U.S. Housing Market
NewDay USA Debuts Product That Covers Closing Costs for Veterans and Servicemembers
NewDay USA said this new product will allow veterans to “compete like cash buyers and close in as few as 15 days.” Continue Reading NewDay USA Debuts Product That Covers Closing Costs for Veterans and Servicemembers
JLL Capital Markets Secures $565 Million Construction Financing for New Miami Luxury Condo Tower
As of last month, The Residences at 1428 is 57% presold. Continue Reading JLL Capital Markets Secures $565 Million Construction Financing for New Miami Luxury Condo Tower
Hits and Misses for the Real Estate Week of June 2-6
Different strategies for financing new stadiums, problematic approaches to cutting property taxes, and a misguided attempt to generate five-star online reviews. Continue Reading Hits and Misses for the Real Estate Week of June 2-6
Philadelphia’s Historic Wanamaker Building to Undergo Office-to-Residential Conversion
Office space will be preserved on the fourth and fifth floors. Continue Reading Philadelphia’s Historic Wanamaker Building to Undergo Office-to-Residential Conversion
Las Vegas Home Sales Decline Amid Wider Listings
The median price for existing single-family homes in this market was $480,000, unchanged from one year earlier. Continue Reading Las Vegas Home Sales Decline Amid Wider Listings
Local homes sales drop as mortgage rates rise
Source: WWNYTV 7 News --- WATERTOWN, New York (WWNY) - Mortgage rates are right around 7 percent for a 30-year fixed rate. Nationally, rates are at their highest since 2006 and they’ve nearly doubled since last year. So, what is this doing to the local housing market?...
With Interest Rates at 7%, Here’s How Much More You’re Paying for a $500K House
Source: Motley Fool --- If you're in the market for a new home, you're probably well aware that mortgage rates are on the rise. In fact, they've more than doubled since the beginning of the year and are now at their highest level in nearly 15 years. Mortgage rates...
Pumping the brakes on the local housing market
Source: Yahoo! News --- Nov. 5—PENDLETON — When the time came to sell her mother's condominium, Carole Edwards was cautiously optimistic that a buyer would surface quickly. She was also aware, however, that the local housing market — mirroring several nationwide...
Mortgage rates just dipped, and home prices may be ‘reaching the peak’ — but buyers hoping for a free-fall ‘will be disappointed’
Source: Yahoo! --- After climbing above 7% for the first time in 20 years, U.S. mortgage rates moved back down this week even as the housing market continues to reel from high borrowing costs. Rates also dipped despite the Federal Reserve announcing another hike of...
How far will home prices fall? Some say 20% or more is possible
Source: Bankrate --- As the U.S. housing market continues to cool, a growing number of forecasters say homeowners could soon experience significant price declines. These analysts look at the record run-up in home prices during the COVID pandemic and say a drop of 20...
Mortgage Rates Dip Below 7% In The Wake Of Declining Buyer Demand
Source: Forbes --- Mortgage rates slipped below 7% this week, but it wasn’t enough to boost housing activity as mortgage applications continued to decline amid the Federal Reserve hiking its benchmark interest rate for the sixth time this year. The average 30-year,...
What will the Fed do next? Follow the economy, not what Jerome Powell says
Source: CNN --- New YorkCNN Business — The stock market has been on a roller coaster ride, largely because of Wall Street’s shifting expectations about whether the Federal Reserve is going to slow down the pace and size of its interest rate hikes. The Fed briefly...
Mortgage Rates Too High? (Blame the Fed, Wall Street and Your Neighbor.)
Source: The New York Times --- Mila Adams moved to Utah in May with her husband and toddler son to be closer to family, but they didn’t expect to be living with her husband’s parents nearly a half year later. The couple’s search for a home of their own became a race...
Can Utah plan its way out of its housing crisis? Here’s how it’s trying
Source: KSL News --- SALT LAKE CITY — Along with hundreds of city leaders across Utah and its Wasatch Front, Farmington Mayor Brett Anderson knows as well as anyone what haunts the debate over how in the world the rapidly growing state will confront its housing...
What’s Happening in the Affordable Housing Market
Source: Commercial Observer --- Commercial Observer recently spoke with Alvin Yeung, CPA, a managing director of tax services for CBIZ Marks Paneth, who has extensive experience in the affordable housing development market, and Gina Citrola, CPA, a CBIZ Marks Paneth...
