Category Archives: Chappaqua

A look at shifting trends in home ownership by occupation | Chappaqua NY Homes

 

The housing crisis didn’t hit all professions equally. In fact, construction workers and builders  are the only group who increased their rate of home ownership in the years after the recession, new research shows.

In an analysis of over 70 different professions before and after the recession (2007 to 2009, vs. 2010 to 2012), home ownership among construction workers rose 1 percentage point to 55.4% — the highest growth of any profession — and increased 0.7 percentage points to 65.4% among carpenters during the same period, according to real-estate website Trulia, which mined U.S. Census data for the statistics. Home ownership among electricians remained steady at 75% before and after the recession, the study found.

Construction workers did especially well, given the crash in the property market after 2008, says Susan M. Wachter, professor of real estate and finance at Wharton University of Pennsylvania. “The only sectors that saw growth are groups that have access to bargains and distressed housing and have the expertise to fix them up,” she says. Others are more perplexed by the increase among laborers, especially since they were among the hardest-hit professionals when the housing market crashed in 2008. “It’s certainly ironic,” says Don Frommeyer, president of the National Association of Mortgage Professionals, which represents mortgage brokers. Still, he says, the recovery in the housing market in 2013 should be of some consolation to those who are ready to get back on the property ladder.

 

 

Home prices spiked sharply last year in some neighborhoods | Chappaqua NY Homes

 

The median price of single-family homes sold in King County in 2013 hit $415,000, its highest in five years, as the local housing market’s recovery gained steam.

After tumbling to a seven-year low of $340,000 in 2011, the median rose 7 percent in 2012 and grew 14 percent more last year, according to data from the Northwest Multiple Listing Service. The median price means that half of homes sold for more, half for less.

But some areas in King County saw bigger spikes than others, according to a Seattle Times analysis of MLS data.

The Jovita/West Hill neighborhood in Auburn led all King County areas with a 29 percent increase in the median price, to $273,000.

Close behind, with 24 percent appreciation: Seattle’s Sodo/Beacon Hill area, also with a below-average median price of $320,000, and Bellevue’s neighborhoods west of Interstate 405, with the county’s highest median price: $1.3 million.

The smallest increases, from 3 to 6 percent, were in Central Seattle, Newcastle/Issaquah and North Seattle.

Despite the strong annual gains for homes, the median sales price for 2013 in nearly all areas of King County was still below its peak in 2007, when the housing bubble burst. But some places are close to recovering all the ground they lost.

 

http://seattletimes.com/html/businesstechnology/2022731968_homesales2013xml.html