San Francisco, New York and Boston are the United States' most walkable cities, according to new rankings from a website that evaluates how easy it is to live in the nation's cities and neighborhoods without a car.
Walkscore.com, which uses an algorithm to identify those neighborhoods boasting the most amenities per person, published its ranking on Thursday and deemed San Francisco the most walkable city, with a "Walk Score" of 86 out of 100.
The ultimate goal is to see the site's scores included in property listings, said Mike Mathieu, founder of the company that created the site's software.
"What we see is someone calling up a broker and saying 'I want three bedrooms, two baths, a walkability score of 85, what've you got?"' Mathieu said.
Type an address, and the site generates a map showing the nearby grocery stores, cafes, movie theaters, schools and parks.
New York received a score of 83, Boston a score of 79.
Scores greater than 70 indicate neighborhoods where it's possible to get by without owning a car, while scores greater than 90 qualify communities as a "Walker's Paradise."
(Reporting by Helen Chernikoff)
Thursday, July 17, 2008
Wednesday, July 16, 2008
Home Buyers Hopeful About Market
An online survey of potential home buyers found that 44 percent believe the real estate market will improve once the new president takes office.
In the meantime, 81 percent say they remain nervous about the current market.
Respondents cite a variety of barriers to buying a home: 28 percent say they are stymied by the cost of a down payment; 20 percent are concerned about their income level, and 31 percent (39 percent in the West) say home prices are still too high.
Practical reasons motivate these potential buyers. A quarter say they need more space; 17 percent have gotten married, had a baby or experienced some other life-stage change, while 9 percent want to downsize.
Seventy-eight percent say they are willing to save or earn extra money for the down payment and are willing to compromise on amenities in their new home to make it more affordable.
In the meantime, 81 percent say they remain nervous about the current market.
Respondents cite a variety of barriers to buying a home: 28 percent say they are stymied by the cost of a down payment; 20 percent are concerned about their income level, and 31 percent (39 percent in the West) say home prices are still too high.
Practical reasons motivate these potential buyers. A quarter say they need more space; 17 percent have gotten married, had a baby or experienced some other life-stage change, while 9 percent want to downsize.
Seventy-eight percent say they are willing to save or earn extra money for the down payment and are willing to compromise on amenities in their new home to make it more affordable.
Tuesday, July 15, 2008
Top 10 Cities to Buy a Home
Financially, at least, the best places to buy houses are those where buying costs less than renting, tax incentives are attractive, and there’s an opportunity to build equity.
Forbes magazine surveyed the 40 largest metropolitan area housing metrics looking for cities where home prices have appreciated over the last two years. It also measured vacancy rates. And it gave extra points to cities where rents are significantly higher than a buyer would pay for the same home.
Texas dominated the magazine’s list because of its healthy job market and growing tax revenues.
Here are the 10 cities that topped Forbes’ best-places-to-buy list:
1-Houston
2-Austin, Texas
3-St. Louis
4-Philadelphia
5-San Antonio, Texas
6-Dallas
7-Charlotte, N.C.
8-San Francisco
9-Jacksonville, Fla.
10-Atlanta
Forbes magazine surveyed the 40 largest metropolitan area housing metrics looking for cities where home prices have appreciated over the last two years. It also measured vacancy rates. And it gave extra points to cities where rents are significantly higher than a buyer would pay for the same home.
Texas dominated the magazine’s list because of its healthy job market and growing tax revenues.
Here are the 10 cities that topped Forbes’ best-places-to-buy list:
1-Houston
2-Austin, Texas
3-St. Louis
4-Philadelphia
5-San Antonio, Texas
6-Dallas
7-Charlotte, N.C.
8-San Francisco
9-Jacksonville, Fla.
10-Atlanta
Friday, July 11, 2008
Freddie Mac- interest rates
Mortgage Rates Rise, Fall This Week
Freddie Mac reports a slight jump in the 30-year fixed mortgage rate to 6.37 percent during the week ended July 10, from 6.35 percent the prior week.
The five-year adjustable mortgage rate also moved up, climbing to 5.82 percent from 5.78 percent.
However, the 15-year fixed rate fell to 5.91 percent from 5.92 percent; and the one-year ARM was unchanged at 5.17 percent.
Freddie Mac reports a slight jump in the 30-year fixed mortgage rate to 6.37 percent during the week ended July 10, from 6.35 percent the prior week.
The five-year adjustable mortgage rate also moved up, climbing to 5.82 percent from 5.78 percent.
However, the 15-year fixed rate fell to 5.91 percent from 5.92 percent; and the one-year ARM was unchanged at 5.17 percent.
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