Items Tagged with 'Housing Market'


  • Nantucket home sales jump 48% in May as wealthy Americans prepare for summer

    Average home price outstrips the Hamptons
    Real estate on Nantucket Island, the Massachusetts beach resort that’s pricier than the Hamptons, matched a record in May as wealthy Americans prepared for summer. The volume of home sales jumped 48% to $62.7 million from $42.4 million a year earlier, according to data from Lee Real Estate. The average price for a single-family home on the island 30 miles off the coast of Cape Cod was $2.2 million, a gain of 6.7% from a year ago.
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  • Calabria to Congress: Fannie, Freddie reform is urgent, critical and overdue

    FHFA director's report to Congress makes pleading case to end GSE conservatorship
    FHFA Director Mark Calabria stressed the need to remove the GSEs from conservatorship to lawmakers, outlining the reforms he views as necessary in his first annual Report to Congress since taking the helm at the agency. Here’s what he wants Congress to do to "support sustainable homeownership."
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  • Mortgage rates stabilize at two-year low after the U.S. avoids a trade war with Mexico

    The 30-year fixed-rate mortgage holds steady at 3.82%
    This week, mortgage rates held at a two-year low after the U.S. government avoided a trade war with its neighbors to the south, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said easing trade tensions with Mexico have helped stabilize the nation's markets.
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  • President Trump's former estate in Greenwich gets a 29% price cut

    6-acre waterfront property now listed at $38.5 million
    It’s not a good time to be selling a mansion in Greenwich, even if it was once occupied by the current president of the United States. The owners have been trying to sell the 20,000-square-foot Georgian mansion since 2009 when it first hit the market at $50 million. This week, the price was slashed to $38.5 million and the listing suggests it’s an opportunity "to renovate or build new."
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  • Legendary Wall Street buyout firm KKR doubles down on house flipping

    Billionaires Henry Kravis and George Roberts bet big on "flip loans"
    Legendary Wall Street buyout firm KKR is doubling down on house flipping. The private equity firm run by billionaires Henry Kravis and George Roberts is putting another $250 million into Toorak Capital Partners, which buys short-term loans made to real estate investors who buy and flip houses.
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  • MBA: Declining mortgage rates push refinances to a 3-year high

    The Market Composite Index rises a whopping 26.8%
    Despite growing economic tension, mortgage applications continued to climb, according to the Mortgage Bankers Association. MBA Vice President of Economic and Industry Forecasting Joel Kan said purchase and refinance applications surged, driven mainly by lower mortgage rates.
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  • San Francisco's housing market heats up as tech IPOs move in

    35% of Redfin offers made in San Francisco faced a bidding war in May
    Although bidding wars are slowing as the housing market continues to cool, new data from Redfin suggests that San Francisco's housing market is heating back up. Redfin Chief Economist Daryl Fairweather said recent tech IPOs have reignited competition in the metro.
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  • Inside Jeff Bezos' new 12-bedroom Manhattan mega-condo

    Bezos buys penthouse and two adjoining condos for a combined $80 million
    The CEO of the world's largest retailer is buying three condominiums near Madison Square Park for a combined price of about $80 million. The purchase includes a 10,000-square-foot triplex penthouse with five bedrooms and nearly 6,000 square feet of outdoor space overlooking the Empire State Building, the Flatiron Building, and the new World Trade Center. The other two other apartments, directly beneath the penthouse, bring the combined interior space to 17,000 square feet. CNBC has a video tour.
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  • Fannie, Freddie IPOs at least 3 years away, Raymond James analysts say

    "Preparatory steps" include rebuilding $200 billion to $250 billion in capital
    While the new head of the Federal Housing Finance Agency said last month he's considering an initial public offering of Fannie Mae and Freddie Mac as early as the first half of next year, Raymond James analysts are saying it's not likely to happen for three or four years. There's a long list of preparatory steps, and presidential politics could also play a role, according to the report.
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  • House flipping is back – it's just not as profitable as it used to be

    Flipping rate spikes to 9-year high, while average ROI falls to 8-year low
    It seems Americans have finally shed their post-recession fears and gotten back into the house flipping game. The latest report from ATTOM Data Solutions reveals that the house-flipping rate spiked to a nine-year high in the first quarter of the year, but at the same time, investors are reaping less profits than before.
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