APARTMENT RENTS UP UP UP Well it is happening. Just as it does nearly every time. When the housing market slumps and money for housing purchases is scarce, the demand for multi-family rental units increases. With that increase in demand the rents rise and vacancy rates fall. People who would like to purchase homes simply can’t get qualified. There are a great deal of foreclosures to be purchased but a large percentage of would be buyers simply can’t get the money to make the purchase. They have very […]
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PLACES WHERE HOUSING IS HOT
November 21, 2007 in RESIDENTIAL R.E.
PLACES WHERE HOUSING IS HOT Forbes reported yesterday on 10 markets where housing is hot and where the “bubbleâ€? effect hasnot been felt significantly. The list with annual price increases through the second quarter of 2007includes:  Salt Lake City, UT    +21%  Binghamton, NY    +20%  Salem, OR     +17%  Farmington, NM    +14%  Allentown-Bethlehem-Easton, PA-NJ +13%  Beaumont-Port Arthur, TX   +12%  Reading, PA     +11%  Glens Falls, NY    +11%  Spokane, WA    +10%  Cumberland, MD-WV   + 9% The author suggests several reasons for these markets performing differently than many other areasof the country. One is that these markets avoided the “get-rich real estate frenzy of recent […]
ON THE RISE…. WOMEN INVESTORS
November 10, 2007 in General R.E., RESIDENTIAL R.E.
(WOMEN) Investor’s on the rise That’s right Female investor’s numbers are on the rise! In fact the amount of Single Women are buying homes at twice the rate as single men. They have more disposable income then single men and are becoming more and more savvy to business in general and to investing to be specific. Since 1993 Percentage of Women purchasing investment properties stayed steady on a yearly basis at around 16% . This last year it jumped to 22%, the largest gain since we started keeping […]
BANK OF AMERICA TO STOP USING LOAN BROKERS
November 5, 2007 in RESIDENTIAL R.E.
The Bank of America announced on October 29th that it will stop using loan brokers to originate home loans starting the first of 2008. It is expected that some other large banks may follow suit in coming months. B of A stated that this move will allow it to expand its retail lending channels including its own banking centers and loan officers. Mortgage brokers have historically been involved in about 25% or the loans that the B of A originates. Some other large banks including Washington Mutual and Wells Fargo […]