How many people have put their "prime" homes up for sale and have received "0"offers?
My neighbors homes are in stable area:Schools are award winners.The police & fire protection rated highest in our midwestern State: Close to outstanding shopping, medical, and transportation. Everyone wants to live here!
So I thought.
These homes are the newest and best, 3-5 years old, and are bargain priced in the 300-500,000. range. Many are telling me that they got into the homes with little down, and flexible/fixed loans which had premiums go up hundreds as the taxes, insurance, and other "adjustments" to numerous to mention went well above their earning powers, so they are wanting out.
Some are selling off other assets to keep up, others are using credit cards to make ends meet.
Real estate agents tell them the market is slow. Some lower the asking price below what they had to pay for them.
Still no interested buyers.
Foreclosure simply means an empty home bought by a foreign subsidiary.The morgage holder makes $$ but shows a loss, legally!
What's next?
Could be a slow market in your area. What are employment conditions like?
Maybe the house you're talking about is priced too high.
Filed under Home Insurance by on Jun 2nd, 2010. Comment.
If you live in some place like North Carolina, then chances are that your main mode of transportation is by car, truck or sport utility vehicle. Sure, North Carolina has some mass transportation in the form of buses, trains and taxis, but you are going to wind up paying far more for these sorts of transportation methods versus just owning your own vehicle.
In more metropolitan areas such as New York City and San Francisco, mass transit works wonders. For instance, if you live in Manhattan, it is almost a convenience to own a vehicle because this means that you then have to constantly fight to find a parking space. In addition, parking in the city is never free, and you often have to pay heft fees to secure a regular parking space in a local garage or otherwise. Instead, most people commute by train, taxi or walking. There are even some people who are brave enough to actually use a bicycle to navigate the busy city streets.
Mass transit is extremely convenient in a lot of ways though. For starters, when you use mass transportation, you don't have to worry about paying a high car payment each month or paying for car insurance. This can sometimes save people huge sums of money alone. However, you have to face the possibility of being inconvenienced when you have to wait outside in the cold for a bus that is not running on time or for a cab because most of the other cabs are full. There is less privacy with public transportation than you woul have if you owned your own vehicle. There are also people who get along fine by joining a carpool system; but again, you are faced with the fact that you have to share a space with other people who you may not necessarily know or care to share a commute with. In essence, you often get what you pay for.
In other cities such as Raleigh, Charlotte and elsewhere in the United States where there has been a population explosion over the last couple of years, mass transit is becoming increasingly popular as people are seeking alternative forms of transportation to help the get where it is they need to go. In the city of Raleigh, for instance, there has even been discussion of having a monorail system built to help transport people between the cities of Raleigh, Durham and Chapel Hill, North Carolina (which constitutes the 'Research Triangle'). However, ideas like this often take a long time to implement due to high costs and budgetary constraints.
There is hope, however, because recently, designs have been drawn up and are starting to be implemented for making the 'Research Triangle' area of North Carolina a more commuter-friendly place to live. Things such as bike lanes on roads, roundabouts and shuttles are making it easier than ever for people to get where they need to go without always having to necessarily rely on a car to get them there.
Filed under Home Insurance by on May 16th, 2010. Comment.