Inventory of Previously Owned Homes For Sale on the Rise

The National Association of Realtors today report that inventories of homes on the market rose by 5% to a record 4.43 million, representing an 8.9-month supply at the May sales pace. That's the biggest overhang of inventory since June 1992, at the tail end of the last housing bust. You can read the full report on MarketWatch.

If you are buying or selling a home in these uncertain economic times, and you need a bit of advise, be sure to check into my Real Estate Consulting services.

Social Networking for Opportunity Seekers and Real Estate Investors

It's "flippin' fantastic" what the Internet can do to enhance your business. Have you seen the A&E program Flip This House? Well it's official, they're taking the concept online so others can benefit. Take a look...

Internet millionaire Joel Therien is the president of two very popular websites; armandomontelongo.com and hotconference.com. The recently launched ArmandoMontelongo.com is a social networking site for entrepreneurial people and business opportunity seekers alike. Therien states, "The site is there for all types of people who want to meet with others who have some of the same business interests." He goes on to say, "It caters to any type of opportunity, investment clubs, franchises, network opportunities, day traders, you name it and the site caters to it."

With so many filters on the Internet, even legitimate subscriber email is getting blocked, which unfortunately renders newsletters somewhat ineffective and leaves opportunity seekers no valid or cost effective way to find or communicate with each other.

ArmandoMontelongo.com is very different in that it allows people to communicate in real time audio and video conferencing in a secure environment. People can join free knowing that others on the site will enjoy hearing about their opportunities. You can visit the site at http://c21realtr.armandomontelongo.com/

Slumping Housing Market Could Result in Lower Prices

Lower prices for new and existing homes could be on the horizon according to a recent MarketWatch report. The article quotes a Banc of America Securities official who states; "The resale market could suffer from home-builders cutting prices on new homes to shore up sagging sales. As a result, existing homes for sale, many of which were built recently, will continue to sit on the market unless sellers cut pricing aggressively."

Read more here >>

Check out my Real Estate Consulting services here >>

First-Time Homebuyers; Get Your Ducks in a Row!

It's a great time to buy a house. Sellers are pricing their homes competitively and mortgage rate rate are still at historic lows. But though it's a buyer's market, it doesn't mean you're finiacially prepared to leave renting behind.

Kara McGuire, writing for McClatchy Newspapers, gives these suggestions to help you get you "ducks in a row" before purchasing your first home.

• Save your documents. Keep your most recent pay stub, W-2 bank and retirement-account statements for the loan approval process. The mortgage company will run you latest credit report to provide a snapshot of you outstanding debts.


• Play house. Before searching for your new house, bank at least $2,000 per month to give you a taste of what the expenses of owning a home are.


• Don't buy too much house. First-time homebuyers can be tempted to take on a mortgage that's out of their reach and risk becoming stretched by a large obligation against the financial return of ownership.


• Be realistic about profit margin. No matter what you see on TV, don't expect to flip your house and make a substantial profit after owning it a short time.

As a real estate professional, it's my job to help you get your proverbial ducks in a row before buying a home. Call me any time at Heldt Realty.