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Home » Author Archives: Steve Cook

Author Archives: Steve Cook

Tight Credit Chokes Pending Sales

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Pending home sales rose slightly in September and are now above year-over-year levels for the first time in 11 months, according to the National Association of Realtors®.  But NAR’s monthly pending sales repot disappointed observers and underscored the problems facing the housing sector The pending home sales index increased 0.3% after dropping 1% in August, the National Association of Realtors ... Read More »

Seattle: Tale of Two Cities

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Why lower income neighborhoods have been left out of the housing recovery? In an ana;ysis of the Seattle marlket, Pro Teck  Va;uatgion Services describs  how income and access to credit drives home values and why across the country we are seeing strong appreciation in wealthy areas but slower recovery in areas of lower income. Seattle’s median household income is soaring, with ... Read More »

Millennials on Verge of Home Buying Explosion

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Despite reports that oppressive student debt or a desire to a desire to keep renting will keep homeownership rates for twenty and thirty-somethings at record lows, millions of them are waiting on a slightly fatter paycheck to begin the process of buying a first home, according to a new national study. An increase of 15 percent or less in annual ... Read More »

Freddie Mac: Local Markets are Stabilizing, Weakness Overall

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Eight additional metro and state housing markets showed positive momentum in August butFreddie Mac’s Multi-Indicator Market Index® (MiMi) stands at 73.3, indicating a weak housing market overall and showing a very slight decline (-0.19%) from July to August and a 3-month decline of (-0.47%). However, n a year-over-year basis, the U.S. housing market has improved (4.09%). The nation’s all-time MiMi ... Read More »

Zillow: Prices Peaked

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    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

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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

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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

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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

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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

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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 »