Archives for July 2013

Real Estate Investing in Right-to-Work States

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Uncle-SamGood and plentiful jobs make good markets better for real estate investors. You’ll get little disagreement on that, as it stands to reason that where there are more jobs (and workers to fill them), you need more housing. The fallout from the recession and concurrent housing crisis means more and more of those workers are renters, as they look to rebuild their credit. And workers bringing home a regular paycheck generally can be counted on to pay the rent – on time! – and take care of the property.

Plus, where there’s a sustained need for housing, prices will appreciate more and faster.

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US Housing Market News

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US Housing Market Overview

Zillow’s second quarter Market Report, released today, show home values increased 2.4% from the first quarter of 2013 to the second quarter of 2013 to $161,100.  This quarter marks the largest annual gain since August 2006 and largest quarterly gain since the fourth quarter of 2005. On an annual basis, the Zillow Home Value Index (ZHVI) rose 5.8% from June 2012 levels.

Monthly appreciation remains strong with national home values growing by 0.9% from May. Not only did the pace of home value appreciation quicken in the second quarter, but the recovery also fully took hold nationwide. Markets in some areas of the Northeast, Midwest and Southeastern US, such as Atlanta, Chicago and St. Louis, that had previously been slow to turn the corner began to appreciate, which helped boost the overall national market. All of the top 30 largest metro areas covered experienced annual appreciation in home values as of the end of the second quarter, and all have hit their bottom.

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When Will The Next Housing Bubble Burst?

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Next Housing Crash Prediction

Home prices are up over 12 percent nationally from a year ago, and limited supplies of homes for sale continue to push that number higher. Demand is coming back, home builder sentiment is at a seven-year high and real estate agents are reporting bidding wars.

None of this means housing market is heading back to the bubble, according to economists at CoreLogic.  “The fundamentals are there right now, and the housing market is responding,” said Mark Fleming, chief economist at CoreLogic.  Even in the fastest growing markets, where prices are up around 20 percent from a year ago, Fleming pointed to still near-record affordability.

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255 Real Estate Markets Improve

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Homes and Their PotentialA total of 255 metropolitan areas across 49 states and the District of Columbia qualified to be listed on the National Association of Home Builders/First American Improving Markets Index (IMI) for July, released today. This is down slightly from the 263 metros that made the list in June, but is more than triple the number of metros that were on it in July of 2012.

The IMI identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. Six new markets were added to the list and 14 were dropped in July. Newcomers include the geographically diverse metros of Cumberland, Md.; Saginaw, Mich.; Farmington and Las Cruces, N.M.; Kingston, N.Y.; and Olympia, Wash.

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Five Home Improvements Worth the Cost

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FetchImage[1]Some home improvements have better resale value than others, just like some cars have better resale value than others. Here are some of the best home improvements:

Kitchen

People spend a lot of time in the kitchen, so upgrades in that area are both visible and valuable. It's not just aesthetics. A kitchen has many working parts, like a refrigerator with a water and ice dispenser, a built-in microwave and a double oven. But it doesn't have to be an all-or-nothing deal. If your counter top is scratched and stained, but the cabinets are still in good shape, just replace the counter top, and maybe add new cabinet hardware. And new appliances by themselves add both utility and sparkle to your kitchen. Rule of thumb: Expect to recoup about three quarters of the cost of a kitchen remodel when you resell your house.

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