Sales of new U.S. single-family homes jumped by over 10 percent over the month in December to a nine-month high, boosted by a shortage of previously owned houses on the market. New home sales rose 11.9 percent to a seasonally adjusted annual rate of 811,000 units last month, the highest level since March, the Commerce…
New Home Sales Surged in December, Fueled by Shortage of Previously Owned Properties
Utah, Nebraska, South Carolina Communities Top List of Best Markets for First-Time Homebuyers
January 23, 2022
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Business & EconomyhomebuyersInvestmentNebraskapersonal financereal estateSouth CarolinaUSUS NewsUS Real EstateUtah
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What do Magna, Utah, Mauldin, South Carolina, and Cottage Grove, Wisconsin have in common? All three of these unassuming communities are listed on Realtor.com’s first annual “Top 10 Best Markets for First-Time Homebuyers Report.” Magna, a Salt Lake City suburb with a population of 26,500 (2010 Census) actually snagged the number one spot on the…
Australian Property Profits up Despite Lockdowns
Australia’s real estate resilience has kept on keeping on despite the ravages of COVID-19 but can’t last indefinitely, according to a leading property data specialist. The rate of profit-making resales across Australia rose to 92.4 percent in the September quarter, up 50 basis points from the previous three months and the highest returns in a…
The 4 Critical Components of Homeowners Associations (HOAs)
Dear Monty: We are considering buying a home in a homeowners association. The agent calls it an HOA. We have heard both positive and negative reviews about the concept. Are homeowners associations a good idea? Monty’s Answer: There are many homeowners associations. Estimates vary, but the U.S. Census Bureau has published data on the number…
Australian Homeowners Profit From Sales Amid COVID-19 Lockdowns
January 18, 2022
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Australiaaustralian property marketBusiness & EconomyCoreLogiceconomyGlobal Real Estatehouse sale trendsreal estateWorld
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A new report by CoreLogic revealed the September quarter saw the highest level of profitability for property sales in more than a decade. The rate of profit-making resales across Australia rose 92.4 percent during the three months and was the fifth consecutive quarter where the rate of profit-making sales increased. The national median gain was…
China’s Real Estate Crisis Sheds Light on More Debt Problems
News Analysis China’s real estate sector defaults are now spreading to other parts of the economy, with commercial paper and local government debts set to become the next crises. Shanghai Commercial Paper Exchange reported that companies controlled by real estate developers—Shimao Group Holdings, Kaisa Group Holdings, and Greenland Group—have been “consistently overdue” on commercial paper…
Should We Offer Over List Price—and by How Much?
Dear Monty: We live in an area where it has become common to hear of bidding wars. We are ready to start looking to buy in the next couple of months. The very idea of paying more than the seller is asking grates my intuition. But we also want to buy. Is it a good…
Chaos in San Francisco Is Catalyst for New Business Helping Residents to Leave
When Tony Bennett first crooned “I Left My Heart in San Francisco” back in 1962, no one had any idea that the popular “City by the Bay” would one day become an urban center so wrought with skyrocketing home prices, crime, and homelessness that even long-time residents are now joining an ever-growing exodus. After living…
Why Your Return From Home Equity Is Always Zero
Commentary Now that holiday gifts and toys are in the past and you’ve probably stepped on your last stray Lego piece, it’s time to start thinking about financial resolutions. If you’re a homeowner, the terrific price appreciation that you’ve seen recently means there’s a good chance that you’re sitting on a nice chunk of home…
Shimao’s Default Deepens Concerns Over Cash Crunch in Chinese Real Estate Industry
January 11, 2022
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Business & Economycash crunchChinaChina Business & Economychinese developerChinese real estateCompaniesdebt defaultreal estateshimao
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The Shanghai Stock Exchange briefly suspended trading of one of Chinese property developer Shimao’s bonds on Monday, following Friday’s suspension of trading in the firm’s five other bonds due to severe declines. The trading halt came as Shimao’s unit in Shanghai defaulted on a loan after missing a payment of over $100 million last week,…
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