Critical Thinking Case Analysis

If homes in the area tend to sell at a reasonable pace, be leery of a home that's been on the market a long time. Also, see if the home has been pulled

Summer is a great time during the year to buy a house. First time home buyers can enjoy many great offers on buying a house with many options to chose from. Steve Jobs once said “If you have not found it yet, keep looking. Do not settle. As with all matters of the heart, you will know it when it comes”. The most important thing to considered when buying a house is its location. Depending on its location, houses can vary from prices, home security and privacy. The city of Kingwood can be considered a good place to buy a home for those willing to pay high prices for it, but the city of Huffman is a better place to buy a house rather than Kingwood for several reasons.

Right now, the median price for a home in the area is $450,000. The sales price has risen by $75,000 in just the last year. During the same year, the average price per square foot rose from $224 to $238. Since the sales price has risen by 20 percent in just the last year, right now is a good time to enter the marketplace before prices

Homeownership is now competitive in the market with most people willing to bid $10,000 over the asking price. Even with some strong points in the housing market people think that the increasing homeownership is not a worthwhile policy goal for America.

Real estate is still relatively cheap. Single-family home prices range from $190 to $200K builders. There are a couple of local builders that you can contract in the area like Grayhawk homes, Bush Builders, Donald Bowles Builders and others. When it comes to finding the ideal house NewHomeSource has the best property listings for

First question, what type of real estate market are we in? Is it a buyers or a sellers market. This may very well determine if now is the right time for you to buy. Take 2004 as an example. At that point in time it was a very strong sellers market, which meant that sellers had more control over the transaction and could demand more from prospective buyers. Almost every seller was receiving multiple if not 10 or more contracts on their property. This turned every purchase into a bidding war between potential buyers,

Interestingly, if you compare the number of prices reduces in February 2011 (80), to the number of current price reductions (0), it is evident that Apex is currently experiencing a seller’s market. Although homes remain on the market about a month longer, homeowners are not reducing their prices; therefore, higher-priced homes continue to sell in Apex.

- ( :25) After the client advises why she is calling in, Nancy has a good specific initial acknowledgment. This demonstrates that she is listening.

Macroeconomics is an excellent tool for the analysis of the housing industry as something like a capital good, as a home is considered to be, cannot easily be studied in a short-term platform. Real estate is a good that costs several times more than an average persons annual income, in the United States that number is typically 7 times as much, and in the United Kingdom that number is 14 times as much. Several factors of both supply and demand directly impact the housing market on a macroeconomic scale. (Business Economics, 1)

For those who are willing or motivated to sell their property, the best first question to ask them is: Are you willing to buy the property for the price you are selling it? This gives a very good inkling on the price they have set. Next, is asking from long time nearby neighbors if they would buy the property for price it is being offered. From that alone it will already give you a good idea of the value for the property.

The real estate based in Miami Beach, Florida is known to be an affordable market. The price of the properties in this area is below 300,000 USD. There is a common belief that the price of the houses in Miami Beach will be constant in case there is no big change. The price range is highly competitive and all the inventory will be sold out in the next two months. This stands to be the key reason as to why the buyers in Miami Beach come across stiff competition in conjunction with multiple offers. The real estate in Miami Beach holds everything for everyone which incorporates single-family houses as well as condos.

At $236,000, the average sales price of a home in the United States is now above what it was in 2006. Prices in 14 of the 100 largest metropolitan markets in the country are now above their historical averages. Look a little deeper, however, and there are reasonable explanations for the spike in prices. Of the 14 metropolitan markets mentioned above, six are in Texas, which recently experienced a huge oil boom. Texas may serve as a microcosm for what’s happening in the rest of the country.

Cleveland, Ohio, is the most affordable housing market, with an average sale price of $74,502. In fact, 45% of the most affordable markets in the U.S. are located in the Midwest. This is at least in part due to the fact that many of these markets were the first to go into a housing correction, have had a long way to recovery, and are still doing so.

     I began doing research for an affordable house in Long Beach. I looked at prices and interests rates on loans in that area. I looked up houses for sale on www.realtor.com and found one I liked in Los Angeles County in Long Beach California. The house has two bedrooms, two bathrooms and is 1,120 square feet. It was built in 1972 but has been kept nice and modernized on the inside. It includes a water view, two carports, a hot tub, a BBQ, dishwasher, microwave, washer and dryer, garbage disposal, an in ground pool, and a refrigerator. It also has a sewer, distract water, and a free standing gas range. The house costs $239,900.00. My affordable price range is set at $174,887.91 to $244,850.36. I found this by going to http://loan.yahoo.com/m/basics6.html. That website let me enter how much I make in a month and how much my bills are each month. Then it calculates it for you and gives you a price range.

A difficult characteristic to understand about the housing market is how a price is given for a particular house. That price will be designated to that particular house alone. All houses have various pricing, so I can’t always assume that one will cost more or less than any other. The pricing for houses vary based on their characteristics. Each characteristic must be analyzed to determine its contribution or detraction toward the price. I have taken some of these characteristics and modeled the relationship between them and the price of real estate for a specific area.