Please visit my blog at its new address … www.realestatebossierblog.com
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February 11, 2011 • 1:30 pm 0
Please visit my blog at its new address … www.realestatebossierblog.com
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February 11, 2011 • 11:30 am 0
In January, foreclosure filings, which include default notices, scheduled auctions, and bank repossessions, rose 1.0 percent but were down 17 percent year-over-year, according to data from RealtyTrac. Default notices fell for the 12th straight month and are now 27 percent below year-before levels. James J. Saccacio, chief executive officer of RealtyTrac, said there have now been three straight months with fewer than 300,000 properties receiving foreclosure filings, following 20 straight months when the totals exceeded 300,000. More here, here, and here.
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February 10, 2011 • 11:41 am 0
Moody’s Analytics tracked the ratio of median home prices to annual household income in 74 markets and found housing affordability had returned to pre-bubble levels in 47 of those markets. Mark Zandi, chief economist at Moody’s, said, based on incomes, housing is as affordable as it gets, making it a good time to buy a home. During the housing bubble, prices rose faster than incomes and pushed the ratio to a peak of 2.3. As of last September, however, it dropped to 1.6, falling below the historical average of 1.9 between 1989 and 2003. More here, here, and here.
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February 9, 2011 • 8:15 am 0
According to The Mortgage Bankers Association’s Weekly Applications Survey, the average contract interest rate for 30-year fixed-rate mortgages rose to 5.13 percent last week from 4.81 percent the week before. The rate increase resulted in a 7.7 percent drop in the Refinance Index and a 1.4 percent decrease in the Purchase Index. Michael Fratantoni, MBA’s vice president of research and economics, said mortgage rates were up, as many incoming economic indicators continue to show stronger growth than had been anticipated. The four week moving average for total loan application volume is down just 0.9 percent. More here and here.
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February 8, 2011 • 1:26 pm 0
Among consumers who purchased their first home in the last year, 67 percent said market conditions allowed them to afford a home sooner than they anticipated, according to a recent survey from Coldwell Banker. The survey found a majority of first-time buyers were able to get a better price on a home in a more desirable neighborhood than they expected. Also, 40 percent of those surveyed said they were able to afford a bigger house and 43 percent said they were able to lock in a lower mortgage rate than expected. According to The National Association of Realtors, first-time buyers accounted for half the market in 2010. More here and here.
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February 7, 2011 • 1:03 pm 0
An analysis of home prices in more than 375 U.S. markets shows values have already leveled in one out of four metro areas. The report, released by Fiserv, lists San Diego, Washington D.C., and San Francisco among the areas where prices have already stabilized and estimates that 75 percent of metro markets will stabilize by the end of the year. The data also found increased demand as buyers return to the market due to improved affordability. More here and here.
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February 4, 2011 • 12:16 pm 0
The U.S. Treasury and the Department of Housing and Urban Development released their January Housing Scorecard, which collects key housing-market indicators and highlights of the Administration’s recovery efforts. The scorecard shows increases in new and existing home sales, record high affordability, and improved homeowner assistance through the Federal Housing Administration and the Home Affordable Modification Program. HUD assistant secretary, Raphael Bostic, said the Administration’s efforts to provide mortgage assistance to struggling homeowners and promote stability in the market have resulted in improved conditions but the market remains fragile, as prices are unsettled. More here.
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February 4, 2011 • 11:33 am 0
According to a NATIONAL ASSOCIATION OF REALTORS® survey of 3,793 adults conducted by Harris Interactive and released in January 2011, home owners and renters agree that home ownership benefits individuals and families, strengthens our communities, and is integral to our nation’s economy.
Here you’ll find highlights from the research report plus easy ways to share the information.
Among the findings of NAR’s “American Attitudes About Homeownership” survey:
The survey also confirmed that home owners and renters continue to have concerns about the economy:
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February 3, 2011 • 12:44 pm 0
After a downturn at the end of 2010, home prices have started 2011 on the rise. According to Clear Capital’s monthly Home Data Index, national home prices stopped declining in early January and ended the month up 0.9 percent. The gains were the first since last August. Dr. Alex Villacorta, senior statistician at Clear Capital, said the uptick was the first improvement in prices unrelated to federal incentives since the downturn began. The change in prices is also significant as the first months of the year are typically affected by slow sales, suggesting buyers are anticipating the start of a sustained recovery. More here and here.
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February 2, 2011 • 11:56 am 0
According to The Mortgage Bankers Association’s Weekly Applications Survey, total mortgage loan application volume was up 11.3 percent last week from the week before. The Refinance Index rose 11.7 percent and the Purchase Index increased 9.5 percent. The average contract interest rate for 30-year fixed-rate mortgages climbed to 4.81 percent from 4.80 percent the previous week. More here and here.
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