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 Barry Petersen via CBS News
While the stock market is in turmoil, the housing market is booming. The Commerce Department reported Tuesday that sales of new homes last month were 25 percent higher than July of last year. Call Josh Franco a frustrated house hunter. He’s spent three months looking — and losing out to faster-moving buyers. A $660,000, five-bedroom home in a Denver suburb just hit the market. So will Franco act fast this time? “Today would be a day I would put in an offer on this house, 100 percent,” Franco said. And a hot housing market means higher prices. Sizzling Denver topped the U.S. with a 10.2 percent year-over-year price increase, followed by San Francisco at 9.5 percent and Dallas at 8.2 percent.
By Alby Gallun via Crain’s Chicago Business
It’s official: Seven years after the real estate crash, banks have completely cleaned up the mess it created here. The delinquency rate for bank loans secured by income-producing real estate in the Chicago area fell to 1.8 percent in the second quarter, down from 2.2 percent in the first quarter and 4 percent a year earlier, according to Trepp, a New York-based research firm. The delinquency rate, which peaked at 7.7 percent in 2011, is now within striking distance of its lowest point during the last boom, 1.4 percent in 2006. “We’re essentially fully recovered,” said Trepp Managing Director Matthew Anderson, who is based in Oakland, Calif.
By Daniel Goldstein via Market Watch
When it comes to the volatility of the stock market, you may lose your shirt, but you probably won’t lose your home. That’s because real estate tends to be a life raft for investors seeking safety amid volatility when equity markets are expected to turn south. “Real estate is Americans’ preferred investment for money that they won’t need for at least 10 years and that hasn’t changed,” said Greg McBride, chief financial analyst with New York-based Bankrate.com. “Nervous investors always look to real estate rather than shy away from it in times of volatility.” But a repeat of the 2009 real estate crash that followed the 2008 rout of the equities market is more unlikely this time.
By Cory Weinberg via The San Francisco Business Times
When Bay Area real estate developers get residential highrises or open-floor offices out of the ground at the right time in the economic cycle, they make a killing. If their timing is off, they risk never getting out of the ground at all. That’s why – about four years into this real estate boom – there’s a growing sense that the good times are teetering. A few big, fat caveats: No one appears to be panicking, even though market bubbles are tricky to predict. The recent stock market slide also has uncertain implications for real estate. The turmoil likely means the Federal Reserve won’t hike interest rates in the coming months (good for real estate). But it could be a scary omen for the overall economy, and force companies to be more cautious about adding space (bad for real estate).
Via Realty Today
Prices of luxury real estate in Russia have suffered a great slump, its major daily, The Moscow Times, reported recently. Since the last economic crisis that hit Russia way back in the year 2008, prices for such properties have increased by only 30.2 percent on the average, according to Knight Frank. This, so far was the highest in the world and the highest in Europe, except for London, as discovered by the real estate firm. From the start of the present year, the sale of apartments at the newly constructed buildings in the most prestigious Ostozhenka district, have remained zero. This signifies a sharp decline in the overall market sales, according to IntermarkSavills real estate firm, in a statement released earlier.
Did you like these articles? What were your favorite articles this week?