Luxury Real Estate Archive
RISMEDIA, February 7, 2011—With homeownership dropping and rental vacancy rates rising, it is clear many Americans are looking to make a change to renting instead of owning their home. Currently, homeownership levels are at 66.5%, the lowest they've been since 1998, reported recently by the Department of Commerce, and the rental vacancy rate at 9.3%, the highest its been since 2003. Many prospective investors could take this information and apply it to a very lucrative decision for future investment property purchases.
RISMEDIA, February 5, 2011—(MCT)—Faced with a dramatic decline in the number of Americans moving to Florida, community boosters are promoting the Sunshine State as a cluster of research and technology, not just a balmy place to live.
RISMEDIA, January 31, 2011—New home sales increased 17.5% month-over-month in December 2010 to 329,000 units, after being flat month-over-month in November. On an annual basis, new home sales fell 7.6% year-over-year in December after falling 23.9% year-over-year in
RISMEDIA, January 29, 2011—(MCT)—The spring real estate market is approaching, and this year there is no federal tax credit to get wary buyers off the fence. A recent survey of 3,500 U.S. homeowners and renters conducted for the National Association of REALTORS® by Harris Interactive found that 60% of those who would like to own a house worry about job security and creditworthiness.
RISMEDIA, January 28, 2011—California home sales rose in December 2010, posting their highest level since May, according to data from the California Association of REALTORS® (C.A.R.). The statewide median price increased from November, but was
RISMEDIA, January 27, 2011—RealtyTrac, a leading online marketplace for foreclosure properties, released its 2010 Year-End Metropolitan Foreclosure Market Report, which shows that while foreclosure activity increased from 2009 in 149 of the nation’s 206 metropolitan areas with a population of 200,000 or more, the metro areas with the 10 highest foreclosure rates all posted decreasing foreclosure activity from 2009 and six of the top 10 also posted decreasing foreclosure activity from 2008.
RISMEDIA, January 25, 2011—Trulia.com, a top site for home buyers, sellers and renters, released its latest Rent vs. Buy Index which found that it is more affordable to buy than to rent a two-bedroom home in 72% of America's 50 largest cities. Meanwhile, a nation of renters has emerged as more Americans rent by choice or due to unforeseen financial difficulties. In contrast to this nationwide trend, renting is only less expensive than buying in four of the cities included in this study—namely New York, Seattle, Kansas City and San Francisco. The remaining 10 cities are locations where buying may still be a financially sound long-term decision despite the relative affordability of renting.
RISMEDIA, January 22, 2011—A substantial majority of both homeowners and current renters agree that owning a home is a smart decision over the long term. That's according to the results of a National Association of REALTORS® survey of 3,793 adults conducted online by Harris Interactive.
The American Attitudes About Homeownership survey found that in today's challenging economy, 95% of owners and 72% of renters believe that over a period of several years, it makes more sense to own a home.
RISMEDIA, January 22, 2011—Nationwide housing starts declined 4.3% to a seasonally adjusted annual rate of 529,000 units in the final month of 2010, according to newly released figures by the U.S. Commerce Department. While this was the slowest pace of starts activity since October
RISMEDIA, January 21, 2011—(MCT)—Torrey Warship had never owned a home—until the mortgage foreclosure crisis. Through a federal program to renovate foreclosed homes, the public works laborer bought his first house in Waukegan, Ill., for $138,000. He moved his family out
RISMEDIA, January 20, 2011—HomeGain.com, a website to offering Web-based, free instant home values, announced that it has released the results of its nationwide home improvement and home staging Home Sale Maximizer survey.
HomeGain surveyed nearly 600 real estate professionals nationwide and configured a list of the top 10 do-it-yourself home improvements that cost under $5,000 and benefit sellers most when they sell their homes.
RISMEDIA, January 18, 2011—(MCT)—Homebuilders are thinking smaller. They've cut the average size of new houses and expect it to shrink more over the next few years. "Most builders will build smaller and lower-priced homes in 2011," said Rose Quint, a researcher with the National
RISMEDIA, January 12, 2011—While many real estate markets in 2010 experienced extraordinary highs and lows in response to tax credits, low interest rates and price swings, consumer interest in real estate remained consistent. Las Vegas and Los Angeles came in as the first and second most searched markets every month in 2010, while Orlando, San Antonio and Miami vied as the third, fourth and fifth most searched cities respectively. Phoenix, San Diego, Austin, Tampa and Chicago, in that order, held the sixth through tenth positions as the most searched markets in 2010.
RISMEDIA, January 7, 2011—(MCT)—The drumbeat from the housing community was loud and clear in 2010: There was never a better time to buy a home. For most of the past 12 months, home prices tumbled, mortgage rates ticked downward, and the inventory of available traditional and distressed homes was plentiful.
But would-be buyers, even if they were able to overcome job worries, found that the hurdles to obtain a loan were formidable. They remained on the sidelines, and housing analysts opined that if the broader economy improved and unemployment fell, pent-up demand would be unleashed, credit guidelines would ease and home sales would improve.
RISMEDIA, April 22, 2011—Trying to decide whether to do some home remodeling this year or leave your money in the bank? You can do both if you remodel with paint. “The cost of do-it-yourself interior painting is so low, it’s almost like remodeling without touching your bank account,”