In New York, overseas investor buyers are attracted to certain amenities — and sometimes, charm.
When Nataliya and Yuri, a Ukrainian couple who are withholding their name for privacy purposes, moved to New York four years ago, they purchased a one bedroom apartment on West 28th Street for $900,000. The couple subsequently sold the property for more than $1 million and are renting a $4,000-a-month one-bedroom in the financial district on Spruce Street while they wait to move into a two-bedroom in Silver Towers at 620 W. 42nd St. with their 9-month-old child.
"We purchased the Chelsea apartment as an investment but haven't found another property we want to buy yet," said Yuri, who operates an advertising business with offices in Ukraine and New York. "We like buildings whose brand name we can trust."
When you see a lender's table of loan rates and costs, it helps to know what's important.
Looking at the rate sheets from several lenders can help you when shopping for a mortgage. Here are some tips to help you read a mortgage rate sheet.
What it tells you
Most rate sheets start at the same base rate, changing daily based on the government prime interest rate. Then they list all of the costs for each change a lender makes.
In January, only 48,000 foreclosures were completed nationally, a 19 percent decline from last year, according to a new report.
In January, only 48,000 foreclosures were completed nationally, according to the latest report from CoreLogic, a residential property information and analytics companies, in Irvine, Calif.
Affordability troubles grow, especially for first-time buyers
It is hard to overstate the benefits of rising prices to the economy broadly and to homeowners, banks and home builders specifically after years of declines. Price gains have pulled more Americans from the brink of foreclosure and given home buyers more confidence that they won't get stuck with an asset whose value will decline.
Moving trucks loaded with the biggest hauls rolled out of California and into Texas in 2013.
"The most frustrating thing about L.A. was we were making really good money and could never break into the housing market. We were spending a fortune on rent," says Darby, 31 years old.
So Darby and her partner, Dak Rasheta, who both work in the entertainment industry, moved to Dallas last month. They bought a three-bedroom house, and their mortgage payment is less than half of what they were paying in rent each month.
Before putting your house on the market, consider these ways to spruce up your home.
To give prospective sellers ideas on what needs to be on their spring-cleaning checklists, here are some areas homebuyers will likely view with a critical eye — and how to address them.
1. Trim the lawn and trees
High-end buyers emboldened by the recovering economy take advantage of reduced price tags.
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Share of housing construction as rental apartments at highest level in at least four decades.
The share of new homes being built as rental apartments is at the highest level in at least four decades, as an improving jobs picture spurs younger Americans to form their own households but tighter lending standards make it more difficult to buy.
Residential construction -- a pillar of the economy and employment -- is starting to ramp up again overall, but in previous years the growth was driven by single-family homes. Last year, according to census data, construction was started on a little less than one million new residential units, and about one in three of those was a rental in a multifamily building, the highest share since data began in the mid-1970s. Single-family homes accounted for about two-thirds of housing starts last year, down from their peak of 87 percent in 1993 and about 80 percent in the years leading up to the recession, the census data showed.