From the New York website: The average interest rate on 30-year fixed-rate mortgages in the U.S. hit 3.36 percent Friday, matching the lowest level ever recorded. The last time these mortgages came with a 3.36 percent interest rate was in December 2012. Driving the trend is a decline in the yield on 10-year U.S. Treasury bonds, which serve as a key benchmark...
Square Station Miami gets city approval
Despite negative recommendations from staff and the Miami Planning and Zoning Appeals Board, the city commission unanimously approved a zoning change that paves the way for The Melo Group’s Square Station project to move forward. City commissioners were swayed by the developers’ promise to set aside 96 apartments in two proposed residential towers for workforce...
Developers to provide affordable housing & transportation incorporated in new projects
During an event Thursday morning featuring an all-female lineup of prominent real estate professionals, developers Lissette Calderon and Avra Jain voiced their support for a Miami-Dade County legislative proposal that would require builders to set aside units for blue collar workers currently priced out of the South Florida market. “We have to have housing that...
Uber co-founder makes real estate play with Haus
SAN FRANCISCO — Uber co-founder Garrett Camp has launched a new real estate venture called Haus for startup studio Expa, which allows buyers to digitize the making and accepting of official offers on a property. Camp debuted the startup on Thursday,TechCrunch reports. Haus now aims to capture the market for buyers looking for more transparency in the process,...
Millennials now largest generation in housing market
CHERRY HILL, N.J. – Aug. 2, 2016 – New research from TD Bank reveals that millennials are more conservative with their money than their youth would suggest. In fact, nearly two-thirds are saving cash in order to buy their first home. However, 74 percent of millennials say that saving for a downpayment is still the most significant hurdle to achieving the...
They’re back: Teardowns again becoming popular
They’re back: Teardowns again becoming popular WASHINGTON – Aug. 2, 2016 – More builders and private individuals are turning to teardowns to open up lots. They’re eyeing aging homes to demolish and replace with a modern house that they believe will be more appealing to today’s homebuyers. In Houston, the teardown trend is especially evident. Permits...