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Housing
Cost of 4-Bedroom Homes in the Most and Least Pricey Cities
Homes are one category where you cannot judge the cost by its cover. Housing prices vary wildly depending on geography — the same chunk of change can buy a 1,000 square-foot condo in one part of the country or a 5,200 spacious home in another area.
The 2009 Coldwell Banker Home Price Comparison Index was released this week, and it's an "apples-to-apples" comparison of the prices around the nation for 2,200-square-foot, four-bedroom, two-and-one-half bath, single-family homes.
Would You Rent an $1,850 Apartment With No Bathroom Sink?
The next time you're kvetching about your apartment's shortcomings, consider 27-year-old Atossa Movahedi's one-bedroom Chelsea apartment. The New York Times tells the story of Atossa's search for something within her price range that wasn't a studio and located in one of her preferred neighborhoods. After living with roommates in various Manhattan neighborhoods, she was determined to find a place to call her own for about $1,600 a month.
7 Guidelines For First-Time Home Buyers
Just about a year ago, our financial system as we knew it was collapsing — Wall Street was in shambles. Things kept getting worse in pretty much every corner of the economy, and we're still trying to figure out whether or not the country has reached a state of recovery. The housing market has been particularly tumultuous, but many new buyers are taking advantage of lower home prices and finding themselves in escrow for the first time.
Where It Costs Less to Own Than Rent
We got some good economic news during the past week with announcements that July's new and existing home sales jumped significantly, beating analysts expectations. While buying a home isn't the best choice for everyone and not every American considers home ownership part of the dream, lower prices have made it an option for more people who want it.
Because the market has sunk deeply in certain areas, owning a home can cost nearly the same as renting.
Are You Hoping to Take Advantage of the Homebuyer's Credit?
First-time buyers hoping to take advantage of the homebuyer's credit are feeling the pressure to find a place soon. Eligibility for the tax credit states that the deal must be done before Dec. 1, and that deadline is creeping up quickly.
The 10 Strongest US Real Estate Markets
Bubble-induced regret has a lot of Americans kicking themselves over buying property at the wrong time. Some places managed to avoid the bubble trap and now have strong housing markets relative to the greater real estate picture.
BusinessWeek and Zillow.com ranked metro areas based on the number of single-family homes with increased values in the second quarter compared to the same period last year.
Gone Are the Days of the McMansion?
US home foreclosures are still occurring at record rates. July's foreclosures were up seven percent from June and 32 percent from a year earlier — one in every 355 households with a loan got a foreclosure filing. The jump can be partly attributed to the rising unemployment rate as people lack wages to pay their mortgages.
Ask Savvy: What Are Your Tips For Renegotiating Rent?
Dear Savvy,
My boyfriend and I have been considering downsizing into a cheaper apartment. I was looking online and noticed that a similar apartment to ours in our complex is being offered for $300 less a month than we pay. Our lease is up in two months.
Three Lessons to Learn From the Housing Fiasco
The deflated housing bubble has had widespread effects that continue to poison the lives of many Americans and the greater economy. As much as we are faced with stories of foreclosure after foreclosure, the results of a recent survey by real estate website Zillow suggest that many aren't taking away important lessons from the housing debacle. ABC News Consumer Correspondent Elisabeth Leamy is discouraged by this and offers a few key takeaways from the popped bubble.
NJ Woman Bakes Her Way Out of Foreclosure
Mortgage apple cakes are the tastiest thing on the menu for one New Jersey homeowner. Angela Logan must make a $2,559.54 payment on July 26 if she wants to keep her home of 20 years out of foreclosure, and because of a successful bake sale it looks like she'll meet the deadline.
Logan cooked up the idea to sell apple cakes for $40 each in order to pay her mortgage, and as of Tuesday, she had more than 500 orders, including one from Hong Kong.
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