Loan management software is a crucial investment for lenders. Housing markets across the country are working their way back to recovery, and both buyers and sellers are finding areas in which to thrive. Along with an amortization calculator, borrowers can rest assured that if they are looking to invest in property, their monthly payment plans will remain within their financial needs.
Recent numbers from online real estate database Zillow found that when it comes to buying homes, Chicago is at the top of the market. As reported by the Chicago Tribune, Zillow looked at selling prices versus list prices, the number of days a listing was on Zillow and the percentage of homes in a market with a price cut.
Essentially, Chicago properties stay on the market longer, with more frequent price cuts and the homes sell for less than their listing price. These factors all give buyers more negotiating power. When hopeful homeowners partner with a firm which specializes in personal loan servicing, they can be sure to create a financial plan for buying their dream home.
On the other side of the coin, Zillow listed California as the top market for sellers. The study explained that quick turnover and fewer price cuts were two of the main factors in determining the top areas.
According to Zillow chief economist Stan Humphries, many of the strongest sellers' markets are in places that were hardest hit by the housing bubble bursting – California, Nevada and Arizona.
"But much of that strength is driven by investor interest, as many distressed and non-distressed homes are purchased and transformed into rentals," Humphries said. "This investor activity is contributing to very low inventory levels, which increases demand and helps drive up prices, particularly for less expensive homes in these markets."