As an affluent neighbor of New York City, Connecticut is the east coast’s home of Mc Mansions, driven by the need for comfort and the feeling of wealth perhaps more than any other state in the eastern corridor of the U.S. But those high cost homes come with a price, and that price just might… Continue reading 2012 Connecticut Housing Market
Category: 2012 Housing Market
2012 Hawaii Housing Market
The Hawaii vacation home market is troubled by a double whammy, slower home and condo sales and a drop in the tourist industry in what is likely to be the most critical decline in real estate prices in generations. Home prices are slowly declining in most of Hawaii, once the top destination for vacationers. Maui,… Continue reading 2012 Hawaii Housing Market
Extra U.S. Tax on Homes Likely
By Mike Colpitts A U.S. tax on the sale of high end homes is likely to go into effect at the beginning of 2013 unless lawmakers do the unlikely and approve new federal tax guidelines. Bush era capital gains tax cuts expire in January, raising the long term rate on profits made from real estate… Continue reading Extra U.S. Tax on Homes Likely
Mortgage Activity Hits 3 Year High
By Mike Colpitts The lowest mortgage rates in history pushed refinancing to a three year high as consumers cashed in on lower loan payments, according to the Mortgage Bankers Association survey, which accounts for 75% of all U.S. home loan activity. The bankers’ market composite index, however, rose just 0.9% as purchase money mortgages increased… Continue reading Mortgage Activity Hits 3 Year High
Majority Won’t Purchase Vacation Homes
Despite stabilization developing in many U.S. housing markets, a large majority of respondents to a new survey say they would not consider purchasing a second home or vacation property. Some 60% of respondents to the new Housing Predictor survey said they would not take the leap of faith to purchase a second home even though… Continue reading Majority Won’t Purchase Vacation Homes
Rents Rise to Menace Market
Home and apartment rents are rising in the majority of the U.S. and are expected to sustain higher increases over coming months to menace the housing market, according to a survey of residential property managers. The new TransUnion survey found that both large and small property managers are faring better than they were a year… Continue reading Rents Rise to Menace Market
US Treasuries Send Mortgage Rates Lower
By Mike Colpitts All-time record low mortgage rates have become old news lately, but rates on conventional mortgages and most adjustable loans hit new record territory again this week as U.S. Treasuries fell. The 30-year fixed rate home loan reached an average of 3.56%, down from 3.62% just a week ago. The 15-year fixed rate… Continue reading US Treasuries Send Mortgage Rates Lower
Tight Housing Inventory Slows Recovery
By Mike Colpitts A tight inventory of homes restricted by new bank foreclosure procedures and underwater homeowners unable to sell homes slows the U.S. housing market from making a swift recovery. The limited supply of existing homes listed for sale is producing multiple offers in some cities, and sluggish sales in others. Housing inventory has… Continue reading Tight Housing Inventory Slows Recovery
5 Best Beach Vacation Home Bargain Cities
The surf meets the sand in the heat of summer. Whether this is the year to buy that beach vacation home or not is another thing. If you’reconsidering the plunge, these are the best 5 beach home bargain cities to buy a foreclosure home or condo. Foreclosure News Report ranked U.S. metro areas across the… Continue reading 5 Best Beach Vacation Home Bargain Cities
Home Prices Climb at 25 Year Clip
By Ryan Jackson Home prices increased at the fastest rate in 25 years during the spring selling season, according to real estate research firm CoreLogic. U.S. housing prices jumped an average of 1.4% during the month of June alone, the company said. The most substantial improvement in home prices has developed over the last three… Continue reading Home Prices Climb at 25 Year Clip