Today’s Marketplace Archive
(MCT)—Andreea Stucker thought she made a good investment when she bought a Huntington Beach, Calif., condo with her boyfriend in December 2005.
But then she and her boyfriend split up.
Private residential construction spending was relatively unchanged for the first month of 2013 due to declines in the volatile remodeling spending category. Nonetheless, total residential construction spending remains near post-2009 highs
The most significant innovation to hit the residential real estate market in decades occurred in 2012 to little fanfare: A first single family REIT (real estate investment trust) went public. For the first time in history, everyday people
Homeowners looking for the most return on their investment when it comes to remodeling should consider exterior replacement projects. According to the 2013 Remodeling Cost vs. Value Report, REALTORS® rated exterior projects among the most valuable home improvement projects.
“REALTORS® know that curb appeal projects offer great bang for your buck, because a home’s exterior is the first thing potential buyers see,”
Sometimes it takes a 30-year industry veteran to have the clearest vision into the next 30 years of the industry.
It’s no surprise to Sherry Chris, president and CEO of Better Homes and Gardens Real Estate LLC, that home buying trends, consumer characteristics and needs, along with marketing and communication strategies surrounding the real estate market have evolved with exponential speed in the last few years. Chris has been an innovator within the real estate industry throughout her three-decade career
Data through December 2012, released this week by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, showed that all three headline composites ended the year with strong gains. The national composite posted an increase of 7.3 percent for 2012. The 10- and 20-City Composites reported annual returns of 5.9 percent and 6.8 percent in 2012. Month over- month, both the 10- and 20-City Composites moved into positive territory with gains of 0.2%; more than reversing last month’s losses.
In addition to the three composites, nineteen of the 20 MSAs posted positive year-over-year growth – only New York fell.
Regional Spotlight--Central Ohio home sales during the first month of 2013 were the highest for January since 2007 just before the housing market began to feel the effects of the economic recession.
How long has it been since you heard the words “sold at a premium over list price?” For the past six years, sales prices ended up somewhere south of list prices by at least five percent. Now, in the markets where
Existing-home sales edged up in January, while a seller's market is developing and home prices continue to rise steadily above year-ago levels, according to the National Association of REALTORS®. Sales rose in every region but the West, which is the region most constrained by limited inventory.
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 0.4 percent to a seasonally adjusted annual rate of 4.92 million in January from a downwardly revised 4.90 million in December,
Exceptionally low interest rates helped ensure a slight gain in nationwide housing affordability amid relatively stable house prices in the final quarter of 2012, according to the National Association
Although the economy seems to be transitioning to a slightly stronger growth path, unresolved fiscal policy decisions pose significant headwinds in early 2013, according to Fannie Mae's Economic & Strategic Research Group. Increased taxes and reduced government spending will keep growth at a subdued pace in the first half of the year before activity picks up in the second half. Net exports also are expected to create a drag as Europe remains in recession and U.S. export growth tries to bounce back from a slowdown in late 2012.
On the more positive side, the improving performance of the housing market is expected to continue through 2013. Boosted by strengthening home prices,
Though home foreclosures continue to be a challenge in many hard-hit markets, a report released this week by mortgage technology company FNC indicates the ongoing housing recovery should continue for the long haul.
According to FNC’s Foreclosure Market Report
, foreclosure prices have bottomed out in recent months and the foreclosure market has stabilized while underlying home values are rising. Foreclosure prices are at a 10-year low (when the sizes of foreclosed homes are factored in).
This trend of a rising underlying market accompanied by stabilizing foreclosure prices is the first encouraging development in the housing recession, according to FNC Senior Research Economist, Dr. Yanling Mayer.
The Beta Brokerage concept shares case studies of entrepreneurial unaffiliated brokers that are breaking the rules of tradition. Better Homes and Gardens® Real Estate works with these companies’ leaders to understand and share their strategies through the brand’s Beta Brokerage Directory.
“Our brand values the entrepreneurial spirit and idea sharing that will drive our industry into the future,” says Sherry Chris, president and CEO of Better Homes and Gardens Real Estate LLC. “We salute these Beta Brokerages who challenge the status quo of real estate and value their
Indicators of consumer confidence were mixed in the first month of the new year. Thomson Reuters and the University of Michigan reported that its final estimate of consumer confidence, Consumer Sentiment,
(MCT)—QUESTION: I bought a co-op apartment unit in January 2010 with a conventional mortgage. I am trying to refinance it and have found that big banks are not willing to work with me. Can you please explain what’s happening here?
ANSWER: When you buy a home in a community, there are several ways that you can own it. In a “fee simple” arrangement, you own the land and home outright and the community