Fannie Mae Survey-70% say now is a good time to buy
September 17, 2010 by admin
Filed under Positive Real Estate
- Image by dalechumbley via Flickr
A survey by Fannie Mae shows that 70 percent of Americans believe it is a good time to buy a home. That is up from 64 percent in January 2010. Still, 33 percent–up from 30 percent in January–say they’ll rent next time around. About 67 percent believe housing is a safe investment, down from 83 percent of people questioned in a similar survey in 2003. Reuters
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Texas Hill Country Real Estate Market Remains Steady; Boosting Horseshoe Bay Home Values
September 7, 2010 by admin
Filed under Real Estate Articles
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Horseshoe Bay, TX
The real estate woes which are affecting most of the country today seem to have missed central Texas and the Hill Country. Sales in Austin and the Highland Lakes communities, including Horseshoe Bay homes for sale and Lake LBJ real estate, remain brisk and steady.
Horseshoe Bay ONE Real Estate, Inc. announces its location on 112 acres of land located in Horseshoe Bay, TX. This tract fronts on two major arteries that are currently being engineered as a mixed use development. The commercial tract is poised for significant growth in the Horseshoe Bay real estate market. The property boasts a new veterinary clinic plus a retirement development that is currently under contract.
Horseshoe Bay ONE Real Estate combines resources with Burget, Derrick & Associates to create a formidable team of experienced Horseshoe Bay agents and support crew.
According to a Forbes report based on IRS data, an increasing number of wealthy Americans are moving to Llano County Texas. This area ranked in the top four national destinations for wealthy investors seeking waterfront properties and ranches, is leading the market for smart investment choices. Texas has the forth lowest tax burden in the country and great year round weather. “Whether investors are looking to find Llano County Ranches or Horseshoe Bay lakefront homes, home buyers will experience a positive and profitable, long-term growth trend,” comments Art Snell, President of Horseshoe Bay ONE Real Estate.
Horseshoe Bay, located 35 miles west of Austin, TX, is planning for significant growth that is predicted over the next five years. The city of Horseshoe Bay is located on the shores of Lake LBJ, a constant level lake and is the home of Horseshoe Bay Resort blessed with three world class golf courses and Jack Nicklaus is building a forth slated to open in November. In addition Escondido, a private club, is located in Horseshoe Bay provides a fifth course touted as one of the finest courses in Texas.
With the increased growth seen in the local real estate market, Horseshoe Bay ONE Real Estate is on the path of progress and growth that is unique to most real estate markets in the country. Buyers are forsaking Wall Street for real estate and opportunities abound in this market. For additional information and opportunities about Texas Hill Country real estate or Horseshoe Bay TX homes, please visit www.hsbONE.com.
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Texas Land is America’s Best Buy
September 7, 2010 by admin
Filed under Positive Real Estate
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El Paso, TX
Texas Land is America’s best buy in real estate today
A recent study of land prices by SunsetRanches.com in Texas and California revealed startling price differences and reveal Texas as one of America’s greatest values in land sales.
El Paso, Texas – A recent study of land prices by SunsetRanches.com in Texas and California revealed startling price differences and reveal Texas as one of America’s greatest values in land sales. As the economic recession continues, many Americans are keen to take advantage of falling real estate prices by investing in land. Unlike stocks and paper money, land is a stable, tangible investment whose value has historically always increased with time, making it the perfect venture to ride out the present market.
Land sellers are currently offering some amazing prices for acreage, and Texas appears to be providing the best deals in terms of quality land at a low cost. For example, Sunsetranches.com, an online land retailer, is now offering 20 acres of Texas land for only $99.00 per month. These lots are surrounded by beautiful mountain views and are located only 50 minutes away from El Paso, the second safest city in the US. They also provide the perfect terrain to build on, keep cattle and horses, camp, or use your RV. The lots are close to the Interstate, school, food, gas, lodging, and a post office as well.
How does Texas land prices compare to other land prices in America? While these 20 acre Texas lots are now being offered at the low price of $12,900 with $0 down, similar 20 acre tracts of land in California are being sold for approximately $52,000. That’s almost 5 times the cost of land in Texas! With unbelievable prices and terms these Texas lots are selling quickly and now is a great time to invest in land.
About SunsetRanches.com:
SunsetRanches.com has been in business in Texas for more than 30 years. They employ a staff of trained professionals who are well versed in all facets of land acquisition, including zoning, taxes, deed restrictions and comparable properties. Sunset Ranches is a member of the BBB in good standing and has pledged to observe their high ethical standards of business practice.
Contact Information:
For more information on Texas land and the properties offered by Sunsetranches.com, visit www.sunsetranches.com
or call:
Anthony Romano
1 866 – 882 – land
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Broward Pending Home Sales Continue to Rise
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Miami, FL
Total cumulative pending home sales – including single-family homes and condominiums – in Broward County increased 17 percent in August 2010 compared to August 2009, from 6,705 to 7,845, and increased .19 percent, up from 7,830, compared to the previous month according to the MIAMI Association of REALTORS and the Southeast Florida Multiple Listing Service (SEFMLS).
Contrary to national trends, which show near-term home sales noticeably lower since the expiration of the homebuyer tax credit, the South Florida real estate market continues to strengthen, primarily due to the highest concentration in the U.S. of international buyers.
Pending condominium sales in Broward fared better than that of single-family homes. Broward County pending condominium sales in Augustwere 27.4 percent higher than they were in August 2009, up from 3,414 to 4,350, and were .625 percent higher than the previous month, up from 4,323.
“We are optimistic about signs of stability in the Broward marketplace,” said Terri Bersach, 2010 president of the Broward County Board of Governors of the MIAMI Association of REALTORS. “Buyers should take advantage of low interest rates and record affordability.”
Compared to August 2009, Broward pending sales of single-family homes rose 6.2 percent, from 3,291 to 3,495, and decreased .342 percent, down from 3,507, compared to the previous month.
International Buyers Strengthen Broward Market
Home sales in South Florida have increased dramatically since August 2008, and home prices continue to stabilize. South Florida, where an estimated 60 percent of sales involve a foreign buyer, continues to be the top area in the nation for international buying activity.
“With pristine beaches, a great quality of life and affordable pricing, Broward County continues to be a huge draw to foreign buyers,” said Natascha Tello, president-elect of the Broward County Board of Governors of the MIAMI Association of REALTORS. “These buyers are instrumental in helping to strengthen the South Florida real estate market.”
A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. Increased pending sales are an indication of increased future sales. The MIAMI Association of Realtors reports the cumulative number of pending sales.
MIAMI Association of REALTORS
The MIAMI Association of REALTORS was chartered by the National Association of Realtors in 1920 and is celebrating its 90th year of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of four organizations, the Residential Association, the Realtors Commercial Alliance, the Broward County Board of Governors, and the International Council, it represents 23,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local association in the National Association of Realtors, and has partnerships with more than 60 international organizations worldwide. MIAMI’s official website is www.miamire.com.
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Texas Land is America’s Best Buy
September 3, 2010 by admin
Filed under Positive Real Estate
- Image via Wikipedia
El Paso, TX
Texas Land is America’s best buy in real estate today
A recent study of land prices by SunsetRanches.com in Texas and California revealed startling price differences and reveal Texas as one of America’s greatest values in land sales.
El Paso, Texas – A recent study of land prices by SunsetRanches.com in Texas and California revealed startling price differences and reveal Texas as one of America’s greatest values in land sales. As the economic recession continues, many Americans are keen to take advantage of falling real estate prices by investing in land. Unlike stocks and paper money, land is a stable, tangible investment whose value has historically always increased with time, making it the perfect venture to ride out the present market.
Land sellers are currently offering some amazing prices for acreage, and Texas appears to be providing the best deals in terms of quality land at a low cost. For example, Sunsetranches.com, an online land retailer, is now offering 20 acres of Texas land for only $99.00 per month. These lots are surrounded by beautiful mountain views and are located only 50 minutes away from El Paso, the second safest city in the US. They also provide the perfect terrain to build on, keep cattle and horses, camp, or use your RV. The lots are close to the Interstate, school, food, gas, lodging, and a post office as well.
How does Texas land prices compare to other land prices in America? While these 20 acre Texas lots are now being offered at the low price of $12,900 with $0 down, similar 20 acre tracts of land in California are being sold for approximately $52,000. That’s almost 5 times the cost of land in Texas! With unbelievable prices and terms these Texas lots are selling quickly and now is a great time to invest in land.
About SunsetRanches.com:
SunsetRanches.com has been in business in Texas for more than 30 years. They employ a staff of trained professionals who are well versed in all facets of land acquisition, including zoning, taxes, deed restrictions and comparable properties. Sunset Ranches is a member of the BBB in good standing and has pledged to observe their high ethical standards of business practice.
Contact Information:
For more information on Texas land and the properties offered by Sunsetranches.com, visit www.sunsetranches.com
or call:
Anthony Romano
1 866 – 882 – land
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Miami-Dade Pending Home Sales Continue to Rise
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Miami, FL
Total pending home sales – including single-family homes and condominiums – in Miami-Dade County increased 33.7 percent in August 2010 compared to August 2009, from 7,570 to 10,119, and increased .06 percent, from 10,113 to 10,119, compared to the previous month according to the MIAMI Association of REALTORS and the Southeast Florida Multiple Listing Service (SEFMLS).
The South Florida real estate market continues to strengthen, primarily due to the highest concentration in the U.S. of international buyers, contrary to national trends, which show near-term home sales noticeably lower since the expiration of the homebuyer tax credit.
“The pending sales figures for August coupled with strengthening single-family home prices are good news for the South Florida real estate market, but there are still attractive opportunities for prospective buyers,” said Jack H. Levine, 2010 chairman of the board of the MIAMI Association of REALTORS. “Pending sales rose month-over-month and year-over-year, showing that this is still a great time to purchase a home, especially in the local market. Interest rates are at a record low and expected to remain that way for the remainder of the year while inventory is still plentiful, giving buyers many properties to choose from. Furthermore, the local market is expected to outperform other markets throughout the U.S. due to its international appeal, resulting in strengthening home values into the future.”
Pending sales of condominiums in Miami-Dade County continue to perform better than that of single-family homes. In August, condominium pending sales increased 49.7 percent compared to the previous year, from 3,848 to 5,759 and increased 0.7 percent, from 5,720 the previous month. Pending sales of single-family
homes in August increased 17.1 percent from the previous year, from 3,722 to 4,360, and decreased a slight 0.8 percent from the previous month when pending sales totaled 4,393, showing a preference for condos in August.
Pending Sales Indicative of Strengthening Market
Monthly home sales in South Florida increased dramatically for a period of 23 months since August 2008, while condominium sales continue to surge. Increased pending sales are an indication of increased future sales. A sale is listed as pending when the contract is signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
“We expect home sales to continue to increase in South Florida for the remainder of the year and headed into 2011, provided the job market continues to improve,” said Oliver Ruiz, 2010 residential president of the MIAMI Association of REALTORS. “International buyers in particular continue to positively impact the local market, creating short- and long-term demand for South Florida properties and contributing to strengthening home prices.”
MIAMI Association of REALTORS
The MIAMI Association of REALTORS was chartered by the National Association of Realtors in 1920 and is celebrating its 90th year of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of four organizations, the Residential Association, the Realtors Commercial Alliance, the Broward County Board of Governors, and the International Council, it represents more than 23,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local association in the National Association of Realtors, and has partnerships with more than 60 international organizations worldwide. MIAMI’s official website is www.miamire.com.
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31% Landlords Plan to Buy More Rentals By Year End
- Image by Getty Images via @daylife
LOS ANGELES, Aug. 31, 2010 – Almost one-third (31%) of independent landlords plan to buy additional rental property by the end of 2012, according to a survey released today by The National Association of Independent Landlords.
The top reason, cited by 68% of those planning a purchase, is that current prices make rental real estate a good investment. Other reasons include pricing low enough to allow them buy a retirement home (8%) or a vacation home (8%) that can be rented out to earn additional income until needed.
“With property prices still beaten up in many great areas – Las Vegas, Florida, Arizona and California – our members see this as a good buying opportunity and a smart way to beef up their property portfolios,” said Tracey Benson, president of The National Association of Independent Landlords. “Low interest rates are just icing.”
Most respondents (73%) say real estate is a good way to fund their retirement.
Nationally, housing prices and sales are mixed, with some areas having bottomed out and others in for further depreciation.
“It’s not like all uncertainty has been erased from the market – far from it. But buyers who do their research can find deals that really make economic sense for them,” Benson said.
The National Association of Independent Landlords polled 507 members from Aug. 24 to Aug. 26, 2010.
About The National Association of Independent Landlords The National Association of Independent Landlords is the country’s largest provider of services for small landlords. Services include credit reports, electronic rent collection and tenant screening as well as information about property management, rental laws in all 50 states and other issues critical to property owners.
For further information, please visit www.landlordassociation.com or call 1-800-352-3395.
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Miami Existing Condominium Sales Rise 43 Percent
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Miami, FL
The Miami real estate market continues to strengthen as a result of increased sales and stabilizing home prices. In the Miami MSA, there was a 43 percent increase in condominium sales in July compared to July 2009 and a 112 percent increase compared to two years ago, when homes sales began climbing, according to the MIAMI REALTORS and the Southeast Florida Multiple Listing Service (SEFMLS).
The sales of existing single-family homes in the Miami MSA dropped eight percent in July compared to July 2009 but were 51.3 percent higher than they were in July 2008. The Miami real estate market experienced rising residential sales since August 2008, posting increases for 23 consecutive months. Condominium sales continue to increase. Statewide sales increased 11 percent for condominiums and dropped 14 percent for single-family homes.
Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops decreased 27.2 percent from the previous month, and are 25.5 percent below July 2009, according to the National Association of Realtors (NAR).
The median sales price for single-family homes in the Miami metropolitan statistical area (MSA) in July increased three percent to $199,300 compared to a year ago. The median sales price for condominiums in July was $110,500 down 20 percent from a year ago. Statewide median sales prices decreased seven percent to $138,000 for single-family homes and 20 percent to $87,200 for condominiums.
“While sales of single-family homes have slowed down after nearly two years of significant increases, sales of condominiums continue to rise and at a considerable pace,” said Jack H. Levine, 2010 Chairman of the Board of the MIAMI REALTORS. “This shows that there is demand for local properties, which should result in further strengthening into the future. We are encouraged by the performance of the local market and expect continued stabilization.”
Average Home Sales Price Increases
The average sales prices, which have increased consistently over the last few months, for residential properties rose again in July for single-family homes but dropped slightly for condominiums. According to the SEFMLS, the average sales price for residential properties that sold in Miami-Dade County in July increased 8.3 percent from the previous year to $294,479 for single-family homes and decreased 5.8 percent to $212,156 for condominiums.
Days on the Market and Inventory Levels Decrease
The inventory of residential listings in Miami-Dade County according to the SEFMLS has dropped 11.4 percent from 28,956 to 25,659 since July 2009. The number of active single-family home listings is 13 percent lower compared to a year ago, while active condominium listings have dropped 11 percent. Compared to last month, the total inventory of homes increased 1.9 percent. The average days a property stays on the market decreased 10.3 percent to 100 for single-family homes and 11.9 percent to 114 for condominiums.
Nationally, total housing inventory at the end of July rose 2.5 percent from the previous month.
“Demand for local properties, including multiple bidding reminiscent of the boom during the last decade, is driving values,” said 2010 MIAMI REALTORS Residential President Oliver Ruiz. “Median and average sales prices are rising, while condominium prices are expected to follow due to the considerable increase in sales.”
MIAMI REALTORS
The MIAMI Association was chartered by the National Association of Realtors in 1920 and is celebrating its 90th year of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of four organizations, the Residential Association, the Realtors Commercial Alliance, the Broward County Board of Governors, and the International Council, it represents 23,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local association in the National Association of Realtors, and has partnerships with more than 60 international organizations worldwide. MIAMI’s official website is www.miamire.com.
Note: MIAMI REALTORS and the Southeast Florida Multiple Listing Service are the sources for statistics reported by the National Association of Realtors and Florida Realtors. MIAMI reports average sales price as well as median sales price.
CONTACT:
Lynda Fernandez, 305-468-7040 Office or 305.903.7922 Cell or
Teresa King Kinney, 305-468-7010
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Miami High-End Condos Experience a Miniboom, According to Brosda & Bentley
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North Miami Beach, FL
It is past half-time for 2010 Southeast Florida real estate sales. After a rocky 2009, how did 2010 weather so far, is the million dollar question many are asking. Prices started tumbling since September 2008 – and in certain market segments, housing values are still down significantly, but there is also good news to report as to market research provided by Brosda & Bentley Realtors. Especially for new luxury oceanfront condo developments in Sunny Isles Beach, Miami Beach and downtown Miami in particular, sales are booming and prices in some areas are on the rise.
Jade Beach condo tower, in North Miami Beach was nearly sold out during 2009, despite the dramatic economic downturn in the United States. Jade Beach resales are now strong and closed units are setting new retail sales records. Its sister tower Jade Ocean condos, is an oceanfront, ultra-luxurious glass palace, towering 50 stories above the Atlantic Ocean and reporting more than 60 percent of sold condominium units. The Acqualina Resort & condos, a landmark in Sunny Isles Beach, claim the title of highest retail sales price per square foot in the city. During the summer, two units closed at $784 and $714 per square foot respectively. The elite Turnberry Ocean Colony condos boasts six retail sales, with the highest being at $733 per square foot.
Some of the most expensive Miami penthouses sold thus far in 2010 include the Marquis penthouse in downtown Miami. It sold a few days after LeBron James announced his engagement with the Miami Heat. Entrepreneur Russell Wright closed on the 67-story Marquis luxury residential condo, with reportedly the highest terrace and hot tub in Miami. Dwayne Wade of the Miami Heat sold his house in Davie and is now apparently looking for a trophy property in Miami, as is Chris Bosh of the trio. Russell Wright is quoted as saying that the economic force of the three basketball superstars playing in Miami “Is going to have an impact, I probably already made money on the condo.”
In June, the ‘Imperial Suite’ or Penthouse Villa B sold at the über-luxurious Setai Resort & Residences in Miami Beach for a record breaking $15 million or $2,416 per square foot.
Downtown Miami condo sales were up 110 percent with 1,933 units sold in the first 6 months of 2010. Great downtown Miami condos that sell due to drastic price reductions include Met I, Epic and Icon Brickell, which sold 49 units, including at least one with a $100,000 over-the-odds premium, after LeBron James announced his switch to the Miami Heat. The average sales price of a downtown Miami condo in the first two quarters of 2010 was reportedly $356,100 or about 16 percent higher than in 2009.
In March, April and May of 2010, 135 condos sold in Miami-Dade County priced $1 million and above, nearly double the number compared to the same time period in 2009. At the beginning of the summer, impressive sales at One Bal Harbour for $8.7 million, at the Fontainebleau for $9 million and Santa Maria Brickell for $11 million kept Miami luxury real estate brokers abuzz.
A highly anticipated new oceanfront condo development is the St. Regis Resort and condo residences in Bal Harbour, destined to open in 2011. The three glass towers replaced the famous Sheraton in front of the gated entrance to the renowned Bal Harbour Shops. Over $40 million in sales were reported in the first half of 2010.
Brosda & Bentley Realtors features more than 50,000 residential and commercial Southeast Florida property listings on its website BrosdaandBentley.com. The company provides free usage of the database to registered users. Consumers may also opt to receive automatic updates on new listings, pre-foreclosure and short sale properties. Katerina Brosda, Broker and CEO of the company sold the 10 Museum Park penthouse in downtown Miami with its very own rooftop pool. “Most of our clients during 2009 and 2010 were cash buyers, not investing into Miami real estate per se, but actually pursuing to live in the homes they bought. Yes, these may still be third or fourth trophy properties, this goes especially for condos, but our clients invested heavily in upgrades, eclectic designs, electronic SMART Home features, custom fittings and furniture,” Katerina Brosda stated. Brosda & Bentley also provides a one stop, turnkey, white-glove home furnishings and design conceptualization service to its clients.
“Miami Condo sales above the $1 million mark will continue to outpace single-family home sales in the same price category for the rest of 2010 and into 2011. Condominium living is the new lifestyle choice of the wealthy,” said Katerina Brosda.
Brosda & Bentley Realtors projects luxury Miami condominium sales to remain strong. The average sales price for residential properties that sold in Miami-Dade County increased by 8.3 percent in July. Inventory levels have dropped 11.4 percent compared to July 2009. Condominium listings have dropped 11 percent and the average days a property stays on the market decreased 10.3 percent for single-family homes and 11.9 percent for condominiums or 100 and 114 days respectively.
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Lenders Cushion Loan Pricing After Spike in Refinance Demand
August 20, 2010 by admin
Filed under Positive Real Estate
- Image by wallyg via Flickr
Los Angeles, Calif. (VOCUS)
The Mortgage Bankers Association (MBA) released its results to its Weekly Survey. This survey covers over 50% of all U.S. residential mortgage loan applications taken by retail mortgage bankers, commercial banks, and thrifts. This extremely accurate data gives economists a great look into the consumer demand for mortgage loans. This trend of increasing refinance applications implies consumers are seeking out a lower monthly payment, a fairly predictable assessment. But, the long term effects of this action paint a better picture.
If these consumers are actually able to reduce their monthly mortgage payments they will increase their disposable income, or their “spending money”, giving them the opportunity to spend that spending money which would in turn revitalize the economy. This would create more consumer spending or even allow debtors to pay down personal liabilities like credit cards. This effect could spiral to astronomical proportions because as the more people spend their surplus disposable income, the better the economy gets and the lower the mortgage payments are, creating the effect all over again.
