Phoenix File: New Real Estate Updates for July 22/11
All I ask is a chance to prove that money can’t make me happy.
U.S. Tackles Housing – The Obama administration is ramping up talks on how to revive the housing market, which is weighing on the economic recovery—and possibly the president’s re-election in 2012. Last year, advisers considered several housing-policy prescriptions but rejected them in favor of letting the market sort things out. Housing “hasn’t bottomed out as quickly as we expected,” President Barack Obama said at a White House town hall last week. Mr. Obama said housing remained the “most stubborn” problem facing the country and conceded that a raft of federal mortgage-aid programs were “not enough, and so we’re going back to the drawing board.” Read article:
Single Women a Rising Force in the Housing Market – Single women continue to make up a growing segment of home buyers and are buying homes in record numbers. Last year, they composed 20% of all buyers, while single men accounted for 12%. Single women are purchasing homes at various stages in their lives — some are new college grads and plan to one day get married while others may be divorced or just want to set up roots in their own place. Read article:
Top Remodeling Projects - Remodeling Magazine’s latest Cost Versus Value Report revealed the top 10 remodeling projects in the last year. Leading the way in cost versus value are exterior replacements, with garage doors and entry-doors at the head of the class. According to the report, “Replacement projects have always performed better in resale value than other types of remodeling projects, partly because they are among the least expensive projects in our report, and partly because they are non-discretionary improvements that contribute to curb appeal, which is a strong subjective factor among home buyers.” Read article:
Realtors’ confidence levels shoot up, survey reports – Phoenix-area real estate agents are regaining confidence in the local housing market, according to the results of a survey released Thursday. The Arizona Regional Multiple Listing Service conducts a monthly survey of active real-estate agents to gauge their confidence in the housing market. In July, the index shot upward nearly 7 points. Read article:
Homebuyers Make Lifestyle Options Priority – The adage when it comes to real estate has been “location, location, location.” A recent survey, though, shows that lifestyle options are a priority. These include health and safety, access to cultural activities, and family-friendly neighborhoods. Of course, location is still important, but today’s buyers are looking for a sense of belonging in a community as well as creating a desirable lifestyle with the home they buy. Read article: