To get the latest, go here: http://www.youtube.com/kellerwilliams
To get your home value and search for homes in Illinois, go to My Website.
To get the latest, go here: http://www.youtube.com/kellerwilliams
To get your home value and search for homes in Illinois, go to My Website.
Despite a slight decline in the most recent quarter, the aggregate value of household real estate shows the first year over year gain in 12 quarters. The market value of household real estate as reported in the first quarter of 2010 is $16.5 trillion, up $820 billion since the first quarter of 2009 despite a decline of $65 billion since the fourth quarter of 2009 according to Federal Reserve Flow of Funds data. To put this number into context, Gross Domestic Product (GDP) —the sum of all goods and services produced in the US—in 2009 was $14.3 trillion. This means that the value of real estate assets held by households alone is currently worth 15 percent more than the entire US economy produces in a year. Still, the value of real estate seems to be stabilizing at a level last seen in 2003, meaning that many households have seen a substantial reduction in wealth from the 2006 peak. At its peak, the market value of residential real estate was $22.9 trillion—about 70 percent more than GDP for that year. These numbers are subject to revision. The Federal Reserve uses a weighted repeat-sales index of house prices to assess the market value of household real estate. Weighted repeat-sales price indexes help avoid measurement error found in a pure median price series which captures changes in the value of real estate but also changes in value if the types of properties for sale in one period are different than properties for sale in another period (i.e. larger or smaller; in better or worse locations; older or newer). One drawback of a weighted repeat-sales price index is that it can lead to substantial revision and these revisions can stretch back significantly to the past.
TIPS FOR LOWERING HOMEOWNERS INSURANCE COSTS
REALTOR® Magazine – 2010
1. Review the Comprehensive Loss Underwriting Exchange (CLUE) report on the property you’re interested in buying. CLUE reports detail the property’s claims history for the most recent five years, which insurers may use to deny coverage. Make the sale contingent on a home inspection to ensure that problems identified in the CLUE report have been repaired.
2. Seek insurance coverage as soon as your offer is approved. You must obtain insurance to buy. And you don’t want to be told at closing that the insurer has denied your coverage.
3. Maintain good credit. Insurers often use credit-based insurance scores to determine premiums.
4. Buy your home owners and auto policies from the same company and you’ll usually qualify for savings. But make sure the discount really yields the lowest price.
5. Raise your deductible. If you can afford to pay more toward a loss that occurs, your premiums will be lower. Avoid making claims under $1,000.
6. Ask about other discounts. For example, retirees who tend to be home more than full-time workers may qualify for a discount on theft insurance. You also may be able to obtain discounts for having smoke detectors, a burglar alarm, or dead-bolt locks.
7. Seek group discounts. If you belong to any groups, such as associations or alumni organizations, they may have deals on insurance coverage.
8. Review your policy limits and the value of your home and possessions annually. Some items depreciate and may not need as much coverage.
9. Investigate a government-backed insurance plan. In some high-risk areas, federal or state government may back plans to lower rates. Ask your agent.
10. Be sure you insure your house for the correct amount. Remember, you’re covering replacement cost, not market value.
RISMEDIA, February 11, 2010—More than ever before, home buyers are on the Web and sellers want to sell their homes. What can we, as Realtors, give sellers that they can’t get by going FSBO?
The answer is quite simple: maximum exposure to potential buyers through advanced marketing strategies. By utilizing the MLS, in combination with a targeted Web strategy and search engine positioning, we can offer marketing resources most sellers don’t have to build a website and implement an in-depth strategy to expose their home to the most potential buyers.
Linda Sloss
Keller Williams Fox Valley Realty
630-408-2956
My email: linda.sloss@kw.com
My Website: lindasloss.yourkwagent.com
In hopes of making the process move faster for buyers and sellers alike, Fannie Mae is implementing a new policy. Read HERE for details.
Linda Sloss
Keller Williams Fox Valley
630-408-2956
linda.sloss@kw.com
