With all of the recent changes concerning foreclosure homes, it may be difficult to understand how bank-owned properties are handled. The authors at CNN Money have put together a short quiz that will test your knowledge on foreclosures, helping you to put your foreclosure IQ in perspective. Click here to access the quiz and determine where you stand.
For further information on foreclosure homes, please contact us!
A recent report released by the U.S. Census Bureau in conjunction with the American Housing Survey highlights several key statistics on the nation’s housing in 2009. Some of these numbers are highlighted below. For a full report, please click the “Full Article” link at the bottom of this post.
- The nation’s homeowners paid a median of $1,000 in monthly housing costs in 2009, compared with $808 for renters. However, renters usually paid a higher percentage of their household income on these costs than did owners (31 percent compared with 20 percent).
- About 70 percent of respondents rate their homes an 8, 9, or 10 on a scale of 1 to 10 with 28 percent giving them the “best” rating of 10.
- The median purchase price of homes was $107,500; for a newly constructed home, it was $240,000.
- Thirty-two percent of owner-occupied units were owned free and clear, 66 percent had a regular and/or home equity mortgage and 2 percent had only a line-of-credit.
OutFront Magazine is distributed six times per year to all of the associates in the Keller Williams system. It provides helpful information and tips to agents and features stories focused on what it takes to be a successful businessperson in the real estate industry. To browse the current issue of OutFront magazine, click here.