Home Prices An encouraging lift-off in existing-home sales amidst ongoing inventory shortages kept home prices rising in most of the country during the third quarter, but overall price appreciation slowed to a healthier pace, according to the latest quarterly report by the National Association of Realtors®(NAR). The median existing single-family home price increased in 87 percent of measured markets, with 154 out of 178 metropolitan statistical areas (MSAs) showing gains based on closings in … [Read more...]
Americans Believe Buying a Home is a Sound Investment
The American Dream A vast majority of Americans believe that buying a home is a solid financial decision, and most believe they could sell their home for at least its initial purchase price, according to a new survey from the National Association of Realtors®. The 2015 National Housing Pulse Survey also found that a preponderance of Americans think that now is a good time to buy a home. The survey, which measures consumers' attitudes and concerns about housing issues in the nation's 50 … [Read more...]
Southwest Florida Buyers Paying Cash
Home buyers in Southwest Florida are still paying with cash at one of the fastest rates in the nation. Of the 10 metro areas with the highest share of cash purchases in the first quarter of 2015, more than half were in Florida, according to real estate analyst Zillow. Florida Buyers Paying Cash "In Florida, cash is king," Zillow said. "At the end of the first quarter, seven of the top 10 metros with the highest share of home purchases made in cash were in Florida, up from six at … [Read more...]
Florida Consumer Advocate Questions Citizens’ Rate Hike
TALLAHASSEE, Fla. – Sept. 3, 2015 – Florida's new insurance consumer advocate wants Insurance Commissioner Kevin McCarty to "strongly consider" the large amount of reinsurance purchased by the state-backed Citizens Property Insurance – and to do it before the Florida-owned firm makes a decision about its requested 3.2 percent rate hike. Consumer advocate Sha'Ron James also asked McCarty in a letter Monday to review Citizens' debt financing and water-loss claims before setting rates for … [Read more...]
Retirees Choosing to Up-size
Up-Sizing for Retirement NEW YORK – Aug. 3, 2015 – Americans traditionally chose to downsize in retirement, but that may no longer be true. A wave of today's retirees have decided to up-size and enjoy the best home of their lives in retirement, according to a recent Merrill Lynch and Age Wave retirement study of more than 3,600 respondents. In fact, 65 percent of retirees recently surveyed say they're currently living in the best home of their lives. Within the next decade, the number of … [Read more...]
Getting a Large Home Loan Just Got a Little Easier
Large Home Loan Chase bank is easing the lending requirements for its jumbo mortgages, which tend to be loans in excess of $417,000 in many markets and $625,500 in more expensive areas. A potential buyer now only needs a credit score of 680 and a 15% down payment to qualify for a maximum loan amount of $3 million for a primary-residence home. Borrowers used to need a 740 score and put 20% down. By easing its standards, the bank is hoping to gain more customers. "The performance we had on … [Read more...]
Existing Home Sales Explode
Existing home sales explode as spring home buying season officially arrives Surges to highest level in 18 months Existing-homes sales surged to their highest annual rate in 18 months, showing a promising beginning to the spring home buying season, the latest report from the National Association of Realtors® (NAR) said. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, jumped 6.1% to a seasonally adjusted annual … [Read more...]
U.S. luxury investors to buy big in 2015
With Luxury Home Buyers looking to Purchase in 2015...Useppa Island is the perfect place to escape. Luxury investors to buy big in 2015 : NEW YORK – Oct. 6, 2014 – The market for U.S. luxury homes will maintain its momentum next year, according to a Coldwell Banker poll of individuals with a net worth of $5 million or greater. Nearly half – 48 percent – reported plans to purchase a luxury property within the next 12 months. The bulk of activity is expected from Millennials: About 81 percent … [Read more...]