OfflineHere are some stories of interest in this week’s real estate news.
Recent Mortgage Rates
The most recent mortgage rate breakdown by region shows:
• Southeast Region: 4.06% with 0.9% discount points
• North Central Region: 3.97% with 0.7% discount points
• Southwest Region: 4.04% with 0.7% discount points
• Northeast Region: 4.00% with 0.7% discount points
• West Region: 3.96% with 0.8% discount points
These current rates are well below their 2011 highs. Beginning in May, rates dropped for 5 consecutive months before reaching October’s “rock-bottom” levels.
Top Four States for Future Job Growth
According to a Forbes article, the top four states for job growth are:
1. Texas
2. Nevada
3. Arizona
4. New Mexico
Of these, only New Mexico is not a right-to-work state, and this ability to choose whether to join a union or not is considered a factor in attracting business and jobs.
Top Five Places to Be a Landlord
CNNMoney gives the following data about the top five cities for rental property owners:
1. Houston
a. Projected 3-year rent increase: 18%
b. Quarter 2 home price: $174,000
c. Current monthly rent: $818
2. Grand Rapids
a. Projected 3-year rent increase: 15%
b. Quarter 2 home price: $128,000
c. Current monthly rent: $636
3. Rochester, NY
a. Projected 3-year rent increase: 25%
b. Quarter 2 home price: $148,000
c. Current monthly rent: $785
4. Dallas
a. Projected 3-year rent increase: 16%
b. Quarter 2 home price: $166,000
c. Current monthly rent: $877
5. Tulsa
a. Projected 3-year rent increase: 19%
b. Quarter 2 home price: $146,000
c. Current monthly rent: $671
41 Improving Housing Markets
41 housing markets made the current NAHB/First America Improving Markets Index. The IMI tracks markets that have shown improvement for at least six months in permits, employment and housing prices:
Anchorage, Alaska
San Jose, Calif.
Boulder, Colo.
Fort Collins, Colo.
Washington, D.C.
Athens, Ga.
Davenport, Iowa
Waterloo, Iowa
Fort Wayne, Ind.
Kankakee, Ill.
New Orleans, La.
Monroe, La.
Muncie, Ind.
Muskegon, Mich.
Ann Arbor, Mich.
Tyler, Texas
Cheyenne, Wyo.
Fayetteville, N.C.
Jackson, Miss.
Winston-Salem, N.C.
Bismarck, N.D.
Grand Forks, N.D.
Lincoln, Neb.
Toledo, Ohio
Canton, Ohio
Charleston, W.V.
Williamsport, Pa.
Pittsburgh, Pa.
Scranton, Pa.
Corpus Christi, Texas
Kingsport, Tenn.
Amarillo, Texas
Casper, Wyo.
Laredo, Texas
McAllen, Texas
Sherman, Texas
Midland, Texas
Odessa, Texas
Burlington, Ver.
Danville, Va.
Winchester, Va.
Grand Rapids made #2! Wait a minute! Which state do they mean? I know there's a Grand Rapids in MI, but I think there's at least 2 other states with towns by the same name. Oh well, the stat's sound right for G.R., MI. Had a feeling Muskegon and Ann Arbor would make the cut. They're big college towns, and they'll never go down very far, or stay there for very long.
Paul: "I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when my fear is gone I will turn and face fear's path, and only I will remain."
Duke Leto: "I'll miss the sea, but a person needs new experiences. They jar something deep inside, allowing him to grow. Without change something sleeps inside us, and seldom awakens. The sleeper must awaken." - "Dune."
Is that a bad thing or a good thing, I don't know, but will wait and see. Great information.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.