An Insiders Guide to Attracting Chinese Homebuyers

Home Selling - Chinese Homebuyers:


Chinese buyers spent $22 billion on homes in the 12 months ended March 31. They buy more expensive houses, spending an average of close to $600,000 -- more than twice the national average. And many of those deals are done in all cash.... ow.ly/2MMJ4U

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15 Costly Mistakes in Homebuying and Selling

When it comes to buying or selling a home, what you don't know can cost you. Whether it's not doing your research or getting too emotionally involved, making the wrong choices can wind up costing you tens of thousands of dollars.

To avoid this fate, check this list of 15 costly mistakes made by both buyers and sellers.... ow.ly/2M9J90

Carlisle Mitchell Insider Tips for Real Estate Investors is a trusted and reliable source of expert investment and market analysis for real estate investors world-wide. NEW! Now follow Carlisle Mitchell Insider Tips for Real Estate Investors on Facebook and Twitter

Danforth Home with a Sub-$400K Pricetag goes Fast

CANADA: Home Sales:


Danforth home with a sub-$400K pricetag goes fast - ‘Cute, quaint’ bungalow attracts first-time buyers and... ow.ly/2LorwE

Carlisle Mitchell Insider Tips for Real Estate Investors is a trusted and reliable source of expert investment and market analysis for real estate investors world-wide. NEW! Now follow Carlisle Mitchell Insider Tips for Real Estate Investors on Facebook and Twitter

East York House Sells at a Premium in Under a Week

CANADA - Home Sales:


East York house sells at a premium in under a week - Total remodelling pays off even as market slows ow.ly/2LorwF

Carlisle Mitchell Insider Tips for Real Estate Investors is a trusted and reliable source of expert investment and market analysis for real estate investors world-wide. NEW! Now follow Carlisle Mitchell Insider Tips for Real Estate Investors on Facebook and Twitter

3 Ways to Get a Higher Selling Price on Your Home

First impressions are important, especially when it comes to selling a home. Ideally, you want prospective buyers to easily picture themselves living in the space, which means that they shouldn't see evidence of you there.

Here 3 ways to make your home appear accessible without sucking all the personality out of it at the same time. http://t.co/tIlS7bkX3N

Carlisle Mitchell Insider Tips for Real Estate Investors is a trusted and reliable source of expert investment and market analysis for real estate investors world-wide. NEW! Now follow Carlisle Mitchell Insider Tips for Real Estate Investors on Facebook and Twitter

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5 hot housing trends you'll see this summer

5 hot housing trends you'll see this summer - Will rates stay low and home prices remain stable? ow.ly/2KaWxp

Cash is King Especially in Florida

In 27 of the top 30 metros, more than one-third of all sales of the lowest-priced homes were made with cash.

In the first quarter of this year, Miami had the largest share of cash buyers in the country at nearly 65 percent of total sales, down from 71 percent in 2012. Tampa and Cleveland were close behind with 57.1 percent and 54.2 percent.

Mortgage Applications Decline for 3rd Straight Week

Applications for U.S. home mortgages dipped slightly last week as purchases declined.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 0.2 percent in the week ended June 27. It was the third straight week in which the MBA's index saw a decline.

U.S. Home Prices Rise in May but Gains Have Slowed

WASHINGTON -- U.S. home prices rose in May compared with a year earlier, but the gains have slowed.

Data provider CoreLogic (CLGX) said Tuesday that prices increased 8.8 percent in May compared with 12 months earlier. The pace of gains has slowed as more homes have come onto the market, according to CoreLogic.

On a month-to-month basis, prices rose 1.2 percent from April to May.

Prices increased the most in Western states, including Hawaii, California and Nevada.

The Short Sale Process

Short sales are purchases negotiated with the owner and lender(s) before foreclosure. Typically the purchase price negotiated is less than the balance owed on the property.

For investors, short sales represent an opportunity to buy real estate below market value and help borrowers avoid foreclosure.

Short Sale Process
Both parties consent to the short sale process, which allows them to avoid foreclosure, which involves more fees for the bank and foreclosure being reported on the borrowers credit report.

This agreement does not necessarily release the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency.

The bank or mortgage lender agrees to discount the loan balance because of an economic or financial hardship on the part of the borrower.

The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender.

For more information about short sales visit us online at Carlisle Mitchell - Real Estate Tip for Investors.

Millennials Could Drive Next U.S. Housing Boom

The Millennials who for years have lived with their parents while the economy imploded, now seem poised to move out on their own.

According to a report released Thursday by Harvard's Joint Center for Housing Studies, by 2025 Millennials could form 24 million new households and drive the U.S. real estate market.

The report also found that, the number of young people who buy homes increases as their incomes grow. The hiring of Millennials has recently improved as the economy heals. If the trend continues, these same Milennials could soon become homeowners.

U.S. Home Construction Slips in May

HOUSTON -- The pace of U.S home construction slipped in May as buyers face higher mortgage rates.

Construction firms began work on fewer single-family houses, condominiums and apartments last month.

Home construction has struggled to gain much traction this year, limiting its contribution to broader economic growth. Many potential buyers face higher mortgage rates than at this time last year, while builders are selling fewer new homes but charging more for them.

This has reduced the number of possible buyers and the number of construction jobs by 1.49 million fewer than at the start of the Recession in December 2007, a loss of about 20 percent.

In May, construction declined in the Northeast, Midwest and West. Only the South experienced greater building activity in May.

Housing starts have increased 9.4 percent during the past 12 months but apartments account for most of the gains, suggesting that more Americans will be renting instead of owning homes.

U.S. Home Sales Post Biggest Monthly Gain in 3 Years

HOUSTON -- Sales of previously owned U.S. homes posted the best monthly gain in nearly three years in May.

The National Association of Realtors reported Monday that sales of existing homes increased 4.9 percent last month to a seasonally adjusted annual rate of 4.89 million homes. The monthly gain was the fastest since August 2011.

Homes Listed For Sale Rising but Prices Remain High

After almost two years of decline, the number of homes listed for sale is finally rising. But for low-income and first-time buyers, the number of lower-priced homes for sale continues to fall in most areas as high investor activity and high negative equity conspire to keep those homes off the market.

The inventory of all for-sale homes listed on Zillow nationwide increased in May, jumping 11.8 percent year-over-year and 4.3 percent from April with inventory of all homes for sale rising in each of the past three months.

U.S. Foreclosures Hit 8 Year Low

Foreclosure activity across the United States dropped to an eight-year low in May as banks reclaimed fewer homes and foreclosure starts saw their lowest levels in years, RealtyTrac said in a report on Tuesday.

RealtyTrac, which tracks and maintains housing market data, said 109,824 properties across the country were at some stage of the foreclosure process in May. That marked a 5 percent decline from April and left foreclosure activity -- foreclosure notices, scheduled auctions and bank repossessions -- 26 percent below the year-ago level.

Carlisle Mitchell - Real Estate & Investing News

Carlisle Mitchell - Real Estate & Investing News


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U.S. Home Prices Highest in 7 Years

U.S. home prices jumped 12.2 percent in May from a year ago, the most in seven years.

Real estate data provider CoreLogic said Tuesday that home prices rose from a year ago in 48 states. They fell only in Delaware and Alabama. And all but three of the 100 largest cities reported price gains.

Prices rose 26 percent in Nevada to lead all states. It was followed by California (20.2 percent), Arizona (16.9 percent), Hawaii (16.1 percent) and Oregon (15.5 percent).

CoreLogic also says prices rose 2.6 percent in May from April, the fifteenth straight month-over-month increase.

Steady hiring and low mortgage rates have encouraged more Americans to buy homes. Greater demand, a limited number of homes for sale and fewer foreclosures have pushed prices higher. Prices are still 20 percent below the peak reached in April 2006, according to CoreLogic.

Sales of previously occupied homes topped the 5 million mark in May for the first time in 3 ½ years. And the proportion of those sales that were "distressed" was at the lowest level in more than four years for the second straight month. Distressed home sales include foreclosures and short sales. A short sale is when a home sells for less than what is owed on the mortgage.

Home sales are expected to increase in the coming months. That's because the number of people who signed contracts to buy homes rose in June to the highest level since December 2006. There's generally a one- to two-month lag between a signed contract and a completed sale.

One worry is that higher mortgage rates could slow the housing recovery. Still, rates remain low by historical standards. And increases in rates could boost home sales. That's' because many Americans may act to lock in the lower rates before they rise further.

A survey by the University of Michigan released last week found more Americans believe it is a good time to buy a home because both rates and prices are just starting to rise.

Rates have been trending higher for two months. And the average rate on a 30-year fixed mortgage leapt to 4.46 percent last week, according to mortgage buyer Freddie Mac. That's the highest in two years and a point more than a month ago.

Mortgage rates surged after Federal Reserve chairman Ben Bernanke said last month that the Fed could scale back its bond buying later this year and end it next year if the economy continued to strengthen. The bond purchases have kept long-term rates down.

Economists say that higher mortgage rates are unlikely to stifle the housing recovery. A more critical issue is whether potential buyers can get loans. There are signs that banks have become more willing to extend mortgages.

Renovate or Relocate? 5 Key Questions to Ask

With baby no. 2 on the way, Jonathan and Andrea Hildebrandt had to face an expensive reality. They needed more room.

Their home had only two bedrooms, and nowhere for their 2-year-old to play without waking up her future little brother. Moving didn't seem viable. The family loved their Queen Anne neighborhood in Seattle, and given that home prices had fallen 20% since they had bought four years earlier in 2007, they doubted they would recoup the $530,000 they paid. So they started talking seriously with builders about refinishing their basement or adding a second floor.

Those conversations came to an abrupt halt, though, when the Hildebrandts found their perfect house, a $618,000 three-bedroom just blocks away.