Some Buyers Need To Sell Faster Than They Originally Thought
A report from KIVI TV 6 in Idaho. "It's no secret that the housing market in the Treasure Valley is booming. Jessica Argyle and her family just got the keys to their new house. The process went smoother than she thought. 'We didn't think we would qualify for a house because we both went back to school and have been getting back on our feet and just decided to see where we were at and luckily it all worked out,' said Argyle."
"She only started looking for a house six to eight weeks ago. 'It went really fast after that,' said Argyle. 'We thought we were like a year off and it worked out that we aren't and it's awesome.'"
The Standard Journal in Idaho. "'I get a lot of complaints from younger families who would like to buy a home. They would rather live closer to campus, but there’s not that much available. What is available is overpriced and only lasts a very short period of time before it sells,' said Rexburg Real Estate Agent Bob Canning."
"There are significantly more homes available between $250,000 and $300,000 in the region. Currently there are 31 such properties available, but first time buyers often can’t qualify to pay those costs. 'That kind of price keeps young families out,' Canning said."
"Yet, for those who snag a home, financing is available thanks to various flexible nontraditional home loans. Beehive Credit Union Mortgage Loan officer Jeanne Wright says that the credit union relies on nontraditional ways to help get young families into home loans. The credit union uses Idaho Housing and Rural Development of Idaho to help families get into a home."
"'With rural development, there is 100 percent financing. They don’t need a down payment,' she said."
"Idaho Housing also relies on other sources of credit for young families who may not have much on their credit report, Wright said. 'For instance, we could use a 12-month rent history. We could use a history of paying their utilities, school tuition – anything they pay,' she said."
"The bank also considers student loans that are in forgiveness when considering a family for a home of their own. 'If they have applied for an income-based repayment program, and it says ‘Due to their income, they don’t have to make any payments,’ we can use that. We can get them on the HUD housing Idaho housing preferred program,' she said."
From Lehigh Valley Live on Pennsylvania. "Prices keep decreasing in today's housing market. There's no one reason why, according to real estate experts. Homes could be overpriced from the get-go or some buyers could be in financial binds and need to sell faster than they originally thought."
"If a seller prices a home too high -- even in a hot market -- it’ll sit on the market, growing stale to savvy buyers until they reprice it, said Ilyce Glink, who hosts the 'Real Estate Minute'. We gathered a sampling of some of the most recent reductions across Northampton and Lehigh counties and listed them from high to low, according to Trulia."
"We also found a few homes that have hit the foreclosure stage and going up for auction later this month. The steepest savings we found in the sampling included one home reduced by nearly $338,000."
From New Jersey Advanced Media. "One of only three homes in the state designed by famed architect Frank Lloyd Wright went back on the market over the weekend for $1.45 million, according its Trulia listing."
"Known as the James Christie House and designed in 1940, the Bernardsville home is located on more than 7 acres and has been on-and-off the market since June 2016, when it was first listed for $2.2 million, according to the listing."
"Besides the distinctive architecture, the home also has a great master suite (pictured above) and two fireplaces. Since the current owners bought the home in 2015 for $1.7 million, they have made a variety of updates, including replacing the roof and electrical upgrades, according to previous reporting by NJ Advance Media."