Mortgage Default Risk Nears Ten Year Low
Tough lending standards have cut the risk of mortgage defaults lower than they have been in nearly a decade, but high unemployment is making it premature to declare victory in the mortgage crisis.
Bank Crack Down Bolsters Foreclosure Inventory
Thu, Jun 13, 2013
Investors desperate for foreclosures to buy got a break in May as banks cracked down on overdue defaulters, increasing starts and repossessing homes occupied by defaulters.
Recovery Speeds Homeowners to Positive Equity
Wed, Jun 12, 2013
Four times more homeowners returned to positive equity in the first quarter of year as the recovery drove home values higher across the nation.
Investors Cautioned On Hottest Markets
Mon, Jun 10, 2013
In some markets--many of them in California--the home price rebound has pushed prices above their EHP level, which should be a caution sign for investors seeking to make money in a quick re-sale, according to the latest HomeVestor/Local Market Monitor Best Market Ratings for investors.
Investors Plan to Reduce Purchases
Mon, Jun 10, 2013
Real estate investors are responding to higher prices by buying fewer properties in the next 12 months and holding their rental properties at least five years or longer, according to a national survey of real estate investors conducted by ORC International for MemphisInvest.com and Premier Property Management Group.
“A Bit of a Surprise”: Foreclosure Sales Fell 18 Percent in Q1
Thu, May 30, 2013
Foreclosure sales dropped dramatically first quarter. A total of 190,121 properties that were in some stage of foreclosure or were bank-owned (REO) were sold during the second quarter, a decrease of 18 percent from the previous quarter and down 22 percent from the first quarter of 2012.
One-third of Buyers on Market More than a Year
Thu, May 30, 2013
You've heard of days on market for a listing? How about a year on market for buyers? A new survey found that one out of three buyers has been looking for a home for more than a year and now they are ready to grovel.
Case-Shiller Double Digits the Critics
Tue, May 28, 2013
Just as the volume of concern was growing that the recovery would be short-lived, Case-Shiller reported double digit price increases in all three of its composites, which posted their highest returns in seven years.
Ratio of Sold to List Prices Shows Inventory Shortages Driving Price Hikes
Tue, May 21, 2013
The Sold-to-List Price Ratio, one of the leading market indicators for predicting home prices, is helping analysts predict home prices in markets with varying economic condition, shortages of available housing inventory and its impact on home prices. Pro Teck Valuation Services' May Home Value Forecast (HVF) Update analyzes the Honolulu, Tucson, San Francisco, and Chicago metro areas to determine how the indicator has been useful from a historical perspective and in current market conditions.
Foreclosures: It’s all Downhill From Here
Mon, May 20, 2013
The supply of foreclosed homes and REOs has been shrinking by 20 percent or more for the past few years and now a noted columnist covering mortgages reports foreclosures have probably already peaked and now are in decline.
Flower Power Doesn’t Pay
Mon, May 20, 2013
The Appraisal Institute recently advised that landscaping can make a significant difference a home’s value.
RE/MAX: Monthly Inventory Rises for First Time in 33 Months
Thu, May 16, 2013
The number of homes for sale in April inched 1.6 percent higher than in March, the first month-over-month inventory increase since June 2010, according to the April RE/MAX National Housing Report.
New Listings Cool California Hot Spots
Tue, May 14, 2013
In the several California markets that have seen soaring prices and historically low inventory levels during this spring buying season, a flood of new listings drove inventories up. The increasing inventories are helping to moderate price increases in the hot markets. In Sacramento, for example, list prices actually declined on a monthly basis.
Mortgage Originations Fell 6.2 Percent in Q1
Mon, May 13, 2013
Despite the housing recovery and home sales running 10.3 percent above the level of a year ago, mortgage originations are falling, signaling weakening refinancings.
Despite Sellers’ Markets, Seventy-one Percent Still Say it’s a Good Time to Buy
Wed, May 8, 2013
Home prices are rising at double digit rates. Inventories are at historic lows. Two out of five applicants for a purchase mortgage are rejected. Yet nearly three quarters of Americans say it's a good time to buy a home.
Survey of Economists Finds Fears of New Bubble
Tue, May 7, 2013
More than 100 forecasters in a national survey said they expect the home values to reach an average of 5.4 percent year-over-year and that current Federal Reserve policies post some risk of re-inflating the housing bubble.
Prices Soar at Boom Speed
Tue, May 7, 2013
March home prices rose at double digit rates-increasing faster than they have in seven years-and the outlook is nearly as good for April.
Positive Equity is Driving Down Defaults
Mon, May 6, 2013
Homeowners with positive equity in their homes have fewer problem loans and are outperforming the national average for defaults. Their default rates are close to pre-crisis norms.
Housing Costs Rose for Working Families During Housing Bust
Fri, May 3, 2013
Despite falling mortgage interest rates and home prices from 2008 to 2011, severe housing cost burdens remained stable but high for working families who own their homes while more than one in four working renter households (26.4 percent) spent more than half of their income on housing costs in 2011-an increase of more than three percentage points since 2008.
Home Prices Reach 2003 Levels; Every Case-Shiller Market Posts Yearly Gain
Tue, Apr 30, 2013
Data through February 2013, released today by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, showed average home prices increased 8.6 percent and 9.3 percent for the 10- and 20-City Composites in the 12 months ending in February 2013. The 10- and 20-City Composites rose 0.4 percent and 0.3 percent from January to February.
Title Business Boomed in 2012
Fri, Apr 26, 2013
The 9.2 percent jump in home sales last year and record refinancings translated into a 21 percent increase for the nation's title industry and $504 million in profits.
Nearly Half of Homeowners Don’t Know Their Flood Risk
Wed, Apr 24, 2013
Despite extensive media coverage of the widespread, multistate flooding caused by Superstorm Sandy last fall and Hurricane Irene in the summer of 2011, 1 in 5 homeowners is still surprised to learn that home insurance does not cover flooding, according to a Bankrate nationwide survey as part of the April Financial Security Index.
Appraisers say “Show me the Equity”
Wed, Apr 24, 2013
Slightly over half of appraisers in a recent survey expressed a degree of confidence in the housing market and nearly half reported appreciating home values in their markets.
Couples Choose Homes Before Honeymoons
Tue, Apr 23, 2013
In these times when starter homes are so hard to find and homes are selling in a day once they are listed, more and more young couples are rushing to the closing table before they make it to the altar.
Apartment Markets Still Look Good
Fri, Apr 19, 2013
Neither an upswing in home sales nor a wave of new multifamily construction is affecting apartment vacancy rates so far this year. Rates are down and rents are strong across the nation. Apartment markets improved across all areas according to the National Multi Housing Council’s (NMHC) April Quarterly Survey of Apartment Market Conditions. All four [...]
Agents Demand Faster Closing Times
Mon, Apr 15, 2013
Most real estate agents want mortgage originators to close their home buyers' mortgages in 30 days or less-50 percent faster than the national average closing time-according to a new national survey released today.
Altos: No Sign of Single Family Rental Weakness. Yet.
Fri, Apr 12, 2013
Rents in major investor markets are showing no sign of weakness despite expectations that the housing recovery will put pressure on single family vacancy rates, according to a report by the CEO of Altos Research.
Foreclosure Processing Time at New High
Thu, Apr 11, 2013
In the first quarter, it took nearly 16 months to process the average foreclosure in America, a new record and an increase of 14 percent over the fourth quarter of 2012.
Investor Bloat Flattens Single Family Rents
Thu, Apr 4, 2013
Nearly 4 million more single-family homes have been added to the rental market since 2005. This new supply has fully caught up with the increased rental demand during the housing crisis - causing single-family home rents to flatten nationwide.
Western States Drive Record Double Digit Price Increases
Wed, Apr 3, 2013
Five Western states with the highest home price appreciation in February, Nevada (+19.3 percent), Arizona (+18.6 percent), California (+15.3 percent), Hawaii (+14.6 percent) and Idaho (+13.5 percent), led the nation to the biggest price increase in seven years.
Did Real Estate Investing Peak Last Year?
Tue, Apr 2, 2013
Have real estate investments peaked? After years of growth during the Foreclosure Eva, investment purchases declined slightly last year after surging 64.5 percent in 2011. With the cost and competition to buy distress sales growing and prices for normal homes rising, will investors pull back and start cashing in their assets?
Luxury Market Ready to Switch to Sellers
Tue, Apr 2, 2013
The highest tier of homes for sale, which has been the last part of the market to feel the effects of the housing recovery, is on the verge of switching from a buyers' to a sellers' market for first time in years.
Foreclosure Inventory Ballooned in First Quarter
Thu, Mar 28, 2013
The inventory of properties in the foreclosure process expanded by nearly 10 percent in the first quarter, casting a pall over the housing recovery as local markets prepare for more foreclosures than expected. However, a high level of demand driving by investor activity may mitigate their impact.
Buying a Home Called a “Foolish Mistake”
Thu, Mar 28, 2013
Buying a house make a national list of the most foolish mistakes American adults feel they have made, according to a survey released to coincide with April Fools' Day.
Hispanic Real Estate Professionals Attack Investor-favored Policies
Thu, Mar 28, 2013
Last week the National Association of Hispanic Real Estate Professionals called on lawmakers in Congress and government officials to reverse investor-favored policies that have created an imbalance in housing inventory and unfavorable conditions for Hispanics and other first-time homebuyers.
Foreign Investors Could Be Freed To Invest In US Real Estate
Tue, Mar 26, 2013
Obama's budget could provide tax relief to investors from overseas who want to invest in American real estate. Obama has long discussed the need for investment in infrastructure from both the public and private sector, and he believes that inflows from overseas could bring in some of the capital he would like to see.
The Shadow Inventory is Slowly Disappearing
Tue, Mar 26, 2013
Florida, California, New York, Illinois and New Jersey were home to four out of ten distressed properties in the nation in January, an indication of how far east America's foreclosure nightmare has moved
Case-Shiller: 2012 Price Hikes Matched the Boom Years
Tue, Mar 26, 2013
Home prices increased more in 2012 than they have since have since the summer of 2006 in both of the S&P/Case-Shiller Home Price Indices.
Fear Motivates First-Time Homebuyers
Mon, Mar 25, 2013
Worried about predictions of rising mortgage rates, additional increases in home prices and new costs for FHA borrowers, first-time homebuyers are kicking off the spring buying market in years, despite skimpy inventories and late winter weather across much of the nation.
Experts See Home Values Outpacing the Boom
Mon, Mar 18, 2013
A nationwide panel of 118 economists, real estate experts and investment and market professionals expects home values to end 2013 up an average of 4.6 percent and rise cumulatively by 22 percent, on average, over the next five years, according to the first quarter Zillow Home Price Expectations Survey.
Michigan, Florida Markets Top List of Most Dangerous for Investors
Thu, Mar 14, 2013
Thirty-eight real estate markets have been tagged as "dangerous" for investors looking to make money on buying homes as rental properties in new quarterly data compiled by HomeVestors of America (known as the "We Buy Ugly Houses®" company) and Local Market Monitor.
Home Values Down 27 Percent from Peak
Thu, Mar 14, 2013
Property values in January were 5.7 percent higher than they were a year ago, but they still have a long way to go to regain the equity that has been lost in the past six years.
Changes Underway in Reverse Mortgages
Thu, Mar 14, 2013
While reverse mortgages have helped thousands of homeowners, changes are in store as the result of losses suffered by the Federal Housing Administration, which guarantees most reverse mortgages. As a result, reverse mortgages are going to be less generous in years to come. FHA recently announced major changes to the popular loan program.
Agents More Bullish on Prices than Sales
Wed, Mar 13, 2013
Real estate professionals are more optimistic that prices will increase this year than they were last year, but they're less enthusiastic about the outlook for sales increases in 2013 than they were in 2012.
Movoto: Big Drop in Days on Market
Mon, Mar 11, 2013
Just as the clock ticks down on the launch of the 2013 buying season, the Movoto mega site reports that in February days on market has dropped dramatically in its market footprint, which is heavily dominated by California markets.
Zillow Agrees: Inventory Crunch Easing
Fri, Mar 8, 2013
Two days after rival web site Trulia announced it had detected signs that the year-long decline in inventories was slowing, Zillow said that the crunch could be beginning to ease somewhat.
Home Prices Expected to Rise at least 3.3 Percent Annually though 2017
Mon, Mar 4, 2013
The housing recovery is expected to grow at an annualized rate 0.6 percent through the third quarter of this year, then gain momentum and prices are projected to grow 3.7 percent between the third quarters of 2013 and 2014 until settling down to 3.3 percent annual increases over the next three years according to Fiserv, a financial services technology provider using data from the Federal Housing Finance Agency (FHFA).
Short Sales Soared While Foreclosures Fell
Thu, Feb 28, 2013
RealtyTrac reported today 947,995 U.S. properties in some stage of foreclosure or bank-owned (REO) were sold during the year, a decrease of 6 percent from 2011 and down 11 percent from 2010.
It’s Official! Prices Increased a Lot Last Year
Wed, Feb 27, 2013
The major national home price reports agree on trends but never agree on numbers because their data comes from different places and are manipulated differently to create the most accurate results. Yesterday S&P Case-Shiller announced 20012's gain was 7.3 percent. The federal government's index showed a 5.5 percent gain.
Saving Money on Homeowners Insurance
Tue, Feb 26, 2013
Mortgage lenders require borrowers to carry homeowners insurance not because they are concerned about your home. They make you pay to protect the asset that guarantees your mortgage.
Single Family Renters More Likely to Stay in Place
Mon, Feb 25, 2013
Single family home tenants are 18 percent more likely than apartment tenants to stay in their current homes five years or longer, suggesting that demand for single family homes, the fastest growing rental category, will be more stable than multifamily demand, according to a new national opinion survey released today by Premier Property Management Group.
Investors Outspent Lenders and Homeowners to Rehab Foreclosures
Fri, Feb 22, 2013
Expenditures on foreclosures and short sales drove the remodeling market in 2011, as investors spent more to rehabilitate each foreclosure they purchased to flip or rent than either lenders or owners who bought foreclosures to live in. However the rental share of overall spending on improvements has been shrinking since the housing bust.
January Inventories Fell 25 Percent Below 2012
Thu, Feb 21, 2013
How far can inventories fall? The latest existing home data suggests we have yet to find out because they are still in freefall just two months before the spring buying season nears. Will sellers warm up in time to populate the MLSs with enough listings to get buyers excited? Or will the inventory drought drive buyers away at the most important time of the year for housing markets?
Student Loan Debt Won’t Hamper Homebuyers
Mon, Feb 11, 2013
The rise in student loan debt is certainly a cause for concern, but may not be a significant a drag on young home buyers since the typical borrower has not seen a significant jump in the amount of debt incurred and seems to have a manageable monthly payment.
Real Estate News Turns Positive
Mon, Feb 11, 2013
For the first time in years, the American public is hearing more good news than bad news about real estate values first time, as many say they are hearing mostly good news (25%) as bad news (24%) about real estate values.
Sellers Awaken and Buyers Accelerate
Thu, Feb 7, 2013
The percentage of customers signing offers in January increased by 12 percentage points according to a leading brokerage and 23 percent of Americans think it is a good time to sell compared to 11 percent the same time last year, according to Fannie Mae's January 2013 National Housing Survey results.
Housing Recovery Hits a December Speed Bump
Tue, Feb 5, 2013
Home prices in January were unchanged from December and they barely remained in the black compared to a year ago, but rebounded in January, according to the most current national market report.
Florida Markets Still the Best Places to Buy Foreclosures
Thu, Jan 31, 2013
Hot foreclosure markets have come and gone over the past seven years but one thing seems to stay the same. The markets with the most and the cheapest foreclosures are still located in Florida.
Case-Shiller Downplays the Doubters
Tue, Jan 29, 2013
Weak prices in a number of late fall markets as evident in NAR's latest pending sales index has been causing concern in the real estate circles, but Case-Shiller, the final word on prices, downplayed the doubters today.
Saving Money on Homeowners Insurance
Tue, Jan 22, 2013
Mortgage lenders require borrowers to carry homeowners insurance not because they are concerned about your home. They make you pay to protect the asset that guarantees your mortgage.
Housing Starts Make Fitch a Believer
Fri, Jan 18, 2013
Just two weeks after declaring home prices are overvalued by 10 percent, Fitch Ratings said yesterday that December's solid single family housing starts and an unexpected jump in multifamily starts are clear signals that 2013 should begin strongly for U.S. housing.
Foreclosure Supply Plummeted in November
Thu, Jan 3, 2013
Completed foreclosures fell 23 percent in November compared to a year ago and the national foreclosure inventory declined 18 percent from November 2011, from 1.5 to 1.2 million properties as demand from investors kept local inventories low.
National Foreclosure and Shadow Inventories fell by a Total 500K in 2012
Wed, Jan 2, 2013
The current residential shadow inventory as of October 2012 fell to 2.3 million units, representing a supply of seven months. The October 2012 inventory level fell 12.3 percent from a year earlier, when the shadow inventory stood at 2.6 million units.
Choosing the Right Agent
Tue, Jan 1, 2013
Buying a home is a huge step in life. It's a big accomplishment, along with adding a sense of security in knowing that you own your own home. But the process of buying a home can be tough and exhausting, and it usually is stressful for even the calmest individuals. One of the best ways to make home buying easier is by having the right Realtor.
2012 Prices End With a Whimper
Mon, Dec 31, 2012
As the year draws to a close, the median asking price for listings has fallen to just 2.6 percent above the level of a year ago, significantly below the year-over-year high for the year of 3.8 percent recorded in April on the housetracker.net database.
Biggest Losers are Now the Biggest Winners
Wed, Dec 26, 2012
Markets that fell hardest during the housing crash five years ago today are racking up the biggest year over year gains as the prices in the nation as a whole through October exceeded analysts' forecasts. Housing markets that were on their knees just a year or so ago from foreclosures and low employment today are seeing prides rise much faster than cities that never felt the housing crash, according to the latest S&P/Case-Shiller Home Price Indices.
New Home Construction is Still Only 40 Percent of Normal
Fri, Dec 21, 2012
Single family home construction, the largest segment of the nation's home building industry, is operating at only 40 percent of its normal capacity despite a healthy improvement in starts and production over last year
Homeownership Seen Threatening New Apartment Construction
Thu, Dec 20, 2012
Record housing starts, bolstered by multifamily construction, is a sign that demand may not keep up with capacity and strengthening homeownership will threatening the boom in multifamily construction, according to one of the nation's leading ratings services.
Buyers Grow More Worried Over Prices
Mon, Dec 17, 2012
Nearly three quarters of potential buyers believe home prices will increase in their neighborhood in the next twelve months, twice as many as in the first quarter.
Top Lenders Clear out Foreclosure Inventories in Non-judicial States
Fri, Dec 14, 2012
Among the five lenders involved in the National Mortgage Settlement - Bank of America, Wells Fargo, JPMorgan Chase, Citi and Ally/GMAC - non-judicial pre-foreclosure activity (NOD, NTS) decreased 41 percent in November compared to a year ago, led by Bank of America with a 63 percent decrease and Citi with a 40 percent decrease. Meanwhile judicial pre-foreclosure activity (LIS, NFS) for the five lenders combined increased 26 percent from a year ago, led by Chase with a 114 percent increase and Wells Fargo with a 37 percent increase.
Freddie Mac Economist Sees New Households Outpacing Apartment Boom
Tue, Dec 11, 2012
In his 2013 forecast, Freddie Mac's chief economist, Frank Nothaft, sees more than a million new households bolstering housing starts, driving apartment vacancy rates down to ten year lows and outpacing the boom in new apartment construction.
Using YouTube as an Effective Marketing Tool
Fri, Dec 7, 2012
There are plenty of companies that effectively use many different kinds of social media. Whether it's interacting with customers on Twitter, or posting interesting information on Facebook, lots of companies do a great job of keeping customers engaged. Often though, many companies fail to use YouTube as a marketing tool. It's perplexing, because there are so many plusses to having a YouTube account yet so many marketing departments fail to use YouTube.
Short Sales Overtook REO Sales in Q3
Thu, Dec 6, 2012
For the first time ever, sales of properties in some stage of foreclosure (largely short sales) outnumbered sales of bank-owned properties (REO) in the third quarter, as short sales continue to gain market share at the expense of REO and sales of completed foreclosures at auction.
CoreLogic: Prices on Track for 7.1 Percent Increase
Tue, Dec 4, 2012
October prices nationwide, including distressed sales, increased on a year-over-year basis by 6.3 percent in October 2012, the biggest increase since June 2006 and the eighth consecutive increase in home prices nationally on a year-over-year basis, according to the latest data from CoreLogic.
Fitch: Regional Problems Hamper Recovery
Fri, Nov 30, 2012
In addition to banks' tight mortgage lending standards that were criticized by Federal Reserve Chairman Ben Bernanke two weeks ago, Fitch also said continued recovery in residential real estate prices will require regional improvements.
Investing in a Bad Economy
Wed, Nov 28, 2012
With our economy finally recovering from a terrible recession and the possibility of another financial collapse in the coming months, it can be difficult to decide whether or not to invest. Is investing during a bad economy good, or bad?
House Poor: Just Another Learning Experience
Tue, Nov 27, 2012
Have you ever had that free-falling feeling, like someone has blindfolded you, pushed you out of an airplane door at 5,000 feet and all you can do is scream at the top of your lungs and wonder how long it will take before you hit the ground?
Where Did the First-time Buyers Go?
Tue, Nov 20, 2012
With record low interest rates and affordable prices, this was to be the year of the first-time home buyer. Instead, first-timers' market share has fallen from 39 percent of existing home sales last year to 31 percent in October. What happened?
Recovery Softens as More Markets End Year with Annual Price Decline
Mon, Nov 19, 2012
Over the past few months, the number of markets experiencing year-over-year price declines has steadily increased, while the number experiencing list price increases has steadily declined. Compared to one year ago, a higher number of markets are ending the year with a year-over-year price decline (44 in 2012 vs. 36 in 2011) and a lower number of markets have a year-over-year price increase (71 in 2012 vs.84 in 2011).
Sandy States Get Clobbered with Foreclosures
Thu, Nov 15, 2012
New Jersey , New York and Connecticut got hit with a storm of new foreclosures just days before Superstorm Sandy smashed homes and a knocked out power to missions of homeowners.
Consumer Confidence in Buying a Home Rises to Four Year High
Tue, Nov 13, 2012
The latest research on consumer confidence shows that consumers' forward-looking view of the economy is at its highest level since the onset of the recession, including interest in buying a new home, which is at its highest level since the recession.
Competition Drives Down Foreclosure Discounts
Fri, Nov 9, 2012
The national average discount on foreclosures has shrunk by 1.4 percentage points over the past year as competition for foreclosures as inventories tighten is driving prices closer to full-price properties.
October Prices Lag in the Midwest
Thu, Nov 8, 2012
Price growth was strong in every region in October, including the Northeast where prices rose more than any other region. However, Midwest prices continued to trail the nation as the recovery is still fragile in the nation's heartland.
October Prices Seen Rising to Six Percent Annually
Tue, Nov 6, 2012
CoreLogic's pending sales index indicates that October prices will rising by 5.7 percent on a year-over-year basis from October 2011 and falling by 0.5 percent on a month-over-month basis from September 2012 as sales exhibit a seasonal slowdown going into the winter.
Rentals Create Need for Space
Mon, Nov 5, 2012
With the latest surge in both single and multifamily rentals, individuals and families on the move, finding extra space can be a challenge.
House Poor: The Landlord’s Prayer
Mon, Nov 5, 2012
Believe me, the last thing in life I ever wanted to be was a landlord. The thought of it reminds me of the old silent movies tying his poor tenant to a railroad track as she screams, "No, I can't pay the rent!"
New Credit Risk Scoring Promises to Qualify More Borrowers
Tue, Oct 30, 2012
Evidence is growing that more borrowers will be approved for a mortgage without increasing risk to lenders through more sophisticated credit risk scoring that uses alternative data, such as unsecured credit and property history in consumer credit report analysis, according to a new report by the CEB TowerGroup.
Sandy’s Surge Seen Causing $67 Billion in Damage
Mon, Oct 29, 2012
CoreLogic today warned that storm surges generated by Hurricane Sandy could ruin more than 210,000 homes valued at over $67 billion among the coastal Mid-Atlantic states as the storm makes its way inland today and tomorrow.
California Condo Listed for a Dollar
Tue, Oct 23, 2012
Condo values in pricey Mountain View, CA could take a dip Thursday when Realtor Ken DeLeon lists a property for one dollar to initiate a bidding war for the property, with a deadline of Thursday, November 8th.
Fannie: Sales Up 9 Percent in 2012
Thu, Oct 18, 2012
Fannie Mae’s economists expect total home sales to rise approximately 9 percent this year from last year’s depressed levels.
High Prices Still Lock Middle Class out of Top Cities
Wed, Oct 17, 2012
A median-income household can only afford a median-priced home in 14 of the 25 largest metropolitan areas in the U.S., according to research released today by Interest.com, a Bankrate company. Detroit, Atlanta and Minneapolis are the most affordable metropolitan areas and San Diego, New York and San Francisco are the least affordable.
RE/MAX: Inventories Have Fallen for 27 Months
Tue, Oct 16, 2012
Month-to-month inventories have now fallen for 27 consecutive months, according to the monthly RE/MAX National Housing Report. Inventory was 29.1 percent below September 2011 and may have contributed to the drop in sales from August.
Fitch Raises Housing Forecasts for 2012 and 2013
Mon, Oct 15, 2012
Year-over-year gains for single-family starts and new home sales have been sustaining the momentum of earlier this year and new homes and existing home sales have also been advancing. Year-to-date U.S. housing metrics are well above 2011 levels, according to Fitch Ratings.
Shadow Inventory Haunts Backlogged States
Tue, Oct 9, 2012
The shadow inventory of foreclosures fell in July and the flow of new seriously delinquent loans into the shadow inventory has been roughly offset by the equal volume of sales, but large numbers of potential foreclosures still linger in five states where processing timelines are much longer than the national median.
Homeowners Recover 13.5 Percent of Lost Equity Through Q3
Fri, Oct 5, 2012
Rising home values have brought homeowner equity to its highest level since the third quarter of 2008 and helped lift 1.3 million families above water. Homeowner equity jumped $406 billion, or 5.9 percent, to $7,275 billion in the second quarter of 2012, according to the Obama Administration's September Housing Scorecard.
Foreclosure Backlog Shrinks
Thu, Oct 4, 2012
The long-feared backlog of foreclosures that accumulated during the Robogate processing slowdown in 2010 and 2011 has declined further as the number of new foreclosures dwindled in August and completed foreclosures are being quickly absorbed in markets hungry for discount priced distress sales.
California Prices Seen Rising 5.7 Percent Next Year
Wed, Oct 3, 2012
California's housing market will continue to recover in 2013, as home sales are forecast to increase for the third consecutive year and the median price to rise for the second straight year, according to the California Association of Realtors' 2012 forecast.
Agents Still More Positive than Owners
Wed, Oct 3, 2012
Real estate professionals continue to be more optimistic about the direction of home values than homeowners. Fifty-one percent of real estate professionals expect home values to increase, up from 48 percent from last quarter. Thirty-four percent of homeowners expect home values to increase, up from 27 percent last quarter.
Time is Running Out for Short Sale Tax Break
Wed, Oct 3, 2012
In three months, short sales may screech to a halt unless legislation is extended that allows sellers to avoid paying taxes on the amount of their mortgages that lenders forgive when then sell their homes.
Selling in a Changing Economy
Tue, Oct 2, 2012
As the housing economy makes incremental progress, people are becoming more confident about job prospects and taking on new mortgages.
States That Lost the Most are Gaining the Most
Tue, Oct 2, 2012
States that lost the most home value during the housing depression, until recently largely hotbeds for discounted foreclosures and short sales, today are leading the nation in price gains.
Housing Economists Hate the MID
Wed, Sep 26, 2012
The latest quarterly survey of housing economists and experts, which generally focuses on economic issues like price expectations, came up with a surprising result. As the final days of the Presidential and Congressional elections draw near, most participants said they would be happy to get rid of the crown jewel of housing policy, the mortgage interest deduction.
The Election is Tanking Home Sales
Fri, Sep 21, 2012
One more reason real estate professions should fear presidential elections came to light in a new survey by the MortgageMarvel web site: as many as one out of four buyers is sitting on their hands to see who wins.
Real Estate Investors are Bullish on the Near Term
Thu, Sep 20, 2012
Despite rising prices and shrinking foreclosure inventories, 65 percent of active real estate investors plan to buy as many or more residential properties in the next 12 months as they did in the past year, according to a new joint BiggerPockets.com/Memphis Invest national survey conducted by ORC International for BiggerPockets.com, the nation's largest and most active real estate investing social network, and Memphis Invest, one of the nation's leading providers of single-family rental real estate investment services.
House Poor: A New Lease on Life
Sat, Sep 15, 2012
There are many advantages to living in a neighborhood known nationwide as the Chernobyl of American real estate. Movie directors like our barren, graffiti-decorated streets for post-Apocalypse scenes and zombie movies. You can park anywhere and so many stores keep closing that there are sales galore. You never have to worry about irresponsible neighbors who borrow things and forget to return them. Except for the occasional teen-age all-night rave party in a rotting foreclosure, there's lots of peace and quiet around the clock.
Foreign Buyers are Staying Home
Thu, Sep 13, 2012
Rising prices, disappearing bargains and economic troubles at home are quickly thinning the ranks of foreign property buyers. Who, just a few months ago, were being hailed as a major force in Florida markets and other resort destinations.
Four Years Make a Big Difference for Homeowners
Sun, Sep 9, 2012
More than 61 percent of respondents who purchased their home four years ago say they are as well or better off than they were four years ago, answering the quadrennial question asked every election season.
July Price Increase Matches Boom Levels
Tue, Sep 4, 2012
Home prices nationwide, including distressed sales, increased on a year-over-year basis by 3.8 percent in July 2012 compared to July 2011. This was the biggest year-over-year increase since August 2006.
State Foreclosure Laws Create Temporary Artificial Rebounds
Thu, Aug 30, 2012
Foreclosure activity patterns are varying significantly from state to state, often hinging on the level of dysfunction that exists in each state's foreclosure process, reported RealtyTrac yesterday. Recent legislation and court rulings could lengthen the foreclosure process in some of the states with the shorter timelines, however, resulting in a temporary foreclosure lull and subsequent rebound in those states as well, said Daren Blomquist, Vice President of RealtyTrac.
Rising Prices Are Driving Out Investors
Tue, Aug 28, 2012
Investor participation in the housing market dropped sharply in July, establishing a two-month trend and showing a clear reversal of long-term growth in investor purchases of residential properties, according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
Negative Equity Still Cripples Young Families
Thu, Aug 23, 2012
Despite rising home values that are freeing homeowners from negative equity, nearly half of all homeowners under 45, many of whom have young, growing families in need of more space, are still frozen in place because they are underwater on their mortgages.
Home Values Fall, Rents Rise
Tue, Aug 21, 2012
Both home values and rents rose on a national basis from June to July, but in several major markets where demand for homes remains lower, rents increased more than the national median.
RE/MAX: Falling Inventories Turn from Friend to Foe
Mon, Aug 20, 2012
Dwindling inventories are now less than three-quarters the size that they were a year ago, according to the latest national report from RE/MAX. In fact, Inventories are so low that they have turned from friend to enemy of the housing recovery, limiting home sales, especially in the lower price range, where most sales are now occurring.
Buyer Satisfaction with Real Estate Brokerages Hits All-Time Low
Wed, Aug 15, 2012
Home-buyer satisfaction at an all-time low and home-seller satisfaction declining as well, real estate companies are challenged to manage customer expectations though Keller-Williams ranked highest among both buyers and sellers, according to the J.D. Power and Associates 2012 Home Buyer/Seller Satisfaction Study released today.
House Poor: Lights, Camera, Fiction
Mon, Aug 13, 2012
Our son Freddy is one of those young people for whom the bumper sticker "Hire a Teenager While They Still Know Everything" was created. Perhaps that's why he can't get a job, now that he's no longer a teenager.
Delinquent Borrowers Keep Homes a Year in Judicial States
Thu, Aug 9, 2012
Nearly half of all seriously delinquent borrowers have stayed in their homes more than a year in judicial states, which have developed a serious backlog of pre-foreclosures, according to June data from LPS Analytics.
Housing Recovery Starts to Move on Up
Tue, Aug 7, 2012
Evidence is mounting that the steadily strengthening housing recovery is moving beyond lower priced homes, where the lack of inventory is greatest, into mid-tier and even luxury housing, according to the first market report on July sales.
Accurate Estimates Bring Down Closing Costs
Mon, Aug 6, 2012
It might be harder to get a loan today, but it costs a little less to close one than it did a year ago because lenders are estimating closing costs netter, according opt the latest annual survey of closing costs by Bankrate.
Pent-up Demand Could Increase California Homeownership 1.8 Percent
Wed, Aug 1, 2012
A new analysis of the impact of pent-up demand for homes that has been deferred by the housing crisis and recession could increase the homeownership rate by nearly 2 percent.
Realtors Return as Real Estate Recovers
Tue, Jul 31, 2012
In another sign that the housing economy is steadily improving, the number of Realtors has increased at a faster rate in the past three consecutive months than it has since the tax credit boom in 2009.
House Poor: My MID-Life Crisis
Fri, Jul 27, 2012
My wife and I had just settled down in front of the TV the other night when the saddest advertisement came on. A grandpa was sitting with his grandson on the steps of their home, talking about how he hoped homeownership would still be around when the little kid grew up. I thought I could see a tear in the old guy's eye. I was so upset that it ruined the whole first half of Dancing With the Stars for me.
Data Secrets of Brand Builders
Thu, Jul 26, 2012
Can you imagine the positive impact that consistent, positive headline news coverage would have on your sales and public awareness of your brand? Learn how to create a data communications program that catapults you to the top of the real estate industry.
Hot Markets Boil and Bubble
Tue, Jul 24, 2012
June existing home sales might be down 5.4 percent nationwide but hot weather is heating up hot markets to boiling, pushing sales to levels unseen in years and raising the specter of price bubbles
RE/MAX: Sales Up 12 Straight Months
Wed, Jul 18, 2012
Not only are inventories down 27 percent from last year, prices are up 2.5 percent in May and 3.7 percent from June 2011. Sales have risen every month for the last year in RE/MAX's national housing report. In fact, for five straight months, sales and prices have both increased on a monthly and annual basis.
Prices Rose 2.68 Percent in June
Tue, Jul 17, 2012
National median list prices have been on the rise since the beginning of the year and now stand at $195,000, up 2.68 percent on a year-over-year basis, according to the June Realtor.com Trend Data released today. Of 146 markets covered by Realtor.com, while list prices increased in 101 markets, held steady in 26 markets, [...]
Sellers Spiff Up to Cash In
Sat, Jul 14, 2012
As sales pick up, so are home improvement expenditures. But the customers aren't new owners. They are sellers who are learning that spending a little to make a house more attractive in a buyer's market can pay off handsomely.
Judicial States’ Foreclosure Backlogs Soar
Wed, Jul 11, 2012
The disparity between foreclosure inventories in states where a court order is required to foreclose and non-judicial states is growing dramatically, reaching 2.5 times higher in judicial states
Rents Rise Faster than Asking Prices
Thu, Jul 5, 2012
Though listing prices have risen modestly in four of the past five months, rent hikes are still outperforming home price increases in the majority of major rental markets.
Tight Inventories Pushed Prices Up 3.2 Percent in May and June
Mon, Jul 2, 2012
Home prices nationwide increased by 2.0 percent in May 2012 compared to May 2011 and on a month-to-month basis increased by 1.8 percent in May 2012 compared to April 2012, according to the CoreLogic Home Price Index. The May 2012 figures mark the third consecutive increase in home prices nationwide on both a year-over-year and month-over-month basis.
Higher Rents Don’t Faze Tenants
Thu, Jun 28, 2012
Even though 92 percent of property managers report rents are rising or the same as they were a year ago, property managers are attracting residents more easily than a year ago.
House Poor: Big Losers and Short Sales
Thu, Jun 28, 2012
In Mirage Mills, we've seen it all when it comes to the housing mess. Entire neighborhoods are so run down you would think Home Depot went out of business. Our kids think "bank owned" is an invitation to invite their friends to a weekend blow-out and trash a vacated house. The black market in copper stripped from hot water pipes and gutters is a major source of local employment. They don't call my town the Chernobyl of American real estate for nothing.
Move-in Ready Foreclosures Dry Up
Mon, Jun 25, 2012
Widespread shortages in housing inventories, especially in states that have experienced large price declines since 2006, are reducing the time homes for sale are spending on market, especially move-in ready foreclosures (REO) .
Risk Returns to Home Values
Wed, Jun 20, 2012
In light of the tremendous losses in equity homeowners have suffered over the past six years and the continued uncertainty surrounding the housing market, the economics of home ownership will make sense only if equity can be protected, Scott Ryles, CEO of Home Value Insurance Company, told the nation's leading real estate journalists attending the 46th Annual Meeting of the National Association of Real Estate Editors.
Single Family Rentals Boost Professional Property Management Services
Thu, Jun 14, 2012
Last year only about a third, 35 percent, of single family rentals made a profit on their rental income. The 3.8 million that lost money or broke even saw their owners' dreams of a steady, annual rental income evaporate into the ether.
House Poor: The Perils of Progress
Wed, Jun 13, 2012
My real estate agent, Bea Meriwether, is one of those real estate people who thrived in the days when the business was all about personality and people skills, like selling houses face-to-face and negotiating like a poker star. She still bakes chocolate chip cookies just to scent the air at open houses and carries an extra hanky for teary sellers saying good-bye to the family home.
Asking Prices Reach 23 Month High
Fri, Jun 8, 2012
This month's median asking price of properties listed for sale in 54 markets hit the highest level since July 2010, the final month of the homebuyer tax credits. This month's national median asking price, $238,118, is 2.8 percent over a year ago and 0.4 percent higher than last week.
House Poor: What’s the Matter with Kids Today?
Mon, Jun 4, 2012
Every Friday morning my real estate team-Bea Meriwether, real estate agent and Earnest S. Crowe, mortgage guy-meets for coffee at the Deli Delight in what's left of downtown Mirage Mills, the Chernobyl of American real estate and the epicenter of the foreclosure crisis.
Weaker Home Sales Seen in 2012
Mon, Jun 4, 2012
Record low mortgage rates are failing to generate stimulate mortgage applications for home purchases, which are down 3.9 percent below last year's level. As a result, last week the Mortgage Bankers Association lowered its 2012 estimate for home sales.
Fitch Sees No Bottom Until Late Next Year
Sat, Jun 2, 2012
Fitch Ratings" outlook for U.S. residential real estate prices has improved slightly in recent months, but the authoritative ratings service still sees no bottom to declining housing prices until late 2013.
FHA Foreclosures Soared in April
Fri, Jun 1, 2012
FHA foreclosures rose 73 percent in April, driven primarily by defaults of loans made in 2008 and 2009 vintage loans, raising new questions about the solvency of the popular government program, which accounts for about a third of all new mortgages.
Case-Shiller Composites Sank to New Lows in Q1
Tue, May 29, 2012
All three headline Case-Shiller composites fell to new post-crisis lows in the first quarter of 2012, wiping out all price gains realized since prices peaked in 2006, a decline of approximately 35 percent through March 2012.
Luxury Markets Tighten Up
Tue, May 22, 2012
Like housing markets overall, the market for luxury homes is growing tighter as the spring buying progresses. Though still a buyer's market, the ILHM Luxury Housing Report for last week shows a pattern of rising prices and fewer days on market since the first of the year.
House Poor: Under Water and Over the Hill
Sat, May 19, 2012
Whoever said ignorance is bliss sure knew what he was talking about, especially when it comes to mortgages. The less I know about my mortgage, the happier I am.
Foreclosures Move Downtown
Fri, May 18, 2012
Eleven of the nation's 20 largest metro areas based on population documented annual increases in foreclosure activity, led by the Florida cities of Tampa (59 percent) and Miami (38 percent). Other cities with increases included St. Louis (29 percent), Chicago (26 percent), Philadelphia (24 percent), and Atlanta (21 percent).
RE/MAX: April Sales up 4.1 Percent
Fri, May 18, 2012
Closed sales were 4.1 percent higher in April than a year earlier, continuing a ten month run of year-over-year sales increases in the 53 markets tracked by the RE/MAX National Housing Report.
Listing Inventory Hits 5-Year Low
Thu, May 17, 2012
The national for-sale inventory of single family homes, condos, townhomes and co-ops fell to the lowest level since 2007 in April, providing further evidence that the inventory draw down is continuing into the spring home buying season.
Homeowners Insurance Soars 19 Percent
Wed, May 16, 2012
This year homeowners are paying, on average, $128 more per year for new homeowners insurance policies than they were at the beginning of the year. In some states, rates are up as much as 39 percent.
Inventories Improve Outlook for Hard-hit Markets
Tue, May 15, 2012
Pro Teck Valuation Services' May HomeValueForecast.com Update has some good news for many metro areas hardest hit by price declines may be recovering due to increasing home sales and reduced inventories of homes, including Midwestern Rust Belt markets like Detroit, Peoria, and Troy, MI.
House Poor: Morality and Mortgages?
Mon, May 14, 2012
So I was reading in the newspaper that now there's a government program where I can refinance and get a cheaper rate even if I'm deeper underwater than the Titanic. Which I am.
Short Sale and Foreclosure Discounts Converge
Fri, May 11, 2012
Short sales, once a rare event in local real estate market, today are nearly as prevalent as foreclosures as lenders seek to avoid adding to their foreclosure inventories and troubled homeowners opt for a faster way out of default. (See Banks and Investors Learn to Love Short Sales).
How Far Will Prices Fall?
Thu, May 10, 2012
When the bottom arrives in the mythical national housing market some time later this year, how far will we be from the heady peaks of the real estate boom when prices were at their zenith?
Distressed Housing Inventory Will Take 46 Months to Clear
Thu, May 10, 2012
Standard and Poor's Rating Services' estimates that the time it will take to clear the supply of distressed homes, or the shadow inventory, on the U.S. market is now 46 months. For the city with the greatest estimate of the time it will take to clear its inventory of foreclosures and short sales, New York City, it will take 202 months, or nearly 17 years.
House Poor: Neighbors. Can’t Live Without ‘Em.
Sun, May 6, 2012
Neighbors are like apple cider. When you first move in, they're nice and sweet. That's because they will want to borrow something someday, or ask you to take in the mail when they go on vacation, or baby sit in a pinch. They act friendly but they are really just checking you out.
Foreclosure Log Jam: Starts Up, Sales Down
Wed, May 2, 2012
March foreclosure starts increased a modest 8.1 percent in March over February while foreclosure sales continued to behave somewhat erratically, dropping to their lowest level since December 2010, and most sharply in non-judicial states.
Midwest Gets Clobbered
Tue, May 1, 2012
Two national market reports released today carried a singular message. The nation's heartland is now the focus for price declines, no longer the South or West. From Milwaukee to Columbus, REO foreclosures are increasing and prices are falling.
House Poor: Why I’m an Expert Homeowner
Mon, Apr 30, 2012
Don't you think it's about time we had an expert homeowner? Everybody else has experts. We have expert economy-guessers with batting averages lower than a Little Leaguer and mortgage experts who sold loans that exploded like time bombs or put people in houses they couldn't afford. We have expert real estate agents who can make any online listing make a house look like a palace with videos, color photos and crafty staging. In Washington, we have expert policy wonks who can send real estate markets soaring or crashing with a single confusing regulation. Welcome to a new weekly column by Homer Guthrie.
Speed Bumps Ahead
Fri, Apr 27, 2012
Mirroring the uneven economic recovery, the housing market is expected to move in a slow, gradual upward path in 2012, while encountering its share of speed bumps along the road, according to economists participating in yesterday's National Association of Home Builders (NAHB) construction forecast webinar on the housing and economic outlook.
Investors Limit Multifamily Boom
Fri, Apr 27, 2012
Though optimism is spurring new multifamily construction, access to capital is handcuffing new construction, especially in secondary and tertiary markets.
Sellers Get More from Cash from Cleaning
Wed, Apr 25, 2012
Cleaning and decluttering will garner sellers a 403 percent return on their investment when they sell their homes this spring compared to a 293 percent return for electrical and plumbing upgrades and 196 percent for staging.
Sand States Rebound, Atlanta Falls Farther Behind
Wed, Apr 25, 2012
Atlanta had the only double-digit negative annual price decline falling 17.3 percent below February 2010 in the latest S&P/ Caser-Shiller Home Price Index.
Foreclosure Drought and Declining Discounts Depress Investor Sales
Fri, Apr 20, 2012
The market share of foreclosures and short sales have fallen 27 percent from a year ago, pulling down March overall existing home sales 2.6 percent as inventories of foreclosures and short sales suddenly declined last month.
Prices Zoom in Foreclosure Epicenters
Tue, Apr 17, 2012
Most of markets with the highest median year-over-year list price increases in March also experienced the largest reductions in their for-sale inventories and were among the hardest hit by the foreclosure crisis.
Will More Homeowners Ditch to Avoid Debt?
Wed, Apr 11, 2012
Nearly half of lenders participating in a recent FICO survey expect more homeowners to elect to default on their mortgages this year than last.
Mortgage Litigation Sets a Record
Mon, Apr 9, 2012
Some 244 lawsuits were tracked in Mortgage Daily's fourth-quarter 2011 Mortgage Litigation Index the highest number since the index's 2007 launch.
“Improving Markets” Improve Very Slowly
Fri, Apr 6, 2012
The list of housing markets showing measurable improvement expanded by just two for a total of 101 "improving" metropolitan areas in April after adding just one market in May.
Full-Value Home Prices Begin to Rise
Wed, Apr 4, 2012
In a strong sign that the housing recovery has begun, the national median price of full-value homes that are not foreclosures or short sales rose each of first two months of the year.
Foreclosure Starts and Sales Backslide
Tue, Apr 3, 2012
Last month both foreclosure starts and sales suddenly retreated, declining quickly on a month-over-month basis after a sharp increase in January.
Investor Purchases Soar 65 Percent
Fri, Mar 30, 2012
Investors bought 1.23 million homes last year, accounting for 27 percent of all existing homes bought in America, the greatest annual market share for investors ever recorded.
Case-Shiller Trips, Atlanta Tumbles
Tue, Mar 27, 2012
S&P/Case-Shiller's two price indices fell to levels 3.9 percent and 3.8 percent below those of year ago and both composites saw price declines of 0.8 percent in the month of January. Eight MSAs posted new all-time lows.
Buyers Need Higher FICOs but Get by with Lower Down Payments
Mon, Mar 26, 2012
Very few home buyers with credit scores below 620 are getting mortgages these days and but more are putting down less than 20 percent.
Real Estate Professionals More Positive than Owners
Mon, Mar 19, 2012
Real estate professionals have become more optimistic about the direction of home values than homeowners, according to the latest HomeGain National Home Values Survey.
Foreclosures Spread North
Thu, Mar 15, 2012
The latest data from RealtyTrac and CoreLogic makes it official. Driven by the still suffering economy, Foreclosures are marching northward from their traditional haunts in the recovering Sand States, invading markets that have seen relatively few foreclosures to date.
Sales and Homeownership Improve 8 Percent
Thu, Mar 15, 2012
For the first time in 18 months, home prices in the 53 cities surveyed by the RE/MAX National Housing Report in February rose by 1.1 percent over February 2011. As an early spring drew buyers to market, home sales were even higher, up 8.7 percent from one year ago. Attitudes towards homeownership also improved 8 percent, according to a new survey by Prudential.
Rents Slipped in December
Tue, Mar 13, 2012
National monthly rents declined slightly in December, falling 0.3 percent to $1,218, though from January 2011 to January 2012 median rents rose 3 percent on the year.
Asking Prices Go Black in 2012
Mon, Mar 12, 2012
For the first time in six years, sellers' asking prices tracked by the Department of Numbers have gone positive on a year-to-year basis, another sign that the housing economy is slowly healing itself.
Welcome to 2002
Wed, Mar 7, 2012
Prices fell 1 percent in December?the sixth consecutive month of price decreases? to a level not seen since December 2002.
January Prices Plunged in Illinois
Wed, Mar 7, 2012
In another sign that the nexus of national foreclosure activity is shifting to the Midwest, Illinois led the nation in price declines in January with an 8.7 percent plunge in median sale price from a year ago. Next biggest losers were Nevada (-8.0 percent), Delaware (-7.9 percent), Alabama (-7.7 percent) and Georgia (-7.5) percent.
Foreclosure Sales Soar
Tue, Mar 6, 2012
Foreclosure sales spiked in the first month of 2012. Sales in non-judicial states outpaced judicial by over three to one, exacerbating the backlog of foreclosures soon to reach local real estate markets in states where court orders are required to foreclose on homes.
Mortgage Default Risk Drops to Lowest in Seven Years
Mon, Mar 5, 2012
Low mortgage rates and monetary policy lowered the UFA Default Risk Index for the first quarter of 2012, which has now reached its lowest level since 2005, before the housing bust.
Twice as Many Lower Income Owners Sink Underwater
Fri, Mar 2, 2012
Moderate income to low income homeowners are twice as likely to be underwater on their mortgages, owing more than their homes are worth, making them much more vulnerable to default than those who bring home a bigger paycheck.
Two Thirds of Realtors Positive on Prices
Wed, Feb 29, 2012
Confidence in the 2012 housing market among Realtors is increasing and some 67 percent expect prices to rise in the months to come. However, the overall jobs and economic situation continues to have a major, negative impact on the residential markets.
December Prices Hit New Post-bust Lows
Tue, Feb 28, 2012
All three Case-Shiller price indices ended 2011 at new lows since the housing crisis began in mid-2006, wiping out all price gains achieved since 2002.
Most Markets Improve in First February Data
Wed, Feb 22, 2012
Pro Teck Valuation Services' February HomeValueForecast.com shows the majority of U.S. Core Based Statistical Areas (CBSAs) demonstrating more positive than negative market trends despite weak or soft status for top U.S. CSBAs.
Which Remodeling Projects Pay Off?
Mon, Feb 20, 2012
For the first time in three years, not one project makes a profit in the latest annual national survey of remodeling and repair project costs versus resale values. The average return on remodeling expenditures is lower than last year.
RE/MAX: Spring Buying Season Never Ended
Fri, Feb 17, 2012
Last year's home buying season continued through the balance of 2011 and though January, according to RE/MAX, which reported yesterday that sales have risen seven straight months.
Young Minorities Value Homeownership 2 to 1 Over Whites
Tue, Feb 14, 2012
Compared with whites, greater shares of both black and Hispanic young adults say owning their own home is among their top priorities. While 25 percent of blacks and 26 percent of Hispanics say owning a home is of the highest importance in their lives, only 12 percent of whites say the same.
Remodeling Looking up in 2012
Mon, Feb 13, 2012
Homeowners are ready to make 2012 a banner year for remodeling and the latest cost-for-value research suggests that getting the most bang for every buck is more important than ever.
Rents Flat in Fourth Quarter
Thu, Feb 9, 2012
With rental vacancy rates at their lowest levels in 10 years, a review of TransUnion's proprietary rental screening database found that rental prices remained about the same between the fourth quarters of 2010 and 2011.
EquityLock Solutions Sees Four Fold Growth in 2012
Wed, Feb 8, 2012
Despite predictions that home prices are close to bottom, the leading provider of home equity protection sees its customer base exploding in 2012 because of changing consumer attitudes towards homeownership.
Banks Shift to Loosen Standards
Tue, Feb 7, 2012
Have lenders turned the corner on lending standards in response to public and marketplace pressure?
January Prices Continue to Slide
Mon, Feb 6, 2012
Home prices are continuing their slide into the new year as January home prices fell to 2.6 percent below where they were a year ago, a decline from December, when prices were 2.1 percent below December 2010.
Bulk Sales of GSE Foreclosures Begin
Wed, Feb 1, 2012
The Federal Housing Finance Agency (FHFA) today invited Investors interested in purchasing pools of Fannie Mae, Freddie Mac and FHA foreclosures in the nations hardest-hit metropolitan areas with the requirement they rent them for a period of year to pre-qualify.
Foreclosure Markets Dominate Realtor.com Turnaround Towns
Tue, Jan 31, 2012
Ten of the nation's local real estate markets that suffered from high foreclosure rates in recent years, eight of which are in Florida, are leading America's housing sector towards a general recovery, according to Realtor.com's Top 10 Turnaround Town Report, fourth quarter 2011.
Mortgage Originations Decline 10 Percent but Quality Soars
Fri, Jan 27, 2012
Mortgage originations plunged 10.1 percent from November to December, continuing a decline from 2011's September peak. At the same time, loans originated over the last two years have proved to be some of the best quality originations on record.
First-time Buyers Ended 2011 on New Low
Thu, Jan 26, 2012
First-time home buyers are an ever-shrinking segment of the real estate market. In December, The percentage of first-time buyers tied the lowest level ever recorded in the National Assocition of Realtors' Realtors Confidence Index this year at 31 percent of the market.
Luxury Listings Lag Cheaper Properties as Inventories Rise
Tue, Jan 24, 2012
Sales are typically slow in winter, but this January is proving especially sluggish for luxury homes even though sales for all existing homes have increased through the last three months of 2011.
Mortgage Approvals Handicap Buyers
Mon, Jan 23, 2012
In another sign that buyers are having an increasingly difficult time getting mortgage financing, nearly one out of three home sales in December went to buyers paid all cash.
RE/MAX Reports December Surprise
Tue, Jan 17, 2012
December home sales unexpectedly rose 5.7 percent over November, ending the year with the 6th consecutive month to show a year-over-year sales increase. Sales were 1.1 percent higher than a year ago, RE/MAX reported.
Transition to Purchase Mortgages Seen Changing Lenders
Tue, Jan 10, 2012
Top producers will continue to be on the move this year as the lending industry transitions form refinancings to purchase mortgages, according to Hammerhouse LLC, a national recruiting and strategic growth firm for the financial services industry.
Consumers Top the Experts in 2012 Home Price Outlook
Tue, Jan 10, 2012
For the past six months, one consumer survey after another has tracked increasingly negative expectations about home prices in the year to come while some expert forecasts were more positive. Now, Fannie Mae has turned the tables.
Markets Seen Stabilizing This Year
Mon, Jan 9, 2012
Home prices this year cease their decline and gain a slight 0.2 percent across all markets as more and more individual markets stabilize in the months to come.
Delinquencies Deteriorated in November
Fri, Jan 6, 2012
The steady decline in new delinquencies stopped in November and progress in reducing the volume of future foreclosures has hit a wall.
December Freezes Luxury Sales
Tue, Jan 3, 2012
Even though the weather was mild across most of the nation in the last week of December, sales of luxury homes entered a deep freeze and time on market soared for homes. As the new year begins, inventories are lower and time on market is higher than they were during all of 2011.
52 Percent of Owners: Homes Worth More Now Than When They Bought Them
Mon, Jan 2, 2012
Slightly over half of all homeowners say their homes are worth more today than they were when they bought them, according to a new national survey conducted just before Christmas.
Gloomy Price Picture Forecast for 2012
Sun, Dec 25, 2011
Expect at least another full year of falling home prices before things get better. That's the bottom line from Fannie Mae's economists in their final forecast for 2011.
Big Banks Created Foreclosure Boom
Fri, Dec 23, 2011
The largest banks and federal savings associations created a 21.1 percent increase in new foreclosures during the third quarter when they lifted voluntary moratoria implemented in late 2010.
Homeownership Counseling Helps Keep Modified Loans Current
Thu, Dec 22, 2011
Just three weeks after Congress restored $40 million in its budget for homeownership counseling, a new study by the Urban Institute reports that counseling greatly increased the ability of homeowners to stay current once they cured a serious delinquency or foreclosure.
Nearly Half of all November Sales Were Distressed
Tue, Dec 20, 2011
Despite solid demand for home purchases overall, a glut of distressed properties is continuing to put downward pressure on home prices, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
Home Sales Higher than Last Year; Prices Lower
Tue, Dec 20, 2011
Sales in November were 8.1 percent higher than a year ago but year over year sales have slipped from increase of 18 percent increase in August and 13.1 percent in July.
Financial Security Rebounds to Six Month High
Mon, Dec 19, 2011
Americans' feelings of financial security are at their highest level in six months, according to Bankrate.com's December Financial Security Index, which was released today. The overall index jumped 3.3 points to 95.8, the highest level since June.
Delinquency Rate Creeps Up
Mon, Dec 19, 2011
As the year winds down, a growing number of homeowners are 30 days or more behind in their mortgage payments. Delinquency rates, which have been in decline for months, are creeping up again.
November Foreclosures Down 14 Percent from 2010
Thu, Dec 15, 2011
Foreclosure filings decreased 3 percent from October and 14 percent decrease from November 2010. One in every 579 U.S. housing units with a foreclosure filing during the month, according to RealtyTrac's Foreclosure Market Report.
Florida’s First in Mortgage Fraud
Tue, Dec 13, 2011
While activity increased on mortgage fraud cases being prosecuted in California, New York also saw acceleration in fraud and fraud activity in Minnesota zoomed, Florida's mortgage fraud index topped the list for the Third-Quarter 2011 Mortgage Fraud Index from MortgageDaily.com.
Mortgage Defaults are on the Road to Recovery
Mon, Dec 12, 2011
The UFA Default Risk Index for the fourth quarter of 2011 edged lower to 131 from last quarter's revised 133, which has suggests that residential mortgage default and prepayment risks are continuing their return to normalcy.
Consumers Expect Big Rent Hikes in 2012
Thu, Dec 8, 2011
Consumer sentiment on housing expectations is stabilizing as the year winds down and consumers are adopting a "wait and see" attitude towards 2012, according to Fannie Mae's November National Housing Survey.
Mortgage Delinquencies Forecast to Fall in 2012
Wed, Dec 7, 2011
After rising slightly to a rate of 6.02 percent in the first quarter, 60-day mortgage delinquencies will resume their decline, falling to about 5 percent of all performing mortgages by the end of next year
Consumers Grow Gloomier over Housing Recovery
Wed, Nov 30, 2011
Even as consumer confidence in the economy as a whole brightens, hopes for a housing recovery are growing increasingly gloomy.
Excessive Rates Cripple Underwater Borrowers
Tue, Nov 29, 2011
In a time of 4 percent mortgages and programs like HARP designed to help homeowners refinance at lower rates, more than 15 million homeowners who are underwater on their mortgages are paying rates higher than 5 percent.
Twenty Somethings are Faring Better
Mon, Nov 28, 2011
Young Americans under 30-a prime age group for first-time home buying-are feeling considerable better about their financial picture than they did a year ago, according to a major new study from Bankrate.
First Mortgage Defaults Rose in October
Tue, Nov 15, 2011
In another sign that more foreclosures are on the way, defaults on first mortgages rose last month as defaults on other credit categories declined.
LPS: Prices to Fall 5 Percent in 2011
Mon, Nov 14, 2011
Prices were down 3.8 percent from August last year and based on partial data for September, sales will further decline approximately 1.1 percent to come, according to the latest Lender Processing Services' Home Price Index.
First-Time Buyers Faded in 2011
Mon, Nov 14, 2011
First-time home buyers fell to a 37 percent market share in the past year from a record high 50 percent in 2010 as down payments rose and buyers found getting a mortgage to be more difficult than in the past.
Foreclosure Defaults Are Rising Again
Fri, Nov 11, 2011
Foreclosure default notices are on the rise as the economy continues to take its toll and lenders become more aggressive as they move past the processing problems that have plagued foreclosures for more than a year.
Will Prices Slide 3.6 Percent More in 2012?
Wed, Nov 9, 2011
We're going to have to wait a few more months for an upturn in housing prices. Down 5.9 percent through the second quarter of this year, home prices will decline an additional 3.6 percent until the middle of next year before they recover 2.4 percent from the second half 2012 through the first half 2013.
Why Buyers Balk: Price Apprehension, Financial Fears, Cash Crunch and Credit
Tue, Nov 8, 2011
Four factors - uncertainty about future prices, concern about the economy and jobs, concerns about their credit and difficulty saving for down payments - are causing buyers to delay their purchases, dramatically reducing near-term demand.
Consumers Less Pessimistic on Prices
Tue, Nov 8, 2011
For the fifth month in a row, Americans in October expected home prices to decline over the next 12 months in Fannie Mae's monthly consumer survey.
Fewer Foreclosures Lift Negative Equity
Tue, Nov 8, 2011
A lower rate of foreclosure repossessions coupled with relatively flat home values caused negative equity to rise in the third quarter with 28.6 percent of single-family homeowners with mortgages underwater compared to 26.8 percent in the second quarter, according to Zillow's third quarter Real Estate Market Reports.
Homeowners Fear Falling Values More Than Fire
Mon, Nov 7, 2011
The five year long real estate depression has taken such a toll over homeowners that they fear falling values four times more than fires and they are twice as likely to monitor local prices than their own cholesterol levels.
Prices Fall Thirteen Months in a Row
Thu, Nov 3, 2011
Last September a HomeGain survey of real estate professionals and homeowners detected a grass roots souring on the price outlook for the coming six months, even though many experts predicted a quicker recovery from the post-tax credit hangover.
Austin Spells Relief: J-o-b-s
Mon, Oct 24, 2011
With an unemployment rate of only 7.3 percent in August, it's no secret why Austin is on everyone's list of top recovering housing markets.
Mortgage Bottlenecks Hold up Closings
Mon, Oct 24, 2011
Backlogs in approving mortgages are causing significant delays in home purchase closings, according to the latest Campbell/Inside Mortgage Finance HousingPulse monthly tracking survey of real estate market conditions.
Florida Sales Continue to Zoom
Thu, Oct 20, 2011
Florida's existing home and existing condo sales continued their year-long upswing in September, according to the latest housing data released by Florida Realtors®. Existing home sales increased 10 percent last month with a total of 15,036 homes sold statewide compared to 13,723 homes sold in September 2010, according to Florida Realtors.
Rising Rents Improve Investors’ Returns
Wed, Oct 19, 2011
With rents rising faster than last year, the picture for residential real estate investors is getting even better than it already was as a result of once-in-a-generation prices and low interest rates, according to the founder of the leading Internet platform for investors and real estate professional.
California Sales Top 2010 for Third Straight Month
Sat, Oct 15, 2011
Heightened economic uncertainty and lower loan limits contributed to a decrease in California home sales in September. However, September home sales posted higher on a year-to-year basis for the third consecutive month and remain at stable levels.
RE/MAX Confirms Prices Trail 2010
Fri, Oct 14, 2011
The latest national housing report from RE/MAX is the second price report to show national average prices down modestly from last September, confirming fears that markets have not fully recovered from the second dip in prices during the first quarter of this year.
Mortgages Won’t Recover in 2012
Wed, Oct 12, 2011
Even though purchase mortgage applications perked up last week, anemic was the word used by the Mortgage Bankers Association to describe the outlook for mortgage originations next year, including purchase originations, which it projects will grow only 3 percent in 2012 after they plunge 15 percent this year.
Prices Grow Grimmer as Fall Begins
Thu, Oct 6, 2011
Home prices through August are down 4.4 percent on the year according to the most depressing price report issued since the double dip in the first quarter.
FHA Applications Perk Up Purchase Mortgages
Wed, Oct 5, 2011
Driven by a wave of FHA loans, applications for mortgages to purchase a home reached their highest level since May last week, but they still trail the 2010 application rate by more than 34 percent.
Apartment Rents Rising Faster than Last Year
Mon, Oct 3, 2011
Effective rent growth is significantly higher so far this year than it was at this time in 2010, and at this pace rents may rise more in 2011 than they have since 2005.
Mortgages Cause Fewer Bank Failures
Mon, Oct 3, 2011
Mortgage-related failures among lenders are down 42 percent this year from this point in 2010. The improvement is entirely due to fewer failures among federally chartered banks; mortgage-related losses contributed to the same number of nonbank mortgage lenders and credit union failures this year as last
Case-Shiller: July was a Very Good Month
Tue, Sep 27, 2011
Through July, home prices registered a fourth consecutive month of increases up 0.9 percent in July over June.
Foreclosure Lawsuits Soar
Mon, Sep 26, 2011
Litigation over the foreclosure process reached its highest level in the second quarter than in any quarter since MortgageDaily.com's Mortgage Litigation Index was introduced in 2007.
First-Time Buyers Losing Interest in Short Sales
Mon, Sep 26, 2011
Processing delays have taken their toll on first-time homebuyer interest in short sales, which now account for more than one of every six house sales, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.
Prices Cool with End of Summer
Thu, Sep 22, 2011
We're not out of the woods yet and the market trends tell us we're settling in for a long, cold winter.
Luxury Sales Languish
Thu, Sep 22, 2011
The end of the spring-summer buying season is taking its toll on luxury properties. Median days on market for homes selling over $500,000 has fallen 40 percent since the peak of the season in May.
CAR Anticipates Modest 2012 for California
Wed, Sep 21, 2011
California home sales and median price are predicted to improve only slightly in 2012, as the continuation of the tepid economic recovery, uncertainty about the future, and funding challenges for residential mortgages are expected to keep the market moving sideways.
Experts’ Forecast for 2011 Prices Improves
Wed, Sep 21, 2011
The home price picture for this year is shaping up to be a little better than it looked June, according to the September 2011 home price expectations survey of 111 leading housing economists and experts sponsored by MacroMarkets LLC.
Homeowners Sour on 2012
Mon, Sep 19, 2011
Homeowners are growing even more pessimistic about the potential short- and long-term values of their homes.
Foreclosures Down One Third from 2010
Thu, Sep 15, 2011
Foreclosure filings rose 7 percent in August, but they are still down nearly 33 percent from August 2010. Foreclosure activity on a year over year basis now has been down for 11 straight months.
More Owners Fear Falling Values
Wed, Sep 14, 2011
Nearly half the nation's homeowners now fear that home values will decrease further this year, up from 30 percent in the second quarter.
Fannie Mae’s Defaults Sink to 2 Year Low
Wed, Aug 31, 2011
The percentage of mortgages in default more than 60 days in Fannie Mae's portfolio have fallen to the lowest level in two years, another sign that defaults are slowly but steadily declining as more homeowners pay their mortgages on time.
Case-Shiller Prices Recover in Second Quarter
Tue, Aug 30, 2011
Home prices rose in the second quarter almost as much as they fell in the first, but prices at the end of June still trailed June 2010 levels-which still reflected demand generated by the tax credit boomlet.
Delinquencies Rise with Recession Fears
Thu, Aug 25, 2011
It's official! With the nation on the brink of a double dip recession, mortgage delinquency rates, especially 30-day delinquencies-- have shifted course and they are trending up again.
Luxury Prices Stabilize
Mon, Aug 22, 2011
While year-over-year national median prices fluctuate monthly by ten percent or more, upscale homes have settled down.
Investors Can’t Resell
Mon, Aug 22, 2011
Anemic demand from owner-occupant homebuyers has forced investors to rent out about half of the homes they purchase -- as opposed to renovating and flipping the properties.
Florida July Sales Soar
Thu, Aug 18, 2011
Florida existing single family home and existing condo sales increased 12 percent last month over sales a year ago and prices were stable.
Delinquency Decline Erases Foreclosure Inventory Rise
Wed, Aug 17, 2011
Though the national delinquency rate is about percent below the level of a year ago, the inventory of foreclosures yet to be sold is about 10 percent higher.
Signs of Slippage in DC Housing Market
Wed, Aug 10, 2011
Home sales are down more than normal for this time of year in the Washington, DC market but are still strong when compared to July 2010. Prices fell from a three year high in June.
Short Sales Strong Through 2013
Tue, Aug 9, 2011
Short sales will remain strong for the next several years as foreclosure inventories timelines grow even longer, according to the chief operating officer of Equator, a premier software platform for default servicers.
Rates on 15-Year Fixed Lowest Ever Recorded
Mon, Aug 8, 2011
The average rate for a 15-year fixed loan dropped to 3.54 percent last week from 3.66 percent the week before. Freddie Mac said Thursday. That's lowest result since the mortgage buyer began tracking it in 1991.
Mortgages Tanked in Q2
Mon, Aug 8, 2011
Residential originations by U.S. lenders fell nearly 20 percent in the second quarter, according to the Mortgage Lender Ranking from MortgageDaily.com. The biggest-three lenders fueled the decline, while business was less concentrated at the top.
June Prices Still in Red; Northeast Booms
Thu, Aug 4, 2011
National average home prices in June were still 7.9 percent below a year ago, which was the height of the boomlet spawned by the tax credit. However, prices are still up 4.1 percent over the first quarter.
Buyers are Less Satisfied, Sellers More
Fri, Jul 29, 2011
Home buyers are less satisfied today with real estate brokerage services from franchises and seller s more so than they were a year ago. That's the bottom line from J.D. Power and Associates' 2011 Home Buyer/Seller Study.
“Normal” Home Prices are Stabilizing
Tue, Jul 26, 2011
Prices of "normal" homes-those that aren't foreclosures or short sales-are stabilizing and the numbers of future foreclosures are falling. That "sliver of good news for consumer spending" was included in CoreLogic's July report on housing and market trends.
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