With oil and gas prices soaring, so are the profits for Houston-based ConocoPhillips, Halliburton Co. and other energy companies. People involved in these industries are making money and spending it as well. As a result, the Houston area real estate market has remained strong. The Houston Association of Realtors reports that sales of previously owned [...]
A $350-million multifamily development, which would include 1,000 units in three towers, is planned for 3.7 acres on the Near South Side. Lennar Communities of Chicago LLC plans to build three towers ranging from 34 stories to 42 stories in the 800 block of South Clark Street. Near South Side residents fear that the development [...]
Albuquerque, at the moment, can scoff at the idea of a real estate slow down. There appears to still be some sizzle in this particular market. True, prices have gone up in recent years, but in moderation. For example, mean prices appreciated no more than 5% a year between 2000 and 2004. The current median [...]
The Florida Association of Realtors is reporting that statewide, the existing-home median price rose 13 percent to $249,700 last month; a year ago, it was $221,100. Nationally, the median sales price for existing single-family homes was $217,300 in March, up 7.8% from a year earlier. Local experts believe that demand, while down, will still remain [...]
Can you guess how many licensed real estate agents there are in California? According to the California Department of Real Estate approximately 500,000. That is roughly one real estate licensee for every 52 adults. To keep up with demand, the California Department of Real Estate has had to conduct numerous “mega-exams” in which thousands of [...]
The average selling price for homes in South Salem and West Salem rose by 14 percent and 16.5 percent, respectively, from 2005 to the present. Buyers are paying an average of $248,000 for South Salem houses, and more than $271,000 for houses in West Salem. Four years ago, the going rate for both areas was [...]
Good news for the Houston real estate market. The Houston Association of Realtors is reporting that total real estate sales in the Houston market rose for the 7th straight month in April, as sales and prices for single-family homes topped records. Total property sales, including single-family homes, townhomes, multifamily homes, country homes, high-rise properties and [...]
According to a recent report released by the NAR, sales have dropped 22.2% year-over-year in Arizona, 19.2% in California, 18.2% in the District of Columbia, 15.7% in Florida and 15% in Nevada. Nationally, sales of existing homes fell 2.1% year-over-year in the first quarter. Sales in 26 states were above the levels of a year [...]
Several recent studies by Wall Street firms are finding rising delinquency rates on home mortgages. Experts believe the increase is a result of buyers being stretched financially to afford ever costlier houses, and from increased debt which has led many homeowners to tap into their home equity. Historically, mortgage delinquencies peak around three years after [...]
The Orlando Regional Realtors Association has come up with a unique way to drive home to consumers the importance of hiring a realtor to conduct their real estate transactions. Their new website called Don’t-It-Yourself is a tongue-in-cheek look at things you should not do yourself. The #1 listed item is “buy or sell your own [...]