Realty Times

An excellent resource for both those in the business and consumers is http://realtytimes.com/

You can sign up for a free daily newsletter about happenings in the market. It is not just bland interest-rate-has-gone-up stuff but information about common transactions, legal judgments, and Q&A features.

One of the things that struck me today was a feature on cons titled Con Men Seen Eyeing Unsold Inventories and how people are convincing the sellers (even builders) to sell at a higher price and give that money to the buyer. I am sure there are exceptions to this rule- when the seller agrees to pay the closing costs (but even in that case, the price should not be hiked), but in general, it is a red flag when a buyer asks the seller to sell at a higher price than s/he is asking.

Another exception to this rule is recent housing bubble- people were getting into bidding wars on their houses. Fortunately, the housing market in this area of North Carolina was never subject to this. Prices were not artificial despite growth in this area.

Although folks move around much more frequently than they once did, let’s assume the average is about every 5 years. Even then, rules change in real estate and rules that remain the same can be forgotten by the consumer. Go ahead and keep yourself educated and abreast of what is happening.