According to the design industry, from 2008 to 2012, homeowners stopped purchasing furniture and remodeling their homes. Since people were worried about the uncertainty of the economy, most of them stopped spending on home decor. Also during this time, their savings and retirement accounts took substantial hits.
There are many reasons you should buy a newly constructed home instead of an older home. For example, you’ll have no guarantee of being made aware of all the problems an older home has, especially if it’s a foreclosure. In addition, a lender won’t always know if there is a specific problem or if the previous owner intentionally sabotaged something …
The housing market continues to get hot – and that is changing the game for both sellers and homebuyers. Due to the shortage of inventory, in a lot of cities, the housing market is experiencing bidding wars. And, the winning offers are often more than the asking price. According to the National Association of Realtors, existing home sales increased 13 …
The cost for home building materials has increased. The cost of materials accounts for one third of a new home’s selling price. When the costs of materials increases at 10 percent, the price increase per house is equivalent to $8,500. However, in the current conservative appraisal environment the price increases are not always possible. Two recent NAHB surveys highlight the …
Houston’s job market continues to grow, and it’s doing it at a very rapid pace. The Energy Sector in Houston is a large contributor to the job market. The Medical Center and the Port of Houston also contribute to the Houston economy. Walter Page, director of office research at Property and Portfolio Research in Boston said, “Houston is clearly a …
With all the discord associated with the Egypt and Zimmerman news cycle, the good news about the US economy has been smothered. Consumer confidence is at a six-year high. In the last quarter, approximately 200,000 new jobs a month were started. And, credit card delinquencies are at a 20-year low. The purchase of cars and houses is one driving force …
Single women have come a long way in the professional world and in homeownership. Even though home buying decreased during the recession, the ratio of single women to single men buyers has remained constant since the late 1990s, according to Walter Maloney spokesperson for the National Association of Realtors (NAR). He says that about one in five homeowners are single …
According to a report from the Dallas Federal Reserve, the steady arrival of out-of-state transplants, along with the stronger than average employment growth, should keep the housing and apartment sectors in Texas going strong. Using data from the Census Bureau, D’Ann Petersen and Christina Daly, authors of the report, stated that Texas is the number one state for domestic in-migration. …
Citigroup Inc. is required to pay $968 million to compensate the taxpayer-backed mortgage buyer, Fannie Mae, for over a decade of claims linked to faulty home loans. In a recent statement Citigroup said that the agreement includes 3.7 million mortgages originated from 2000 to 2012 that were sold to Fannie Mae. Even though payments are covered by existing reserves, Citigroup …
