Thursday , 30 July 2015
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Author Archives: Steve Cook

Home Prices are now only 6.5 Percent below Peak

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  In terms of national averages, the recovery has raised prices within a hair of their highest peaks reached during the boom nearly ten years ago, but on a market-by-market basis, median prices in fewer than half of the nation’s larger markets have fully rebounded from the housing crash. At $251,000, US home prices are now just 6.5 percent off ... Read More »

Sellers are Pocketing their Biggest Profits since the Peak

Greedy Business Partners

Single family home and condo sellers in the first half of 2015 sold for more above their purchase price in the first half of this year than any time since prices were at the peak of the boom. Homes sold for an average of 13 percent above their original purchase prices, the highest average percentage in home price gains realized ... Read More »

Nearly Half of Homes in Top Markets are Losing Value

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  Despite market reports of strong median home price appreciation this spring, gains are very uneven and nearly half of homes in ten of the nation’s largest markets actually lost value in May. On a house-by-house basis, about one-third fewer homes in the largest markets gained value during the heart of the spring buying season this year compared to last, ... Read More »

Down Payments Motivate Buyers More than Interest Rates

blastoff

Changes in down payments have much greater impact on homebuyers’ willingness to buy for a home than changes in mortgage rates and lower down payment increase renters; willingness to buy six times more than existing owners, according to a new study published recently by economists at the New York Federal Reserve. The survey of buyers and renters found dramatic evidence ... Read More »

Rising Rents Hit 47-Month High, June Occupancy Matches Record

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The rental market set new records in June as the national annual effective rent growth rate reached 5.1%, a 47-month high for the national apartment market and continued a streak of 5.0%-plus rent growth that is the longest in at least six years, according to Axiometrics,. Though effective rent growth was also 5.1% in April and February, the June rate ... Read More »

HomeVestors Proves Investing is Alive and Well

homevestors

For the business of residential real estate investing, these are not the best of times.  Bargains on attractive properties to flip or to hold and convert to rentals are tough to find.  Foreclosures and short sales have fallen to ten percent of home sales, the lowest level in four years, according to RealtyTrac.  Moreover, NAR reports the foreclosure discount has shrunk ... Read More »

Strong Dollar Doesn’t Deter Foreign Residents

asian buyes

Sales to foreign investors interested in single family rentals are down, largely to a strengthening dollar, but foreign nationals living in the US are participating in the spring boomlet. The National Association of Realtors reports that the number of U.S. homebuyers who identified as international dropped to 2.0 percent during the first four months of 2015 from 2.5 percent a ... Read More »

Denver and Texas Markets Rate Best for Rentals

denver

Investors have to hunt harder for well-priced acquisitions these days but the best rents can be found in the nation’s top  for-sale markets, according to new quarterly data from HomeVestors and Local Market Monitor.  “For the last few years, investors have been able to find real estate bargains they could turn into rental properties. That period is pretty much over ... Read More »

As Rates Rise, 6.5 Million Homeowners are Missing the Refi Boat

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Between traditional and HARP programs, approximately 6.5 million borrowers could probably qualify for and benefit from refinancing, resulting in significant monthly savings for qualifying borrowers, according to Black Knight Financial Services. “By looking at current interest rates on existing 30-year mortgages and applying broad-based underwriting criteria, we found that approximately 6.1 million borrowers make good candidates for traditional refinancing,” said ... Read More »

Is Clear Capital a Voice in the Wilderness or a Skunk at the Picnic?

wilderness

  With annualized sales and price appreciation reports blowing away the early forecasts for 2015 and putting smiles on the faces of professionals and real estate consumers alike, is there reason to worry that there’s a major downturn lurking around the corner? Clear Capital’s vice president of research and analytics Alex Villacorta, a fearless contrarian who called Florida’s investor-driven recovery ... Read More »

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