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Foreign Investors can see the Upswing coming, buying now. August 14, 2012

Posted by CraftmarkHomes in Uncategorized.
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Even the foreign real estate market sees the impending recovery in the US Housing Market. That’s why they’re buying now, while the prices are still low. Raises in home prices over 15% tend to scare away the foreign market, but with their added boost to our domestic customer base, they may help provide the bump we need to kick the housing market back into high gear. Full article at inman.com

<a href="http://www.shutterstock.com/pic.mhtml?id=96548410">World flags</a> image via Shutterstock.World flags image via Shutterstock.

A decline in the international share of overall house hunters in the second quarter indicates that rising U.S. home prices may be putting off foreign buyers, according to a report from real estate search and marketing site Trulia.

The report is based on all home searches on Trulia between April 1, 2012 to June 30, 2012. The share of foreign searches on Trulia fell nearly 10 percent year over year in the second quarter, with the fastest appreciating markets seeing the biggest declines in foreign interest, according to Trulia.

After years of dropping home prices nationwide, many markets seem to have found their footing. Nationally, home prices were up only slightly in June — 0.3 percent on an annual basis.

“Foreigners attracted to real estate bargains get turned off when prices increase,” said Jed Kolko, Trulia’s chief economist, in a statement.

“Investors want to buy when prices are at their bottom, but they’ll start to lose interest when prices rise 15 percent, as they have in Miami and Phoenix. Demand by people looking to scoop up bargains can dry up quickly when prices rise.”

The share of foreign house hunters is declining even among buyers from countries that are ground zero in the European debt crisis, such as Greece, Italy, and Spain. Investors in search of a safe haven drove a rise in searches from such countries in 2011, but search activity from those countries peaked in the fourth quarter of 2011, and has fallen 15 percent since then.

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Good News for the Housing Market. August 2, 2012

Posted by CraftmarkHomes in Uncategorized.
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This is an excerpt from a report done by the National Association of Home Builders. Thought you all might like to know things are looking up!

“You may have noticed during the past two months that national media coverage of housing has turned a corner. NAHB has been doing its part by continually talking with the press to give our perspective on key housing data — new-home sales, housing starts, national home prices, the NAHB/Wells Fargo Housing Market Index (HMI) and the NAHB/First American Improving Markets Index (IMI) – which have all shown measurable signs of improvement during the past several months.

The HMI, which measures builder confidence in the single-family market, now stands at its highest level since March of 2007. Meanwhile, the IMI, which identifies local housing markets that have shown measurable and sustained improvement, has jumped from 12 markets when the index was first unveiled last September to 84 as of July. Moreover, production of single-family homes is now the strongest it has been since 2010 due to rising consumer demand brought on by improving market conditions.

Indeed, government data reveals that housing has gone from a net drag on the economy to a net positive and that residential home construction is now starting to reassume its traditional role of helping to move the economy forward following a recession.”