Category: Around the Web

1.Once-hot Southern California housing market further cooled in May
“The Southern California housing market continued to mellow out in May, with price gains slowing down and sales still running low.”

2.Economic worries still dragging down housing market, Fannie Mae says
“Broad concerns about the sluggish economy are still holding back the housing market, according to a survey released Monday by Fannie Mae.

3.Strong Growth in Mortgage Application Volume Following Memorial Day Holiday
“Mortgage applications increased 10.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 6, 2014.  The previous week’s results included an adjustment for the Memorial Day holiday. “

4.Many Seek New Homes Near Cities but Are Priced Out
“The Phoenix lawyer moved downtown a few months ago into a new $389,000 home with a warehouse-style floor plan, a Jacuzzi tub and kitchen counters made of Caesarstone quartz. His favorite coffee spot is three blocks away. When the Arizona Diamondbacks play on Friday nights, he can watch postgame fireworks from his deck.”

5.Americans finally feel better about economy: Survey
“After seven long years of sharp recession and tepid recovery, the CNBC All-America Economic Survey found some key measures of U.S. public opinion finally regained their precrisis levels. “

6.Homes gain value, but fewer selling
“The average Inland Empire home is now selling for $100,000 more than when the housing bust bottomed out. “

7.Tepid Housing: Blame the Weak Labor Market
“Despite the fact that the unemployment rate was unchanged at 6.3 percent in May, with 9.8 million Americans unemployed, the lowest it has been since September 2008, a  record high 92 million Americans remain out of the labor force, according to  the Bureau of Labor Statistics. U.S. businesses added 217,000 jobs in May, adding at least 210,000 jobs since February.”

8.New U.S. Migration Trends: Texas, the Housing ‘Garden of Eden’
“In the 1930s, during the Dust Bowl, when farmers in the Midwest migrated west from Oklahoma, Kansas and Nebraska to California because of severe dust storms, folk singer Woody Guthrie paid tribute to this epic westward migration in a song called “Do Re Mi.”  Strumming his guitar, Guthrie sings: “California is a Garden of Eden; a paradise to live in or see. But believe it or not, you won’t find it so hot, if you ain’t got the Do Re Mi.” So many Oklahoma families abandoned their farms that Californians called them “Okies.””

9.When It Comes To Real Estate, Nice Guys Finish Last
“When it comes to real estate, nice guys finish last. Especially in tough markets. And by tough markets, we mean seller’s markets, buyer’s markets, depressed markets, rebounding markets – and any other type of market we missed.”

10.Southland Home Sales Slow; Median Price Rises Again but at Slower Pace
“Southern California home sales lost momentum in May, falling from both April and a year earlier as investor demand fell and buyers continued to face inventory, affordability and credit constraints. Prices climbed again but at roughly half the year-ago pace, a real estate information service reported. “

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

 

 

1.REALTORS® Applaud House Passage of Mortgage Choice Act
“The Mortgage Choice Act that passed the U.S. House of Representatives last night importantly redefines a provision in the Ability-to-Repay rules that limits mortgage fees and points to three percent in order for home loans to be considered Qualified Mortgages.  “

2.Home sale totals continue to dip, but Realtors aren’t concerned
“Once again, Louisville-area home sales in May trailed last year’s pace, according to figures released by the Greater Louisville Association of Realtors.”

3.Demand pushed Bay State pending home sales to record levels in May
“Pending single-family sales in the Bay State posted its biggest May since the Massachusetts Association of Realtors began tracking the data a decade ago.”

4.Are you struggling to be profitable as a real estate agent? Maybe you should hire a coach
“Have you hit a plateau you can’t seem to break? Are you struggling with how to be more profitable in your business? Are you facing burnout and thinking about leaving the business? If so, now may be the right time to hire a coach.”

5.US foreclosure activity falls to 8-year low in May: RealtyTrac
“Foreclosure activity across the United States dropped toan eight-year low in May as banks reclaimed fewer homes and foreclosure startssaw their lowest levels in years, RealtyTrac said in a report on Tuesday”

6.Agents: 3 Must-Have Components for Long Term Success
“Just like top agents who never take success for granted, and constantly look for new ways to improve and innovate, we know that to stay current in a constantly evolving market and economy, it takes a commitment, forward-thinking and creative connection. One of our favorite mantras is Tony Robbin’s “CANI: Constant And Never-Ending Improvement.” That’s why we aren’t slowing down one bit in terms of adding fresh content, up-to-the-minute marketing tools and the kinds of strategies and solutions it takes to help our customers and agents all across the real estate industry have what they need to thrive in ANY market. “

7.U.S. small business, jobs data bolster growth picture
“WASHINGTON (Reuters) – The U.S. economy has decisively turned the corner with small business confidence hitting its highest level in more than 6-1/2 years in May and the number of jobs available rising to pre-recession levels in April.”

TonyAlvarez.com

 

 

 

 

 

 

 

 

1.Economic worries still dragging down housing market, Fannie Mae says
“Broad concerns about the sluggish economy are still holding back the housing market, according to a survey released Monday by Fannie Mae.”

2.Commercial/Multifamily Mortgage Debt Outstanding Rises to Another High in First Quarter
“The level of commercial/multifamily mortgage debt outstanding increased by $11.1 billion in the first quarter of 2014, as three of the four major investor groups increased their holdings.  That is a 0.4 percent increase over the fourth quarter of 2013.”

3.How to beat out all-cash home buyers
“The rise of all-cash deals in places like Miami has made it difficult for high-end home buyers planning to use a mortgage. In response, many of these borrowers are turning to lenders able to close loans quickly or offer a range of financing options. “

4.Portland Housing Bureau gives first-time and elderly home buyers 4M rays of hope
“Portland’s Housing Bureau is making money available to an array of home buyers and owners who might need assistance either obtain or remain in their domain.”

5.Real Estate In Your IRA – How Not To Do It
“Using IRA funds to invest in real estate can be very good idea.  Well, at least I know one person for whom it worked out.  It did not, however, work out very well for Guy Dabney, who recently represented himself in Tax Court. “

6.May Chicago Real Estate Market Update: Home Sales Plunge
“The Chicago real estate market took a pretty big hit in May, with sales declining by the largest year over year percentage since June 2011 – down 13.5%. That marks the 5th month in a row that sales declined from the previous year”

7.Best place for your $100,000
“Despite markets hitting an all-time high, investors are keeping cash on the sidelines. CNBC’s Morgan Brennan calculates where investors with $100,000 should invest their cash. “

8.Say hello to rising housing inventory in Southern California: Year-over-year inventory is up 26 percent in Los Angeles and 30 percent in Ventura.
“Have you heard the good news? Today is a great time to buy in SoCal! So says the multiple flyers, e-mails, and recent phone messages I have been receiving from local real estate workers.”

9.Spring-Summer Buying and Selling Season Sputters Despite Drop in Mortgage Rates
“Americans’ concerns about the direction of the economy and their household income appear to be weighing on housing growth, according to results from Fannie Mae’s May 2014 National Housing Survey. The share of respondents who believe the economy is headed in the wrong direction remained at 57 percent last month, and those who said their household income is significantly higher than it was at the same time last year decreased four percentage points to 21 percent. Although respondents’ attitudes toward housing have been generally positive during the past few months, their reluctance to enter the home buying or selling market has restrained activity below typical seasonal trends.”

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

 

 

 

1.Landlords expect rents will keep going up in Southern California
“Nearly 78% of Southern California apartment building owners say they plan to hike rents in the next 12 months, according to a new survey from real estate brokerage firm Marcus & Millichap. About 22% plan to increase rents by at least 3%.”

2.U.S. Stocks Rise as Payrolls Climb to Pre-Recession Peak
“U.S. stocks rose, extending records for equity benchmarks, as data showed payrolls pushed past their pre-recession peak for the first time in May. “

3.10% of Southern California homes underwater
“One in 10 Southern California homeowners owed more than their homes were worth during the first three months of the year, down from one in three at the peak of the housing crisis 4 1/2 years ago, CoreLogic reported Thursday.”

4.Job growth hits housing
“CNBC’s Diana Olick reports job growth is the number one driver for the housing recovery, and the industry is not seeing enough job growth to boost sales. “

5.What housing didn’t get in this jobs report
“The one constituency housing needs most is the one struggling the hardest in the jobs market. Employment among those age 25-34 fell in May to 75.3 percent; this compares to pre-recession rates of 78 to 80 percent employment, according to the Bureau of Labor Statistics. “

6.Say hello to rising housing inventory in Southern California: Year-over-year inventory is up 26 percent in Los Angeles and 30 percent in Ventura.
“Have you heard the good news? Today is a great time to buy in SoCal! So says the multiple flyers, e-mails, and recent phone messages I have been receiving from local real estate workers. What I find interesting is that in 2013, many were too busy to even pick up their phone let alone put out flyers as if they were searching for a lost and lonely pug.”

7.U.S. standard of living index climbs to six-year high
“Americans are feeling a lot more positive about their standard of living, according to the newest Gallup U.S. Standard of Living Index, released Friday.”

8.Jobs increase but unemployment rate remains the same
“Total nonfarm payroll employment rose by 217,000 in May, and the unemployment rate was unchanged at 6.3 percent, the U.S. Bureau of Labor Statistics says Friday.”

9.Home Sellers: How To Stay A Step Ahead Of Buyers
“If you’re aiming to sell your home to what I call today’s “next generation” buyer, you need to get into the mind of that potential buyer.”

10.US employment finally back to pre-bust levels, latest report ‘no game changer’ for housing
“As economists had expected, the latest employment numbers from the Bureau of Labor Statistics show that with the U.S. adding 217,000 jobs in May, the number of people in the workforce has finally surpassed pre-bust levels, to a new all-time high.”

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.Home Price Gains Finally More Balanced, Sustainable, and Widespread
“For the first time since July 2012, no local market saw home prices rise more than 20% year-over-year. Yet the number of markets with year-over-year price declines is also at a post-recession low.”

2.America’s homes are bigger than ever
“The average size of homes built last year hit 2,600 square feet, an all-time high that surpassed even the housing bubble years, when homes averaged around 2,400 square feet, according to the Census Bureau. “

3.This indicator points to falling home prices
“While the headlines suggest that home prices continue to rise but at a slower rate, the reality may be different, at least according to one measure”

4.US household net worth creeps to record high
“U.S. household net worth nudged up 2 percent to a new high in the first quarter, hitting a record $81.8 trillion as the stock market continued its upward climb and property values rose.”

5.312,000 homes regained positive equity in Q1
“More than 300,000 homes returned to positive equity in the first quarter of 2014, bringing the total number of mortgaged residential properties with equity to more than 43 million, according to a report Thursday from financial information company CoreLogic Inc. (NYSE: CLGX) of Irvine.”

6.All-cash sales keep dominating housing market
“Cash is king, especially for those buying homes in Florida: A stunning 64 percent of all home sales in early 2014 in Florida were cash-only purchases”

7.Price gains push 3.5 million homes above water
“Rising home prices propelled 3.5 million U.S. properties out of negative equity in one year, but the number of underwater mortgages will shrink at a slower pace in the future as price appreciation cools, according to data released today by CoreLogic and Trulia.”

8.Hook a Higher Price For Your Home
“When you receive an offer from a homebuyer, chances are it will be less than you expected. The housing turmoil of the last eight years has taught buyers to go in low, except in the most heated markets.”

TonyAlvarez.com

1.Owning a home no longer the American Dream
“The great American Dream is dying. Even though many Americans still desire to own a home, they are losing faith in homeownership as a key to prosperity.”

2.Mortgage Applications Decrease in Latest MBA Weekly Survey
” Mortgage applications decreased 3.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 30, 2014.  This week’s results include an adjustment for the Memorial Day holiday. “

3.10 things home inspectors won’t tell you
“As the housing market recovers, more buyers and sellers are getting reintroduced to one of the most nerve-racking rituals in real estate: the home inspection. “

4.Five questions with suburban real estate broker Garry Holmes
“Garry Holmes, president of R.W. Holmes Realty, a Wayland-based commercial real estate brokerage, has been working the suburban office market since the 1980s. He’s completed lease and sale transactions totaling more than 10 million square feet of office and R&D space. But the last few years have been a challenge as the region’s availability rate has topped 20 percent, a far cry from the dot.com days when single-digit vacancies were the norm. “

5.REAL ESTATE: Inland counties called fast house flippers
“Inland Southern California made a name for itself when it came to fast flips when the housing market was poker hot.”

6.Economy on solid ground despite cooler hiring
“U.S. companies hired far fewer workers than expected in May, but an acceleration in services sector growth supported views the economy was regaining strength after sagging early this year.”

7.5 Reasons the Economy is Not Headed for Recession
“The economy may have slipped out of gear, but it’s not in reverse.”

8.Midday Glance: Homebuilders companies
“NEW YORK (AP) — Shares of some top homebuilders companies are up at 1 p.m”

9.Real-estate & technology
“A number of office building landlords are turning to technology to lure small tech startups. “

10.Blackstone’s home buying strategy
“CNBC’s David Faber speaks to Jonathan Gray, The Blackstone Group global head of real estate, about Blackstone’s real estate approach and the rise of home prices. Gray says the shortage in new supply of single family homes is driving home costs higher.”

11.A history of a turning housing market in Southern California: Does the contraction in sales necessarily mean a fall in home prices?
“Housing markets have a very slow inflection point compared to say the stock market. When the stock market corrects, the reaction is nearly instantaneously and the visual cues are so apparent by thousands of flashing red signs.”

TonyAlvarez.com

1.Commercial/Multifamily Delinquencies Continue Decline in First Quarter
” Delinquency rates for commercial and multifamily mortgage loans continued to decline in the first quarter of 2014, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report. “

2.US Home Price Gains Slow in April Amid Tepid Sales
“U.S. home prices rose in April compared with a year earlier, but the increase was the smallest annual gain in 14 months. Price gains have slowed this year as sales have faltered.”

3.Half of Americans can’t afford their house
“As the housing market slowly recovers, a majority of homeowners and renters are finding it hard to meet rising rents and mortgage payments, new research finds. “

4.Silicon Valley rents soar as tech gobbles space
“There’s a lot of talk about the red hot residential real estate market in Silicon Valley, but commercial prices are also soaring.”

5.Real estate explodes in Silicon Valley
“It’s not just homes that are expensive in Silicon Valley. CNBC Josh Lipton reports the tech boom has pushed commercial real estate higher than ever. “

6.RealtyTrac: State, national home sale prices continue to climb
“The median sales price of California residential properties – including sales of distressed properties – was $350,000 in April, up 2 percent over March and a 17 percent spike over April 2013, according to Irvine-based RealtyTrac.”

7.Economic confidence ticks up
“Gallup’s U.S. Economic Confidence Index increased to a -14 in May, its highest monthly reading in 2014 so far, the polling firm says Tuesday. “

8.Home prices rise by 10.5 percent year over year in April
“Home prices nationwide, including distressed sales, increased 10.5 percent in April compared to April 2013, according to a new report Tuesday from financial information company CoreLogic Inc. (NYSE: CLGX) of Irvine.”

9.San Fernando Valley home sales fall from year ago
“Homes sales in the San Fernando Valley fell 11 percent from a year ago in April but increased from March, a research center said Friday.”

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.Stocks reverse course as Nasdaq retreats
“After starting June with more record highs, stocks are down. Investors continue to weigh the mixed signals about how strong companies and consumers are heading into the summer.”

2.US Construction Spending up 0.2 Percent in April
“U.S. construction spending posted modest gains in April, driven by an uptick in home building and government construction that lifted total activity to the highest level in five years.”

3.Stocks Slip After US Manufacturing Slows
“Stocks were moving lower in morning trading Monday following the release of a closely watched report that showed an unexpected slowdown in U.S. manufacturing last month. The market is coming off record highs last week.”

4.10 things home inspectors won’t tell you
“As the housing market recovers, more buyers and sellers are getting reintroduced to one of the most nerve-racking rituals in real estate: the home inspection. “

5.U.S. factory activity slows, construction spending up
“U.S. manufacturing activity slowed last month and construction spending rose less than expected in April, which could temper hopes of a sharp pick-up in economic growth this quarter.”

6.RealtyTrac: State, national home sale prices continue to climb
“The median sales price of California residential properties – including sales of distressed properties – was $350,000 in April, up 2 percent over March and a 17 percent spike over April 2013, according to Irvine-based RealtyTrac.”

7.Phantom household formation and the inability of the young to purchase real estate: Will we see a resurgence of young homeowners buying homes?
“In most open markets a steady stream of demand will usually trigger a counter response with supply.”

8.Consumer spending hits six-year high
“The polling company says Americans’ reports of daily spending spiked in May, averaging a six-year high of $98 — $10 higher than the April average. This is also up from May 2013 ($90), and is the best figure for the month of May since 2008.”

9.San Fernando Valley home sales fall from year ago
“Homes sales in the San Fernando Valley fell 11 percent from a year ago in April but increased from March, a research center said Friday.”

10.How to Negotiate With Sellers
“If you dread the negotiating process when buying a home, never fear. Your real estate agent is an experienced negotiator who helps keep the bargaining from becoming emotional and veering off track.”

11.Lower rates fail to boost mortgage activity
“Mortgage applications fell a seasonally adjusted 1.2 percent on week last week despite lower rates and expectations of stronger home sales in May, according to the Mortgage Bankers Association (MBA). Total mortgage applications for refinances and home purchases are down 48 percent on year.”

TonyAlvarez.com

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