Monday, February 26, 2018
Lease to own: A new program for first time home buyers in Portland: In Portland's booming real estate market, bidding wars and cash buyers can make it tough for first time home buyers to compete. But, a new program is now trying to help.
Monday, February 19, 2018
Reopening Your Outdoor Kitchen: Step By Step
The Waiting is the Hardest Part
WASHINGTON (AP) - Groundbreakings on new homes jumped 9.7 percent last month to the highest level since October 2016, welcome news for a housing market struggling with a shortage of homes for sale.
The Commerce Department said Friday that housing starts came in at an annual pace of 1.33 million in January, up from 1.21 million in December and 1.24 million in January 2017. Construction of single-family homes rose 3.7 percent. Construction of apartments and condominiums shot up 19.7 percent, the most since December 2016.
Home construction soared 45.5 percent in the Northeast, rose 10.7 percent in the West and grew 9.3 percent in the South. But homebuilding dropped 10.2 percent in the Midwest.
Building permits, an indicator of future construction, rose 7.4 percent in January.
A strengthening economy has given more Americans the confidence to shop for homes. But despite last month's uptick, builders haven't been putting up homes fast enough to meet demand.
A shortage of houses on the market has driven up prices and blunted sales. Standard & Poor's reported last month that U.S. home prices rose 6.2 percent in November from a year earlier, according to its CoreLogic Case-Shiller national home price index. And sales of existing homes fell 3.6 percent in December, though sales rose slightly for the full year 2017 from 2016, according to the National Association of Realtors.
Meanwhile, mortgage rates are creeping up. The rate on the benchmark, 30-year, fixed-rate mortgage rose to 4.38 percent this week, the highest level since April 2014.
Ian Shepherdson, chief economist at Pantheon Macroeconomics, noted that apartment construction is notoriously volatile and likely would drop in February after the January surge.
Construction of single-family homes in January was "much less exciting ... the underlying story here is that housing construction is grinding slowly higher, and likely will continue to do so through mid-year at least," Shepherdson wrote in a research note. "Higher mortgage rates are likely to become a problem later in the year."
Still, builders are optimistic about the outlook for housing. The National Association of Home Builders/Wells Fargo builder sentiment index released Thursday read 72 for the second straight month in February, just shy of the 18-year high for optimism recorded in December.
Readings above 50 indicate more builders see sales conditions as good rather than poor. The index has been above 60 since September 2016.
Thursday, February 15, 2018
Mortgage Qualification Demystified
When Your Best Isn’t Good Enough: Mitigating Factors
Find the Mortgage You’re Dreaming Of…
Monday, February 12, 2018
Smart Home Devices and the Internet of Things
Is a Smart Home Worth the Risk?
Tips for Better Internet of Things Security
When Your Home’s in the Cloud
Wednesday, February 7, 2018
Will Land Prices Keep Booming in 2018?
DAILY REAL ESTATE NEWS | TUESDAY, JANUARY 30, 2018
Higher prices are behind the land boom. The U.S. dollar volume of land sales increased at a stronger pace of 4 percent from October 2016 to September 2017 compared to the prior 12-month period, according to the 2017 Land Market Survey, produced by the REALTORS® Land Institute and the National Association of REALTORS®. Sales on all types of land posted an uptick; residential and commercial land sales grew by the highest amounts.
Higher prices drove most of the increased dollar volume in land prices rather than due to higher transactions volume, the report shows.
Residential land sales increased 5 percent while commercial land sales rose 4 percent in 2017, according to the report. Sales of agricultural irrigated and non-irrigated land each increased by 2 percent, a reversal from a sales decrease in the October 2016 survey. Agricultural land sales rebounded as commodity prices for livestock, cattle, and grains stabilized after a downfall between 2012 and 2016.
The highest bulk of land sales in 2017 were of residential land at 28 percent and recreational land at 21 percent.
Respondents surveyed expect an increase in the dollar volume of land sales for all types of land to continue in 2018. The strongest pace is expected in residential and recreational land sales, both forecasted to grow by 4 percent from October 2017 to September 2018.
Monday, February 5, 2018
Thursday, February 1, 2018
What is My Debt to Income Ratio?
What’s Included in a Debt to Income Ratio?
Adding It All Up
Time to Go Apply What You’ve Learned
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