Purchasing power among Latinos in the U.S. rose to $1.1 trillion in 2011, a sign of continued growth in influence on the economy and housing market, according to a real estate trade group. The National Association of Hispanic Real Estate Professionals said many factors, including relative young age, population growth and increased incomes likely signal a heightened share of Hispanic homebuyers. Latinos saw purchasing power more than double...

Buying is more affordable than renting in 98 out of the nation’s 100 largest metropolitan areas — even in New York, Los Angeles and Boston, according to real estate company Trulia‘s rent vs. buy index. The index is based on asking prices for rental units and homes for sale on the company’s website between Dec. 1, 2011, and Feb. 29. “As rents rise and prices stagnate, homeownership is becoming even more affordable, but...

Do-it-yourself tiny homes is a growing niche among some who desire eco-friendly lifestyles, The Wall Street Journal reports. A series of new books are coming out next month that show aspiring home owners how they can build their own small home. “The appeal is that secretly most people would like to be in the country building their own little house,” says Jonas Kyle, an owner of Spoonbill & Sugargtown Bestsellers in Brooklyn,...

In many recent cases, new homes are being appraised for less than the cost of construction, according to the National Association of Home Builders. Builders are blaming flawed appraisals for holding back the housing market’s recovery. Builders say that new homes should not be compared to foreclosed homes that have sat vacant and are in disrepair. “The inappropriate use of distressed and foreclosed sales as comparables in determining...

In today’s housing market, there are many bank owned homes available that are well worth the bargain price tag. Not only are homes being sold for less, but mortgage rates are at historic lows. Getting an interest rate near 4% has never happened in the history of mortgage lending! Although there is some risk associated with purchasing an REO (Real Estate Owned by a bank due to a foreclosure), the bank is trying to cut their losses and...