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Zillow: Coming Soon to an MLS Near You

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  Zillow’s “Coming Soon” program raises important questions about potential role of  ”pre-listings” in MLS marketplaces and whether economists should use them to track prices and inventories. Zillow now is posting properties that are “not yet on the market, but expect to be listed for sale within 30 days” so that buyers can “identify homes that will be listed for ... Read More »

Why Won’t Buyers Make the Leap?

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Halfway through the spring buying season, mortgage applications fell 1.2 percent for the week ending May 21 and the  unadjusted Mortgage Bankers Association’s Purchase Index fell even more.  It was down 2 percent in just one week–15 percent lower than it was a year ago at this time. Such a decline in borrowing to buy a home in the third ... Read More »

Who’s Gonna Love Ya When You’re Down and Out?

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The problem with the housing market this spring may not be that inventory is too small.  It also may not be tight lending standards, massive student loans, lingering levels of negative equity or a peripatetic economy. Maybe it’s just that nobody wants to buy what’s listed. Inventory trends are closely monitored but nobody keeps track of many ugly ducklings linger ... Read More »

Is L.A. the Next Detroit?

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Is L.A. the Next Detroit? By Octavio Nuiry   According to the latest UCLA Anderson School of Management study, Los Angeles, Detroit and Cleveland share the dubious distinction of cities with the weakest job growth since 1990. The researchers at UCLA say Los Angeles has lost 3.1 percent of its employment base since 1990, more than Detroit (-2.8 percent) and ... Read More »

What’s Wrong With This Picture?

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  April is supposed to be the month that real estate agents’ phones ring off the hooks, yard signs sprout like dandelions, buyers line up for showings and offers fall from the sky like cherry blossom petals. Above all, this was to be the spring season when at last all the stars were properly aligned in the real estate galaxy ... Read More »

Will this be a Spring for Happy Dancing?

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Six months ago all the stars were aligned for a spring market that would take America’s housing recovery to new levels and perhaps the rest of the national economy with it. Since then too many things have gone wrong take for granted another good year.  First, inventories dragged, failing to replenish at a healthy rate through most of the winter ... Read More »

Who Should be Cheering for Falling FICO Scores?

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One third—33% of closed loans—had an average FICO score of less than 700 compared to 24% one year ago, yet another sign that lending standard are easing.  Or are they? According to Ellie Mae’s latest monthly origination report, great progress is being made in reducing the average FICO score to give more average American families a shot at a mortgage, ... Read More »

Consumer Confidence Hits High Gear

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Consumer confidence, led by high hopes for the housing markets, has recovered from its doubts in the wake of the government shutdown last fall and is starting the new year on a tear. Two weeks ago economists at the Conference Board forecasted that for the year as a whole growth will accelerate markedly to 2.9% in 2014 from the subdued ... Read More »

Sweet Spots

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By Charlie Young, President and CEO of ERA Real Estate                                                                                                     ... Read More »