Property Buy and Sell Tips

In 2008, there will be an increase in inventory before it makes a sharp dip.  Sellers whose listings expired in 2007 will be placing their properties back on the market and label it as a new listing.  But anyone who watches the market closely will not be fooled.  This will continue until summer, and sellers will realize that they have no choice but to remove their property listing from the market.  This is when the inventory falls.

Banks will refuse to pay closing costs.  They’ll demand discount rates from escrow companies, and they will also stop playing ordinary closing costs like state documentary transfer taxes and city taxes.

Flood insurance rates wlil rise.  Due to new assemsments of flood risks, home owners will be getting flood insurance policies.  As a result, the insurance rates might double, while those who do not have flood insurance might end up paying rates that are ten times higher than they would have paid before.

This entry was posted on Wednesday, April 30th, 2008 at 5:51 pm and is filed under Information. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.