Read more: https://dc.urbanturf.com/articles/blog/one-in-4-sellers-received-four-or-more-offers-us-home-sells-in-2021-by-the-/18787
Read more: https://www.bloomberg.com/news/articles/2021-07-20/u-s-housing-starts-top-forecasts-increase-to-three-month-high
By: Sougata Mukherjee
Editor-in-Chief, Triangle Business Journal
Just how many times have you read stories in recent months that talk about a hot
Well, to us, that's somewhat old news. How many times are we going to write pieces on
how the average price of new homes is going up and the sale price of existing homes is
going up even further?
Yes, we know we have a supply and demand imbalance. For markets that are
dramatically experiencing massive inbound population flows such as in Raleigh, Austin,
Texas, and Nashville, Tennessee, the number of listed homes is on the decrease and the
percentage of homes sold above the listing price is going up. Coupled with adamantly
low mortgage rates, there’s no reason to believe things will change in the short run.
But what is beginning to change should offer hope to everyone looking for an
opportunity to start a new business. Are you a good handyman? Are you an electrician?
Did you go through turf management program at a technical c ...
Read the rest of entry »
Read more: https://www.wsj.com/articles/u-s-existing-home-prices-hit-record-high-in-may-11624371222
Read more: https://www.bizjournals.com/philadelphia/news/2021/05/17/la-chinesca-little-sister-restaurants-spring-arts.html
By: Bridgetower News Service
The median home sale price increased 17% year over year to $330,250—an all-time
high—according to a new report from Redfin (redfin.com). This is the largest increase
on record in this data set, which goes back through 2016.
Below are other key housing market takeaways for more than 400 U.S. metro areas
during the 4-week period ending March 14.
Asking prices of newly listed homes hit a new all-time high of $350,972, up 10% from
the same time a year ago.
Pending home sales were up 21% year over year, the smallest increase since August.
New listings of homes for sale were down 17% from a year earlier.
Active listings (the number of homes listed for sale at any point during the period) fell
42% from 2020 to a new all-time low. This is the largest decrease on record in this data,
which goes back through 2016.
57% of homes that went under contract had an accepted offer within the first two weeks
on the market, well above the 46% rate during the same ...
Read more: https://www.chestnuthilllocal.com/stories/mt-airys-souperbowl-helping-feed-areas-needy,16745
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By: Jeff Blumenthal
Reporter, Philadelphia Business Journal
Spring Garden Lending, the provider of bridge financing to local real estate developers
led by former Valley Green Bank CEO Jay Goldstein, is entering uncharted territory with
a longer term fixed rate financing product.
Called Permanent Plus, the new loans offer up to 30-year fixed rate financing for real
estate developers working on single family homes with one to four units and multifamily
homes of five to eight units. Goldstein said the loan program will most likely top out at
16 to 20 homes per project, though a borrower could take out more than one loan at the
same time. The high-water mark would most likely be around $5 million per loan.
“This allows us to leverage existing relationships with clients and offer them a new
product as well as attract new clients who hadn’t worked with us before,” Goldstein said.
Goldstein admitted that the certainty of a 30-year fixed loan comes with higher interest
rates abo ...
The author writes…”There’s really something special about Philadelphia, about the way it doesn’t care for pretense or about what anyone else thinks of it. One place I return to both in daydream and reality is Fairmount Park, behind the famed art museum, and the miles-long pathway that traces a circle around that part of the Schuylkill River. I think about the Italian Market and its small world of vendors, about the mosaics glinting in the sun, the digestible chaos of Chinatown, the essential, if flawed, sense of American history, the beautiful, dilapidated row houses that speak to the promise of equality we haven’t yet reached as a country. Spiritually, it’s my city.” Here’s the whole article: https://www.cntraveler.com/gallery/best-destinations-in-the-world-gold-list.
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