News About Properties

News about properties and real estate
November 6th, 2014

7 Tips For Buying a Vacation Home

Many Americans contemplating a vacation home abandoned that dream when the housing market collapsed. But now that home values have climbed month after month, with the median price up about 20% since its bottom nearly three years ago, you may once again be toying with the idea of that lakefront, ski or beach getaway place. About 13% of homes purchased last year were intended as vacation homes, up from 11% in 2012, according to the National Association of Realtors.

Yet you shouldn’t let the fact that the market has stabilized drive your buying decisions. Instead follow these seven steps to take to make sure a vacation home is right for you, and won’t turn out to be an expensive headache.

via 7 Tips For Buying a Vacation Home | Money.com.

August 19th, 2014

Landlords, house flippers find new sources of cash to buy houses

Orlando landlord Brian Lunsford needed $40,000 to renovate a house that a college student almost burned down, so he turned to an online crowdfunding site.Within two days, more than a dozen investors had each agreed to loan him an average of $2,800 for up to 13 months.

Crowdfunding is just one new financing option that has emerged in a metro area where 56 percent of all home sales were paid for with cash in May, according to RealtyTrac. Recognizing that community banks and institutional lenders are reluctant to loan money to house flippers and landlords, several companies have started offering cash to real estate entrepreneurs in the Orlando area.

via Landlords, house flippers find new sources of cash to buy houses.

July 20th, 2014

The Amazing Arithmetic of Home Ownership

A lot of people are down on home ownership these days, some for good reason.

• Young people with student debt can’t be enthusiastic because it’s too painful. Their debt takes them out as homebuyers.• Those who overreached during the bubble are still recovering. At best, they are a long way from having the trauma of being “upside-down” become nearly a bad memory. At worst, they are renting a single-family home they would once have purchased.

via The Amazing Arithmetic of Home Ownership.

June 8th, 2014

How to beat out all-cash home buyers

The rise of all-cash deals in places like Miami has made it difficult for high-end home buyers planning to use a mortgage. In response, many of these borrowers are turning to lenders able to close loans quickly or offer a range of financing options.

In Miami-Dade County, for example, 62% of all closed residential real-estate sales in 2013 had no mortgage, says the Miami Association of Realtors.

For homes priced $800,000 and above in Miami-Dade, all-cash sales accounted for 58% of the total sales in that price range. The all-cash share in that range was 27% in 2008.

via How to beat out all-cash home buyers.

May 18th, 2014

Mobile home park investors bet on older, poorer America

Sick of the cold, Una and Howard Kemper followed the warmth 1,000 miles south to a field of asphalt in the Florida pine flats, a mobile home park named CountryWood. • They bought a double-wide a third the size of their Baltimore rancher — with a manicured palm out front, like they had seen on TV — and filled it with angel figurines. That was 24 years ago. Una is 76 now, a widow on a fixed income. But this will always be her home. • “As far as I’m concerned, I’m in paradise,” she said. “When I leave I want to leave the same way (Howard) did — not going anywhere else, except straight up.”

About 1.8 million Floridians today choose to live in a mobile home, a crowd five times the size of Tampa and mostly earning less than $30,000 a year.

via Mobile home park investors bet on older, poorer America.

May 9th, 2014

Why are rich Russians so obsessed with buying up London property? | Cities

What is it about London that wealthy Russians can’t get enough of? Thanks in no small part to the crisis in Ukraine, their takeover of the London property market is growing apace.

According to the Financial Times £, well-to-do Russians – and Ukrainians too – “are trying to shift more cash into London property … amid indications that eastern European oligarchs are using the capital’s housing market to conceal their assets from international sanctions”. And this despite a recent “tax crackdown” by George Osborne, apparently.

via Why are rich Russians so obsessed with buying up London property?.

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