3 ways the coming rate hikes can sink the housing market | 2014-01-13 | HousingWire.
3 ways the coming rate hikes can sink the housing market | Mt Kisco NY Homes
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Vine Web Profiles: This Week in Social Media | Mt Kisco Realtor
The 24 Tiniest Homes on Earth | Mt Kisco NY Homes
Colorado agent launches marijuana-friendly marketing campaign | Mt Kisco Real Estate
On Jan. 1, Bob Costello, an agent with the Brokers Guild brokerage in Denver, launched his “420 Friendly Realty Broker” campaign to capitalize on Colorado’s new 2014 law that allows adults over the age of 21 to purchase recreational marijuana legally in the state.
“I’ve had about 30 calls about this, and for a real estate broker, it’s great — you want a lot of leads,” Costello told the Huffington Post.
Costello offers prospective clients who might want to grow pot insight into what type of homes they should be looking for.
“First of all, you want to be in a marijuana-friendly city like Denver, Edgewater, Wheat Ridge or Pueblo,” Costello told the Post. “You probably also want to get a house that’s not too close to a school, maybe not too close to something controversial.”
Source: Huffington Post
– See more at: http://www.inman.com/wire/colorado-agents-2014-marijuana-friendly-marketing-campaign-seeing-early-returns/?utm_source=20140110&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.CVrTCTBy.dpuf
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U.K. Home Prices Cap Best Year Since 2006 as Mortgages Surge | Mt Kisco NY Homes
U.K. house prices rose and mortgage lending surged more than forecast as the property market’s momentum continued to build at the end of 2013.
Nationwide Building Society said home values increased 1.4 percent in December, taking their gain last year to 8.4 percent, the biggest annual increase since 2006. Separate reports in London showed mortgage approvals are now at the highest in almost six years and growth in construction is being led by homebuilding.
The housing revival, fueled by an improving economy and government measures, has prompted a response from the Bank of England. It ended incentives on mortgage lending in a credit-boosting program and will focus on corporate credit. The need for such a move was highlighted today by data showing business lending fell the most in at least 18 months in November.
“Surveys consistently show markedly rising buyer interest and strengthening activity so house prices look set to see further strong increases,” said Howard Archer, chief U.K. economist at IHS Global Insight in London. The decision “to end Funding for Lending support for lending to households looks a highly sensible decision, although in itself it is unlikely to act as a major brake on housing market activity.”
Photographer: Simon Dawson/Bloomberg
Balconies sit on the exterior of white stucco residential terrace properties on Eaton… Read More
In contrast to the increase in home loans, the BOE data showed that business lending fell 4.7 billion pounds ($7.7 billion) in November, the biggest drop since the data series began in May 2011. Lending to manufacturers has fallen 3.1 percent in the past year.
Home-loan Surge
Home-loan approvals rose to 70,758 in November, the most since January 2008, compared with 68,029 in October, the Bank of England said today. The median forecast of 15 economists in a Bloomberg News survey was for 69,700 approvals. Mortgage lending increased 910 million pounds.
“A large part of the pickup in the housing market can be attributed to further improvements in the labor market and the brighter economic outlook,” said Robert Gardner, chief economist at Nationwide. “Policy measures also played an important supporting role.”
Gardner also said “ultra-low” borrowing costs were fueling demand for property.
The BOE’s Monetary Policy Committee has pledged to keep its key interest rate at a record-low 0.5 percent until unemployment, now at 7.4 percent, falls to 7 percent. The MPC will leave the rate unchanged when it announces its next policy decision on Jan. 9, according to a Bloomberg News survey.
http://www.bloomberg.com/news/2014-01-03/u-k-house-prices-rise-as-property-caps-best-year-since-2006.html
Migrants buying after Spanish real estate market bottoms out | Mt Kisco Real Estate
Buyer confidence is now returning to Spain via emigrants’ purchase of Spanish property at rock-bottom prices.
Recent house price data released by major real estate agents in Spain indicated that, in the most popular areas, prices have bottomed out and are attracting migrant buyers as a result. Russian and Far Eastern buyers are picking up bargains and the British and Scandinavians are re-entering the market.
There’s much to attract those wishing to emigrate, with prices in the Costa Brava, Marbella and Barcelona, recently down by up to 50 per cent on pre-crash prices, now showing a slight recovery due to renewed interest from overseas. The luxury market is faring best, particularly in beachside destinations such as Ibiza and Mallorca.
Buyers’ demographics are also changing, with increasing numbers of younger people in the 30-40 age group and fewer retirees being noted. Indian, American and Chinese investors are showing the most interest in the popular areas.
According to real estate agents, sellers are still open to price negotiation even although the best properties as regards location and amenities are listed at around 30 per cent below their true value. The Spanish government’s recently announced scheme to give residency to non-EU nationals purchasing a home for over €160,000 would seem to have kick-started the country’s ailing property market.
– See more at: http://www.emigrate.co.uk/news/20140102-8412_spanish-property-now-attractive-to-migrants#sthash.f3MLCa6e.dpuf
October housing price data show ‘boom is fading’ | Mt Kisco Homes
Dubai property prices show annual rise of 22.4% | Mt Kisco Real Estate
Property prices in Dubai have risen by more than 22 percent so far this year, according to the REIDIN.com Sales Price Indices.
The index, which aims to measure the average change in house prices in certain districts and communities in Dubai, showed real estate values in Dubai rose 2.44 percent in November compared to the previous month.
On an annual basis, REIDIN said prices have increased 22.4 percent.
Apartment sales prices registered an increase in November of 2.90 percent month-on-month and were up by 24.5 percent on an annual basis, the index showed.
http://www.arabianbusiness.com/dubai-property-prices-show-annual-rise-of-22-4–532866.html