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American Optimism Trends Higher as Home Buying Season Starts |
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As the market enters the spring homebuying season, more homeowners are beginning to think now is a good time to sell a home. According to the latest Fannie Mae National Housing Survey, the share of respondents who say it is a good time to sell a home esclated to 38% in March, up from 26% for the same period a year ago. Meanwhile, 52% of people believe it is easy to get a mortgage today, compared to 47% a year ago, matching the all-time survey high. On top of this, the share of people who say their personal financial situation improved during the past year reached an all-time survey high of 40%. |
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Vacation Home Sales Surge in 2013 |
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Vacation home sales rose strongly in 2013, according to the National Association of REALTORS. Vacation home sales jumped 29.7% to an estimated 717,000 last year, compared to just 553,000 in 2012. Vacation home sales accounted for 13% of all transactions last year, their highest market share since 2006. The median vacation home price was $168,700, up 12.5% over 2012. All cash purchases remained fairly common, with 38% of vacation home buyers paying cash. Of buyers who financed their purchase with a mortgage, vacation home buyers typically put down 30%. Forty-two percent of vacation homes bought last year were distressed homes. The typical vacation home buyer purchased a property that was a median distance of 180 miles from his or her primary residence. Eighty-seven percent of vacation home buyers want to use the property for vacations or as a family retreat; 31% plan to use it as a primary residence in the future. |
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The Roanoke Regions' "Best Of" |
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Thank you to the Roanoke Regional Partnership for bringing more and more attention to the Roanoke region. Here are the highlights of recent "Best Of" accolades: Blue Ridge Outdoors: #1 Trail Town Lumosity: Brainiest Cities NerdWallet.com: Salem - Best Cities for Young Families Gallup: Top 25% for Exercise and Low Obesity USA Today: 10 Beautiful Places to Run U.S. News: Best Regional Hospitals Forbes: Best Places for Career and Business Milken: Best Performing Cities |
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