7 Housing Markets That Are Roaring Back

DAILY REAL ESTATE NEWS | TUESDAY, APRIL 16, 2013

The latest FNC Residential Price Index, an index created for the mortgage industry, recorded a 28-month high for home prices in February, the most recent data available. The index increased 6.1 percent — the fastest rate it's grown since July 2006. 

The index shows the strongest price momentum is occurring in Phoenix, where prices have surged nearly 30 percent in the past year.  

“The city’s rapid price climb is attributable to active investment purchase of distressed properties that has pushed up overall home prices,” according to FNC. 

Many of the hardest-hit markets during the housing crash are showing some of the strongest comebacks. The following housing markets have posted double-digit price gains in percentages year-over-year, February 2013 versus February 2012, according to FNC.

1. Phoenix: 29.3 percent

2. Las Vegas: 14.5 percent

3. Detroit: 13.1 percent

4. San Francisco: 12.3 percent

5. Denver: 11.3 percent

6. Sacramento: 10.8 percent

7. San Diego: 10.6 percent

Source: FNC Residential Price Index

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10 Top Markets for Investor Buyers

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If a Home Gets Hit by a Meteor, Who Pays?

DAILY REAL ESTATE NEWS | MONDAY, FEBRUARY 18, 2013

After a meteor struck western Siberia and more meteors threatened the entire globe on Friday, CNNMoney asked the question: Who pays for damage to a home if hit by a space object?

Rest easy, “your insurance covers falling objects," says Robert Hartwig, president of the Insurance Information Institute. In the rare events when meteors have crashed through home owners’ roofs over the years, insurers have paid the damage for those insured, Hartwig says. 

“Blue ice” — the frozen sewage that sometimes falls from airplanes — is more common and is also covered if it falls from the sky onto your home, Hartwig told CNNMoney.

A remnant of a meteor struck in the Urals region of western Siberia Friday injuring more than 700 people and damaging nearly 300 buildings. It was referred to as a “once-in-a-century” event. 

"The earth is pelted with 40 tons of space debris a year," says Laurie Leshin, a former NASA scientist. "Most of that is in teeny dust particles" and rarely does it injure people or damage property.

Source: “Who Pays for Damage From a Meteor?” CNNMoney (Feb. 15, 2013)

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Selling in the Martian Market

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