“They say, ‘OK, good, now it’s my turn,'” said Cathy Prenner, an agent for Campbell and Rosemurgy in Lighthouse Point. Statewide, the median price for existing homes hit $175,000, up 19 percent from a year ago, the Florida Realtors said. Sales increased 13 percent.
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Housing market lifts Foxtons
It reflected the market boost from low interest rates, global economic optimism and Government sweeteners such as Help To Buy mortgage guarantees, analysts said. Joe Rundle at City financial firm ETX Capital said: The stock jumping to 280p in the first half hour of trade reflects just how investors feel. Foxtons sold 60 per cent of its equity to become the latest property firm to float after estate agent Countrywide and housebuilder Crest Nicholson earlier this year. The stock jumping to 280p in the first half hour of trade reflects just how investors feel Joe Rundle, ETX Capital The oversubscribed offering raised 335million for selling investors, including majority owner private equity group BC Partners and company staff. Chief executive Michael Brown stands to pocket 52.3million.
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Negative equity dropping as housing market improves
Homeowners with both a first and second read this mortgage (or a home equity loan or line of credit) are much further underwater than homeowners who only have a primary mortgage. Homeowners with one mortgage owe an average of $217,000 and are underwater by about $51,000. Homeowners with a first and second mortgage owe $292,000 and are underwater by an average of $75,000 according to the study. One cause for concern is that the study noted the bulk of home equity is concentrated at the higher end of the housing market. It provided this example: 91 percent of homes valued at greater than $200,000 have equity, compared with 80 percent of homes valued at less than $200,000. A homeowner who loses his or her job, and doesn’t have much equity in the home, may face foreclosure, whereas the homeowner who has equity might only have to sell the property to get out of financial jeopardy.
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