Homes have gone up in price due to a limited inventory and demand. However, according to Jonathan Smoke at Realtor.com, this will change. Over the last three months , the number of listings has grown over 4.5% in the last three months; new construction is finally stepping up to the plate with single-family permits up 9% year to date. Mortgage credit availability rose 5% higher in June than in June 2014 – allowing more buyers to participate in the housing market. And even though mortgage rates are off their previous lows, “… with the average 30-year fixed-rate firmly above 4%, rates have retreated more than 10 basis points from their recent highs.” And, don’t forget, fall is on the horizon. For those who are flexible about timing and location, fall can be a good time to buy, as families with school-age children are less likely to compete after the beginning of the school year. So, things are looking up Buyers – start looking!
8,738 school districts are ranked by Best Public School Districts based on key criteria and 4.6 million opinions from 280,000 students and parents. “A high ranking indicates that the district contains great schools with exceptional teachers, sufficient resources, and a diverse set of high achieving students who rate thier experiences very highly.” Congratulations Coronado!!!
$417,000 for a luxurious home designed by Andy Ramus? Not so surprising, but…..for a couple of dogs? I kid you not. In Gloucestershire, England, the owner of two Great Danes has the world’s most expensive dog house. It features:sheepskin-lined, temperature-controlled beds, a $250,000 sound system and a 52-inch plasma TV playing The Dog Whisperer. Each dog has their own bedroom, and automatic dispensers ensure a steady supply of dry food and chilled, filtered water. “To keep out the riff-ruff, a retina scanner ensures only the two dogs can enter the front door”. Complete with dog-vision webcams so the owner can keep an eye on the dogs in the house or on their playground, it also features an 18-inch spa bath with a saline treatment to keep their coats nice and shiney. The owner prefers to remain anonymous.
Source: This Old House
Extending a multiyear decline, families struggle to re-enter the housing market. According to Kathleen M. Howley, writing for Bloomberg, “…the homeownership rate was 63.4 percent in the second quarter, down from 63.7 percent in the previous three months……The lowest reading since 1967”. Stringent mortgage standards and soaring home prices are the two main contributing factors. Although unemployment has dropped to its pre-recession rate, the average household income is still below the high set in 2008.