankings; homes.yahoo.com; Realtor.com; Zillow.com; HGTV FrontDoor; Trulia; Rent.com; MSN Real Estate; Homes.com; ZipRealty; and Mynewplace.com.
How often do sellers reduce their prices?
In July 2010, according to Trulia, 25% of all U.S. sellers cut their prices in order to sell their houses.
If home mortgage debt rises, does that signal a turnaround in the real estate market?
According to experts at CNBC, when home mortgage debt rises, it usually means the real estate market is turning around, as more people seek loans to acquire real property of all types. Recently, it means that mortgage debt grows as banks foreclose on fewer homes, clearing less debt off their books. Goldman Sachs researchers found that by August 2013, 57% of all residential home sales were all-cash deals in which buyers obtain no financing. This is up from 19% in 2005.
What actions of the Federal Housing Administration (FHA) will affect the housing market in 2014?
The Federal Housing Administration, which guarantees and insures many home loans, will drop its limit of what it will loan by more than $100,000, from $729,000 to $625,000. The FHA has instituted increased premiums and fees, and requires a much higher average credit score for its borrowers. This may further suppress demand for purchases, especially loans to first-time home buyers, who typically use FHA loans for housing purchases.