Average rate on 30-year fixed-rate home is now 4.27 percent, after Fed announcement.

By MSN Real Estate partner Thu 8:45 AM

© Don Bayley/Getty ImagesBy Prashant Gopal, Bloomberg

 

Mortgage rates in the U.S. fell, sending costs for 30-year loans to the lowest since early February as the Federal Reserve confirmed its commitment to provide support for the economic recovery.

 

The average rate for a 30-year fixed mortgage was 4.27 percent this week, down from 4.34 percent, according to a statement on Thursday from Freddie Mac. The average 15-year rate dropped to 3.33 percent from 3.38 percent, the McLean, Va.-based mortgage-finance company said.

 
Tags: loans

The price is right, but good luck turning a profit, house flippers say.

By MSN Partner Apr 16, 2014 8:52AM

Via www.buildingdetroit.orgBy Daniel Goldstein, MarketWatch

 

MarketWatch
For sale: A spacious 1,600-square-foot, three-bedroom Tudor-style home built in 1929, with one-and-a-half baths, glass block windows, hardwood floors, crown molding and custom fireplaces. Within walking distance of restaurants, playgrounds and public schools.

 

And it’s being offered next month for as little as $1,000.

 

Just one catch. The single-family house on 5500 Kensington Ave. has a ZIP code that makes listing agents wake up in cold sweats: 48224.

 

Supply issues continue, though housing starts are up, according to a report released on Wednesday.

By MSN Real Estate partner Apr 16, 2014 8:28AM

© Seth Joel/Photographers Choice RF/Getty ImagesBy Conor Dougherty and Nick Timiraos, The Wall Street Journal

 

A flurry of recent housing data suggests that the market's spring selling season is getting off to a slow start, a worrisome sign after a winter of expectations that warmer weather would rekindle growth.

 

Reports from local real estate agent groups in some of the markets that were the first to rebound, including Las Vegas, Phoenix and San Diego, show year-over-year declines in March home sales. February data for pending home sales nationally — a barometer of early-spring activity — show a decline of 11 percent from a year ago.

 

The government’s seizure of land continues to be a controversial issue, but proponents cite the benefits of economic progress and development.

By MSN Real Estate partner Apr 16, 2014 8:20AM

Image: Yellow excavator at construction site (© Narvikk/Getty Images)By Mark Koba, CNBC

 

CNBCNine years ago, James Dupree bought a rundown warehouse and onetime horse stable in Philadelphia so he could convert it into an art studio. The 64-year-old muralist and painter knew he would have to spend thousands of dollars to fix it up.

 

What he didn't know was that the city was going to use the power of eminent domain to take the property and convert the block where Dupree's studio sits into to a high-end shopping area.

 

"It started right after I purchased the building," explained Dupree, who has been fighting the seizure in court. "They had called this area a blight several years ago, but didn't move on it until 2005."

 

Follow these 5 tips to get the most out of your remodeling project.

By MSN Real Estate partner Apr 15, 2014 10:41AM

© Paul Burns/Photodisc/Getty ImagesBy Josh Gorskoff, Money magazine

 

When the real estate market was in the dumps, snagging a great contractor was a simple task. With few people remodeling, no project was too small for hungry pros, many of whom were bidding at 10 percent to 40 percent below their boom-time rates.

 

Those days are gone. Remodeling spending is now up 30 percent from its low point, and single-family construction spending has doubled. Depending on where you live, a project that cost $50,000 in 2010 might now come in at $60,000 to $70,000.

 

You can keep your grass healthy without breaking your budget by following these tips.

By MSN Real Estate partner Apr 15, 2014 9:37AM

© Tetra images /Tetra images/Getty ImagesBy Susan Johnston, U.S. News & World Report

 

As the weather warms up and flowers begin to blossom, Americans with grassy yards will soon be thinking about mowing and lawn care. The National Gardening Association estimates that U.S. households spent roughly $29.5 billion on their lawns and gardens in 2013, an average of about $347 per household.

 

Lawn and garden costs can vary depending on factors such as the size of your yard and how much rain it receives. But as Mark Clement, host of the MyFixitUpLife radio show and blog of the same name, points out, "The easiest and [least expensive] lawn to take care of is a healthy one. It may take some work to get there, but healthy lawns – those that are fed regularly, watered properly and seeded at the best times of the year – fight off weeds better and look great doing it."

 

Report on April sentiment was 'weaker than expected again — and fairly disappointing.'

By MSN Real Estate partner Apr 15, 2014 9:15AM

Copper Beech Farm in Greenwich, Conn., sold for $120 million. It originally was listed for $190 million.

By MSN Real Estate partner Apr 15, 2014 8:19AM

realtor.comBy Neal J. Leitereg, realtor.com 

 

April is apparently the month for $100 million deals.

 

On the heels of the $102 million sale of the Fleur de Lys in Los Angeles comes word that Copper Beech Farm, the most expensive single-family home in the United States to ever list publicly, has sold for a staggering nine-figure sum. 

 

Like the Fleur de Lys, the prized Greenwich, Conn., property was similarly thought of as unsellable — at least at its $100 million-plus price. After debuting on the market for a then-record $190 million in May 2013, Copper Beech Farm saw its price drop considerably in the months that followed — first a $50 million price cut in July and then a $10 million adjustment this past January.

 
Tags: celebrity
 

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