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Author Archives: Steve Cook

Zillow: Prices Peaked

peaked

    Appreciation in home values is slowing definitively after nearly two years of accelerating year-over-year growth, according to the third quarter Zillow® Real Estate Market Reports. Homebuyers who have been priced out of hot markets will welcome the cooling off. The rate of annual home-value appreciation peaked at 8.1 percent in April and has fallen in every month since. ... Read More »

Rising Rents Squeeze Renters

apart article

Not so long ago desperate landlords had to offer incentives to get tenants and tenants could find a variety of amenities and extras within their budget.  How life has changed! Two new surveys by national rental sites paint a very different picture of rental living as new construction has failed to keep up demand in the hottest markets and soaring ... Read More »

Falling Prices and Falling Leaves Perk up Sales

leaves

Existing home sales picked up in September, reaching their highest pace on an annualized basis of the year, helped along with a price drop of nearly five percent to launch the fall season. Median price fell from $219,800 in August was $209,700, a drop of 4.8 percent but still 5.6 percent above the levels of a year ago. The price ... Read More »

FHA Sinks Deeper

fha

FHA’s share of home-purchase financing fell to its lowest level in at least five years in September, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey of real estate professionals. Mortgages guaranteed by the FHA accounted for financing on 18.2 percent of home purchases in September, based on a three-month moving average. That’s the lowest market share for the ... Read More »

Homeowner’s Claims Can Send Premiums Sky High

insurance

Filing a single homeowner’s insurance claim can raise consumers’ annual insurance premiums by more than 30 percent, or hundreds of dollars each year, according to research by insuranceQuotes.com, a subsidiary of Bankrate Insurance. Nationally, one claim leads to an average premium increase of nine percent. The states with the highest single claim increases are Wyoming (+32%), Connecticut (+21%), Arizona (+20%), ... Read More »

Fall Inventories Moderate Redfin Prices

fall_leaves_1_

September sales volume declined by 13.7 percent in September from August on Re3dfin even though Inventory increased by 4 percent over August and newly listed homes were up 2.1 percent.  Prices were among the lowest among September market reports to date.  The brokerage hopes for better news in the fourth quarter but doesn’t expect price growth to be higher than ... Read More »

Why Boomerang Kids Bounce Back

bounce

Not only are the numbers of young people over 18 who live with their parents reaching unprecedented numbers, higher than previously assumed, they are not necessarily moving out when their financial situations improve, a according to a new study by Federal Reserve economists that may have important ramifications for housing marks. The fraction of young adults residing with parents has ... Read More »

New Fed Study: Student Loans Dont Stop Grads

SLD

A study by Federal Reserve economists released today torpedoes the contention that college grads are being prevented from buying houses by student loan debt.  Rather, they are buying house at the same rate as grads with no student loan debt. The findings have wide-ranging implications for the future of homeownership.   Surveys conducted by the national Association of Realtors and others ... Read More »

Wells Circles the Wagons

Wells

Growing concern over the faltering housing recovery has inspired an unusual vote of confidence for housing’s fundamentals from two of Wells Fargo’s top economists. In a “special commentary” published in the bank’s web site, senior economists Mark Vitner and Anika R. Khan argue that too much progress has been made restoring growth to the overall economy for the recovery to ... Read More »

Student Loan Debt Consumes Twenty-somethings

SLD

  Student loan debt is consuming the budgets of twenty-somethings at a breakneck pace, mutating their debt profile into unrecognizable ways that stretch their resources and limit their options. A new TransUnion study found that the consumer loan wallet — the composition of loans that people typically carry — has materially changed their imprint on consumers ages 20-29, with the student loan ... Read More »