Friday , 19 September 2014
REEW Launches New Site! - Latest Articles:
Home » Author Archives: Steve Cook

Author Archives: Steve Cook

First-time Buyers Miss the Boat

miss_boat

Funding Increases for Homeownership Assistance Eligible homebuyers could benefit from a growing number of homeownership programs. According to the third quarter Down Payment Resource™ Homeownership Program Index, 91.7 percent of the country’s homebuyer programs are funded, up from 90 percent in June. The South still leads in the total number of available homebuyer programs, followed by the West. The index ... Read More »

Homeownership Decay Fuels Multifamily Demand

Leaning Wooden Shack Rear Porch - Golden, Oregon - HDR - Infrared Black & White

The multifamily sector, especially apartment buildings for rent, are rebounding at a record pace at the expensive of moribund homeownership rates, especially among young adults. Construction of buildings with at least five apartments hit the highest monthly construction pace since the beginning of 2006, according to the latest economic forecast from Fannie Mae. The latest absorption rates for unsubsidized, unfurnished ... Read More »

Summer’s End Cools Luxury Sales

COVER-IMAGE

Luxury home sales peaked in late June but by the first of September the market crossed over into a buyers’ market for the first time since early spring, though not strongly so. Median luxury prices also have been falling since the end of June, according to weekly market reports from the Institute for Luxury Home Marketing. Last week ILHM’s Market ... Read More »

Down Payments Rose in Second Quarter

downpayment

As predicted with the implementation of the QM Rule, average down payments rose in the second quarter and fewer first-time homebuyers are finding ways to buy a home by putting less than 6 percent down. Homebuyers had to put slightly more money down on a conventional 30-year fixed-rate mortgage during the second quarter, reversing an 18-month downward trend, according to ... Read More »

Homebuyers are on the Horizon

teen

  Tired of waiting for the millennial generation to buy a house? If you’re willing to wait another ten or twenty years, things will finally get better according to a new study funded by Better Homes and Gardens Real Estate. Young people of the future, it seems, are already planning to rebel against their Rentorship Generation older brothers and sisters ... Read More »

Price Increases Stay Strong Through July, Forecasted to Diminish

Falling-home-prices2

Home prices nationwide increased 7.4 percent in July compared to July 2013 but next year at this time, year over year increases will fall to 5.7 percent, CoreLogic forecasted today. On a month-over-month basis, home prices nationwide, including distressed sales, increased 1.2 percent in July 2014 compared to June 2014. However the CoreLogic HPI Forecast indicates that home prices, are ... Read More »

Are You Ready for the HELOC Crisis?

surge_15

  At least 2.5 million home equity lines of credit (HELOCs) will reset over the next three years, increasing borrowers’ monthly payments by an average of $250 per month and resulting in a surge of defaults, according to Black Knight Services’ September Mortgage Monitor report. According to Kostya Gradushy, Black Knight’s manager of Research and Analytics, this average is based ... Read More »

Clear Capital: Welcome Back to 2004

Bush-vs-Kerry

  National home prices have been nominally unchanged for a lost decade and we’re back to 2004 levels without even accounting for inflation, leaving many homeowners with no more equity than when they bought.  That’s the grim assessment by Clear Capitol in its September market report. If national home price growth continues to diminish, the lost decade will drag out. August home price ... Read More »

Were July Sales Up or Down?

shutterstock_150186581

  Two major market reports left real estate professionals shaking their heads this week over the latest sales data.  RealtyTrac and NAR reported July sales headed in opposite directions as the buying season closed up shop for the duration. Sales of residential properties were down 3 percent from June and down 12 percent from a year ago — the third ... Read More »

Economists in Reuters Poll See Stronger Sales, Weaker Prices in 2015

crystal-ball-ljxmtsnc

The annual pace of existing home sales will likely rise to 5.25 million units in the first three months of 2015 from 5.09 million in the current quarter, according to a Reuters poll of economists But prices next year will be weaker than this year. The S&P/Case-Shiller gauge of property values in 20 metropolitan areas was seen rising just 5.0 ... Read More »