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Tuesday, 05 September 2006 |
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The ownership rate among all American households was 69.8 percent last year. The ownership rate among all minorities was just over 50 percent, compared with about 75 percent for non-Hispanic whites. But that is starting to change. According to the Harvard report, home ownership among both Hispanics and Asian-Americans jumped by nearly 10 percentage points from 1995 through last year, as both groups grow more affluent. |
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Tuesday, 05 September 2006 |
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Many Americans are adopting a wait-and-see attitude about home buying as the real estate market shows sign of softening. Thus, those in need of housing are turning to the alternative, which are rentals. |
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Tuesday, 05 September 2006 |
NEW YORK - U.S. mortgage applications fell for the first time in four weeks as demand for home purchase loans dropped to the lowest level in nearly three year. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and purchasing loans, for the week ended Aug. 25 decreased 0.9 percent to 556.5 from the previous week’s 561.5, nearly 23 percent below their year-ago level.
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Tuesday, 05 September 2006 |
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WASHINGTON - Mortgage giant Freddie Mac said Thursday that 30-year, fixed-rate mortgages dipped to 6.44 percent this week, down from 6.48 percent last week. Rates on 30-year mortgages fell for the sixth consecutive week, providing home buyers with more relief from an earlier rise in rates. |
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Monday, 04 September 2006 |
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As population continues to slump it's important to learn about how to choose a well-water property when you don't have city services. When choosing a piece of property with a well on it, the first thing you should have your buyer do is to get an independent, certified laboratory to test the water before the sale is final. |
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Monday, 04 September 2006 |
That congressional mandate, part of the Fair and Accurate Credit Transactions Act of 2003, is now the law of the land which notifies buyers whenever sellers price higher. But virtually no lenders comply with it because two federal agencies have not yet issued regulations telling them how to do it. The 2003 law directed all lenders to issue "risk-based pricing" notices to applicants whenever negative information in their credit files leads to rates or fees that are "materially less favorable" than the terms available to other applicants.
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Monday, 04 September 2006 |
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In a slow real estate market, sellers, potential buyers and real estate agents begin to think about creative financing or known as a "wrap-around" (wrap) mortgage. This works when, for instance, you want to sell your house for $500,000 and have an existing mortgage loan in the amount of $200,000, with an interest rate of 5 percent. |
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Monday, 04 September 2006 |
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Real estate practitioners who work in some of the most heavily damaged neighborhoods struggled in the aftermath of Katrina, not selling a single home in the first few months after the storm. In contrast, regions close to the affected areas saw an immediate boost in sales activity. Hurricane Katrina have devastated the Gulf Coast causing billions of dollars in damage of more than 200,000 homes along Mississippi, Louisiana and Alabama coasts. |
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Monday, 04 September 2006 |
The Internet has radically changed the way consumers buy books and airline tickets, trade stock and learn news. But the real estate industry has resisted change and protected its commission structure by controlling the information on its Multiple Listing Service database of properties for sale.
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Monday, 04 September 2006 |
Occupancy at Reckson's complexes recently hovered around 94 percent as major corporations signed leases at renewal rents up to 12.5 percent higher than older leases.
Chief Executive Officer Scott Rechler recently boasted of record leasing activity at Reckson Associates Realty Corp., a major office landlord in Westchester County and the New York metropolitan region. Investors have taken notice of the favorable trends at Reckson's 20-million-square-foot portfolio that features about 100 office and industrial properties. The company's stock is up 33 percent during the past year. |
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Monday, 04 September 2006 |
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Five years of local experience should be a prerequisite for granting a license instead of a minimum three years as stated in the Bill. Justice of Peace and Commissioner of Oaths should not be permitted to witness or give advice on legal documents in real estate matters as this should be witnessed by solicitors only, Mr Ricketts said. |
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Monday, 04 September 2006 |
Creel and company were tracking 96 bills that could have an impact on the real estate industry either directly or indirectly. Lobbyists packed the state Capitol last week, crowding corridors as they squatted near the offices of legislators, hoping to appeal to their good senses.
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Saturday, 02 September 2006 |
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The Central Bank of Nigeria (CBN), has said it was promoting the establishment of an African Finance Corporation (AFC), which will be capitalized to $2 billion. It said it would provide $500 million of the total capitalisation for the Corporation. |
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