increase

Home closings increase in 2020 along coastal SC counties despite COVID pandemic | Myrtle Beach Business

Myrtle Beach Realtor Travis Muir put a condo up for sale in September at Blue Water Resort on Ocean Boulevard and within an hour, it was sold.

Not an every day occurrence, the realtor for The Hoffman Group admits. But, after all, it’s 2020 and anything can happen.

“The biggest thing is pricing it within realistic market price,” Muir said, adding 2020 has been his best year for sales, pushing nearly triple what he normally does.

“With this one being an investment property, the price point for the rate of return… I think one of the biggest things, too, is the interest rates are lower than they have been in a very long time. That gives people more incentive to go ahead and make that jump. They were thinking of buying in a two- or three-year window, but now with the interest rates so low, people are moving faster.”

Closed sales of single family homes and condos have increased along the southeastern coast of South Carolina, and real estate agents are pointing to low interest rates and the COVID-19 pandemic expediting retirement plans as the reason for the increase.

It has also caused a tight market for available single-family homes and condos, leading one real estate expert to call it the tightest market she’s seen in a decade.

The Coastal Carolinas Association of Realtors released a report that showed a gradual increase of closings from June to August.

Closed sales for single-family homes and condos rose from May to June by 6.7 percent, then by 22 percent from June to July and finally by 11.9 percent from July to August. 

The median sales price for single family homes dipped slightly in June to $242,995, and gradually grew to $260,000 in August. Condos increased from $145,000 in June to $161,500 in

Continue Reading

California wildfire destroys over 550 homes as fire crews increase containment, ‘turned the corner’

A wildfire burning in Northern California’s famed wine country has now destroyed over 550 homes, but officials said Monday they were hopeful as containment of the blaze increased overall.

Cal Fire said as of Tuesday morning the Glass Fire that’s burning in Napa and Sonoma counties has scorched some 66,840 acres and is now 50% contained.

“We have turned the corner on the fire as a whole,” Cal Fire division chief Ben Nicholls said during a briefing in Sonoma County.

CALIFORNIA WILDFIRE SURPASSES 1 MILLION ACRES AS AUGUST COMPLEX DUBBED ‘MEGAFIRE’

Over 2,700 fire personnel are involved in the battle against the blaze, with some 408 fire engines deployed in the fight against the two-county blaze, according to the agency.

“We are the priority for the state here,” Nicholls said Monday.

In this Sept. 28, 2020, file photo, houses leveled by the Glass Fire are viewed on a street in the Skyhawk neighborhood of Santa Rosa, Calif.

In this Sept. 28, 2020, file photo, houses leveled by the Glass Fire are viewed on a street in the Skyhawk neighborhood of Santa Rosa, Calif.
(AP Photo/Noah Berger, File)

The blaze has destroyed some 553 homes, with 297 in Sonoma County and 256 in Napa County that have been lost so far. The wildfire is still threatening over 21,000 structures, according to fire officials.

A firefighter runs past flames while battling the Glass Fire in a Calistoga, Calif., vineyard Thursday, Oct. 1, 2020.

A firefighter runs past flames while battling the Glass Fire in a Calistoga, Calif., vineyard Thursday, Oct. 1, 2020.
(AP Photo/Noah Berger)

The wildfire has also damaged or destroyed at least 18 wineries, with many locations reporting major damage.

“We have a little half an acre here that got pretty scorched,” Lisa Drinkward of Behrens Family Winery told KTVU.

A chimney stands at a Fairwinds Estate Winery building, which burned in the Glass Fire, on Thursday, Oct. 1, 2020, in Calistoga, Calif.

A chimney stands at a Fairwinds Estate Winery building, which burned in the Glass Fire, on Thursday, Oct. 1, 2020, in Calistoga, Calif.
(AP Photo/Noah Berger)

Nearly 3,000 people remain under mandatory evacuation orders in Sonoma County, while 13,000 are under warnings and may need

Continue Reading

Fiber Optics Market – Actionable Research on COVID-19 | Increase in the Number of FTTH Homes and Subscribers to Boost the Market Growth

The global fiber optics market size is poised to grow by USD 2.44 billion during 2020-2024, progressing at a CAGR of almost 5% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201005005444/en/

Technavio has announced its latest market research report titled Global Fiber Optics Market 2020-2024 (Graphic: Business Wire)

The increase in the number of FTTH homes and subscribers is the key factor driving the market growth. A higher number of customers are opting for fiber optic connections to leverage broadband services. This reduces the requirements for customer premises equipment (CPE) and distribution point unit (DPU).

Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio’s SUBSCRIPTION platform

Report Highlights:

  • The major fiber optics market growth came from telecom sector. The rise in FTTx applications has been a major driver for the telecom sector growth since it facilitates optical fiber connection for last-mile connections. The emergence of 5G communication technology will also be a major factor supporting the growth of the global fiber optics market in the telecom segment.

  • APAC was the largest fiber optics market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing number of telecom subscribers and the deployment of fiber optics in communications will significantly drive fiber optics market growth in this region over the forecast period.

  • The global fiber optics market is fragmented. CommScope Holding Co. Inc., Corning

Continue Reading

Bank of England seeks to increase competition in home loans

LONDON (Reuters) – The Bank of England (BoE) set out proposals on Wednesday to end unfair advantages some banks have in calculating how much capital to hold for mortgages in a bid to increase competition.

Some bigger banks can use their own internal models for determining the risk weightings and therefore capital levels for home loans they have granted.

Typically this has resulted in lower capital levels than under the so-called standardised approach to risk weightings set out by regulators that many smaller lenders have to use.

The BoE’s banks supervision arm, the Prudential Regulation Authority (PRA), said it wanted to reduce risks that stem from “inappropriately” low risk weightings that can be thrown up by in-house models.

“For those firms whose risk weights may increase as a result of these proposals, and where capital requirements are not already determined by other capital measures (e.g. leverage), there would be costs for the firm associated with the additional capital required,” the PRA said in a statement.

The proposals would narrow differences between in-house models and the standardised approach and limit future divergence, it said.

“The PRA considers that this would support competition between firms on the different approaches,” the PRA said.

Reporting by Huw Jones; Editing by Gareth Jones and Mark Potter

Source Article

Continue Reading

Home Renovation – Increase Your Profit Using Value Engineering

The concept of value engineering in renovation has never been more essential than it is today. At the start of 2009 we can still hear all sort of commotion about slow economy and troubles in the real estate market. All this should awaken renovators who are planning to increase the value of their homes, that a small miss-calculation or an over-renovation could easily destroy their profit or worse result in a complete loss.

Let me be clear, slow economy and slow real estate market does not mean that you can not remodel your home to increase its value. What it means is that you need to know what to renovate and how much to renovate in order to turn a good profit. At first sight this may seem simple; However, there is more involved than a simple question from your local renovator. To fully maximize your profit you need to understand value engineering in regard to home renovation.

Simply put value engineering in respect to home renovation is the process by which you analyze to determine what renovations will bring in the most profit for your home. Here we are going to quickly discuss the steps that must be taken to determine how to maximize your profit.

1) The first step in this process is to determine the market value of your home as well as market value of renovated homes similar to your home in your area. This is done to find out whether there is any room to profit. If the price for your un-renovated home is close to the price of a renovated similar home nearby, renovation could be a waste of time and money.

Remember, the key words are "similar homes" and "in your area". There is no point comparing your home that is built on …

Continue Reading