Home sales head for record year

Nashville City Paper: "Nashville�s residential real estate market continues to build toward a record-setting year, according to sales figures from the Greater Nashville Association of Realtors, which show 3,457 closings in September, a 10.9 percent increase from the 3,117 closings during the same period last year.

Third-quarter and year-to-date numbers are also up from 2004.

The residential real estate market in greater Nashville continues to be healthy and vibrant, said Richard Exton, GNAR president. It is on track to set another record for homes sales this year.

The region's average cost of housing also increased, with the median price for a single-family home in September at $162,610, and $135,000 for a condo. Last September's median residential and condo prices were $149,500 and $126,000, respectively."
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Knox most affordable housing market

The Mountain Press: "The annual Coldwell Banker Home Price Comparison Index (HPCI), which is an 'apples-to-apples' comparison of homes sold in typical, middle-management neighborhoods, found that the seaside community of La Jolla topped the charts at $1,875,000, while Killeen was the most affordable area at $131,328"
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The high price of mortgages

Star-Telegram | 10/09/2005 | The high price of mortgages: "For more than a year, Larry and Teresa Light enjoyed their new home in the Holiday Hills subdivision of North Richland Hills. Then came a notice that they were $7,000 behind in their escrow fund used to meet property tax payments.
They had two options to get caught up: Pay the shortage upfront, or stretch the payments out over the coming year. If they paid it all at once, their monthly house payment would rise from $1,240 to about $1,650 to cover the true costs of a year's property taxes. Stretching out the payments meant a monthly house payment of more than $2,100."
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More sent broke as squeeze hits

More sent broke as squeeze hits - Business - Business - theage.com.au: "THE eastern states that led the nation in rising house prices and wealth accumulation over the past five years are now leading the country in bankruptcies.
Insolvency and Trustee Service Australia figures show bankruptcies jumped 6.4 per cent in the September quarter, compared with last year.
'The fear is that people are getting increasingly exposed to the sensitivities of the economy and are being squeezed and starting to default on mortgages,' Hall Chadwick insolvency partner Paul Leroy said."
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More People Are Walking Away from Home Payments

Greeley Tribune - Business: "There used to be a concept in real estate of getting people into starter homes. Families would start small, slowly build their income, save for a rainy day, and eventually move on to bigger and better.

Now, people want it all and they want it now.

'I have seen a dramatic shift in thinking just within the last five to seven years,
from, 'owning a home is a privilege,' to 'owning a home is my right,' ' said Angel Fuchs, a longtime mortgage lender with Waterfield Mortgage in Greeley."
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Home Renovation Revelation

Bob Bruss Real Estate Center: "If you are even remotely thinking about renovating your house or condo, first come to your senses and read 'Home Renovation Checklist' by Robert Irwin. The result will be you will either plunge enthusiastically ahead, or you will realize how much work is involved, even if you plan to hire a professional contractor.
Author Robert Irwin, who has written dozens of superb real estate books, obviously has extensive experience with home renovations. In his latest book, written in a unique question and answer format, Irwin raises just about every possible issue which might be involved in small and big home remodeling projects."
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Successful Agents 'Forget the Commission'

Bob Bruss Real Estate Center: "If you are considering a real estate sales career, are a new licensee, or are an 'old pro' realty agent, you will profit from reading the latest edition of 'Your Successful Real Estate Career,' by Kenneth W. Edwards. The author, a successful real estate agent and college real estate instructor, shares his insight and many experiences, often humorous, in this great book for beginner and experienced real estate agents.
When I began selling real estate, I wish there had been a book like this one to give me an overview of the true facts about how property sales really work. However, if such a book existed then, I might not have entered the great field of real estate sales, investing, writing and college teaching."
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When Husband and Wife Can't Agree on Home to Purchase

: "The executive secretary was sobbing when she called her real estate agent to break the news: 'My husband won't buy that house I love.' The couple's agent, Joanne Stoltz, was not surprised to learn that the duo had failed to agree on the purchase. The property was an attractive contemporary, featuring a floor-to-ceiling stone fireplace, high-beam ceilings and a central location near the two spouses' job sites. But the home's price tag frightened the husband."
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Why Oddball Collections Don't Belong in a House You Sell

: "The couple was on a home-shopping jaunt, nonchalantly wandering through an attractive house when they encountered the totally unexpected behind a closed bedroom door. Here was a veritable aviary: at least 10 tropical birds, each in its own cage and each fluttering and responding noisily to the invasion of strange humans into the room.
'The buyers were totally stunned that someone could live with that many birds in a house,' says Claire Ringer, the real estate broker who had shown the couple the property. After encountering the bird room, they made a speedy exit, never to return again."
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