Finance & Mortgage

Loophole Provides Savings for Wealthy Property Buyers

The current tax imposable on transfers on real property is pegged at one percent for the first $200,000. The rate increases to two percent when the property is worth $2 million and anything over that is taxed at three percent. Many first time buyers are exempt from this tax. With this tax alone, a projected $1.5 billion in revenues are expected to be collected between 2015 and 2016 alone.

Hot Summer Good for Real Estate Purchases

There are many reasons why spring is busy for real estate. One of the reasons is that homes look better during spring. This causes listings to expand and increase available inventory. Alongside this is the increase of potential buyers interested in purchasing a home at this period. With these two factors, home prices naturally would increase as demand increases.

Largest Ghost City in China at 90 Percent

With previous articles showing that Ordos Kangbashi as the "largest ghost city in China", recent reports have started to dispute the assertion. Recent government announcements said that the city is at 90 percent occupancy.
EDITOR'S PICKS
  • Rents in London Set to Surpass £2,000
    As of the moment, the average rental cost is at £1,867 per month. This was 2 percent higher from prices at the start of 2015 as observed by real estate agent Portico's London Rental Market Report. In the said report, based on its historical data, two bedroom homes would reach £2,008 per calendar month by the time September comes around.
    By Staff writer
  • Spring 2016 Draws More Home Buyers, More Money
    Spring 2016 comes with a 5.1% increase in the sales of existing homes against the newly built residences in March from the previous month’s 1.5% from a similar period last year. The buyers closed on a total of 5.33 million of townhouses, single-family homes, condominiums and co-ops last month based on the seasonally adjusted figures in a recent report.
    By Staff Reporter
  • UK Home Sales, Mortgage Lending More Than Doubled Ahead of Stamp Duty
    Real estate market activities in the United Kingdom have surged as many buyers and sellers tried to beat the stamp duty implementation. Both sales and mortgage lending figures rose more than twice in March compared to a year ago.
    By Staff Reporter
  • Home Sales Volume Above Expectations
    The reported volume for March was higher than February's annualized rate of 5.07 million. Previously, projected sales forecast was pegged at 3.5 percent or a volume of 5.30 million units for March. As reported, sales increased by 1.5 percent from last year's volume.
    By Staff writer
  • Digitization Revolutionizing Real Estate Market
    With the digital age overtaking many established markets, only time will tell until it reaches and dominates the real estate market. The main problem is, according to a report from CNBC, government agencies and established companies are too slow to adjust to the changing times.
    By Staff writer
  • Earth Day Influences Future Home Designs
    The major obstacle to going green is the cost. The Forbes report, quoting CrediFi, estimated that an additional 10 percent to 30 percent cost would be shouldered by the developer.
    By Staff writer
  • How to Get an Approved Mortgage Even Without a Full-Time Job
    Applying for a mortgage is a long and tedious process, which requires the submission of a handful of financial documents to prove your capacity to pay the loan. While having good credit scores is one of the requirements to getting an approved mortgage, having a full-time job also provides security for the lenders. Can you still get an approved mortgage if you do not have a full-time job?
    By Staff Reporter
  • SF Realtors Propose Two Ballot Measures to Increase Affordable Housing Eligibility
    House prices and rental rates have been increasing to a level that most residents of Bay Area could not afford. Many of them are ending homeless and pushed out of the city.
    By Staff Reporter
  • Oakland Tackles Housing Affordability Crisis by Imposing Impact Fees on New Housing
    Oakland is in the middle of a housing affordability crisis. Skyrocketing house prices and rental rates have pushed many out of their homes and out of Oakland. To help address the issue, Oakland is planning to introduce a mechanism that has worked for other Bay Area cities.
    By Staff Reporter
  • Fixed Vs. Adjustable-Rate Mortgage: Which is the Right One for You?
    Choosing the right mortgage for you is essential because this will determine your mortgage payments for the next couple of years or so. While there is no such thing as a “one size fits all” when it comes to mortgages, how will you choose between the fixed and adjustable-rate mortgage (ARM)?
    By Staff Reporter