April 2nd : Are you shopping for an investment home?
According to this NAR survey, investment home sales surged an extraordinary 64.5 percent to 1.23 million last year from 749,000 in 2010!
April 3rd: Are credit trends reversing?
FICO thinks so ! Read more on the survey conducted by FICO for the Professional Risk Manager's International Association (PRIMA ) than at any time since FICO launched its survey in early 2010. Good news for Mortgage Lenders and those ready to buy or refinance?
Contact me if you are looking for home loan suggestions to work with, I have a network in the Massachusetts area and I am sure they can refer you to someone if you are living in a different state.
Drop in nationwide foreclosures?
Foreclosure starts fell 15.2 percent month-to-month. Foreclosure sales, the final stage of the process (not sales of already bank-owned properties) fell 19 percent month-to-month, according to a new report from Lender Processing Services. More from CNBC
April 5th: Rent vs Buy ?
I found this article from Fox News to be true based on my experiences in Honolulu, Hawaii. A recent study of residential units in America's most populous 100 metropolitan areas by Trulia, a real estate website, found buying to be less expensive than renting in 98 of the areas -- with Honolulu and San Francisco the exceptions. See photo below I took from Fort DeRussey, Oahu - sunset from paradise! Does it remind you of a scene from LOST? :)
The Wall Street Journal recently found that between January 2011 and January of this year, median rents rose 3 percent, while home values fell 4.6 percent. Another survey of metropolitan areas by real estate website Zillow reported that in 2011 nearly 70 percent of cities saw rental prices increase, while home prices increased in only about 7 percent of cities. And Zillow found a 3 percent rise in rental prices nationwide.
Oh Canada, Oh Canada
The Royal LePage House Price Survey released today showed the average price of a home in Canada increased between 2.2 and 5.0 per cent in the first quarter of 2012, compared to the previous year. In the first quarter, standard two-storey homes rose 5.0 per cent year-over-year to $398,282, while detached bungalows increased 4.4 per cent to $356,306. Average prices for standard condominiums increased 2.2 per cent to $243,153. More here from Sacramento Bee
Nine-in-10 Ontario residents (90 per cent) say a house or condo is a good investment, leading other Canadian regions surveyed about confidence in real estate, according to the 19th Annual RBC Homeownership Poll. According to the survey, Ontarians are looking to buy:
- Detached house: 68 per cent (national average: 66 per cent)
- Condo/loft: eight per cent (national average: 11 per cent)
- Semi-detached house: 10 per cent (national average: 10 per cent)
- Townhouse: nine per cent (national average: eight per cent)
Have a Great Easter Weekend !
Christina Lazrak - RE/MAX Prestige
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