A new study by the USC Lusk Center for Real Estate finds that more immigrants are choosing to put down roots in mid-size cities rather than larger gateway areas, in part because many smaller metro areas feature established, growing neighborhoods of fellow immigrants and less competition for entry-level jobs. The study, “Immigrants and Housing Markets in Mid-Size Metropolitan Areas,” finds that mid-size markets, such as Nashville, Detroit, Colorado Springs, Colo., Minneapolis, Sarasota, Fla., and El Paso, Texas, had an average 27 percent increase in new immigrant population at a time when the major gateway cities are losing residents. The largest numbers of immigrants came from Mexico and China. The study estimates that immigrants and their descendents will make up 82 percent of U.S. population growth over the next 40 years. re Immigrants Choose to Live in Mid-Size Cities A new study by the USC Lusk Center for Real Estate finds that more immigrants are choosing to put down roots in mid-size cities rather than larger gateway areas, in part because many smaller metro areas feature established, growing neighborhoods of fellow immigrants and less competition for entry-level jobs. The study, “Immigrants and Housing Markets in Mid-Size Metropolitan Areas,” finds that mid-size markets, such as Nashville, Detroit, Colorado Springs, Colo., Minneapolis, Sarasota, Fla., and El Paso, Texas, had an average 27 percent increase in new immigrant population at a time when the major gateway cities are losing residents. The largest numbers of immigrants came from Mexico and China. The study estimates that immigrants and their descendents will make up 82 percent of U.S. population growth over the next 40 years.
from CRS member connect newsletter
Foreclosure filings, including default notices, scheduled auctions and bank repossessions, were reported on 315,716 U.S. properties during January, a 10 percent decrease from December but still 15 percent higher than January 2009, according to the latest RealtyTrac figures released today. One in every 409 U.S. homes received a foreclosure filing during the month.
REO activity fell 5 percent from the previous month, but was up 31 percent from a year ago. Default notices were down 12 percent in January, but were up 4 percent from January 2009, while scheduled auctions were down 11 percent for the month but were 15 percent higher than a year ago.
RealtyTrac’s CEO James J. Saccacio says the January foreclosure data is similar to a year ago, when a double-digit jump in foreclosure activity in December 2008 was followed by a 10 percent drop in January 2009. “If history repeats itself, we will see a surge in the numbers over the next few months as lenders foreclose on delinquent loans where neither the existing loan modification programs or the new short sale and deed-in-lieu of foreclosure alternatives works,” Saccacio says.
Nevada continues to lead the country in foreclosure activity with one in every 95 households receiving a foreclosure filing during January, more than four times the national average. Arizona was second with one in every 129 households receiving a foreclosure filing.
Las Vegas had the highest metro foreclosure rate in the country, with one in every 82 households receiving a foreclosure filing during the month, despite a decrease of 2 percent in foreclosure activity from the previous month and 21 percent drop in activity from a year ago. Phoenix was the only metro area among the top 10 to post a month-over-month increase (4 percent) in foreclosure activity.
Brian Ripp, CRS
info from; CRS connect e-mail update
Today’s market holds tremendous opportunities for first-time buyers and the REALTORS® dedicated to assisting them in their first home purchase. Housing affordability is at historic highs in many areas as low mortgage rates, government tax credits, and lower home prices have continued to make the goal of homeownership within reach for every California household−but they can’t do it alone. They need you, the California REALTOR® , with the skills and market knowledge to navigate through this often difficult process of buying a home. While these transactions do take a little more effort and preparation on the part of the REALTOR® and the home buyer, there is no greater reward than getting that family into their first home.
The CALIFORNIA ASSOCIATION OF REALTORS® continues to be a strong advocate for programs that will assist home buyers in these difficult economic times. We have developed this guide as an introduction to the programs currently available to potential California home buyers from federal, state, and local agencies. Because these programs do evolve over time, always contact the relevant agency to verify program availability and eligibility before you begin. If working with first-time home buyers is your calling, you will need to invest in learning about the various programs that are offered in your community.
With this guide, you’ll learn the basics of working with these programs and some practical tips to help you avoid the common pitfalls.
2010 C.A.R. Financing Guide for California Home Buyers
from CAR’s website
Did you know that heating and cooling account for 44 percent of the average home’s energy use?
Insulating your home is your best protection against high heating and cooling bills. It’s also the best way to keep your home comfortable in very season.
Start by adding insulation to any unfinished attics and crawl spaces. Then consider insulating the ceilings and walls between your living space and an unheated basement or garage.
Finally, don’t forget that windows and doors can be some of your home’s biggest energy wasters. Make sure the weather-stripping is in good condition at all times. Install storm windows and doors to help keep your home draft-free.
With these quick measures, you can increase your energy-efficiency and keep your home comfortable and climate-controlled for less.
The pace of existing-home sales in November rose a substantial 7.4 percent, cintinuing a string of solid increases in the closing months of 2009. Looking ahead, sales are expected to ease, with households, no longer concerned about the popular home buyer tax credit immediately expiring, taking longer to buy. NAR’s forward-looking pending home sales idex shows a 16 percent drop in closings in November. Sales should pick up again as the tax credit wids down in mid 2010.
information from NAR’s Realtor magazine -Feb. 2010
For America’s youngest movers, moving to a new home can be an unsettling experience. The excitement of meeting new friends or meeting new friends or decorating a new room is often outweighed by fears of losing touch with old friends or fitting in at a new school.
Here are some tips to help ease the anxiety children may feel when changing addresses:
*Include your children in decorating decisions for the new room.
*Assign your children a box to pack, or glassware to wrap, so they feel involved.
*Familiarize them with your new neighborhood, and locate some of your family’s favorite restaurants and stores. This will help your children feel more at home.
*Introduce yourself to your new neighbors before moving, and invite them and their children over to get acquainted.
