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Zillow: Buying Beats Renting in 64% of Metros After 3 Years |
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Buying a home is more affordable than renting in nearly two-thirds of metros after three years of paying for a mortgage, according Zillow. For its calculation, Zillow considered costs associated with buying and renting, such as upfront payments, closing costs, insurance, utilities, and maintenance. Then, the online marketplace looked at historic and anticipated home value appreciation rates, rental prices, and rental appreciation rates to determine how many years would need to pass before buying becomes less expensive than renting. |
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4 Real Estate Moves That Have Surprising Tax Implications |
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Tara-Nicholle Nelson, Trulia.com's Real Estate Realist It’s no surprise that owning a home automatically opts you into a new realm of tax advantages. In fact, in a recent survey of people who bought homes in 2012, 79 percent said the mortgage interest and property tax deductions were "extremely important" factors to their decision to become homeowners in the first place. |
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Zillow: Home Values Rise for 13 Straight Months, Rents Fall Flat |
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Home values still rose into November, marking more than a year of monthly price gains, while national rents fell flat, according to data from Zillow. On a monthly basis, home values inched up by 0.6 percent from October, with the Zillow Home Value Index at $156,200 for November. For 13 straight months now, prices have displayed monthly gains. Compared to November 2011, home values have increased by 5.2 percent, which is the biggest yearly gain since August 2006. |
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Pre-listing inspection might pay off |
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BY TOM STEELE | ENQUIRER CONTRIBUTOR If you're planning to sell your house in the near future, be aware of the higher-than-average number of homes on the market. You'll be up against an abundance of other sellers, so you'll want to do everything possible to help your house stand above the others. If you've done your homework, you already know about the tried-and-true advice: Get your house in tip-top shape by making minor repairs, cleaning and painting. Enlist the help of objective professionals, such as staging consultants and Realtors. There's another important piece of advice: Invest in a pre-listing whole house inspection. |
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Fannie Mae: Housing Market to Press On While Economy Lags |
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After rising in the third quarter, overall economic growth is expected to decline this quarter and in early 2013, according to Fannie Mae. However, the GSE anticipates further strengthening in the housing market. Economists at Fannie Mae anticipate economic growth of less than 2 percent for the first half of 2013 followed by more accelerated growth for the remainder of the year. |
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