Connect: Market News

This new law requires that all owners of one to four-unit residences that use oil heat must install a safety oil valve or a protective sleeve on their heating equipment. The typical cost for this installation ranges from $150 to $350. The benefits of this installation greatly outweigh the expense; an oil leak can cost thousands to clean up.

Read more about this new law that effects all homeowners at http://www.marealtor.com/content/bsr_law_ethics.htm?inCtx13pg=0&page_id=942&inCtx13news=18&inCtx13view=42&site_id=1&minor=1&major=1&inCtx13order_by=S:%5bstart_date%5d%20desc&inCtx13news_id=1654.

"Luxury is the best performing segment of the housing market right now," says Zillow.com's chief economist.

Read more at http://realtormag.realtor.org/daily-news/2011/09/21/luxury-real-estate-market-picks-up.

Check out Allegrone Home Builders high-end luxury homes currently for sale at http://www.allegronere.com/properties/tag/Construction.

Pending home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year, according to the National Association of REALTORS®.

The Pending Home Sales Indexrose 8.2 percent to 88.8 in May from an upwardly revised 82.1 in April and is 13.4 percent higher than the 78.3 reading in May 2010. The data reflects contracts but not closings, which.....

Green building and products continue to gain traction in real estate, and some of the latest “green” products not only are helping home owners trim energy bills but also making their homes work smarter.

Back in December 2010, mortgage rates reached 4.61% or lower for a 30-year mortgage. For the fifth straight week in 2011, mortgage rates have, once again, inched their way down, mirroring the rate back in December 2010, according to reports by Freddie Mac in its weekly market survey.

 During the spring and summer seasons is the most popular time for potential home buyers to purchase a new home, especially with the mortgage rates taking another plunge. As interest rates continue to fall, the mortgage applications continue to rise. According to the Mortgage Bankers Association on realtors.org, the mortgage loan application volume has increased almost 8% last week, while those refinancing have also increased about 13% over the prior week.

 Read the full article on http://www.realtor.org/RMODaily.nsf/pages/News2011052001?OpenDocument.