8.5% Drop on New listings for homes for sale in the Pittsburgh Region. A courtesy news of Biz Journal.

New listings for homes for sale in the Pittsburgh region dropped 8.5 percent in March, according to a report released Tuesday by West Penn Multi-List.

There were 3,258 homes newly listed in the 13-county region of southwestern Pennsylvania compared to 3,562 in March 2012. Residential homes placed under agreement were up 10.4 percent to 3,709 and the average home sale price of $157,644 was up 3.4 percent.

“We’re seeing an increasing number of homes sell more quickly and for a higher price than they did last year at this time. With an improving economy, new population growth and continued low interest rates, we expect the homes that are on the market will continue to sell quickly," West Penn Multi-List Inc. COO Barbara Kohl said in a prepared statement. 

To learn more about the drop on the new home listing percentage in Pittsburgh, please visit this website link -- http://www.bizjournals.com/pittsburgh/blog/morning-edition/2013/04/new-home-listings-down-8-percent-in.html?iana=ind_rre

Free eBook for Sellers.  For a free copy of more helpful information, please visit  http://www.hamptonroadsrealestateguide.com/atj/user/SellerResourceGetAction.do

to download our free eBook for Sellers. 

Some other thoughts to assist you in selling your property.  Setting your asking price could be one of the most important decisions you will ever make.

Depending on how a buyer finds your home, price is often the first thing he or she sees, and many homes are discarded by prospective buyers as not being in the appropriate price range before these homes are given a chance to be shown.  It's important to realize that an analysis of what homes have recently sold for in your local area is NOT enough to help you properly price your home. Prospective buyers will be comparing your home to all sorts of properties in different areas. You're not just competing with the home around the corner, but also with all homes in other areas which have the same basic characteristics (number of rooms, overall living space, etc.).

Your asking price is often your home's "first impression", and if you want to realize the most money you can from your home's sale, it is imperative that you make a good first impression. Thinking like a buyer becomes a valuable skill when considering your price.

While you're figuring it out, remember that we offer a FREE home evaluation AND lists of recent home sales in the area, with no obligation to list with us. And as a full service agency with a massive clientele base serving both buyers and sellers, chances are high that we may already be working with your buyer!  Call our office today at 412-339-0415 to get the vital info you need to set your price.

For a free copy of more helpful information, please visit  http://www.hamptonroadsrealestateguide.com/atj/user/SellerResourceGetAction.do 

to download our free eBook for Sellers.

US Economy improved with the rise in Mortgage Interest rates. A news courtesy of Finance Fortune CNN.

Mortgage interest rates have been rising on signs that the U.S. economy is improving. Last week, the 30-year fixed rate reached the highest level in more than six months, climbing to an average of 3.63%, compared with 3.52% the previous week and 3.92% a year earlier. The current rate is the highest it's been since the week of Aug. 23 when the 30-year fixed rate averaged 3.63%, according to Freddie Mac.

For the past few years, mortgage rates have sunk to new lows as the Federal Reserve continues to buy up hundreds of billions of dollars worth of bonds. The policy is meant to get everyone from investors to consumers to borrow and spend more. While it has driven many homeowners to refinance existing home loans, it hasn't spurred nearly as many mortgages for home purchases.  In 2012, refinances made up 71% of all mortgage originations, according to the Mortgage Bankers Association, a group that tracks mortgage rates and home loan trends.

Home sales last year rebounded more than most ever thought. Even if mortgage rates edged higher, the recovery could last for a few reasons.

For one, those who've been eyeing to buy a home may finally pull the trigger once they realize that borrowing is still cheap and it would be wise to lock in today's mortgage rate rather than wait and see where rates could fall tomorrow or months from now, says Andrea Heuson, finance professor at the University of Miami. "It could bring serious purchases back to the market."

To be sure, the Great Recession has proven that mortgage rates have almost no influence over home prices. And so the sustainability of the housing recovery will depend more on factors such as jobs growth than the cost of taking out a home loan.

The news would encourage more home sales. Find more information about it by visiting this link http://finance.fortune.cnn.com/2013/03/18/interest-rates-housing/

A new data from Zillow shows Pittsburgh's upswing in its housing values since the starting months of this year, 2013. This is a News courtesy of Post Gazette.

The online real estate site found that home values in the Steel City increased 1 percent to $112,900 in January compared to December. That’s a 2.9 percent increase year-over-year.

The same was not true for rents in the city, which declined 4.4 percent to $942 since December. That figure was down 3 percent from January 2012.

Nationwide, home values edged up 0.7 percent month-over-month to $158,100. It was the fifteenth month in a row that home values saw gains. Year-over-year, home values increased 6.2 percent. It was the largest gain since July 2006, Zillow said, when home values increased 7.5 percent year-over-year.

Rent went down 0.2 percent to $1,271, according to Zillow’s Rent Index. However, national rents saw a 4.3 percent increase compared to January 2012.

“The winter months are typically when things cool off in the housing market, but high demand and continued tight inventory in many markets have helped keep things at a boil through the early part of 2013,” said Zillow Chief Economist Dr. Stan Humphries.

Read more by visiting http://www.post-gazette.com/stories/life/zillow/pittsburgh-home-values-continue-to-rise-678483/ for more details concerning the continues rise of Pittsburgh home values.

http://money.cnn.com/galleries/2011/real_estate/1102/gallery.best_recovery_bets/5.html

The article states that Pittsburgh low home prices and our family income means the financial barriers to homeownership are very low.

Pittsburgh was just ranked by bestplaces.net as a safe place.  For more details, see

http://www.pittsburghlive.com/x/pittsburghtrib/news/pittsburgh/s_714508.html

Forbes has ranked Pittsburgh #2 as the Most Affordable City.  We scored #1 for Housing Costs.  Another example on how the Pittsburgh market is where you should invest in real estate.

Pittsburgh Ranked #1 with Sperling's Best Cities to Relocate to in America

Pittsburgh is considered affordable: The cost of living is 12.2 percent below the national average.  Pittsburgh is repeatedly ranked as one of the most livable cities with a low crime rate, ranking high on both arts and colleges, and it's at low risk for a natural disaster such as an earthquake, hurricane or tornado.http://realestate.yahoo.com/promo/best-cities-to-move-to-in-america.html

And the best part, is that is repeatedly ranked as one of the best sports cities, with the six-time Super Bowl champion Pittsburgh Steelers, the Pittsburgh Pirates baseball team and the Pittsburgh Penguins hockey team.   There is no other town with more loyal sports fans.

The unemployment rate is 7.8 percent, which is below the national average of 10.2 percent. 

For the complete article, please visit

Existing-home sales rose again in September according to the National Association of Realtors®.  This comes after an increase in August too.  For the complete article, please visit http://www.realtor.org/press_room/news_releases/2010/10/sept_strong