Berkshire unit buying German pipe company: report

A unit of Warren Buffett’s Berkshire Hathaway Inc. is buying a German maker of pipe components, Willhelm Schulz GmBH, according to a report in the Handelsbatt newspaper on Monday. In a comment to the newspaper, Mark Donegan, the chief executive officer of Berkshire’s Precision Castparts, said the company doesn’t comment on individual transactions, “but PCC has negotiated an agreement to take over the Schulz Group.” There was no immediate response from an email inquiry to Precision Castparts and a spokesperson from Willhelm Schulz could not immediately be reached for comment.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Monday Morning Cup of Coffee: Trump shows he’s serious about deregulation

By swheeler@housingwire.com Newly installed President Donald Trump gave some indication of his deregulation strategy Friday night, when he signed an executive order seeking to repeal the Affordable Care Act. An executive order doesn’t change the existing law, but does change the enforcement of the law, a course of action that could just as easily be applied to mortgage legislation like Dodd-Frank. …read more

From:: Real Estate Wire

All United domestic flights grounded for about 2 hours

All United Airlines domestic flights were grounded for about two hours Sunday night due to a computer glitch. “We have issued a ground stop for all domestic mainline flights due to an IT issue,” United Continental spokeswoman Maddie King said in a statement. The “ground stop” was lifted just after 9 p.m. Eastern, according to a tweet from the airline, and “we’re working to get flights on their way.” While United planes flying within the U.S. could not take off, the grounding did not apply to United sub-carriers. United did not immediately say how many flights were affected, nor what exactly the problem was.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Ethics group to sue Trump, claiming Constitutional violations

A group of ethics experts and constitutional scholars plans to file a lawsuit against President Donald Trump on Monday morning, claiming that Trump is breaking the law by allowing his hotels and other businesses to profit from foreign governments. Trump was pressed to divest his business holdings before he took office, but did not, instead passing day-to-day operations to his two adult sons. The group, the Citizens for Responsibility and Ethics in Washington, claims that Trump is breaking the Constitution’s foreign emoluments clause. “His Constitutional violations are immediate and serious, so we were forced to take legal action,” said CREW in a statement late Sunday. CREW is not seeking monetary damages, but will ask a federal court to block Trump’s businesses from accepting payments from foreign governments.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Are Higher Mortgage Rates Scaring Off First Time-Homebuyers?

By Beth McGuire

First-time homebuyers are shying away from their plans to purchase this spring, according to a recently released report by realtor.com®, due to the surge in mortgage rates in the last two months of 2016. Though rates have deflated since the end of the year, they remain hovering above 4 percent—high enough to scare off first-timers this spring, now down to 44 percent from 55 percent in October.

“The rise in rates is associated with an anticipation of stronger economic and wage growth, both of which favor buyers,” says Jonathan Smoke, chief economist for realtor.com. “At the same time, higher rates make qualifying for a mortgage and finding affordable inventory more challenging. The decline in the share of first-time buyers since October suggests that the move-up in rates is discouraging new homebuyers already.”

First-time homebuyers affording a 20 percent down payment on a median-priced home at the current average 30-year rate would be responsible for an additional $720 in interest each year, according to realtor.com’s report.

Record-high home prices will tamp down first-time homebuyers, as well. The median list price in December 2016 matched the median list price in July 2016: $250,000. Inventory in December 2016, in addition, remained limited, setting the new year up with the lowest inventory since the recession. The National Association of Home Builders (NAHB) expects single-family construction to grow 10 percent in 2017.

The rise in rates is not stifling demand overall, though, according to realtor.com’s report—in fact, repeat homebuyer activity has continued, as buyers, uncertain about the future, take advantage of still-low rates. Consumers recently surveyed by Fannie Mae believe now is a good time to buy a home, but also believe mortgage rates will rise in the year ahead.

“Last fall, we saw a large jump in the number of first-timers planning home purchases, which was very encouraging because their market share is still well below pre-recession levels,” Smoke says. “But, as evidenced by their decline in share, first-time buyers are really dependent on financing, and affordability is one of their largest barriers to homeownership. This number could continue to decline with anticipated increases in interest rates and home prices.”

For more information, please visit www.realtor.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Are Higher Mortgage Rates Scaring Off First Time-Homebuyers? appeared first on RISMedia.

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From:: Real Estate News

Are Higher Mortgage Rates Scaring Off First Time-Homebuyers?

By Beth McGuire

First-time homebuyers are shying away from their plans to purchase this spring, according to a recently released report by realtor.com®, due to the surge in mortgage rates in the last two months of 2016. Though rates have deflated since the end of the year, they remain hovering above 4 percent—high enough to scare off first-timers this spring, now down to 44 percent from 55 percent in October.

“The rise in rates is associated with an anticipation of stronger economic and wage growth, both of which favor buyers,” says Jonathan Smoke, chief economist for realtor.com. “At the same time, higher rates make qualifying for a mortgage and finding affordable inventory more challenging. The decline in the share of first-time buyers since October suggests that the move-up in rates is discouraging new homebuyers already.”

First-time homebuyers affording a 20 percent down payment on a median-priced home at the current average 30-year rate would be responsible for an additional $720 in interest each year, according to realtor.com’s report.

Record-high home prices will tamp down first-time homebuyers, as well. The median list price in December 2016 matched the median list price in July 2016: $250,000. Inventory in December 2016, in addition, remained limited, setting the new year up with the lowest inventory since the recession. The National Association of Home Builders (NAHB) expects single-family construction to grow 10 percent in 2017.

The rise in rates is not stifling demand overall, though, according to realtor.com’s report—in fact, repeat homebuyer activity has continued, as buyers, uncertain about the future, take advantage of still-low rates. Consumers recently surveyed by Fannie Mae believe now is a good time to buy a home, but also believe mortgage rates will rise in the year ahead.

“Last fall, we saw a large jump in the number of first-timers planning home purchases, which was very encouraging because their market share is still well below pre-recession levels,” Smoke says. “But, as evidenced by their decline in share, first-time buyers are really dependent on financing, and affordability is one of their largest barriers to homeownership. This number could continue to decline with anticipated increases in interest rates and home prices.”

For more information, please visit www.realtor.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Are Higher Mortgage Rates Scaring Off First Time-Homebuyers? appeared first on RISMedia.

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From:: Finance and Economy

Meeting Expectations with a Marketing Mix

By Beth McGuire

Jennifer_Cutter

In the following interview, Jennifer Cutter, managing broker of Edina Realty City Lakes in St. Louis Park, Minn., discusses what’s ahead for the Minneapolis market, and how she’s outfitting her agents to meet those expectations.

Region Served: Minneapolis and surrounding areas
Number of Offices: 1
Number of Agents: 75-85
Facebook: @LakesEdinaRealty
www.edinarealty.com

What are your expectations for your local market in 2017?

Low inventory will create multiple offers. I also expect a rise in non-MLS sales, modest appreciation and a buyer appetite for housing. High rents will lead to buyers, as homeownership has a strong value at a lower mortgage payment. Interest rates will creep up, and I expect the return of the adjustable-rate mortgage.

As a managing broker, what is your leadership philosophy?

We are here to serve the public. Homeownership is good for communities, and we want to be a part of that. Highly-trained, informed and ethical agents are what we have to offer, and we are very proud of that.

What are some of the best ways you motivate your agents?

I motivate by offering market knowledge, business planning, accountability and mentorship, along with specific marketing strategies to gain clients and exposure.

Turning to marketing, how are you using social media to stay in front of your clients and prospects?

We are using RISMedia [ACE] posts; in addition, we boost all our listings to specific demographics and post market share information on areas surrounding our location. We acknowledge our agents’ birthdays and anniversaries, and post office and community events to engage our viewers.

What aspects of RISMedia’s ACE are most appealing to you, as a broker and for your agents?

The simplicity—I don’t have to do a thing. I also receive an email with the post so I have the opportunity to see what is being put out there on our behalf. I love that I can see the number of views and love counting the shares! I also like the mix of media in the posts and the inclusion of video.

For more information, please visit ace.rismedia.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com

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From:: Real Estate News

Portland, Seattle Take 2016 with Highest Home Value, Rent Appreciation

By Beth McGuire

Home values hit their stride in December, clocking in at the fastest annual pace of 2016 at 6.8 percent, according to the December Zillow Real Estate Market Reports. Portland, Ore., home values hung onto the top spot, appreciating 13.8 percent year-over-year.

“Home values ended 2016 growing at their fastest pace of the year, which could be an indication of what to expect in 2017,” says Zillow Chief Economist Dr. Svenja Gudell. “Lack of inventory will remain a major concern for homebuyers this year…lack of available entry-level homes, coupled with high demand, will continue to rapidly drive up home values in the near future. Buyers should make sure they get pre-approved for a mortgage, and be prepared to move quickly, especially in hot markets like Seattle and Portland. It’s not uncommon for buyers to make at least two offers during their home search.”

Dallas, Texas, Tampa, Fla., and Seattle, Wash., home values grew approximately 12 percent year-over-year, according to the Reports. The Zillow Home Value Index (ZHVI) is now $193,800, closing in on the highest value since April 2007.

Annual rent growth in December was 1.5 percent—a slower pace compared to the previous year. Seattle rents appreciated the most at 8.4 percent. The median national rent is now $1,403.

Inventory, according to the Reports, continues to decline, with inventory in Boston, Mass., and Minneapolis, Minn., falling the most in 2016.

For more information, please visit www.zillow.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Portland, Seattle Take 2016 with Highest Home Value, Rent Appreciation appeared first on RISMedia.

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From:: Real Estate News

Portland, Seattle Take 2016 with Highest Home Value, Rent Appreciation

By Beth McGuire

Home values hit their stride in December, clocking in at the fastest annual pace of 2016 at 6.8 percent, according to the December Zillow Real Estate Market Reports. Portland, Ore., home values hung onto the top spot, appreciating 13.8 percent year-over-year.

“Home values ended 2016 growing at their fastest pace of the year, which could be an indication of what to expect in 2017,” says Zillow Chief Economist Dr. Svenja Gudell. “Lack of inventory will remain a major concern for homebuyers this year…lack of available entry-level homes, coupled with high demand, will continue to rapidly drive up home values in the near future. Buyers should make sure they get pre-approved for a mortgage, and be prepared to move quickly, especially in hot markets like Seattle and Portland. It’s not uncommon for buyers to make at least two offers during their home search.”

Dallas, Texas, Tampa, Fla., and Seattle, Wash., home values grew approximately 12 percent year-over-year, according to the Reports. The Zillow Home Value Index (ZHVI) is now $193,800, closing in on the highest value since April 2007.

Annual rent growth in December was 1.5 percent—a slower pace compared to the previous year. Seattle rents appreciated the most at 8.4 percent. The median national rent is now $1,403.

Inventory, according to the Reports, continues to decline, with inventory in Boston, Mass., and Minneapolis, Minn., falling the most in 2016.

For more information, please visit www.zillow.com.

For the latest real estate news and trends, bookmark RISMedia.com.

The post Portland, Seattle Take 2016 with Highest Home Value, Rent Appreciation appeared first on RISMedia.

…read more

From:: Finance and Economy

Design for Days: 100 Years of Home-Building

By Susanne Dwyer

Abingdon_VA_1

Take a field trip to your hometown’s historic district and stroll the sidewalk. Blur the cars out of focus and it’s not hard to imagine what life looked like in decades and centuries past. It’s proof you don’t have to travel to a museum to get a glimpse of history—instead, you can live it every day when you own a home from your favorite decade.

To prove just how diverse American homes are, here’s a sampling of homes for sale on Trulia that showcases period home design and architecture styles from each decade, from 1900 through today.

The 1900s: $549,000, 337 Valley St. NE, Abingdon, VA 24210
Known to locals as “The Pink Lady,” this early Victorian home for sale has been refreshed with new appliances, but many of the original details have been preserved (like those beautiful mosaic glass windows leading from the dining room to the living room). From the gorgeous wraparound porch to the “gingerbread” trim, historical details are what make this 1903 home a standout.

The 1910s: $439,900, 15 Geneva St., Medford, OR 97504
Tucked behind lush landscaping on a cobblestone street, this 1914 craftsman bungalow in Medford, Ore., is a well-cared-for charmer. With original mahogany stain woodwork, box beam ceilings, and bird’s-eye maple and red fir floors, this home is a magnificent example of built-to-last elegance. Add in modern details like heated Carrara marble floors and a newly remodeled kitchen, and you’ll want to move right in!

Squirrel_Hill_PA_3

The 1920s: $788,000, 1228 Murray Hill Ave., Squirrel Hill, PA 15217
Built in Colonial Revival style, this imposing six bedroom-home sits on one of the most sought-after cobblestone streets in Pittsburgh, Pa. Built in 1920, the property includes a converted carriage house with a two car-garage and a one bedroom-apartment above. The main house features details such as hardwood floors, coffered ceilings, updated bathrooms and a remodeled kitchen. Don’t miss the dual staircases and the level backyard.

Rye_NH_4

The 1930s: $579,000, 415 Brackett Rd., Rye, NH 03870
It’s impossible to deny the all-American appeal of this cedar-shingled, 1,570-square-foot cottage in Rye, N.H. Sun shines through every window of the home, which is located just a few streets from the water. Built in 1935, it’s been updated with modern features such as granite countertops, ENERGY STAR® appliances and a jetted tub in the master bathroom.

Dallas_TX_5

The 1940s: $463,000, 8634 San Benito Way, Dallas, TX, 75218
Located in the funky Forest Hills neighborhood of Dallas, this three bedroom-home has been expanded and remodeled inside, while staying true to its original 1943 exterior. With hardwood floors, an open kitchen, and a private, fenced-in backyard, the …read more

From:: Real Estate News