Eliza Seekamp
2011 has been a year of spectacular growth for the Ray White Group. We have welcomed a new office every 10 working days; culminating in 20 new businesses joining and starting up across the country. We have also effectively had 10 new business owners purchase existing Ray White offices.
Our Group stands at 131 offices with just over 1,180 salespeople, 220 property managers and 145 administrators. This year our sales turnover increased by 12%, which saw us transact $3.895 billion in property sales. Our property management portfolio has grown beyond 14,000 and our market share, particularly in the last quarter, has shown good growth across many of the areas we trade.
The number of sales that will occur within the industry will be 58,000 for the year and will be in line with 2010.
Read full article…
Dec
12
Mary Eatock
NEW DELHI: The government on Tuesday raised the housing loan ceiling for availing one per cent interest subsidy to Rs 15 lakh from existing Rs 10 lakh, a decision that will benefit borrowers by up to Rs 14,865 per annum. A meeting of the Union Cabinet approved the proposal to give one per cent interest subsidy for home loans of up to Rs 15 lakh provided the actual cost of the house is not exceeding Rs 25 lakh. Under a scheme introduced in 2009, home loan borrowers are getting one per cent interest subsidy on home loans of up to Rs 10 lakh, provided the cost of the house did not exceed Rs 20 lakh. “A budgetary provision of Rs 500 crore has been made for the financial year 2011-12 for implementing the scheme,” the Minister of State for Information and Broadcasting Ambika Soni reporters after the Cabinet meeting. Read full article…
Dec
12
Harry Bennetts
After a year of sinking home prices and flat sales, economists for the California Association of Realtors expect California’s struggling housing market will see only slight gains in 2012.
Sales of existing single-family homes next year will increase statewide by 5,100 units to 496,200 houses, compared to 2011, and the median home price — where half sell for more and half for less — will rise by $5,000 to $296,000. that means the median price will still fall shy of the 2010 median of $303,100, according to a forecast released Tuesday.
Read full article…
Dec
12
Eliza Seekamp
Foreclosure filings in November fell 14% when compared with last year according to the latest Realtytrac survey. Foreclosure filings include default notices, scheduled auctions and bank repossessions. In total, 224,394 homes received foreclosure filings.
The filing decline may seem like good news and surely its a welcome relief for many families, however behind the lower numbers is the reality that foreclosure activity has been delayed by the continuing inability of loan servicers to get their paperwork right. The robo-signing scandal which first slowed the market last winter continues to hobble foreclosure activity.
Read full article…
Dec
12