Positive News On Real Estate » Home Resales

Foreclosures Lower In 2011

admin — Thu, 09 Feb 2012 15:34:35 +0000

Homes in foreclosure decline by 130,000 homes in 2011 and it is thought to go lower this year.

Declining US Home Values Forecasted to Slow in 2012, Says Zillow
In the fourth quarter, the rate of homes foreclosed edged upward from eight out of every 10000 homes in November to 8.2 out of every 10000 in December. However, the rate was lower than at the end of the third quarter, when 8.6 out of every 10000 homes …

It is thought the new foreclosure deals can help the current marketplace.

Mortgage deal could bring billions in relief
The settlement settles potential state charges about allegations of improper foreclosures based on “robosigning,” seizures made without proper paperwork. Most of the relief will go to those who owe far more than their homes are worth, known as being …
www.click2houston.com

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A Bottom in Housing

admin — Thu, 24 Nov 2011 04:08:24 +0000

Reasons we may be at Zero.

Image by Getty Images via @daylife

The National Association of Home Builders’ sentiment index jumped three points this month to 20, its highest reading in over a year. The Commerce Department reports building permits and construction of single-family homes rose in October. The Federal Reserve’s fourth-quarter loan survey showed a pickup in demand for mortgage loans.

As an example of perhaps a turnaround, the inventories of houses for sale fell 41% to 21,304 in October, compared to 35,732 at the same time a year ago for Greater Phoenix, according to the Cromford Report, a market research firm in Mesa, Ariz. While the # of housing units sold is rising—to 6,428 in October from 5,443 in same month a year ago.

Meanwhile the National Association of Realtors or NAR, said sales rose 1.4% in October from a month earlier and were running at a seasonally adjusted annual rate of 4.97 million units. That puts sales on track to beat last year’s level of 4.91 million units, which was the lowest level in 13 years.

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NAR says housing bumps up year over year

admin — Tue, 15 Nov 2011 00:14:35 +0000

Image by Getty Images via @daylife

The National Association of Realtors (NAR) has reported that residential real estate sales showed positive gains in every U.S. state in the third quarter of 2011 when compared to last year (year over year).

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Existing-home sales Rocket Up 12.3% in December

admin — Fri, 21 Jan 2011 14:17:46 +0000

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Existing-home sales in December showed signs the housing market is on track to recover in 2011. Buyers returned in the middle of winter and sales rose 12.3% to a seasonally adjusted annual rate of 5.28 million, from an upwardly revised 4.7 million in November.

According to the National Association of Realtors’ President Ron Phipps, buyers are responding to very good affordability conditions despite tight mortgage credit. “Historically low mortgage interest rates, stable home prices and pent-up demand are drawing homebuyers into the market.”

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Housing Market Boast Brilliant Numbers

admin — Wed, 04 Aug 2010 23:22:32 +0000

: Image by Getty Images via @daylife

New home sales jumped 23.6% in June to an annual rate of 330k compared to market expectations for a somewhat smaller increase to a rate of 320k. Also, the S&P/Case-Shiller 20-city home price index increased 0.5% in May from April and 4.6% from May one year ago. This was the second monthly increase and the fourth year-over-year gain in home prices. 15 of the 20 metro areas tracked by this index showed monthly price gains.

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Miami-Dade Pending Home Sales Increase 40.5 Percent from a Year Ago

admin — Wed, 04 Aug 2010 17:14:59 +0000

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Total pending home sales in the Miami-Dade County increased 40.5 percent in July 2010, when compared to the July 2009 numbers. This real estate includes single-family style homes and condominiums. Even though the tax credit, which helped boost the South Florida real estate market, expired, Miamia-Dade Couny has shown impressive signs as it continues to strengthen.

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NAR Supports the Growth of Small Businesses

admin — Mon, 02 Aug 2010 22:57:15 +0000

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“As the leading advocate for private property rights, NAR believes it is critical for Congress to act soon and to get capital flowing to small businesses and to the commercial real estate market,” Jim Helsel, treasurer of the National Association of Realtors, told the House Committee on Financial Services. He explained that raising the SBA loan limits and allowing the SBA 504 loans to be used to refinance property can help ease the liquidity crisis in the commercial sector. He went on to articulate that the NAR strongly supports the H.R. 3380 because it is projected to raise the credit union member business lending cap from 12.25 percent to 25 percent of total assets. Small regional and community banks make up for close to half of the small business loans issued in the United States. Needless to say, available credit unions increase the credit accessible by small businesses.
Source: NAR

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Great Numbers Give Great Message

admin — Mon, 02 Aug 2010 21:54:34 +0000

The 30-year fixed mortgage rate dropped to 4.54 percent, almost a full percent lower than the 5.25 percent of last year. Other positive signs prevail in the 15-year fixed rate which also hit a record low of 4 percent, smaller than the 4.69 percent from last year. Also, the five-year adjustable rate mortgage averaged 3.76 percent, better than the 4.75 percent from last year. To add, the one-year ARMs average 3.64 percent compared to 4.8 percent of last year.

Source: The Wall Street Journal, Nathan Becker (07/30/10)

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June Shows Strong Signs

admin — Mon, 02 Aug 2010 20:44:24 +0000

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New homes have risen 24 percent during the month of June compared to that of May. “The future is going to be dependent on job growth.” says Eric Green, chief market economist at TD Securities Inc. in New York.

Source: Bloomberg, Courtney Schlisserman (07/26/2010)

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Breckenridge and Summit County Co Real Estate Shows Recovery

admin — Wed, 28 Jul 2010 23:19:59 +0000

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From January through May 2010, the number of sales in Summit County real estate increased 20 percent, compared to the first five months of 2009. A Breckenridge ski-in, ski-out home sold in 2009 for a record $8.29 million. The most expensive residential Breckenridge land sold for $3.3 million in January 2010.

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