NAR Supports the Growth of Small Businesses
August 2, 2010 by admin
Filed under Home Resales, Investors, Mortgages, NAR, Pending Home Sales, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
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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
August 2, 2010 by admin
Filed under Home Resales, Mortgages, Pending Home Sales, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
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
August 2, 2010 by admin
Filed under Home Resales, Pending Home Sales, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
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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
July 28, 2010 by admin
Filed under Home Resales, Pending Home Sales, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
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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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DJSP Enterprises Acquires Timios, Inc.
July 28, 2010 by admin
Filed under Home Resales, Pending Home Sales, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
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DJSP Enterprises completed its acquisition of Timios, Inc. DJSP Enterprises is one of the largest providers of processing services for the mortgage and real estate industries. It now plans to leverage Timios’ best in class technology and paperless processes across the existing operations in Florida. “Completion of this acquisition represents a significant step forward in our quest to become the leading cyclical provider of products and services to the mortgage and real estate industries,” said David Stern, Chief Executive Officer for DJSP.
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Portland Ranks 6th in Impressive Index
July 28, 2010 by admin
Filed under Home Resales, Pending Home Sales, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
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Portland, Oregon ranks 6th of the 20 cities tracked by Case Shiller. The index reveals that a dollar invested in the Portland real estate market would be worth $1.47. That is a 47% return on each dollar invested. DC, Los Angeles, New York, San Diego, and Boston place among the top five with Washington DC’s impressive 82% return.
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Strong Gains in Home Sales in all Counties of The Metro Chicago Real Estate Market
July 27, 2010 by admin
Filed under Home Resales, Mortgages, Pending Home Sales, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
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The first half of 2010 yielded substantial gains in home sales activity in nearly every portion of the seven-county metropolitan Chicago real estate market, with Kane County leading the way, according to an analysis of sales data by RE/MAX. Sales of detached and attached homes in the metro area rose to a combined total of 38,053 units, a 35 percent increase over the 27,757 sales recorded in first half of 2009. Home sales in Kane County increased 61 percent, with 2,523 homes changing hands, compared to 1,564 sales during the first six months last year. Sales of detached homes in Kane rose 62 percent to 2,058 units and sales of attached homes climbed 59 percent to 465 units from the same period in 2009.
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California Leads the Way
July 26, 2010 by admin
Filed under california, Home Resales, Pending Home Sales, Positive Real Estate, Positive Real Estate Brokerages, Real Estate Articles
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Berkeley, California homes lead the country in homes sold above the asking price, about 108% above the asking price. Seven of the top ten zip codes with homes sold above the asking price where in California.
Berkeley, California homes lead the country in homes sold above the asking price, about 108% above the asking price. Seven of the top ten zip codes with homes sold above the asking price where in California.
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Pending Home Sales Spike
April 6, 2010 by admin
Filed under Pending Home Sales
Pending Home Sales Index is an important measurement. This is because a “pending home” is a property that is under contract to sell, but not yet closed. Pending home sales in Feb was higher and may indicate great sales data is coming as they close escrow and settle.
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February Numbers Pleasantly Surprise
April 5, 2010 by admin
Filed under Pending Home Sales
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Lawrence Yun, chief economist for NAR, said Monday that “the early stages of a second surge of home sales.” adding that ,”we need a second surge to meaningfully draw down inventory and definitively stabilize home values”. Sales rose 8.2 percent in February, the National Association of Realtors said.
The Institute for Supply Management’s non-manufacturing barometer gave the highest rise in three years, rising to 55.4 in March, up from 53 in February. Much of the momentum came from a surge in new orders and business activity.
