Tag: housing market

Jobs On the Rise

Written by: Samantha Guarderas

The buzz surrounding the revival of the housing market has brought up much speculation about the direct effect on jobs. If the housing market continues to steadily recuperate, more jobs will emerge for real estate agents, construction workers, furniture companies, architects, etc. Of all these industries, the construction division was arguably hit the hardest. According to CNN Money, the unemployment rate for the U.S. population is 8.3% and recently it has been determined that the unemployment rate for construction workers is 12.3%. Approximately 2.3 million construction jobs were cut. However, homebuilders added 5,800 workers in July alone, representing a shift in employment.

Another major effect that the housing recovery could have on jobs is relocation. While there are jobs available around the U.S not everyone is able to pick up and move. This is due in part perhaps to bad timing as well as the trouble that can come with selling a home. Therefore, relocating to pursue a job isn’t necessarily in the cards for those that may be qualified to take jobs in different cities or states. However, if the current housing market continues to fight its way uphill, these issues can be resolved for many.

Ultimately, this progression would cause consumer spending. If these home prices rise, then it’s assumed that the middle-class family will mimic this growth in wealth. Motivation in spending can be sparked by an awareness of higher earnings, resulting in an expansion of consumer spending.

With the continual focus on the housing market and it’s progression, what better time to look into property? Make sure to browse our listings to set up your own motivation for a possible move. Whether you’re relocating from a different state to finally work at your dream job or moving down the street, Eklipse Real Estate is here to guide you in your transition.

Home Values Bouncing Back

Written by: Samantha Guarderas

     Although the country has been seeing the damage from the plunge in our home values, the housing recovery has been able to slowly tick upward, in spite of the lack of job growth. Zillow recently announced on their real estate market report that, “home values increased 2.1% from the first to the second quarter of 2012 to $149,300.” The home price in 20 major markets rose 1.3% in April, making it the first monthly increase in over six months. This not only represents the turn around for the housing market but also, national home values have consistently risen for the fourth consecutive month, according to Forbes. This stability in the increase of home values hopefully represents future progression. Zillow estimates that the housing market will continue this road to recovery at a slow pace over the next year.

     The cities that are speculated to bring in above average gains over the next year are those that have endured a lot of loss such as Phoenix, Las Vegas and cities in Florida. There is assumption that if home prices continue to increase in these cities, many new homes will be put on the market. This would be a result of homeowners who have delayed putting their homes on the market in hopes of values to recuperate. This sudden rise in listings could even out the prices for some time in home value.

     Statistically, we cannot ignore the fact that home values are on the rise and investment opportunities continue to flourish. We have seen a common theme of consistency in 2012. Why not invest? Eklipse Real Estate is offering the perfect investment opportunity through a 6-unit condo building located in the heart of Venice.

Phillip Braunstein is the listing agent.

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Recovery & the Housing Market 2012

Written by: Samantha Guarderas

With recent findings we have the upmost hope for the housing market as 2012 nears its way to the end of a year that can only be synonymous with the word recovery.  The housing market for the remainder of 2012 is estimated to progress according to The San Francisco Chronicle, as home sales are escalating pointing towards recovery. Two major things to pay attention to are both pre-existing homes and new homes.

Previously owned home sales have jumped from 3.39 million in 2010 to an expected 4.55 million by the end of 2012. This jump in pre-existing home sales is significant in housing upturn considering approximately 93% of the market in the United States consists of older homes. This is a positive start to the turnaround of the market and sparks optimism for the future of the housing market.

New homes are seeing a leap in numbers as well.  May saw an increase of 7.9% in authorization of new construction making it the highest it has been since 2008. These numbers exceeded estimations made by analysts and has become a pleasant surprise, contributing to a promising future.

The latest facts have one thing in common and that’s increase. Increase is key in fueling the housing market and allowing it to flourish to its highest ability. With 2012 halfway over, there is plenty of time for this increase to further exceed expectations and continue to add to the recovery process.

International Buyers Entering the U.S Real Estate Market

Written by: Johanna De La Fuente

$82.5 billion dollars was invested by international buyers in the United States real estate market! This all happened in the last 12 month period that ended in March, according to the National Association of Realtors. With the seemingly endless turmoil in Greece, Spain, Italy, and Ireland, coupled with the potential dissolution of the European Union; international buyers are flocking toward the states to acquire properties.

This might seem at odds to Americans who constantly hear about the unstable housing market at home and the imperceptible recovery of the market that is keeping many domestic home buyers to stay on the sidelines, worrying that the market might double dip or remain stagnant. These international buyers are predominantly from countries such as Mexico, China, Brazil, the United Kingdom, Canada, and India, according to a recent article in the Wall Street Journal.

At two recent open houses in Los Angeles at Eklipse’s listings, Phillip Braunstein met several potential buyers from Indonesia, China, Denmark, and the United Kingdom who were looking to purchase the homes. Several of them already owned homes in Los Angeles and were looking to purchase another home for a relative or as an investment rental property.

While Sellers and real estate agents see this influx of foreign buying as a boon, many see it as a bane whereby foreigners are buying the limited amount of homes available in prime locations, excluding Americans from living in the properties in their own country.  For the time being, it seems that most professionals involved in the real estate business are welcoming the increased business from these all cash buyers, and when you’re at your next open house, keep your ears open for what foreign accents you can hear from people prospecting the home…

California Housing Market Improvement!

Written by: Johanna De La Fuente

The rise in median home pricing and  the decline in foreclosure sales have been key contributions to the improvement of the housing market recently. From the same time last year, the sale of real estate has improved8.6%. As the market improves, new construction is also increasing.

Eklipse Real Estate is a full service brokerage firm and is also involved in developing several real estate projects in Los Angeles. One of its currents developments is a single family home in Hollywood on Clinton Street, just south of the happening shops and restaurants on Melrose Avenue, 90036. Eklipse will be listing the Spanish style 2 bedroom, 2 bath home in the upcoming weeks.