ATTOM Data Solutions, curator of the nation’s largest multi-sourced property database, today released its Q2 2017 U.S. Home Flipping Report, which shows that 53,638 single family homes and condos were flipped nationwide in the second quarter of 2017, a home flipping rate of 5.6 percent of all home sales during the quarter. The home flipping rate of 5.6 percent in Q2 2017 was down from 6.9 percent in the previous quarter but unchanged from a year ago.
For the report, a home flip is defined as a property that is sold in an arms-length sale for the second time within a 12-month period based on publicly recorded sales deed data collected by ATTOM Data Solutions in more than 950 counties accounting for more than 80 percent of the U.S. population.
The report also shows an average gross flipping profit of $67,516 for homes flipped in the second quarter, representing a 48.4 percent
After decades of little purpose-built rental residential construction in Toronto, the last few years have seen many developers revisit the sector, and begin building apartment towers again. While a handful of developers have opened new rental buildings over the last few years, now there are in fact several dozen developers or landowners moving rental apartment proposals through the Toronto planning process, especially as infill projects at tower-in-the-park sites.
Looking northwest to the King Portland Centre, before the latest design changes, image courtesy of Allied/RioCan
As the decreasing availability of land in the GTA has forced land prices up and made owning a single family home less affordable for large numbers of people, rental’s comparative affordability has made it more attractive again, it bringing greater demand for the product. As of this Spring however, the provincial government’s application of several measures to correct the real estate market, including a foreign buyer’s tax
Local realtors, at least the ones that talk to the Denver Metro Association of Realtor’s Market Trends Committee Chairman Steve Danyliw, agree: The housing market is turning.
“Over the last two months, I’ve personally spoken to dozens of realtors and asked them a simple question: ‘Is the housing market turning?’” Danyliw wrote in DMAR’s September report. “Over 95 percent responded with a quick YES. One responded, ‘The feeding frenzy has lessened.’”
This being a report that’s produced by realtors, people who make a living selling houses, great care has been taken to note this is not a slow down or a bubble. Maybe more like a level-off:
“Housing numbers can be presented in ways to paint many different
Affordable housing, especially naturally occurring affordable housing (or workforce housing), has been described as “critical infrastructure” — a term used by governments to describe assets that are essential for the functioning of a society and economy.
This is not overblown rhetoric; affordable housing is essential. Families need a safe and dignified place to raise children; workers need homes near job opportunities that are within their budgets; employers need a locally housed workforce so that they can grow their businesses.
Over the last two years, as the affordable housing crisis has worsened across Minnesota, and in particular in the Twin Cities metro area, a patchwork response by governments has been to consider or implement broader housing regulations. This is often a political response to vocal activists who persuade unimaginative policymakers with truly heart-wrenching stories. But the “more-regulation” housing strategy from the city of Minneapolis (and other cities) will not serve
The San Diego median home price cooled slightly in July, ending a three-month streak of record-breaking peaks.
The $537,750 median dropped nearly $6,000 from last month but still increased 8.6 percent in a year, CoreLogic reported Tuesday.
Experts attribute the high prices to a lack of homes for sale and intense demand. The relatively small reduction in home prices from last month does not have anyone thinking prices are heading south.
“I don’t see anything pushing prices back at this point,” said Mark Goldman, a finance and real estate expert at San Diego State University.
The new median home price record is still far from what the region experienced during the housing boom. When adjusted for inflation, the November 2005 peak of $517,500 equates to more than $644,000 in today’s dollars.
When broken down, all types of housing were down from peaks set the month before:
Many a cook tries their hand at duplicating foods they love in restaurants and specialty shops, telling themselves, “it can’t be that difficult.” Often times, they’re right. It can be done—and it’s pretty simple. However, sometimes, it’s not as easy as it looks.
Mexican food for example looks easy because ingredients are simple, sauces are often slow-cooked and meat is marinated, making this comfort food one of America’s favorite. Recipes are often handed down and each time they’re prepared, a spice might be tweaked or flavor added, depending on taste and preference.
OLD ORCHARD BEACH – It’s less than a two-minute walk – not even one block, in fact – from the front porch of this home to the fine sand and rolling surf of one of Maine’s best beaches, renowned for extending miles in a lovely crescent from Pine Point to Camp Ellis.
So, the buyer of this property will be making quite the lifestyle investment, and one with a key sweetener. This is a multifamily. The main house comes with a separate building that has a pair of two-bedroom, one-bath apartments, an upstairs and a downstairs unit, that were gutted and completely redone in 2014.
One could owner-occupy one dwelling, and rent the other two; rent all three; or arrange some combination of these options on a seasonal basis. Significant income will be realized in each case: $3,300 weekly for the house, and $1,250 weekly for each apartment, in high season.
There’s no question that buying a house with cash will make you feel like a million bucks. Maybe you came into a large inheritance, or you’re just really good at saving. Either way, paying the price of the home in full means you won’t have to worry about making mortgage payments. Plus, sellers love a cash offer because it means they won’t have to wait for mortgage lenders to approve your funding. High-fives all around!
You will, however, still be responsible for other costs that come with buying and owning a house. Don’t forget about these expenses you’ll have to cover, even if you plan on financing the house with cold, hard cash.
The purchase price is the biggest number you’ll have to face when buying a house, but there are still closing costs that must be dealt with, says Realtor® Denise Shur with 1:1 Realty in San Jose, CA. Sure, you won’t have those loan-related fees, but there are a grab bag