By Mike Colpitts Household energy costs are jumping almost 3% a year in the U.S. to average $2,024 annually, according to the U.S. Energy Department. The amount it costs to heat and cool a home has been rising steadily since at least 2005, a new study by the department’s information administration shows. Energy expenses are… Continue reading Household Energy Costs Jump 3% Yearly
Category: Housing Market
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
Summer Home Sales Decline
By Ryan Jackson Despite record low mortgage rates and the lowest home prices in years, existing home sales disappointingly fell for the second straight month in June as consumers remain skittish about the U.S. economy to a seasonally adjusted rate of 4.37 million units. The usually busy summer selling season has gotten off to a… Continue reading Summer Home Sales Decline
Foreign Real Estate Buyers Drive Recovery
By Mike Colpitts Cash flush foreign real estate buyers are driving the U.S. housing market into a recovery, producing $82.5 billion in sales in the last year alone. International residential sales are gaining momentum and are divided between recent U.S. immigrants and non-resident foreigners who are buying a piece of America at deep discounts. Low… Continue reading Foreign Real Estate Buyers Drive Recovery
Home Loans Fall, Despite Record Low Rates
Mortgage applications fell for the third consecutive week, but loans for home purchases increased, indicating pent up demand is starting to show as borrowers sign-up for record low mortgage rates in the midst of the busy summer home buying season. Mortgages for home purchases rose 3%, according to the Mortgage Bankers Association survey. Refinances, however,… Continue reading Home Loans Fall, Despite Record Low Rates
Home Prices Rise 3 Straight Months
By Mike Colpitts Home prices rose for the third straight month in May across the U.S., according to real estate analytics company CoreLogic. On a year over year basis the firm said average prices rose 2.0%, and also increased 1.8% compared to a month earlier. The firm’s Housing Price Index, which tracks 100 of the… Continue reading Home Prices Rise 3 Straight Months
Foreclosure Filings Top 1-Million
By Ryan Jackson More than 1-million U.S. homes had foreclosure filings of some sort filed against them in the first half of the year ( 1,045,801), according to RealtyTrac. First half foreclosure activity increased in 20 states from a year ago, including hard hit Florida, California, Illinois, Indiana, South Carolina and upscale Connecticut. Final foreclosure… Continue reading Foreclosure Filings Top 1-Million
Building Fever Heats Up Miami
By Mike Colpitts A year of appreciating home and condominium values has sent developers scrambling to find land to build new developments on in Miami. The booming shape of real estate reality is flying high again in this picturesque waterfront city. The American Dream is alive and well in one of America’s great vacation spots.… Continue reading Building Fever Heats Up Miami
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
Home Buyer Traffic Tumbles
By Mike Colpitts Home buyer foot traffic in new housing developments tumbled in May, indicating future home sales are expected to weaken, according to the latest Campbell-Inside Mortgage Finance survey. The closely watched index fell from 51.6 in April to 44.8 in May demonstrating major weakness in new home sales are expected in coming months,… Continue reading Home Buyer Traffic Tumbles