Sunday, October 22, 2017 Latest Real Estate News
Staff Reporter
London Sunrise
Houston Wary As Oil Prices Drop Dramatically
Realtors Lower Housing Market Sales Forecast
  • Home Prices on the Rise for February
  • The largest price increase was in Portland, OR as prices rose by 11.9 percent compared to the previous year's numbers. Following close behind were Seattle, WA and Denver, CO, with 11 percent and 9.7 percent increases from the previous year respectively.
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Wells Fargo Holds Homebuyers Assistance Program
  • Credit Remains Biggest Hurdle for Millennials
  • It is acknowledged as the biggest hurdle first time homebuyers have to face in the real estate market. The stringent rules of loans and mortgage credit, as a byproduct of the recent recession, has made many millennials think twice to buy a home. According to a report from CNBC.com, while financial institutions are paying the price for their misconduct during the mortgage crisis, millennials too are paying the price.
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Miami Real Estate Continues Streak Of Monthly Sales And Price Increases
Canary Wharf Skyline seen at Night
  • Numbers of Vacant Residential Homes in Britain on the Decline
  • Alongside the decline of vacant homes is the recovery in the number of owner occupied properties in the country. At its peak in 2002, about 69.5 percent of homes were owner occupied but fell to 62.8 percent in 2014 and now stands at 62.5 percent. Between 2002 and 2014, the net decline was about 6.7 percent overall.
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Wells Fargo Holds Homebuyers Assistance Program
  • Homeownership Rates Near All Time Low
  • The previous higher was at 69.4 percent way back in 2004 when the mortgage lending was in its fast and loose phase. Nowadays, the homeownership rate is just one tenth of one basis point above the all time low in the second quarter of 2015.
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Market Reacts To Federal Reserve Interest Rate Decision
  • Higher Mortgage Rates Keep Economy Afloat
  • On a year on year basis, the current rate is lower compared to 3.68 percent at the same last year. The housing market remained steadfast while the rest of the economic factors had dipped in volume. For its part, residential construction spending, remodeling spending and other related transactions grew by 14.8 percent.
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Edinburgh Aerial Views
  • Scotland's Property Market Shows Falling Prices but Sales Are Rising
  • With these changes, the average price of a home in Scotland costs £159,198. The Registers of Scotland reported that there were 19,802 properties that changed owners in the first quarter of 2016. This was the highest volume of transactions recorded for the same period since 2007 to 2008. The total sales value was pegged at £3.15 billion, a rise of 8.3 percent from 2015.
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Diners Enjoy Breakfast In The Sky In Sydney
Aerial Views Of San Francisco
  • Luxury High Rise Grows Despite Market Glut
  • The high rise has 55 residences built on top of 16 floors of glass and steel. At its completion, the property would be the third tallest building in the San Francisco Bay area, changing the residential high-rise landscape in the region.
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General Views of United Arab Emirates
  • Dubai Maintenance Issues Reaches Flashpoint
  • These maintenance issues include broken down airconditioning units, which was the highest number of complaints as recorded by the survey. Other issues include sewage being backed up, electrical problems, thin walls and defective water heating equipment. Another major issue, especially with villa residents, were bursting water pipes, leaving the residence without running water for a period of time. The list goes on and on, not just for the residents surveyed but for many others suffering silently in Dubai.
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Developer Plans Transformative Waterfront Project In Williamsburg, Brooklyn
  • Spitzer's Skyscrapers to Dominate Brooklyn Skyline
  • The completion date was set for 2018 where 77,000 square feet of outdoor space would be available. The complex would feature two swimming pools as well as a contiguous esplanade by the East River. This continued block would be a riverside park as well as the link between Kent Avenue and the waterfront area.
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Construction In London
  • London Real Estate Feeling Effects of 'Brexit'
  • The volume of investments for the first three months of 2016 fell 31 percent below the ten year average. This is roughly worth £2.2 billion, less than half of the £4.6 billion earned in the last quarter of 2015, according to research conducted by real estate firm Lambert Smith Hampton.
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Life In Shanghai