Million Dollars Homes Selling
March 31, 2011 by admin
Filed under NAR, Positive Real Estate
Image via Wikipedia
A Russian billionaire purchased for $100 million a French chateau-style mansion in Silicon Valley. This is the highest known price paid for a single-family home in the U.S.
The purchase of the 25,500-square-foot home in Los Altos Hills, Calif., illustrates the strength of the upper end sales across the country.
The National Association of Realtors has recently reported that homes priced at or above $1 million were up 3.9 percent in February accounting 2 percent of all sales.
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Pending Home Sales Up
March 30, 2011 by admin
Filed under Pending Home Sales
The index of pending home resales increased 2.1 percent after a 2.8 percent drop the prior month, figures from the National Association of Realtors showed today in Washington.
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“Housing Bottom”:Goldman Sachs
March 18, 2011 by admin
Filed under Positive Real Estate
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The U.S. housing market is “close to the bottom,” said Jan Hatzius, chief economist at Goldman Sachs Group Inc. in New York.
“The valuation of real estate is much more reasonable now,” Hatzius said today in an interview on Bloomberg Television. “Over the next few years, the housing sector is going to improve.” For now, “there’s still a lot of excess supply out there,” he said.
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Foreclosures Drop 27%
March 15, 2011 by admin
Filed under foreclosures, new homes, Real Estate Articles
Image by Getty Images via @daylife
This is the biggest drop ever in history!
Meanwhile New home sales is driving much of the current home sales and helping to end the housing slump.
“Existing home sales produce some economic activity but it pales in comparison with new home sales,” said David Crowe, the chief economist for the national Association of Home Builders. “We calculate that for every 100,000 homes built, it creates 150,000 construction jobs but another 150,000 manufacturing jobs building refrigerators, furniture and other products.”
http://money.cnn.com/2011/03/10/real_estate/february_foreclosure_realtytrac/index.htm
