Archive of posts filed under the Economy category.

Canadians Buy Palm Springs Real Estate

If you ask most U.S. residents where they’re planning on moving when they retire, a large percentage of them will respond with “California”. This state is known to attract retirees due to the beautiful weather, beautiful homes and easy living. While many Americans might set their dreams to retire in California, they aren’t the only […]

Understanding Mortgage Credit Scores

Your credit report is separate from your credit score, though the score is developed from the report. In addition to viewing credit reports from the three major reporting bureaus, you also should obtain your FICO score. Your score is like a report card. Fair Isaac & Co. (the FICO score keeper) assigns you a number […]

Staging Your Home Helps It Sell 73% Faster, On Average

With current mortgage rates low and rent on the rise, the math has shifted for the nation’s renters. It’s more affordable to be first-time home buyer than to rent in many U.S. cities. As a result, demand for homes has been high. Home prices are up more than five percent since last year, and values have […]

Housing Demand Cooled in October, Dropping to a Three-Year Average

The Redfin Housing Demand Index, based on thousands of Redfin customers requesting home tours and writing offers, declined 3.5 percent from September to a seasonally-adjusted level of 100 in October. A level of 100 represents the historical average for the three-year period from January 2013 to December 2015, meaning that demand in October was at […]

Using technology to see inside real estate before it’s even built

Urbanist Architecture is the first architectural firm in London to employ the latest Virtual Reality (VR) technology for their clients. The firm uses VR gadgets to create awesome simulations showing home owners and property developers how their development will look like when it has been completed. By using this technology, you can see the quality […]

Snapchat Spectacles Take Video, Covers Mortgage

Snapchat’s video-recording glasses have become the must-have gadget, thanks in part to how hard it is to buy them. WSJ’s Joanna Stern put on a pair of Snapchat Spectacles to capture the new pop-up store in New York City. Photo: Peter Foley for The Wall Street Journal Hair unbrushed and breakfast uneaten, John Reuter grabbed […]

California Ranks 8th in US Healthiest Housing Market

According to a report by mortgage resource site, an annual salary of $115,510 is needed to purchase a house in San Francisco where the median home price is $682,410. The report included 25 of the nations largest metropolitan cities with Cleveland, Ohio being the cheapest with a needed salary of $19,435 to purchase a […]

Real estate adds diversification, but how should you invest?

By all measures, the real estate sector, along with the rest of the economy, is roaring again. Just look at median home prices of existing homes. In July they were $244,100, a 5.3 percent rise from the same period a year before, according to the National Association of Realtors. That, plus historically low interest rates, […]

Lagging Demand for Luxury Homes May Mean Deals for Buyers Slowing sales of high-end homes gives potential buyers more bargaining power.

A surplus of high-end homes for sale is giving more bargaining power to buyers. In the U.S., the inventory of homes priced from $500,000 to $750,000 rose 15.9% in March compared with the same period last year, according to the National Association of Realtors. The inventory of homes over $1 million rose 12.6% year over […]

Low down payment mortgages can compete in today’s market

Despite the growing prominence of low down payment mortgages, first-time homebuyers believe they need to put 20% down to compete in today’s market, but it’s not true given current market conditions, according to real estate agents across the country. Redfin conducted a survey between Sept. 15 and Sept. 18, receiving responses from 762 real estate agents […]