Alliance of Business Professonials
Economy and Housing Market Projected to Grow in 2015

The good thing about economic recovery, even when it’s not living up to expectations, is that forecasters always remain optimistic for tomorrow.

Despite many beginning-of-the-year predictions about spring growth in the housing market falling flat, and despite a still chugging economy that changes its mind quarter-to-quarter, economists at the National Association of Realtorsand other industry…

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If you were selling today

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Luxury Comes at Different Costs

Local markets equate luxury housing differently. For example, in Los Angeles, the luxury market may come at about $4 million and up – that is double the amount Nick Segal of Partners Trust says that he would have put it at eight years ago. But in Houston, luxury housing could come at about a $1 million price tag, largely driven by double-income households of young entrepreneurs, says Martha…

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Where Can the Middle Class Buy a Home?

For the majority of homes, buying is cheaper than renting. But as home prices rise faster than incomes and mortgage rates slowly head upwards, the question of national affordability becomes ever more germane. Compared to the longer-term past, homeownership still looks relatively affordable as home prices remain undervalued and mortgage rates remain near historic lows. However, affordability for…

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VA Loans Gain Popularity as FHA Costs Rise

The Veterans Affairs loan program – which has long been saddled with low participation rates – is garnering more attention. For fiscal year 2013, VA lenders originated a record 629,300 single-family loans.

More military members are reaching for VA loans at a time when sharp increases in Federal Housing Administration mortgage premiums have made FHA loans less attractive, says Megan Booth, senior…

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Will Boomers Leave Their Single-Family Nests?

As baby boomers – the generation born between 1946 and 1964 – reach retirement age, and the last of their adult children moves away from home, will they decide to stay in the suburban home or flock to a smaller place near the city? It’s a question that housing analysts are paying careful attention to, since the large generation’s housing choices can have significant implications for the housing…

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Luxury Sales Heat Up Across the Country

Luxury home sales, particularly sales of the priciest 1 percent of homes, are surging. Sales of the most expensive homes in many local markets are up 21.1 percent this year, after a 35.7 percent gain last year, the real estate brokerage Redfin reports in its 2014 “Luxury Report.” On the other hand, sales in the other 99 percent of the market have dropped 7.6 percent this year.

It’s a scenario…

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Job Market Optimism Boosts Consumer Confidence

After dipping in April, the Conference Board’s Consumer Confidence Index saw modest improvement in May as optimism for the job market grew.

The index rebounded to 83.0 in the latest reading, up from a downwardly revised 81.7 in April, the group reported Tuesday.

“Consumer confidence improved slightly in May, as consumers assessed current conditions, in particular the labor market, more…

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Building Owners Call for Standard in Measuring Square Footage

Building owners throughout the world use different systems for measuring square footage or square meters of office spaces that tenants want to lease. The measurements also could differ by up to 24 percent from one another, reports The Wall Street Journal.

As such, an international coalition of real estate organizations has banded together to create a single measurement system for the global…

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Study: Housing ‘Recovery’ is Bypassing Many American Communities

Despite claims that the recent rise in housing prices is solving the nation’s foreclosure and economic crises, millions of families continue to face financial problems from which they may never recover, according to research from the Haas Institute for a Fair and Inclusive Society at the University of California, Berkeley.

In a new report, “Underwater America,” the group found that in 57 cities,…

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