WASHINGTON (AP) — The number of Americans who signed contracts to buy homes fell for the eighth straight month in February, a sign of slow real estate sales over the next few months.
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WASHINGTON (AP) — The number of Americans who signed contracts to buy homes fell for the eighth straight month in February, a sign of slow real estate sales over the next few months.
Read more: http://tinyurl.com/knxp897
In the rush to get in on the bargains of the housing crash, first-time home buyers were largely left out. Investors swarmed the most distressed markets, spreading their cash like fertilizer and pushing home prices up far faster than most expected. In less distressed markets, first-time buyers were still hampered, as the pendulum swung hard from loose lending to too-tight credit.
Read more: http://www.cnbc.com/id/101530903
Briar Hill in Calgary’s northwest is one of many neighbourhoods undergoing big changes as large houses, otherwise known as “monster” homes, replace bungalows.
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Housing contributes greatly to the Calgary economy, says the Canadian Real Estate Association’s (CREA) February report.
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It would have been easy to blame February’s continued feeble home sales on the weather, but Realtors seemed more taken with weak affordability and the lack of new households being formed. Sales were down 7.1 percent from a year ago to the slowest pace in 18 months.
Read more: http://www.cnbc.com/id/101511116
Average sales for single-family homes in St. Albert grew by 12.5 per cent in February, compared to the same month in 2013, the Realtors Association of Edmonton reported in their monthly housing bulletin.
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Housing starts in Wood Buffalo in February are nearly a third of where they were last year. The Canadian Mortgage and Housing Corporation said in its monthly release that in February there were 20 housing starts — eight single-detached homes and 12 multiple family dwellings — compared to 58 in the same month last year.
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Luxurious homes, spacious properties and beautiful landscapes are fueling a healthy market for multi-million dollar homes in the foothills area.
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A critical part of any real estate purchase is the home inspection. Some people choose to forego this expense in a booming market but I would strongly recommend against it. This simple due diligence step can save you tens if not hundreds of thousands of dollars in unforeseen costs. With that in mind, here are some tips which can save you both time and money.
1) Ensure that you have a home inspector is lined up before you go about purchasing your next property. Be proactive and not reactive in this step.
2) If possible, ensure that there is no business relationship between your realtor and your home inspector. Some realtors like to work with home inspectors who are more relaxed in their inspections and it results in buyers proceeding with a purchase that would otherwise not be recommended by others.
3) When purchasing prebuilt real estate, a key component in your offer to purchase must be a line stating “subject to buyers satisfactory building inspection within 15 days acceptance”.
4) When conducting a home inspection, please ensure that you are there for the entire process. Before you make any large purchase such as an investment property, it is definitely worth your time to see every small detail you may have missed and that a licensed professional will find.
5) Investigate to see if a home inspector is currently licensed and has a professional designation. Any honest and reputable inspector will gladly comply with this simple request.
For more home inspection tips, please visit: http://tinyurl.com/yz85f42
WASHINGTON — The number of Americans who signed contracts to buy homes was essentially flat in January, a possible sign of a softening real estate market.
Read more: http://tinyurl.com/px6xl5j