The housing market may be slowing down on a national level, but San Antonio’s housing market continues to do very well for the moment. Signs also indicate that the local market may continue to do well, at least for the immediate future. What signs? 150 to 175 new real estate agents enter the market each [...]
On average, 167,000 new families enter into foreclosure every three months. That is according to the Mortgage Bankers Association who also believe its just the tip of the iceberg. Combine $375 billion worth of loans adjusting to higher rates this year and $1 trillion resetting in 2007, with higher energy costs, higher homeowners’ insurance premiums, [...]
It’s hard to believe that just a year ago home prices for existing homes were rising at an average of 15%. Yet, within the span of one year, that average has dropped to below zero. That’s the first time since 1995. The National Association of Realtors announced that in August 2006, the national median price [...]
A recent Bloomberg News poll of economists showed a decline in existing home sales to an annual rate of 6.20 million units in August from 6.33 million in July. A decline in sales of new homes, to an annual rate of 1.04 million units in August from 1.072 million was also noted. With interest rates [...]
You may disagree as to how quickly or how far the housing market will decline, but the simple fact is that it is declining, and that is indisputable. The facts speak for themselves. In August, the number of housing starts fell 6%, down almost 20% from last year. Furthermore, the National Association of Home Builders [...]
“Condos of the Future” are not only here, but are increasing in popularity. Condos designed with smart technology are becoming more of the norm with each passing year. In South Miami, the 35-story mixed use complex, Skyline at Mary Brickell Village, is incorporating smart-building fiber-optic technology with interactive software design. The units come with a [...]
It seems like not so long ago, every one was getting into the groove of flipping houses. Some people did it for a living, a few others as a way to supplement their full-time jobs, while others did it just to keep busy while earning a little extra money for retirement. Now, with the market [...]
A MSNBC article reports that real estate commission rates are falling across the U.S. Historically, the average commission has trended around 6%; however, recent information suggests that 5% is now the norm. It doesn’t appear to end there either as more and more home sellers and buyers are negotiating commission rates. In fact, a Real [...]
Chief economist for the NAR, David Lereah, recently told a gathering of about 400 real estate agents in Saratoga Springs that the downturn in the housing market was necessary and would be temporary for the most part. He takes the position that the current downturn was a way to bring equilibrium back to a residential [...]
Recent layoffs in the auto industry have crushed the real estate market in Michigan. No where is that more evident than in an upcoming auction where over 250 bank-owned single-family homes, condos and duplexes are going to hit the auction block en masse in late September. About 150 of those 250 homes lie within a [...]