Current Real Estate Climate

March 21, 2013

Existing Home Prices and Sale on the rise

According to the National Association of Realtors, February home sales demonstrated an increase in both sales and prices of homes.  That's a good thing!  Numbers of sales have shown "year ago" increased fo 20 consecutive months.  Oruces show "year ago" prices for 12 consecutive months.

Homes ...

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Jan. 21, 2013

December 2012 Market report

REALTORS®: 2012 A STRONG TURNAROUND YEAR FOR INDIANA HOUSING MARKETS       
Statewide, market activity and home prices better each month of 2012 than the year before

(INDIANAPOLIS, IN) – The monthly Indiana Real Estate Markets Report today released by the state’s REALTORS® also provides year-end data which shows that ...

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Jan. 21, 2013

New Foreclosure Rules on 2014

Beginning in January 2014, the CFPB (Consumer Financial Protection Bureau) released guidelines for mortgage servicers to help protect out would be foreclosures.  The goal is to protect/prevent "unnecessary foreclosures" and to ensure fair treatment.

According to the new guidelines:

  • Mortgage servicers are prohibited from foreclosing on a home ...
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Jan. 19, 2013

New Construction permits up more than last 4 years

Breaking ground in December set a new pace in 2012 and is a positive sound for 2013.

Cautiously, I’m optimistic. :)

New construction starts are a HUGE indicator for the economy.  Think of it this way…  this is creating new homes, not just recycling existing homes.  Economist refer to ...

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Jan. 17, 2013

Going into a fight with a butter knife

Home owners that had foreclosures a while back are trying to secure mortgages again.  FHA reuqires that foreclosure owners wait 3 years until they purchase a home.  This includes short sales.

One of the biggest obstacles in real estate today is getting financing.  I have several clients ...

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Jan. 17, 2013

Inventory levels drop. A good sign?

In some major California cities, the For-sale inventories dropped the most year-over-year in December 2012.  Sacremento had the highest drop at 68%.

  • Sacramento, Calif.: -68%
  • Stockton-Lodi, Calif.: -65%
  • Oakland, Calif.: -64%
  • San Jose, Calif.: -52%
  • Seattle-Bellevue-Everett, Wash.: -45%
  • San Francisco: -43%
  • Ventura, Calif.: -43%
  • Riverside-San Bernardino, Calif.: -41%
  • Los ...
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Jan. 5, 2013

Top 5 Spendy home markets

As you would expect, the priciest markets are also some of the largest cities.  With that in mind, you'd think that incomes would correspond.  Well, not always.  A drum roll, please...

Top 5 cities that are the least affordable:

1.  San Francisco. 

Average income ...

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Jan. 4, 2013

Renter wannabe owners on the rise!

Renter who want to become owners is on the uptake according to a recent survey.  Six of 10 renters now plan to purchase a home in the next 2 years.  That's good optimism for the homeowners.  In another study, it showed an increase in renters intending ...

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Jan. 3, 2013

What Gen X is doing with the housing downturn

Generation X (or Gen X, as we say) make s up the bulk of foreclosures of homes inAmerica.  This is particularly true of the well educated and affluent members of the successors of the baby boomers.  Perhaps the predatory lending has reaped its full crop (?)

 

Gen X’rs ...

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Jan. 3, 2013

Shadow Inventory begins to wane

Shadow inventory is the supply of homes in forclosure or have seriously deliquent mortgages and are coming the market soon.

The number of these "shadow" homes dropped from 2.6 millino on October 2011 to 2.3 million in October 2012.  Progress?  Maybe.

Some experts once predicted that ...

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