There are so many real estate articles out there — and so little time! For busy investors looking to take a quick reading break, look no further than our list of recommended reading for the week. From advice and investment tips to market reviews, we’re highlighting the stuff that’s really worth your time.
So sit back, and take a break. These were the 5 Must-Read Real Estate Articles of The Past Week:
By Heather Long via CNN Money
After years of flunking, the American housing market finally merits a B+ grade. Good news abounds: In August, new home sales are at their highest level since 2008. Homebuilder confidence is back to its best level in a decade and even mortgage applications are climbing again. And data released Tuesday shows construction crews are starting on homes at the fastest pace since the recession. Put all that together and the housing market is finally starting to be a real boost to the U.S. economy — and stock market — instead of a drag. But today’s real estate market is a very different place than before the recession. American home buyers are getting older and homes are getting bigger.
By Brandon Turner via Entrepreneur
Real estate is funny. Historically, it’s been one of the best ways to build wealth, yet it scares the pants off most people. Everyone has an uncle or cousin who “lost big” in one of the real-estate crashes, yet admit it: A part of you still wants to invest. The truth is, real estate can definitely be dangerous. However, with proper education, patience and a little bit of luck, big wealth can be made through real-estate investing. Oh, and one more thing helps: location. Some areas naturally do better. That’s why we at BiggerPockets.com recently put our heads down in data for months to develop an algorithm that looks at all the major markets in America in an attempt to determine what the best and worst locations have been recently for real-estate investors. We call this “The BiggerPockets Real Estate Investment Market Index.”
By Ben Zimmer via TechCrunch
The Federal Reserve values U.S. real estate at an estimated $40 trillion, making it the largest asset class in the country. So it shouldn’t surprise us that, as TechCrunch recently reported, in the last quarter of 2014, venture funding of real estate tech firms reached nearly $300 million. Venture capital firms that back the likes of Uber, Instagram and Buzzfeed are pouring money into rising tech startups. Residential listing and brokerage app Compass (formerly known as Urban Compass) was recently valued at $800 million and has lured top talent from tech giants like Google and Twitter. Redfin reinvented real estate brokerage by combining advanced technology with full-service brokers and raised $71 million in their latest round.
By Stephen Gandel via Fortune
On Tuesday, New York City announced that Stuyvesant Town was being sold for $5.3 billion. The new owners will be private equity firm Blackstone BX 1.53% and a Canadian real estate fund Ivanhoe Cambridge. Ownership of the 80-acre apartment complex had been in limbo since 2010, after previous owners real estate developer Tishman Speyer and asset management firm Blackrock, which had bought the complex in a record setting $5.4 billion deal in 2006, defaulted on a loan and ended up in foreclosure. Here’s what the latest sale of the mega property says about not only about real estate prices in New York, but also about the market for real estate deals in general.
By Victoria Stilwell via Bloomberg
Sales of previously owned U.S. homes rebounded in September to the second-highest level since February 2007, the latest sign that the recovery in residential real estate will support growth in the world’s largest economy. Closings on existing homes, which usually occur a month or two after a contract is signed, climbed 4.7 percent to a 5.55 million annualized rate, the National Association of Realtors said Thursday. The increase was entirely due to a jump in purchases of single-family dwellings. Higher property values and improved job security are helping persuade more Americans to trade up and relocate, providing a source of support for the economy amid a global slowdown. Faster new-home construction that brings additional housing supply to the market is needed to lure first-time buyers and provide a further boost to the industry.
Did you like these articles? What were your favorite articles this week?