Month: May 2014

1.Pending Home Sales Edge Up in April
” Pending home sales improved for the second straight month in April, according to the National Association of Realtors®. Gains in the Midwest and Northeast offset declines in the West and South.”

2.Mortgage Applications Decrease Slightly in Latest MBA Weekly Survey
“Mortgage applications decreased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 23, 2014.  “

3.Pending Sales of U.S. Existing Homes Increased 0.4% in April
“Contracts to purchase previously owned homes rose for a second month in April, a sign the residential real estate market is stabilizing after a weak start to the year. “

4.Contracts to Buy US Homes Rose Slightly in April
“More Americans signed contracts to purchase homes in April than the prior month. But the pace of buying is still weaker than last year, as higher prices and relatively tight supplies have limited sales.”

5.Average US 30-Year Mortgage Rate Down to 4.12 Pct.
“Average U.S. rates on fixed mortgages fell this week for a fifth straight week. The spring home-buying season has started slowly, but it may be aided by the low rates.”

6.This real estate start-up is drawing a crowd.
“Welcome to CapBiz A.M., your morning primer on business news with a focus on Washington.”

7.Playing The Surge In California Real Estate
“On its face, the real estate environment seems like it’s in good shape. Not only are prices back up to – and in many cases eclipsing – pre-crash levels, but the number of foreclosures and underwater homeowners has fallen dramatically, especially in some of the harder hit areas around the country.”

8.U.S. pending home sales show signs of stabilizing
“Contracts to buy previously owned U.S. homes rose modestly in April, a sign of stabilization in the housing market, which had been pummeled by higher interest rates and a harsh winter.”

9.April pending home sales up 0.4%
 “CNBC’s Diana Olick breaks down the latest April pending home sales data. “

10.Pending home sales up just 0.4% in April, missing expectations
“Warmer weather and higher expectations failed to cause a meaningful surge in home sales.”

11.San Fernando Valley housing market makes gains
“he San Fernando Valley’s housing market scored a trifecta in April with the median price, sales and inventory all increasing from the prior month, according to the Southland Regional Association of Realtors.”

12.Fannie Mae Announces Expansion of HomePath for Short Sales Website
“Fannie Mae (FNMA/OTC) today announced the expansion of the HomePath® for Short Sales website, a communication tool created to help real estate professionals efficiently complete short sales and resolve challenges directly with Fannie Mae.”

TonyAlvarez.com

1.U.S. banks’ net income down from a year ago
“FORTUNE — Net income for all banks fell in the first quarter of 2014 as mortgage and trading revenue slid, according to data from the Federal Deposit Insurance Company (FDIC).”

2.Home prices remain on the rise
“U.S. home prices remain on the upswing at the start of 2014, as a slow recovery from the bust that led to the financial crisis continues.”

3.Mortgage Applications Decrease Slightly in Latest MBA Weekly Survey
“Mortgage applications decreased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 23, 2014.  “

4.Homeseller Reluctance Worsens U.S. Inventory Shortage
“Jaimie Adler said it’s getting cramped in the Lexington, Massachusetts, house she shares with her husband, two daughters and an au pair who occupies the former office. They’d sell, Adler said, if more homes were on the market in the Boston suburb. “

5.Redfin: Portland loves its luxe homes
“While local home sales may be stalled — largely because of a supply shortage —one end of the market is going gangbusters.”

6.How to spot a real estate bubble, or why I’m comfortable buying
“Inventory is low, and prices are relatively high. Some properties I’ve looked at within Loop 610 have appreciated 50 percent in the last two years.”

7.California employment may reach pre-recession levels by July
“The California economy is strengthening and will reach a major recovery milestone this quarter as non-farm payroll employment reaches its pre-recession, 2007 peak of 15.4 million jobs, according to the latest projection from the Business Forecasting Center at the University of the Pacific. “

8.Stockton leads nation in home price increases
“The Stockton-Lodi metropolitan area in the Central Valley has seen a 41.8 percent increase in the median price of homes on the market in the past year, according to a report Wednesday from realtor.com, a unit of Move Inc. (NASDAQ: MOVE) of San Jose.”

9.San Fernando Valley housing market makes gains
“The San Fernando Valley’s housing market scored a trifecta in April with the median price, sales and inventory all increasing from the prior month, according to the Southland Regional Association of Realtors.”

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

 

 

1.Home prices remain on the rise
“U.S. home prices remain on the upswing at the start of 2014, as a slow recovery from the bust that led to the financial crisis continues.”

2.US Home Prices Rise at Slower Rate in March
“U.S. home prices rose in March, but the gains are decelerating as fewer Americans can afford to buy.”

3.10 most unequal housing markets in America
“The 1% are gobbling up seven-figure homes at a record pace this year, even as the 99% are a little more skittish about the housing market. “

4.Case-Shiller: Boston home prices rise in March, slower than national average
“Hub home prices grew year-over-year in March by 8.2 percent, but slower than the average of 20 of the nation’s biggest cities, which saw growth of 12.4 percent, according to a survey released on Tuesday by the S&P Case-Shiller Home Price Indices.”

5.Nationwide, all-cash deals change the game in real estate
“A growing number of home buyers are bringing an unusual tactic to the negotiating table: an all-cash offer.”

6.Home Price gains ease
“as investors move out and mortgage-dependent buyers move in, the price gains are easing, but still above historical norms”

7.US home prices rise at slower rate in March
“U.S. home prices rose in March, but the gains are decelerating as fewer Americans can afford to buy.”

8.Robert Shiller: Mortgage rates may spur market

9.Foreclosure rates tumble
“The pace of foreclosures in the Central Valley and California as a whole slowed again in March, according to new figures released Tuesday by financincial information company CoreLogic Inc. (NYSE: CLGX) of Irvine.”

10.US home prices rise at slower rate in March
” U.S. home prices rose in March, but the gains are decelerating as fewer Americans can afford to buy.”

11.Another Rise in Home Prices Comes at a Slower Rate
“U.S. home prices rose in March, but the gains are decelerating as fewer Americans can afford to buy. The Standard & Poor’s/Case-Shiller 20-city home price index rose 12.4 percent in March compared with 12 months earlier. While healthy, that rate of growth has slowed from both February and January.”

12.Five Reasons The Housing Market Is Failing
“By now the housing market was supposed to be booming. Combine a growing population, low mortgage rates, years of pent-up demand, fewer foreclosures, lower unemployment plus a generally-better economy and the stage should be set for a very nice real  estate lift-off.”

TonyAlvarez.com

1.How to assess a real estate agent
“Selling or buying a home can come with a lot of confusion. If you’re in the market for a real estate agent, ask these questions to find the best fit”

2.Middle class will struggle to buy a home this year
“We’ve had the Rust Belt and the Bible Belt. Behold — the Home-Affordability Belt. There’s a growing divide between home affordability in Middle America and coastal cities, experts say, and mortgages in the most expensive metro areas are likely to be even further out of reach for the average house hunter this year”

3.Home Buyers, Sellers and Estate Agents, Sell Your House for Cash?
“There will be greater competition in affluent areas between estate agents for business due to higher potential commissions, therefore there is a tendency to more aggressively value these properties so as to secure business and shut out other agents which means houses at least when first going on the market will tend to be over priced by typically 10%. “

4.Urban real estate investing is back with a new name, look
“Urban investing — real estate investments made in densely populated, ethnically diverse communities — is making a comeback, but under new names such as impact, millennial or hipster investing. “

5.Home improvements that put green in your pocket
“Along with summer fun comes heavy energy use in many parts of the country. But there are more and more ways to cut that usage—and to be rewarded for doing so with money in your pocket. “

6.What does $600,000 buy you in Southern California real estate? A look at Pasadena, Arcadia, and Torrance. Some boomers cashing in their housing lottery ticket.
“We have an astute audience that reaches beyond the confines of the 405 and 10 freeways. I know it is hard for some readers to see beyond PCH but it is true, the U.S. is an expansive and far reaching country.”

7.Sales of new homes climb, offering more hope for turnaround
“Sales of new single-family houses increased in April while total inventory rose to its highest level in nearly three and a half years, offering more hope that the housing market has shaken off a recent slump, the U.S. Census Bureau and Department of Housing and Urban Development reported today.”

TonyAlvarez.com

1.New home sales jumped in April; first increase since January
“New home sales rose more than expected in April, indicating the housing market may be heating up.”

2.Home resales rise 1.3% in April as housing market heats up
“Sales of previously owned homes rose nationwide in April as the housing market picked up some steam amid the spring selling season.”

3.Gain in Existing U.S. Home Sales Lifts Spring Prospects
“Previously owned U.S. home purchases increased in April as a bigger supply of properties lured buyers and raised prospects for a stronger spring buying season. “

4.US New-Home Sales Rose 6.4 Percent in April
“Sales of U.S. new homes recovered in April after slumping in the previous two months. But Americans are still buying new homes at a slower pace than they did a year ago.”

5.Apartments, condos get a bigger piece of the construction pie
“Hardly a week goes by in this market without an apartment complex selling for seven, eight, even nine figures.”

6.HUD AND CENSUS BUREAU ANNOUNCE NEW RESIDENTIAL SALES IN APRIL
“WASHINGTON – Sales of new single-family houses in April 2014 were at a seasonally adjusted annual rate of 433,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.  This is 6.4 percent (±15.9%)* above the revised March rate of 407,000 and is 4.2 percent (±14.2%)* below the April 2013 estimate of 452,000.”

7.Talking real estate with Chris Vigil: A buyer representation agreement is good for both parties
“Things are heating up, literally. That goes for the real estate market as well. Summer is fast approaching and so to begins the season of buying and selling real estate. Many buyers will enter the market at this time because school is winding down.”

8.4 Things That Homebuyers Should Never Reveal
“You don’t need to be a world-class negotiator to nab a great deal on your dream home. More often, it’s a matter of knowing what not to say. One errant comment or paperwork misstep can compromise your negotiating position. Playing it close to the vest around home sellers and listing agents is critical.”

9.There are no quick fixes for inventory shortages, but market is moving in the right direction
“There’s been a lot of speculation about why for-sale inventory levels remain so stubbornly low.”

10.Sales of new homes climb, offering more hope for turnaround
“Sales of new single-family houses increased in April while total inventory rose to its highest level in nearly three and a half years, offering more hope that the housing market has shaken off a recent slump, the U.S. Census Bureau and Department of Housing and Urban Development reported today.”

11.Technology is great, but never forget that real estate is about people and relationships
“Why is it that so many companies that come along with seemingly groundbreaking business models, and ideas that are supposed to change the face of the brokerage business, eventually end up becoming traditional real estate brokerage firms?”

12.Affordable Homes Underwater: What Can Be Done?
“Nationwide, approximately 30 percent or one in three homes, with a a mortgage and priced within the bottom third of home values is underwater, (mortgage debt higher than current home value) based on a report from the first quarter of this year. This is compared to about 18 percent of homes in the middle third and nearly 11 percent of homes in the top third, according to Zillow.com.”

TonyAlvarez.com

1.Mortgage rates fall – lowest since October
“The average rate for a 30-year, fixed-rate loan fell to 4.14% from 4.2% last week, Freddie Mac said Thursday. “

2.Can you afford a home in these 27 cities?
“Jobs may not pay as much in the American heartland as they do in wealthy, coastal cities like New York or San Francisco, but there’s one aspect of life in the Midwest that can’t be beat: affordable home prices.”

3.Home sales rebound; jobless claims rise
“U.S. home resales rose in April and the supply of properties on the market hit its highest level since August 2012, hopeful signs for the stalled housing market recovery.”

4.Freddie Mac: Mortgage rates decline again as 30-year averages 4.14%
“Mortgage rates fell for the fourth week in a row, with Freddie Mac pegging the average for a 30-year fixed home loan at 4.14%, down from 4.2% last week.”

5.Existing home sales rise in April for first time this year
“Sales of previously owned homes rose nationwide in April as the housing market picked up some steam amid the spring selling season.”

6.US Home Sales Rose 1.3 Percent in April
“Sales of existing U.S. homes rebounded slightly in April, but the pace of buying remained below last year’s level.”

7.US Average Rate on 30-Year Home Loan 4.14 Percent
“Average U.S. rates on fixed mortgages fell this week for a fourth straight week.”

8.Middle class will struggle to buy a home this year
“We’ve had the Rust Belt and the Bible Belt. Behold — the Home-Affordability Belt. There’s a growing divide between home affordability in Middle America and coastal cities, experts say, and mortgages in the most expensive metro areas are likely to be even further out of reach for the average house hunter this year. “

9.Bond prices edge lower on positive housing, factory data
“U.S. Treasurys prices edged lower on Thursday after positive U.S. economic data on existing home sales and factory activity lifted sentiment, while larger-than-expected weekly jobless claims failed to spur safe-haven bids. “

10.Condo sales surge ahead of single-family homes
“Sales of existing homes improved slightly in April, but there is a growing divergence between the type of homes Americans are buying.”

11.WRAPUP 1-U.S. home sales rebound; jobless claims rise
“U.S. home resales rose in April and the supply of properties on the market hit its highest level since August 2012, hopeful signs for the stalled housing market recovery.”

12.US risks becoming a nation of renters: Bank CEO
“The United States is at risk of becoming a nation of renters because of the “totally unnecessary” constraints that continue prevent lenders from giving out mortgages, former Wells Fargo chairman and CEO Richard Kovacevich told CNBC on Thursday. “

13.US home sales rose 1.3 percent in April
“WASHINGTON — Sales of existing U.S. homes rebounded slightly in April, but the pace of buying remained below last year’s level.”

TonyAlvarez.com

1.NAR Member Survey Shows Rise in Realtor® Income and Sales Volume

“Reflecting the 11.5 percent growth in home prices last year, income and sales volume jumped for the third year in a row, according to the 2014 National Association of Realtors® Member Profile. The survey also found an increase in new and younger members to NAR in 2013.”

2.Lansner: Homebuying upswing inspires hope
“Month-to-month analysis of any economic trend is often lame – especially in a cyclical business like real estate.”

3.Housing Debt Still Traps 10 Million Americans
“Nearly 10 million Americans remain financially trapped by homes worth less than their mortgage debts — an enduring drag on the U.S. economy almost seven years after the housing bust triggered the Great Recession.”

4.Lower rates don’t boost mortgage applications
“Mortgage rates have hit their lowest levels since November, but it is still not enough to entice people to apply for loans to buy homes.”

5.Behind the mortgage numbers
” mortgage applications week over week are up about 1%. but behind that are two key variables.”

6.United States of Cash Sales: A feudal changing of the guard. 58 percent of all real-estate-owned sales went to cash buyers out flanking traditional buyers with no access to pools of cash.
“The old adage that cash is king seems to be the new mantra for real estate in a post housing crash world. Investors continue to dominate the housing market out maneuvering house horny buyers that simply want a place to call home.”

7.Housing debt still traps 10 million Americans
“Nearly 10 million Americans remain financially trapped by homes worth less than their mortgage debts — an enduring drag on the U.S. economy almost seven years after the housing bust triggered the Great Recession.”

8.Why America’s Most Affordable Homes Likely Aren’t for Sale
“The affordable homes most likely to be sought after by first-time homebuyers are also those most likely to be kept off the market because their current owners are in negative equity, or underwater. Underwater homeowners — those who owe more on their mortgages than their homes are worth — have a very difficult time listing and selling their homes, even if they want to, without engaging in a short sale or dipping into their savings.”

9.Economy Appears to Gain Strength After Flat First Quarter
“WASHINGTON, DC – After stalling out in the first quarter of the year, recent indicators suggest the economy is poised for a pick-up in growth in the second quarter of 2014, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research Group. March data revealed positive consumer spending in both goods and services, helping set up a trajectory for more solid spending growth in the current quarter. “

10.Rising home prices boost Realtor income, but expenses are growing even faster
“Helped by rising home prices, Realtors saw their incomes jump for the third straight year in 2013, but an even bigger jump in expenses ate into their take-home pay, according to an annual member survey from the National Association of Realtors released today.”

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.’I’m too afraid to sell my home’
“In hot real estate markets all over the country, homeowners are feeling stuck: They know they can get top dollar if they sell their home, but fear they will have no place to go if they leave.”

2.Appraisers are drawing less criticism from real estate agents
“Not long ago they were the punching bags of American real estate, accused of rank incompetence, wrecking home sales and failing to pick up on signs of the housing turnaround.”

3.Your kids decide when you buy a home 

” As it turns out, it’s likely your kids are the ones pulling the strings. That’s according to survey results from Coldwell Banker Real Estate, released on Tuesday, which found that 79% of Millennial parents (between the ages of 18 and 34) and 70% of Generation X parents (between the ages of 35 and 49) make major purchasing decisions around their children. Moreover, 67% of Millennial parents and 64% of Gen X parents said they were more concerned about the immediate impact of a move on the emotional well-being of their children than whether moving was a good decision in the long run, according to the survey of 2,000 U.S. parents. “

4.Multi-Family Real Estate Forecast: 2014-2020
“Multi-family housing construction is doing surprisingly well recently. Over the long run, housing units in buildings with five or more housing units comprise about 25 percent of all housing units constructed. So far in 2014, the figure is 35 percent. Why is multi-family so popular now?”

5.Real Estate Q&A: Are Condo Hotels A Good Investment?
“Salomon A. of South FL asks: I inherited a condo-hotel property and am trying to figure out if we should sell it and invest elsewhere, or wait for more rental income. So far, our net yield is around 2 percent. Do condo-hotel properties behave like other real estate investments in terms of appreciation?”

6.Summer buying season in bloom
“The summer home buying season is in bloom and a troubling trend might be taking shape.”

7.Why America’s Most Affordable Homes Likely Aren’t for Sale
“The affordable homes most likely to be sought after by first-time homebuyers are also those most likely to be kept off the market because their current owners are in negative equity, or underwater. Underwater homeowners — those who owe more on their mortgages than their homes are worth — have a very difficult time listing and selling their homes, even if they want to, without engaging in a short sale or dipping into their savings.”

8.Nearly One-Third of Americans Live in Counties Where One in Five Homeowners is Underwater: Heat Map
“A high percentage of homes with negative equity, or underwater, is a lingering legacy from the recent housing and foreclosure crisis. Although these underwater homes are not as direct of a threat to the housing market as foreclosures, they are hobbling the housing recovery by preventing many homeowners (17 percent of all homeowners with a mortgage nationwide) from participating in the market.”

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.US Home Building Climbed 13.2 Percent in April
“U.S home construction surged in April to its highest pace in five months. Almost all that increase came from the volatile apartment sector, a sign that Americans are still struggling to buy single-family homes.”

2.The 10 best cities to flip a house
“As the national housing market continues to rebound, real-estate investors are trying their hand at home flipping — buying and selling a house within six months.”

3.How Smart Houses And Big Data Will Change Real Estate Economics
“One of the features of big data is the accumulation of massive amounts of information that are not suited to traditional econometric and statistical techniques.”

4.Home construction surge
“There was a surge in new home construction in April, but that volume was driven almost entirely by multi-family units.”

5.Apartment nation: Multi-unit housing starts up 416 percent from 2010 low. Builders preparing for a nation with high rental demand.
“There is a simple bet to take if you believe housing is going to lead this nation into a next wave of prosperity. “

6.Top U.S. problems listed
“Twenty percent of Americans say unemployment or jobs is the most important problem facing the country currently, up from the 14 percent who mentioned these issues in April. It’s the top issue – barely – among a litany of complaints seen in the newest Gallup Inc. survey.”

7.Summer buying season in bloom
“The summer home buying season is in bloom and a troubling trend might be taking shape.”

8.Don’t sabotage your MLS listing: 3 digital mistakes you can correct today
“Creating a real estate listing and uploading it to your MLS is a fairly routine operation. With so much of the real estate world focused online, though, agents should spend more time strategically looking at the way their listings are formatted. “

9.Apartment construction surges across the Southland amid rising rents
“Apartment construction is surging, in Southern California and nationwide. New apartments and condominiums drove building permits up 8% in April from the prior month, to their fastest pace in nearly six years, the Commerce Department reported Friday.”

TonyAlvarez.com

1.Stocks barely budge at end of volatile week
“After hitting new highs earlier in the week, stocks were under pressure for a third day Friday as worries about the economic recovery grow.”

2.Housing starts up sharply; permits highest since 2008
“(Reuters) – U.S. housing starts jumped in April and building permits hit their highest level in nearly six years, offering hope that the troubled housing market could be stabilizing.”

3.Delinquency and Foreclosure Rates Continue to Improve
“The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 6.11 percent of all loans outstanding at the end of the first quarter of 2014, the lowest level since the fourth quarter of 2007.  The delinquency rate decreased 28 basis points from the previous quarter, and 114 basis points from one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey. “

4.U.S. Stocks Fluctuate as Confidence Drop Offsets Housing
“U.S. stocks fluctuated, after the Standard & Poor’s 500 Index fell the most in a month yesterday, as an unexpected drop in consumer confidence offset a rise in the pace of home construction. “

5.US Home Building Climbed 13.2 Percent in April
“U.S home construction surged in April to its highest pace in five months. Almost all that increase came from the volatile apartment sector, a sign that Americans are still struggling to buy single-family homes.”

6.The worst markets for underwater mortgages
“The number of homes in negative equity has fallen as the housing market has recovered in recent years, but new data shows they’re still holding back the housing rebound in some areas. “

7.The 10 best cities to flip a house
“As the national housing market continues to rebound, real-estate investors are trying their hand at home flipping — buying and selling a house within six months.”

8.Housing starts surge, yes, but mostly for apartments
“Builders ramped up construction in April, but they were mostly building multifamily apartment buildings. A monthly report from the U.S. Census Bureau showed total housing starts up 13 percent month to month, but that was driven by a 43 percent monthly jump in buildings with five or more units. Single-family housing starts rose just under 1 percent for the month.”

9.Housing Gets a Boost as Construction, Permits Rise Sharply
“WASHINGTON — U.S. housing starts jumped in April and building permits hit their highest level in nearly six years, offering hope that the troubled housing market could be stabilizing.”

10.Setting The Stage For A Super Home Sale
“If you’re getting ready to sell your home, there are a few things you should do first. At the top of the list are repairs, decluttering, and staging your home for a super sale. With the help of your agent and/or homestager, you can create the perfectly staged home that’s eye-catching at first glance.”

TonyAlvarez.com