Crain’s Chicago Business , one of the top business publications around, recently wrote a small story about the high number of new-construction homes that have yet to be finished. Crain’s refers to them as white elephants.
Now is a great time to be in the market for a new home, especially if you don’t have to sell an existing house first.
Sure, it’s a lousy time to be a seller — no matter what real estate agents say. But if you’re buying a home? Congratulations, you’ve picked a perfect time.
You probably know […]
Preston is secretary of the U.S. Department of Housing and Urban Development. In a recent story in the Christian Science Monitor, Preston predicted that any improvements in the U.S. housing market are a year away.
RealtyTrac, an online provider of foreclosure information, reported that foreclosure activity rose once again in August. This time, activity rose by 12 percent.
Today, though, real estate pros aren’t as quick to boast about the impact the housing industry is having on the country’s finances. Maybe that’s because the residential real estate industry is now being blamed for everything from the collapse of Lehman Brothers and Merrill Lynch to the recent bailout of insurance giant AIG.
It’s tough to sell any kind of home these days. But the condo remains a particularly tough sell, especially in cities where there happens to be a glut of available condos on the market.
Problem is, sometimes buyers will view a home’s virtual tour and see one small thing they don’t like, the agent I interviewed told me. They’ll then instantly cross that home of their list of potentials.
A new report from the American Institute of Architects found that the buyers of custom homes are now more interested in energy-saving “green” features such as extra insulation, tankless water heaters and sustainable flooring than they are in extra rooms.
The new debate in the housing industry centers on whether we’ve yet hit the bottom of the residential real estate slump. Have we seen the worst of the downturn? Or are things going to get even worse?
In Malibu, the open house guide comes with symbols: A knife and fork represent agent open houses that are serving food. A wine glass means the open house comes stocked only with beverages.
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Written by Dan Rafter [email] for b5media.
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