The nation’s homeowners paid a median of $1,000 in monthly housing costs in 2009, compared with $808 for renters, according to data released today by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. However, renters usually paid a higher percentage of their household income on these costs than did owners [...]
Posts under ‘trends’
Fluffy pillow and a goldfish: Pack a Bit of Home to Cushion the Road
By Josh Noel A few months back, while checking in at the Hotel Monaco in Salt Lake City, I was offered one strange perk at the front desk: a goldfish. I had three nights ahead of me in that small room, and the thought of coming home to a little swimming roommate made the stay [...]
`Buy and Bail’ Homeowners Get Past Loan Restrictions
Bloomberg News: Harvey Collier, a mortgage broker in Fort Lauderdale, Florida, says he gets as many as 10 calls a month from people planning to default on their loans. The twist: They first want financing to buy another home. Real estate professionals call it “buy and bail,” acquiring a new house before the buyer’s credit [...]
42,000 of California’s jobless will get help with mortgages
The U.S. Treasury Dept. announced yesterday it is providing additional funding to a California program to help homeowners struggling to make their mortgage payments due to unemployment. The program, administered through the California Housing Finance Agency (CalHFA) will assist struggling borrowers make up to six months of mortgage payments. Lenders will be asked to match [...]
Real Estate Q&A: Should Sellers Wait Out a Slow Market?
As we know, market price of a home is what someone will pay for it. When selling, it is crucial to price it right. This might be counter-intuitive, but lower prices even generate more excitment, attracting more prospective buyers to the table. Here’s an interesting perspective on the near future of the Real Estate market, [...]
Fast Facts
Calif. median home price: June 2010: $311,950 (Source: C.A.R.) Calif. highest median home price by C.A.R. region June 2010: Santa Barbara So. Coast $914,760 (Source: C.A.R.) Calif. lowest median home price by C.A.R. region June 2010: High Desert $125,620 (Source: C.A.R.) Calif. First-time Buyer Affordability Index – First quarter 2010: 66 percent (Source: C.A.R.) Mortgage [...]
Construction spending rises in June
Construction spending rose 0.1 percent in June compared with May to a seasonally adjusted annual rate of $836 billion, according to a report released Monday by the U.S. Census Bureau and the Dept. of Commerce. The June figure is 7.9 percent below the June 2009 estimate of $907.7 billion. Residential construction spending declined 0.8 percent [...]
NAR: More Credit Needed for Commercial Market
Testifying before a House panel yesterday, Jim Helsel, treasurer of the National Association of REALTORS® and commercial real estate specialist, told members that a strong commercial real estate sector is vital to millions of U.S. jobs and helps keep the national economy afloat. “As the leading advocate for private property rights, NAR believes it is [...]
