Unable to keep pace with modern media subscription services like iTunes and Netflix, Columbia House filed for bankruptcy this week. The former media powerhouse thrived in the ‘90s with its popular mail-based sales promotion offering 12 CDs for a penny. Once digital music started to dominate CD sales, the company switched its strategy to selling DVDs and movie streaming services. With steep competition from Netflix and Amazon subscription services, the company was struggling to survive. At its … [Read more...]
4 Common Down Payment Misconceptions When Homebuying
August 12, 2015 by
Saving up a down payment of 20% before buying a home may be unnecessarily prolonging your time as a renter. According to Housing Wire, this idea is one of four common misconceptions potential homebuyers have about down payments. While that type of sizeable down payment used to be the standard for most conventional loans, there are a variety of other mortgage programs available today. Qualified homebuyers can even put down as little as 3% when buying a home. That’s good news for the average … [Read more...]
8 Signs That Your Home is Not Ready to Sell
August 10, 2015 by
Selling a home requires more than just finding a motivated real estate agent. In many cases, home sellers have to do considerable prep work to ensure the home is in tip-top shape to be viewed by potential buyers. If you rush to list before you’re ready, your house could linger on the market for months without an offer. To help home sellers avoid that frustration, Trulia recently compiled a list of 8 warning signs that reveal you may not be ready to post a “For Sale” sign just yet. One of the … [Read more...]
Top 9 Reasons Homes Could Sell for Less
August 6, 2015 by
In most markets, sellers are still calling the shots. However, according to the latest Case-Shiller index, home sales are beginning to slow. This is forcing sellers to be more realistic about the time it will take to sell their home as well as the price they can expect buyers to pay. If you’re looking to sell in this shifting market, a recent article from U.S. News & World Report may be able to help. The article identifies nine critical factors that could keep you from getting the price you … [Read more...]
Non-Mortgage Debt for Homeowners Reaches 10-Year High
August 4, 2015 by
Non-mortgage debt for homeowners has reached its highest level in more than 10 years according to a new report released by Black Knight Financial Services. The average borrower now carries $25,000 in debt, which is $1,400 more than last year and almost $2,600 more than in 2011. An increase in auto debt is largely responsible for the spike over the last four years. Student loan debt is also on the rise for homeowners. Fifteen percent of homeowners now have student loan debt with an average … [Read more...]
Hollywood Studio Files Chapter 11 Bankruptcy
July 31, 2015 by
Struggling under the weight of approximately $681 million in secured debt, Relativity Media filed for Chapter 11 bankruptcy protection this week. The Hollywood studio rose to prominence by co-financing blockbuster movies like Fast & Furious 6 and 21 Jump Street alongside major studios like Universal Pictures. However, it has struggled in recent years to strike out on its own and produce and distribute solo movie projects. The company’s 2013 thriller Paranoia tanked at the box office as did … [Read more...]
6 Ways to Make the Most of an Open House Visit
July 29, 2015 by
If you are in the market to buy a home, attending open houses is an excellent way to get an idea of what the market has to offer. For buyers new to making the open house rounds, Zillow offers 6 smart tips to help you get the most out of the experience. One piece of advice particularly appeals to first-time buyers who need a real estate agent. These buyers can often find one in the agent who is hosting the open house. According to Zillow, “some of the best buyer/seller/real estate relationships … [Read more...]
8 Avoidable Mistakes First-Time Homebuyers Make
July 23, 2015 by
Buying a home is both an exciting and stressful experience for the first-time buyer. Sadly, because it’s their first time at the rodeo, new buyers often make avoidable mistakes that make it more difficult to close the deal, or even worse, live with the purchase they have made. Thankfully, a new HousingWire article identifies the eight biggest mistakes first-time buyers make and offers suggestions to help them bypass these pitfalls. At the top of the list is not watching their finances before … [Read more...]
A&P Supermarket Chain Files Chapter 11 Bankruptcy
July 21, 2015 by
Just three years after its previous bankruptcy filing, A&P is once again seeking bankruptcy protection. According to The Wall Street Journal, the nation’s oldest supermarket chain filed Chapter 11 on Sunday signaling what many say is the end for the iconic brand. The company has struggled with stiff competition from every angle including the ubiquitous Wal-Mart, the health conscious Whole Foods, and the deeply discounted Aldi’s. In its court filing, A&P said it has found bidders for 120 … [Read more...]
Homebuilder Confidence Reaches Highest Level Since 2005
July 17, 2015 by
Homebuilders are feeling more confident than ever about the new home market according to the latest housing market index released this week by the National Association of Home Builders. A score higher than 50 signals that most builders feel the market is positive. July’s score came in at 60. “This month’s reading is in line with recent data showing stronger sales in both the new and existing home markets as well as continued job growth,” says David Crowe, chief economist for the association. … [Read more...]
