Just done reviewing the 2015 National Association of Realtors’ Profile of Home Buying Activity of International Clients. There are definitely a few interesting statistics in there. For example, while the number of units sold international slightly declined, the average purchase price was up — and at $499,600, if you’re a real estate agent who wants to up his average price, you may want to target foreign buyers. Also, for the first time, Chinese buyers surpassed Canadians, purchasing $28.6 billion worth of property.
Archives for August 2015
Property taxes aren’t the purview of the Feds; however, the FHA opposed plans to make solar power tax deductible because tax assessments take precedence over mortgages in the event of a default, there was general opposition to so called PACE (Property Assessed Clean Energy) programs from Fannie and Freddie in light of the 2007 recession. Now, that’s changing. The FHA just released guidelines that will enable the program pioneered in Berkley, CA, to be made available nationwide.
Bill Greiner makes a fairly convincing argument in Forbes that the housing market will be driving real GDP growth upwards of 3% over the next 18 months. He distinguishes between existing home sales and new home sales, and gives an explanation of key factors: employment, confidence, affordability, alternatives, and tax impact. Additionally, he looks at the comparative value of owning vs. renting, and comes up with some compelling and surprising numbers (at least at the national-average level).