Sell your house faster in a tough market

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By Donna Rosato June 27, 2011: 10:27 AM ET

(Money magazine) -- It's an extreme buyer's market -- and home values could fall another 5% by year-end. Here's how to meet the challenge faster, cheaper and better.

Faster

Underprice the place by 10%. Doing so will be painful, no question. But with cheap foreclosures still flooding real estate markets around the country, listing your home for less than comparable ones in your neighborhood is the best way of unloading it as quickly as possible. By making your home look like a bargain, you'll attract a crowd, says Steve Murray, editor of Real Trends newsletter_ and ideally start a bidding war. Remember: Your listing price is not necessarily your selling price.

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3 ways to save on home costs

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By Beth Braverman June 22, 2011: 6:23 AM ET

(Money Magazine) -- 1. Negotiate on repairs and upkeep
Price trend: Contractors, still facing a slumping real estate market, will strike a deal to get your business. In a May survey by consumer review website Angie's List, 81% of contractors say they'd negotiate labor costs; more than a quarter say they'd drop prices by more than 10%. Service providers like house cleaners and landscapers are cutting rates, too. Click here for full article

Fixed mortgage rates steady near yearly lows

Bellwether 30-year fixed rate up slightly to 4.51 percent

By DEREK KRAVITZ

updated 6/30/2011 11:28:57 AM ET

NEW YORK — Fixed mortgage rates were mostly unchanged this week, hovering near their annual lows.

The average rate on the 30-year loan rose slightly to 4.51 percent, Freddie Mac said Thursday. It hit its lowest level of the year three weeks ago, at 4.49 percent.
The average rate on the 15-year fixed mortgage, a popular refinancing option, stayed at 3.69 percent. It reached its low point of the year two weeks ago, at 3.67 percent.

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Yes, you can still sell your home in this market

But homeowners have to be realistic about price, and ignore the web at your peril    

By DAVE CARPENTER

updated 6/27/2011 1:46:24 PM ET

CHICAGO — The home next door is in foreclosure. The neighbors down the street just put their house up for sale at a ridiculous discount. And "For Sale" signs litter lawns all over town.

Welcome to the toughest selling conditions in years.
The bright side of selling a home in a down market is you get to seek your own bargain if you're going to buy after you're done. Closing a sale, however, can be teeth-grindingly slow if you don't do everything right — and maybe even if you do.

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Contracts to buy homes rose sharply in May

But it remains to be seen whether buyers follow through

updated 6/29/2011 10:24:50 AM ET

WASHINGTON — The number of Americans who signed contracts to buy homes rose sharply in May, pushed higher by an influx of spring buying.

The National Association of Realtors said Wednesday that its index of sales agreements for previously occupied homes rose 8.2 percent last month, to a reading of 88.8. That followed April's seven-month low of 82.1.
A reading of 100 is considered healthy by economists. The last time the index reached that level was in April 2010, the final month when buyers could qualify for a federal tax credit. Signings are now 17 percent above June's reading of 75.9, the lowest figure since the housing market went bust nearly four years ago.

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Washingtology: 5 favorite D.C. spots

By Kyle Balluck

Thinking of what to do this weekend? Check out the new “5 favorites” list!

(Sarah L. Voisin - The Washington Post)Each week, Cultural Tourism DCasks prominent Washingtonians to share places or events that are special and unique to Washington.

This week, D.C. Office of Planning’s Public Space Programmanager Chris Shaheen shares his 5 favorite spots. Union Station tops his list. He says the train station’s main hall is a treat.

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Smart-grid technology gets electric utilities and consumers interconnected

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By Katherine Salant, Published: June 10

In the world of home building, a phrase such as “the new American dream” conjures images of flashy show houses and the latest and greatest in features and materials. In the world of engineering it conveys something else altogether, as I learned at a conference at the University of Kansas last month.

The focus of the New American Dream symposium — jointly sponsored by KU’s Transportation Research Institute, its Interdisciplinary Research Initiative in Nature and Culture, and the university’s Commons partnership — was the “smart grid” and the evolving relationship between electric utilities and residential customers.

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