HAMP & Better Home Affordability
December 27, 2010 by admin
Filed under Positive Real Estate, Real Estate Articles
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Two news stories that point to an improving housing market.
Refinancings through the Home Affordable Refinance Program (HARP) increased 26% in the third quarter of 2010.
Loan Modifications Fannie Mae and Freddie Mac loan modifications through the Home Affordable Modification Program (HAMP) increased 16% in the quarter. Loans modified in the last 3 quarters are performing substantially better 3 months after modification, compared to loans modified in earlier periods. 35,400 HAMP trial loan mods mods transitioned to permanent loans during the 3rd quarter.
Lower Defaults-60 plus-days delinquent declined for the 3rd consecutive quarter. The 60-plus-days delinquent loans decreased.
Home Sales are up- HUD-U.S. Department of Housing and Urban Development & the U.S. Department of the Treasury released the December Housing Scorecard. Home affordability in the housing market is better with interest rates near record lows.
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10 Reasons Why Real Estate Is Back in 2011
December 24, 2010 by admin
Filed under Real Estate Articles
- Image by TheTruthAbout via Flickr
1. Mortgage rates will stay low.
2. Lenders may loosen standards.
3. Tax cut extension could lead to faster recovery.
4. Americans still want to be homeowners.
5. Homebuyers are looking for long-term ownership, not a fast profit.
6. Home prices are expected to dip again.
7. Builders will start building again.
8. Inventory of all types will increase.
9. Homes will keep shrinking.
10. There will be more opportunities available for cash buyers and investors.
http://financialedge.investopedia.com/financial-edge/1210/10-Reasons-Real-Estate-Could-Rebound-In-2011.aspx
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National Association of Realtors Pending Sales Upin October MOM
December 3, 2010 by admin
Filed under Pending Home Sales, Real Estate Articles
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NAR is reporting more homebuyers signed purchase contracts in October compared to September. This is their report .
Pending sales of existing homes rose 10.4 percent month-to-month in October, to 89.3. An index score of 100 is the average level of contract activity in 2001, the first year that index data was collected and a record year for existing-home sales.
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Best Places for a Real Estate Deal In America
November 28, 2010 by admin
Filed under New York, Real Estate Articles
- Image by New York Public Library via Flickr
From the WSJ:
Real estate in Westchester , NY. Westchester, New York has become an even more attractive option to invest in real estate due to its historic appreciation in real estate. Purchasing a home in Westchester NY may be a terrific investment.
Westchester , NY is NY City close and is gorgeous countryside… rich in history, excellent schools and 20 – 25 minute train ride into Manhattan. Westchester County unemployment rate remained well below the national average at 7.3% in July, reflecting the health of New York City, where many local residents work.
<a href=”http://westchester-ny-real-estate.com/villages-of-bedford.htm “>Bedford homes</a> offer City closeness and the countryside.
People moving to New York to take high paying jobs and experience the cosmopolitan lifestyle of the few world financial capitals is the key for New York real estate now. The outlook is currently a little shaky. I will through out one new factor, which is that city’s with strong mass transit systems are the most cost effective places to live in a world where energy supply, not money supply will be the gating factor for growth.
Related articles
- Close to Home: Sales bounce back in Westchester, N.Y. (usatoday.com)
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Sold! Sheraton Delfina Santa Monica Hotel
November 25, 2010 by admin
Filed under Positive Real Estate, Real Estate Articles
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From the Luxist and LA Times
The Sheraton Delfina Santa Monica Hotel in Santa Monica, California has new owners. The LA Times reports that the luxury 310-room hotel has been bought for $102.8 million by Pebblebrook Hotel Trust, a Maryland real estate investment trust from Regis Properties, and investment group headed by hotelier Brad Korzen. Korzen’s Viceroy Hotel Group will continue to manage the hotel. Other Pebblebrook hotels include the Sir Francis Drake Hotel in San Francisco, the InterContinental Buckhead in Atlanta, the Hotel Monaco in Washington DC. Back in October we mentioned that the Pebblebrook Hotel Trust had picked up the Grand Hotel in Minneapolis for $33 million.
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Mortgage APs Highest in 6 Months
November 24, 2010 by admin
Filed under Mortgages, Positive Real Estate, Real Estate Articles
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U.S. mortgage applications for home purchases rose to their highest level in more than six months last week, buoying activity otherwise weighed down by waning refinancing, an industry group reported on Wednesday.
The Mortgage Bankers Association’s seasonally adjusted purchase applications index jumped 14.4 percent to 205.0 in the week ended Nov. 19, the highest since the week ending May 7, the MBA said on Wednesday. The refinancing index slumped 1 percent to 3,793.6.
The composite index, which includes loans for home purchases and refinancings, increased 2.1 percent to 728.8, the MBA said.
“The increase in purchase applications last week aligns with other incoming data suggesting that consumers are feeling somewhat more confident with their financial situation,” Michael Fratantoni, the MBA’s vice president of research and economics, said in a statement.
Reuters
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Miami Condos Sales up 43%
November 16, 2010 by admin
Filed under Florida, Real Estate Articles
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Miami Condominium Sales Rise 43 Percent in 3rd Quarter
In the Miami Metropolitan Statistical Area (MSA), sales of homes increased 21 percent in the 3rd qtr. compared to the 3rd qtr. last year and 73 percent compared to the 3rd qtr. of 2008. This rise marks 9 straight quarters of increasing sales according to the Miami Association of Realtors and the Southeast Florida Multiple Listing Service.
Florida sales of condominiums also increased 15 percent.
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10 Reasons to Buy a Home
September 17, 2010 by admin
Filed under Real Estate Articles
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Why is now a great time to buy? Here are 10 reasons:
1. You can get a good deal. Prices are down 30 percent on average. They’re at a level that makes sense for people’s income.
2. Mortgages are cheap. At 4.3 percent on average for a 30-year fixed-rate mortgage, your costs to own are down by a fifth from two years ago.
3. You can save on taxes. When you add up the deductions for mortgage interest and others, the cost of owning can drop below renting for a comparable place.
4. It’ll be yours. The one benefit to owning that never changes is that you can paint your walls orange if you want (generally speaking; there might be some community restrictions). How many landlords will let you do that?
5. You can get a better home. In some markets, it’s simply the case that the nicest places are for-sale homes and condos.
6. It offers some inflation protection. Historically, appreciation over time outpaces inflation.
7. It’s risk capital. If the economy picks up, you stand to benefit from that, even if you’re goal is just to have a nice place to live.
8. It’s forced savings. A part of your payment each month goes to equity.
9. There is a lot to choose from. There are some 4 million homes available today, about a year’s supply. Now’s the time to find something you like and get it.
10. Sooner or later the market will clear. The U.S. is expected to grow by another 100 million people in 40 years. They have to live somewhere. Demand will eventually outpace supply.
Source: Wall Street Journal, Brett Arends (9/16/10)
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Texas Hill Country Real Estate Market Remains Steady; Boosting Horseshoe Bay Home Values
September 7, 2010 by admin
Filed under Real Estate Articles
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Horseshoe Bay, TX
The real estate woes which are affecting most of the country today seem to have missed central Texas and the Hill Country. Sales in Austin and the Highland Lakes communities, including Horseshoe Bay homes for sale and Lake LBJ real estate, remain brisk and steady.
Horseshoe Bay ONE Real Estate, Inc. announces its location on 112 acres of land located in Horseshoe Bay, TX. This tract fronts on two major arteries that are currently being engineered as a mixed use development. The commercial tract is poised for significant growth in the Horseshoe Bay real estate market. The property boasts a new veterinary clinic plus a retirement development that is currently under contract.
Horseshoe Bay ONE Real Estate combines resources with Burget, Derrick & Associates to create a formidable team of experienced Horseshoe Bay agents and support crew.
According to a Forbes report based on IRS data, an increasing number of wealthy Americans are moving to Llano County Texas. This area ranked in the top four national destinations for wealthy investors seeking waterfront properties and ranches, is leading the market for smart investment choices. Texas has the forth lowest tax burden in the country and great year round weather. “Whether investors are looking to find Llano County Ranches or Horseshoe Bay lakefront homes, home buyers will experience a positive and profitable, long-term growth trend,” comments Art Snell, President of Horseshoe Bay ONE Real Estate.
Horseshoe Bay, located 35 miles west of Austin, TX, is planning for significant growth that is predicted over the next five years. The city of Horseshoe Bay is located on the shores of Lake LBJ, a constant level lake and is the home of Horseshoe Bay Resort blessed with three world class golf courses and Jack Nicklaus is building a forth slated to open in November. In addition Escondido, a private club, is located in Horseshoe Bay provides a fifth course touted as one of the finest courses in Texas.
With the increased growth seen in the local real estate market, Horseshoe Bay ONE Real Estate is on the path of progress and growth that is unique to most real estate markets in the country. Buyers are forsaking Wall Street for real estate and opportunities abound in this market. For additional information and opportunities about Texas Hill Country real estate or Horseshoe Bay TX homes, please visit www.hsbONE.com.
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Housing Market Boast Brilliant Numbers
August 4, 2010 by admin
Filed under Home Resales, Investors, Mortgages, Positive Real Estate, Real Estate Articles
- 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.
