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“50 Interviews: Successful Property Managers”
Paul Bishop, NAR vice president of research, said member income rose for the first time since 2002. “The median income of a REALTOR® rose 2.3% to $34,900 in 2011, which is the first overall gain in nine years,” he said. The survey shows the typical NAR member is 56 years old; only 2% of all REALTORS® are under 30 years of age and another 4% are 30 to 34 years old; 22% are 65 or over.
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With rising rents, more renters are being swayed into home ownership, even in pricey housing markets like New York.
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Here are a couple of tips to pass along to your tenants that may help them keep their cool this summer:
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Let’s say you’re walking around a neighborhood and you see a house you find interesting. Even if it isn’t for sale, you can just whip out your iPhone, take a picture of the home and in less than a minute, you’ll have an estimate of its price, plus details on its square footage, number of rooms, similar homes for sale and other facts.
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The vacancy rate in the Ft. Collins-Loveland area, fell to 3.0%, year over year, as employment remained strong in the Ft. Collins-Loveland area, dropping to 6.7% in March 2012.
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30-year fixed-rate mortgages averaged 3.83%, down from last week’s previous record of 3.84%. A year ago at this time, 30-year mortgages averaged 4.63%.
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Even creditworthy borrowers are finding it difficult to get a mortgage nowadays and it’s unlikely banks will ease their standards anytime soon, Federal Reserve Chairman Ben Bernanke told a banking conference in Chicago Thursday.
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1. Madera, Calif
Projected price increase by the end of 2013: 21.5%
2. Medford, Ore.
Projected price increase: 20.1%
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Builders have struggled to compete with distressed homes that sell at big discounts, so one major home builder has found a way it also can cash in on the discounts. For the past year, Beazer Homes USA has been buying up distressed homes and turning them into rentals, hoping that one day these renters will become home buyers.
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