US Housing Market Continues Move into ‘Buy Territory‘! According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment. The BH&J Index is a quarterly report that attempts to answer the question:
In today’s housing market, is it better to rent or buy a home?
The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers “measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property and investing in a portfolio of stocks and bonds.”
US Housing Market Continues Move into ‘Buy Territory’!
While most of the metropolitan markets examined moved further into buy territory (15 of the 23), markets like Dallas, Denver, and Houston are currently deep into rent territory. In these three markets, it is estimated that renting will top homeownership 7 out of 10 times. Due to a lack of inventory, the home prices in the Dallas, Denver, and Houston, areas have increased by 13%, 11.4%, and 7.3% respectively. Home prices in these areas will begin to return to more normal levels once residents realize that renting is not the best option, therefore bringing home affordability back as well.
Bottom Line
The majority of the country is strongly in buy territory. Buying a home makes sense socially and financially, as rents are predicted to increase substantially in the next year. Protect yourself from rising rents by locking in your housing cost with a mortgage payment now. To Find Out More About the Study: The BH&J Index and other FAU real estate activities are sponsored by Investments Limited of Boca Raton. The BH&J Index is published quarterly and is available online at http://business.fau.edu/
Reese Witherspoon Selling Ojai, CA Spread…$10 Million and it’s Yours
Reese Witherspoon’s Ojai retreat has hit the market for $10 million. The horse property was not only a getaway for Witherspoon and her family, but also a rumored escape for actor Robert Pattinson. According to reports, Pattinson headed to...
5 Mistakes Home Sellers Make!
This article is offered up by Zillow and a good article at that! After years of dead open houses, price reduction after price reduction and failed attempts to sell homes, many real estate markets are picking up. This could be welcome news to someone who has been...
NBC News Reports Short Sales on the Rise in California
Here's some scary stuff from NBC The pace of completed home foreclosures slowed a bit in August nationwide, as banks increasingly turned to so-called short sales to avoid the lengthy process of seizing, maintaining and selling properties. The pace of home seizures...
Johnny Depp is a Good guy!
When it comes to breakups and sharing the treasure, Johnny Depp is no pirate. According to the New York Daily News, the 49-year-old Depp has made real good on his good-guy image by purchasing a Hollywood Hills home for his former partner, Vanessa Paradis. The “Pirates...
Ever Wonder Where Romney and Obama Vacation?
Life on the presidential campaign trail, in a word, is stressful. After weeks of kissing babies’ heads, shaking hands and staying one step ahead of the opponent, it’s no wonder that both candidates have some favored vacation spots. As Mitt Romney and President Barack...
Matthew Perry Selling Contemporary in Los Angeles…Stunning!
Quite possibly, the most elegant contemporary home in Los Angeles. Matthew Perry is no stranger to the ins and outs of the real estate market. Just last year, the former “Friends” star bought a new Sunset Strip home, and in the meantime listed two properties: a condo...
Matthew Perry Selling Contemporary Home in Los Angeles…Stunning!
Quite possibly, the most elegant contemporary home in Los Angeles. Matthew Perry is no stranger to the ins and outs of the real estate market. Just last year, the former “Friends” star bought a new Sunset Strip home, and in the meantime listed two properties: a condo...
Zillow Releases the 5 Biggest “Turnoffs” For Home Buyers When Showing Homes
5 Biggest Turnoffs When Touring a Home A real estate agent’s job entails more than assisting clients with the nitty-gritty details of buying or selling a home. Good agents also tour as many homes as possible. Knowing the local inventory gives them an edge over the...
Short Sales Overtake Foreclosures in 1st Half of 2012; However Processing Time Increases
Great Story by Mortgage Daily News.com . What does it mean? Obviously the amount of defaulted homeowners (Homeowners that are more than 30 days late on their mortgage payments) has not decreased...however, there are less REO or foreclosed homes on the market than...
Comedian and Tour de France Mega Fan Robin Williams Selling NAPA Chateau
When it comes to big-time personality, comedian and actor Robin Williams has that in spades. So it makes sense that a man of such enduring talent would also possess a home on the Napa, CA real estate market of equal scale. But maybe Williams is entering a newer, more...
California: Own a Vacant Home…Keep it Clean and Green or Face $1,000.00 Fine Per Day!
New law from Governor Brown...Part of the California Homeowner Bill of Rights California Gov. Jerry Brown signed a bill Monday forcing owners of foreclosed and vacant homes to maintain the property or face up to a $1,000 fine per day of violation. The bill,...
Open House…Please Don’t Ask!
Posted by Craig Proctor I'm reposting this blog from Craig Procter. Makes sense to me. Open houses have always been such an epic waste of time. Homeowners that want open houses, I simply tell them no. If they demand them...I say sure...it will cost you $1,200 for...
Merriam-Webster adds “Underwater” to the Dictionary…How about Short Sales?
It may not be as sexy a term as “earworm,” “mash-up,” “man cave” or, well, “sexting,”but one of the words just added to the newest edition of the Merriam-Webster Collegiate Dictionary speaks volumes about the impact of the financial crisis, especially when it comes to...
Changes Just Announced for Fannie Mae and Freddie Mac Short Sales
Over the course of the past year and a half, C.A.R. has been working vigorously to address your concerns related to short sale transactions. As a direct result of our efforts, we have made significant improvements through discussions with legislators, housing...
Fannie Mae Says Housing Sales are up in June 2012…More Short Sales to Come
Housing Sales are up as expected for the traditional summer months. With Foreclosures down, Short sales are helping this rise in sales. The national economic outlook looks less robust going into the second half although modest growth is still expected, Fannie Mae said...
California Homeowners Bill of Rights Leaves Room for More Short Sales
Governor Brown signing the Bill of Rights protects homeowners from foreclosure if they have an approval from their lender for a Short Sale. In the past, this was a conundrum for homeowners planning to successfully short sell their home however, the mortgage company...
Bank of America Increases Homeowner Incentives to Short Sale
Here is an excerpt from todays notification... Short Sell and you could get up to $30,000 from Bank of America Short Sale Relocation Assistance Program: Your clients could receive $5,000 to $30,000 in relocation assistance Your financially distressed clients...
California…”Dual Tracking” the Foreclosure Process with Loan Mods and Short Sales is Illegal
Governor Brown Passes massive Foreclosure reform California Homeowners Bill of Rights making it illegal to "dual track" a homeowner that is "actively seeking and engaged " in "foreclosure prevention" (Loan Mod, Short Sale, Deed in Lieu) while, at the same time,...