Category: Around the Web

1.Construction of New U.S. Homes Declines on Plunge in South
“Housing starts unexpectedly declined in June to a nine-month low, led by a record plunge in the South that shows the construction industry must still overcome hurdles before it can contribute more strongly to U.S. economic growth. ”

2.Average US Mortgage Rates Dip Slightly
“Average U.S. mortgage rates declined slightly this week with rates remaining near historic lows.”

3.Latest Fed Survey Sees Improved Economy
“The economy kept expanding in all regions of the country in June and early July, helped by strength in consumer spending, a Federal Reserve survey released Wednesday indicates.”

4.US Home Construction Drops 9.3 Percent in June
“U.S. home construction fell in June to the slowest pace in nine months, a setback to hopes that housing is regaining momentum and will boost economic growth this year.”

5.Home sales get even weaker, St. Louis Fed finds
“The housing news continues to get worse in the region encompassed by the Federal Reserve Bank of St. Louis.”

6.RealtyTrac reports falling foreclosure rates
“The RealtyTrac real estate market data analysis firm has released a massive amount of foreclosure statistics in a mid-year report showing a general downward trend in sour loans in or headed toward foreclosure.”

7.REAL ESTATE: Inland home prices continue gradual rise
“Home sales continued to slow in Inland Southern California last month, and prices are increasing at a slower pace – signs that the market is reacting to local buyers and sellers and not to outside economic interests, a report released Tuesday found.”

8.U.S. economy gaining traction despite weak housing
“The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to sustained momentum in the economy even as home building fell for a second straight month in June.”

9.America’s lost oomph
“ACK in the mid-1990s, America’s economic prospects suddenly brightened. Productivity soared. Immigrants and foreign capital flocked to take advantage of what was quickly dubbed the “New Economy”. The jobless rate fell to 4%, yet inflation remained low. All this led economists to conclude that America’s potential rate of growth—the speed at which the economy can expand while keeping unemployment steady and inflation stable—had risen sharply from its decades-long average of 3%, to 3.5% or even higher.”

10.San Francisco median home price hits $1 million
“If San Francisco needs a new name in the zany plan to create six Californias, they might as well call it “Millionaireville.”

11.Paulson: Buying a house still best investment
“Billionaire money manager John Paulson believes buying a home to live in is the best investment possible. ”

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

 

 

 

1.The Recession’s Lost Generation of Homeowners Isn’t Millennials – It’s the Middle-Aged
“Though the published homeownership rate for young adults is still falling, true homeownership among young adults started rising in 2013. Adjusted for longer-term demographic shifts, young-adult homeownership is now at pre-bubble levels, but middle-aged homeownership is lagging. ”

2.The Potential Upside of China’s Rising U.S. Real Estate Investments
“China has emerged as the second-largest foreign investor in U.S. commercial real estate (CRE), after Canada, with an 8% share of the total cross-border investments in U.S. CRE, according to Real Capital Analytics (RCA).¹ For some time, Chinese investors have been riding the U.S. CRE wave: from January 2005 to March 2014, Chinese investors made direct acquisitions of $8.5 billion in U.S. CRE, $5.8 billion of which was invested between January 2013 through March 2014.”

3.Southland housing market may finally be getting back to normal
“The housing recovery looks to be losing steam. But that may not be a bad thing.”

4.Bay Area housing market keeps surging, but lending remains tight
“Home prices in the Bay Area continued their upward surge in June, though buyers there are struggling with low inventory and still-tough lending requirements.”

5.Mortgage Applications Decrease in Latest MBA Weekly Survey
“Mortgage applications decreased 3.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 11, 2014.  The previous week’s results included an adjustment for the July 4th holiday. ”

6.US Homebuilder Confidence Surges in July
“U.S. homebuilders’ confidence in the housing market surged this month to the highest level since January, reflecting a pickup in sales of new homes and heightened expectations for sales the second half of the year.”

7.Luxury home market continues to improve
“Homes worth $900,000 or more — in the Sacramento region, that’s the luxury market — showed a strong year-over-year gains in sales, according to Trendgraphix.”

8.How to Buy a Home in a Competitive Real Estate Market
“Demand for real estate is growing in many markets across the country. That’s great, but it creates competition in the form of all-cash offers, offers for thousands of dollars over list price, and a growing gap between affordability and prices in a given area. ”

9.Latest Fed Survey Sees Improved Economy
“The economy kept expanding in all regions of the country in June and early July, helped by strength in consumer spending, a Federal Reserve survey released Wednesday indicates.”

10.Home prices still climbing, but at slower pace
“Home prices are still climbing in the Sacramento area, but at a much more moderate pace than a year ago, DataQuick reported today.”

11.Bay Area home prices rise, but the pace slows
“Bay Area home sales rose slightly in June for the first time since September while the pace of price increases slowed, according to report released Wednesday.”

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

 

 

 

1.U.S. retail sales, manufacturing data point at firming economy
“A gauge of U.S. consumer spending rose solidly in June, in the latest indication that the economy ended the second quarter on a stronger footing. ”

2.US Retail Sales Tick up 0.2 Percent in June
“U.S. retail sales increased slightly in June, evidence that consumers remain cautious despite steady job gains this year.”

3.Why mortgage rates haven’t risen as expected
“By most estimates, mortgage rates were expected to climb this year, with rates on the 30-year fixed-rate mortgage predicted to exceed 5%. Instead, rates are now lower than they were this time in 2013 — much to the advantage of mortgage shoppers. ”

4.Economy still needs help, Federal Reserve chair says
“Federal Reserve Chair Janet Yellen said Tuesday that the economic recovery is not yet complete and for that reason the Fed intends to keep providing significant support to boost growth and improve labor market conditions.”

5.Southern California home prices match 6½-year high
“Southern California home prices climbed to their highest levels in nearly 6½ years in June even as increases cooled and sales remained sluggish, a research firm said Tuesday.”

6.Bay Area apartment rents continue relentless rise
“Bay Area apartment rents continued their relentless rise in the second quarter, setting a record on gains of more than 10 percent from the same period last year, reaching an average of $2,158 a month, according to a report released Tuesday.”

7.Southern California home prices hit 77-month high, but sales fall again
“Southern California’s housing prices hit their highest level in 77 months during June but sales remained in a funk, falling 4 percent from a year earlier, a market tracker said Tuesday.”

8.Southland Home Sales Down from Last Year Again; Price Gains Throttle Back
“Southern California homes sold at the slowest pace for a June in three years as investor purchases fell again and other would-be buyers continued to struggle with inventory and affordability constraints. The median price paid for a home rose to its highest level in 77 months but the single-digit gain from a year earlier was the smallest in two years, a real estate information service reported. ”

TonyAlvarez.com

1.Area real estate market is recovering, but not for everyone
“All signs point to the recovery of the region’s real estate market after nearly eight years in the tank.”

2.Real Estate Market Mid-Year Review: Your Home
“The mercury outside is rising, but how is the temperature of the real estate market so far this year?”

3.Goodbye Seller’s Market?
“For-sale and open-house signs have been popping up right and left. If this was April or May, it wouldn’t be all that surprising. But we are now in sweltering mid-July, the dog days of summer and traditionally a dead zone for open houses and new listings.”

4.Economy needs consumers to chip in
“U.S. can’t escape slow rate of growth until wages rise, Americans spend more ”

5.Record number of real estate purchases go to foreign buyers: Canadians target Las Vegas, Detroit Los Angeles, and Florida in General. Chinese targeting Los Angeles, San Francisco, Irvine, Las Vegas, Detroit, and Florida as well.
“Investor buying continues to be a major player in the current housing market. Over the last two weeks I’ve had the chance to drive down neighborhoods were international money is flooding in. It does give off reminders of when Japanese buyers were purchasing tons of California and Hawaiian real estate. When it comes to California, there are certain cities where international money is pouring in.”

6.Housing markets ‘normalize’ although sales drop
“The housing bust which spawned the economic downturn in Southern California is making a steady recovery.”

7.Seattle Region May Home Sales
“The number of homes sold in the Seattle area in May dropped below the year-ago level and fell short of the historical average as activity declined below $500,000 and the share of homes sold to cash and absentee buyers waned. The median price paid for a home rose to the highest level since late summer 2008 but price appreciation continued to throttle back, a real estate information service reported”

TonyAlvarez.com

 

1.More signs of home price slowdown in Southern California
“There are more signs that home prices in Southern California are topping out.”

2.Downside of Low US Mortgage Rates? Less Selling
“Would-be home sellers across the country are grappling with a once-in-a-lifetime problem: They have mortgage rates so absurdly low it would hurt them financially to sell.”

3.Why the Chinese Are Snapping Up Real Estate in the U.S.
“The Chinese shopping spree of American real estate is ramping up, with buyers focused on more expensive homes in dense urban areas in California, New York and Washington state, according to a survey of realtors released this week.”

4.The costs of Obama’s housing mistakes keep piling up
“We all remember the fable of The Boy Who Cried Wolf. The moral of the story: Lie one too many times and nobody will believe you, even when you’re telling the truth. Now we have a case of The Government Who Cried Wolf, showing how the failure of the Obama administration’s foreclosure mitigation programs haunt them to this day”

5.Closing Bell Exchange: Economy slowly improving
“Discussing the health of the economy, with Beth Lilly”

6.12 Negotiating Tips Every Homebuyer Should Know
“The old saying is that in real estate, everything is negotiable. But is it really?”

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.Despite Home Price Slowdown, Wages Can’t Keep Up With Prices
“Asking home prices rose faster than wages in 95 of 100 metros. Still, home prices were flat or falling quarter-over-quarter in the formerly booming markets of Las Vegas, Phoenix, Sacramento, and Orange County.”

2.Applications for New Home Purchases Decreased in June 2014
“The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for June 2014 shows mortgage applications for new home purchases decreased by 5 percent relative to the previous month.  This change does not include any adjustment for typical seasonal patterns.”

3.Average US 30-Year Mortgage Rate Rises to 4.15 Pct
“Average U.S. rates on fixed mortgages edged up slightly this week, remaining near historically low levels.”

4.These Are The Foreigners Buying Up American Real Estate
“Ever wonder why New York real estate prices are so high? Well, sure there is an issue of space, and the fact that New York is a world city with people from Russia and China gobbling up apartments like Pacman enroute to a power pellet. But one of the biggest supporters of real estate pricing these days is the Chinese buyer.”

5.5 Ways Big Data Is Changing Real Estate
“Real estate has traditionally been a game won or lost based on old-fashioned networking and shoe-leather style hard work — deeply dependent on timing, detecting trends and more than a little bit of luck. ”

6.Home sellers out of touch
“Mortgage rates are still attractive, but housing affordability is still out whack, explains CNBC’s Diana Olick. Rents are also rising fast. ”

7.Where the market is headed
“Discussing volatility in the market, and what to do with stocks now, with Alan Reid, Forward CEO, and Ken Taubes, Pioneer Investment Management. ”

8.Mistakes That Decrease The Value Of Your Home
“When you’re getting ready to sell your home, you don’t want to make any mistakes that can decrease the value of your home. However, sometimes sellers unintentionally do.”

9.Don’t Sell Your Home, Rent It!
“You’ve got some equity in your home and the itch to move up to something bigger, so it’s just a matter of time until your house goes on the market, right?”

TonyAlvarez.com

1.Southland homes draw foreign cash
“A record amount of foreign money is flowing into the U.S. housing market. And the Southland is a prime destination.”

2.Chinese drive surge in foreign home-buying in U.S., Southern California
“Real estate sales to foreign buyers and new immigrants surged to new highs in the last year, according to a study released Tuesday by the National Assn. of Realtors, with the Southland being a prime destination.”

3.Mortgage Applications Increase in Latest MBA Weekly Survey
“ASHINGTON, D.C. (July 9, 2014) — Mortgage applications increased 1.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 4, 2014. This week’s results included an adjustment for the July 4th holiday.”

4.Chinese Cash-Bearing Buyers Drive U.S. Foreign Sales Jump
“Henry Nunez, a real estate agent in Arcadia, California, met with so many homebuyers from China that he bought a Mandarin-English translation app for his phone. ”

5.Tiny Houses Big With U.S. Owners Seeking Economic Freedom
“Doug Immel recently completed his custom-built dream home, sparing no expense on details like cherry-wood floors, cathedral ceilings and stained-glass windows — in just 164 square feet of living space including a loft. ”

6.Higher mortgage rates not deterring buyers
“Rates are not the driving factor for home sales. At least that’s what the correlation between rate moves and mortgage applications to purchase a home suggests. ”

7.The SoCal market is not as hot as you think it is: Inventory at 2 year highs for Los Angeles and Pasadena. Inventory for Irvine at 3 year highs.
“As we dig deeper into the summer selling season it is becoming more apparent that this summer is going to be a dud for Southern California. From Compton and Inglewoodto San Marino and Arcadia the insanity has reached another apex. Inventory is growing, price gains are stalling out, and sales volume has certainly fallen.”

8.California leads nation’s jobs growth
“California added more private sector jobs in June than any other state, as employment increased in all four major regions, according to the monthly ADP Regional Employment Report released Wednesday in collaboration with Moody’s Analytics Inc. ”

 

 TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

 

 

1.International Home Buyers Continue to Invest in Profitable U.S. Market
“Favorable exchange rates, affordable home prices and rising affluence abroad continue to drive international buyers to the U.S. to purchase properties and make real estate investments.”

2.5 states with the most (and fewest) foreclosures
“There were 47,000 completed foreclosures nationally in May, down from 52,000 a year ago, which is a drop of 9.4%. But if you look at the month-over-month numbers from just April to May, completed foreclosures were up by 3.8%, according to mortgage-data firm CoreLogic. This is still more than double the amount of foreclosures that typically took place before the housing market crash in 2007: Completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006. ”

3.To win a house bidding war, get creative
“You’ll want to do the basics: Make sure you have your financing in place, turning in all your loan paperwork before placing an offer, said Gibran Nicholas, Chairman of CMPS Institute, an organization that trains and certifies mortgage bankers and brokers. Better yet, if you have the means, you’ll really catch a buyer’s attention if you make an all-cash offer. ”

4.Florida leads nation in international real estate sales
“Florida again topped the nation as the state of choice among international real estate buyers, capturing 23 percent of sales transactions, according to the National Association of Realtors.”

5.Market draws an influx of real estate agents
“Thomas Arbuckle started a landscaping business while studying marketing at USF Sarasota-Manatee, but to supplement his income, he decided to earn a real estate license. After joining Coldwell Banker Residential Real Estate last year, he has been so busy that he sold the landscape business to focus exclusively on selling real estate”

6.Say hello to U.S. economy’s newest bubble
“Call it irrational exuberance, part two. Like old man river, the stock market just keeps rolling along. Last week it was Dow 17,000. Will this week see the market go even higher?”

7.Foreign real estate buying hits record $92 billion
“Overseas buyers scooped up $92.2 billion of U.S. real-estate last year, driven mainly by wealthy Chinese looking for a safe haven for their families and fortunes. ”

8.U.S. economic confidence stuck at the so-so level
“A measurement of American’s economic confidence has remained stuck at the same so-so level for the past three weeks, according to Gallup Inc.”

9.47,000 completed foreclosures in May
“There were about 47,000 completed foreclosures nationally in May, down from approximately 52,000 in May 2013, a year-over-year decrease of 9.4 percent, according to a new report Tuesday from financial information company CoreLogic Inc. (NYSE: CLGX) of Irvine”

10.Three Negotiating Mistakes Sellers Make
“When you list your home for sale, you may think you’ve priced it right, staged it beautifully, and timed the market for a quick sale.”

11.Why the US real estate sector needs a really big boost
“Key economic releases this week could impact your ETF investments”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.Housing market is a ‘crapshoot’
“The housing market is a “crapshoot” now, according to one of America’s leading real estate experts.”

2.All-cash home buyers big players in Capitol Hill real estate market.
“All-cash home buyers have been a force in the Capitol Hill and Central District real estate markets, too, but prices are now so inflated, even these flush buyers have begun to back off.”

3.The Realities of Real Estate: Different types of home loans
“When someone buys a home, they can either pay cash or finance the purchase. Increasingly, people are paying cash.”

4.What’s making US economy a world beater? 5 factors
” How does the U.S. economy do it? Europe is floundering. China faces slower growth. Japan is struggling to sustain tentative gains”

5.Second-half outlook: Housing
“What might heat up the housing market in the second half of the year? ”

6.The real estate gamble in Las Vegas: Year-over-year inventory up 51 percent in Las Vegas. Cash buyers fall by 20 percent from last year.
“If you really want to see the impact of cash buyers pulling out of a market look no further than Las Vegas. Las Vegas was the poster child of real estate mania and many California home owners contributed to the previous boom by tapping out equity and purchasing properties for flips or for the occasional gambling trip down the I-15.”

 

1.Mortgage Rates for 30-Year U.S. Loans Fall for Third Week
“U.S. mortgage rates for 30-year loans fell for a third week, reducing borrowing costs as housing demand regains strength.”

2.Payrolls Jumped as U.S. Jobless Rate Fell to 6.1% in June
“Job creation surged beyond expectations in June and the unemployment rate fell to an almost six-year low of 6.1 percent, underscoring the strength of a U.S. labor market that will help spur a rebound in growth. ”

3.Dollar Rises on Speculation June Jobs Gains to Bolster Outlook
“The dollar rose from almost an eight-week low against a basket of peers as a stronger-than-forecast private jobs report boosted optimism that nonfarm payroll data tomorrow may show the U.S. economy is gaining traction.”

4.US Hiring Surges as Unemployment Dips to 6.1 Pct.
“U.S. employers accelerated their hiring last month, adding a robust 288,000 jobs and helping drive the unemployment rate to 6.1 percent, the lowest since September 2008.”

5.Hiring booms in June as economy speeds up
“The economy created 288,000 jobs last month, posting a fifth straight gain of 200,000 or more, according to the government’s survey of worksites. The last time that happened was in 1999.”

6.Crowdfunding changing real estate financing for operators and investors
“Two years ago, U.S. Congress passed the JOBS (Jumpstart our Businesses) Act, which empowered smaller companies to raise financing more easily.”

7.Jobs blowout: Economy gains 288,000 in June
“The labor market continued to gain momentum and defy a mixed economy in June as employers added 288,000 jobs, the Labor Department said Thursday.”

8.Best markets for buying residential rentals found
“Investors buying U.S. residential rental property in the second quarter of 2014 are getting an average annual return of 9.97 percent, down from an average annual return of 10.60 percent a year ago, according to a study by RealtyTrac Inc. of Irvine.”

TonyAlvarez.com