Finance & Mortgage
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Canada’s House Prices Keep Soaring; First-Time Homebuyers Acquire With Friends
EDITOR'S PICKS
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Gov. Gavin Newsom Expedites Temporary Housing For Residents In Areas Struck By LA Wildfires
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Pasadena Native Lost Her House To LA Wildfires One Day After Paying Off Her Mortgage: 'It's Gone'
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How The Mircale Malibu Mansion And Pacific Palisades Home Survived The Devastating LA Fires
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What Happens To Your Mortgage And Property Tax When You Lose Your Home In A Natural Disaster?
Getting a higher home appraisal is a must if you wish to refinance the mortgage on your home and hopefully, secure better loan options and payments later on. While the appraisal would depend solely on the appraiser, there are ways you can do to ensure you can get higher home appraisals. Loophole Provides Savings for Wealthy Property Buyers
The current tax imposable on transfers on real property is pegged at one percent for the first $200,000. The rate increases to two percent when the property is worth $2 million and anything over that is taxed at three percent. Many first time buyers are exempt from this tax. With this tax alone, a projected $1.5 billion in revenues are expected to be collected between 2015 and 2016 alone. Hot Summer Good for Real Estate Purchases
There are many reasons why spring is busy for real estate. One of the reasons is that homes look better during spring. This causes listings to expand and increase available inventory. Alongside this is the increase of potential buyers interested in purchasing a home at this period. With these two factors, home prices naturally would increase as demand increases. Largest Ghost City in China at 90 Percent
With previous articles showing that Ordos Kangbashi as the "largest ghost city in China", recent reports have started to dispute the assertion. Recent government announcements said that the city is at 90 percent occupancy. Rents in London Set to Surpass £2,000
As of the moment, the average rental cost is at £1,867 per month. This was 2 percent higher from prices at the start of 2015 as observed by real estate agent Portico's London Rental Market Report. In the said report, based on its historical data, two bedroom homes would reach £2,008 per calendar month by the time September comes around. Spring 2016 Draws More Home Buyers, More Money
Spring 2016 comes with a 5.1% increase in the sales of existing homes against the newly built residences in March from the previous month’s 1.5% from a similar period last year. The buyers closed on a total of 5.33 million of townhouses, single-family homes, condominiums and co-ops last month based on the seasonally adjusted figures in a recent report. UK Home Sales, Mortgage Lending More Than Doubled Ahead of Stamp Duty
Real estate market activities in the United Kingdom have surged as many buyers and sellers tried to beat the stamp duty implementation. Both sales and mortgage lending figures rose more than twice in March compared to a year ago. Home Sales Volume Above Expectations
The reported volume for March was higher than February's annualized rate of 5.07 million. Previously, projected sales forecast was pegged at 3.5 percent or a volume of 5.30 million units for March. As reported, sales increased by 1.5 percent from last year's volume. Digitization Revolutionizing Real Estate Market
With the digital age overtaking many established markets, only time will tell until it reaches and dominates the real estate market. The main problem is, according to a report from CNBC, government agencies and established companies are too slow to adjust to the changing times. Earth Day Influences Future Home Designs
The major obstacle to going green is the cost. The Forbes report, quoting CrediFi, estimated that an additional 10 percent to 30 percent cost would be shouldered by the developer.
