It’s that time of year again for JFK’s 6th Annual Winter Wear Drive. The Winter Wear Drive will run from Monday, 11/25-Friday, 12-6. We are collecting new or gently used hats, coats, gloves, scarves, and boots. The collection bins are located by the front foyer next to the vending machine. It’s a win-win situation…clean out those closets and help someone in need at the same time!
Any items that are donated will first go to JFK families in need or to neighboring schools, and the remainder will be donated to Morningstar Mission. Please spread the word to
“Wear It, Then Share It!”
MON. 11/25– FRI. 12/6
TURN YOUR DONATIONS INTO THE ROUND BINS AT THE
FRONT OF THE SCHOOL. THANK YOU!!!
Donate all types of winter
wear to those in need, such
as: Coats, Hats, Gloves,
Scarves, and Boots.
Home prices nationwide, which includes distressed sales, soared 10.2 percent year-over-year, according to CoreLogic’s February report. It’s the largest year-over-year increase in home prices since March 2006. It also marks the twelfth consecutive monthly increase in national home prices, according to CoreLogic’s report.
When excluding distressed sales, home prices rose 10.1 percent year-over-year in February, according to CoreLogic.
“Nationally, home prices improved at the best rate since mid-2006, marking a full year of annual increases and underscoring the ongoing strengthening of market fundamentals,” says Anand Nallathambi, president and CEO of CoreLogic.
CoreLogic predicts that home prices — excluding distressed sales — will likely rise 11.4 percent year-over-year from March 2012.
“The rebound in prices is heavily driven by western states,” says Mark Fleming, CoreLogic’s chief economist. “Eight of the top ten highest appreciating large markets are in California, with Phoenix and Las Vegas rounding out the list.”
The five states with the highest price appreciation as of February 2013, according to CoreLogic, were:
‘Boomerang Buyers’ to Make Strong Comeback This Year
DAILY REAL ESTATE NEWS | WEDNESDAY, APRIL 03, 2013
Home owners who once lost their homes to foreclosure and short sales — known as “boomerang buyers” — are becoming a growing force of home buyers again.
“Their time out of the market may be shorter than many Americans might expect,” USA Todayreports. “People who go through foreclosure can rebuild credit records and qualify for home loans again in three to seven years if they manage their finances well.”
More than 4.7 million home owners are estimated to have lost their home to foreclosures or short sales since 2007. Seventy percent of them will likely return to home ownership within eight years of their short sale or foreclosure, according to estimates by John Burns Real Estate Consulting. And with the housing downturn starting about six years ago, this could be the first big year for boomerang buyers. Boomerang buyers could possibly account for 10 percent of home sales this year, Burns estimates.
His firm projects that boomerang buyers who lost homes in 2007 through 2012 will number 500,000 a year in 2013 through 2016.
And with home prices still relatively low and mortgage rates hovering at record lows, some boomerang buyers may even qualify for a mortgage that is cheaper than their previous one.
For example, one former home owner in Las Vegas, Dave Peterson, says he lost his home in foreclosure and then declared bankruptcy when he hit financial hardship a few years ago. But last year, he was able to buy a $280,000 home with his wife — bigger than the home they originally owned and lost to foreclosure. Peterson was able to get a 3.74 percent, 30-year fixed-rate mortgage with no money down through the Department of Veterans Affairs, so his monthly mortgage payments are $1,600 — compared to $3,000 for the smaller home he lost to foreclosure.
(if priced at market value) have been going under contract in about 10 in our area!
If your considering a move, call me we can walk through the steps, see if your able, start the process.
Here’s an article, this is happening everywhere!
Seller Shortage Plagues Many Markets
The low inventory of for-sale homes is creating a seller’s market throughout the country.
“Buyers and agents are literally waiting for the next house,” says Rick Turley, president of Coldwell Banker Residential Brokerage for the San Francisco Bay Area.
The supply of existing homes for sale reached nearly an eight-year low in January, according to the National Association of REALTORS®. Nationwide, there is a 4.2-month supply of existing homes for sale.
A more balanced market with a six-month supply will occur when home prices rise another 20 percent, says John Burns, CEO of John Burns Real Estate Consulting. Such an increase would then lure sellers to match demand coming in from renters and investors, and the rise in prices will also lead to more home building, Burns says.
Still, a return to healthy inventory levels could be years off, some say. “Many home owners can’t afford to sell because they don’t have enough equity to put into buying another house — or would have to write a check to sell,” USA Today reports. “The supply of distressed houses for sale is thinning as the foreclosure crisis recedes, especially in some states. Home building, while improving, is still at low levels. And, after years of holding on, few home owners want to sell when prices are just coming off the bottom, REALTORS® say.”