Category: News Updates

1.Pending Home Sales Slip in June
“WASHINGTON (July 28, 2014) – After three consecutive months of solid gains, pending home sales slowed modestly in June, according to the National Association of Realtors”

2.U.S. housing data weaker than expected, but services sector expands
“Contracts to buy previously-owned U.S. homes unexpectedly fell in June, but the data did little to change perceptions the housing sector was gradually recovering after slumping in late 2013.”

3.Pending Sales of U.S. Existing Homes Unexpectedly Decrease
“Fewer Americans than forecast signed contracts to buy previously owned homes in June, a sign residential real estate is struggling to strengthen. ”

4.Contracts to Buy US Homes Slip in June
“Fewer Americans signed contracts to buy homes in June, as the real estate market appears to have cooled off this summer.”

5.US Stocks Fall at Midday on Cooling Home Sales
“U.S. stocks are slightly lower in midday trading after a report of sluggish sales in the housing market.”

6.US pending home sales unexpectedly fall in June
“Contracts to buy previously owned U.S. homes unexpectedly fell in June, but the data did little to change perceptions the housing sector was gradually recovering after slumping in late 2013.”

7.What happens when investors pullback form the housing market? Cash sales volume down 21 percent in California year-over-year. Sales volume remains incredibly low as inventory builds up.
“Big investors have been a critical component to the housing market going back to 2008. Over the last few years, we have seen the smalltime ragtag mom and pop investor creep back into the market trying to make money on flips. Of course as the deals run thin and appreciation slows down as it has, it becomes more difficult to turn a profit.”

8.What To Expect From Housing In The Second Half Of 2014
“If the housing market was in overdrive for much of 2013, during the first half of 2014 it hit the metaphorical brakes. Winter storms across the nation contributed to sluggish sales during the first quarter, while rising mortgage rates and tight inventory didn’t help.”

9.California Foreclosure Starts Lowest Since 2005
“The number of California homes entering the formal foreclosure process last quarter dropped to the lowest level since late 2005, the result of a stronger economy and higher home values, a real estate information service reported. ”

TonyAlvarez.com

1.Best Purchase Markets for Millennial Homebuyers
“First-time homebuyers have been largely absent from the housing market in the current economic recovery, but some metropolitan areas – particularly in the Midwest and West – are well positioned to see increases in home-buying from the Millennial generation in upcoming years, according to new research by the National Association of Realtors®.”

2.Dollar Rises to Highest in Month as U.S. Outperforms
“A gauge of the dollar rose to the highest level in a more than month amid signs the U.S. economy, beset by years of sluggish growth, is outperforming its major peers. ”

3.Vegas real estate: Sin City emerging from distress
“The Las Vegas housing market is in transition, from a situation where investors were swooping up distressed properties to a market of more traditional, owner-occupant sales. ”

4.How High Debt From The Housing Collapse Still Stifles Our Economy
“Foreclosure, foreclosure, foreclosure. Real estate broker John Susani drives down a Paterson, N.J., street where every third house seems to be abandoned or boarded up. During the boom years, money flooded into Paterson.”

5.How big cities that restrict new housing harm the economy
“For the last couple of years, San Francisco has been erupting with periodic protests aimed, rather imprecisely, at a nexus of grievances related to gentrification, affordable housing, transportation, the tech industry, newcomers to the city, its changing skyline and Silicon Valley to the south. The city is screaming, although at what its protestors seem a little confused.”

6.Home sales slump
“Home builders got hammered last month. What’s ailing the housing market? ”

TonyAlvarez.com

1.Average US 30-Year Mortgage Rate at 4.13 Pct.
“Average U.S. long-term mortgage rates were stable to slightly higher this week, remaining near their lows for the year.”

2.US New-Home Sales Plummet in June
“Sales of new U.S. homes plunged in June, a sign that real estate continues to be a weak spot in the economy.”

3.US Home Sales Increase 2.6 Percent in June
“Sales of previously owned homes rose for a third straight month in June, pushing activity to the highest level in eight months and providing evidence that housing is regaining lost momentum.”

4.Across US Job Market, Layoffs Are Becoming Rare
“The risk of losing your job is getting smaller and smaller.”

5.The risk of losing your job is getting smaller and smaller.
“The U.S. real estate market is finally starting to fire on most, if not all, cylinders, with investors’ enthusiasm gathering steam seemingly each passing month.”

6.Global economy still limping along
“The world economy is stuck in low gear even as the risks to growth mount, the International Monetary Fund said Thursday. ”

7.U.S. new home sales post biggest drop in almost a year
“Sales of new U.S. single-family homes fell sharply in June and the prior month’s data suffered the biggest downward revision ever, casting a cloud on the housing market recovery and helping to send homebuilder stocks lower.”

TonyAlvarez.com

1.Cutting Housing Costs When Financial Hardship Strikes
“If forced to spend less on housing, people would rather change where they live than whom they live with. Downsizing is the #1 way people would reduce their housing costs. Furthermore, renters are significantly more willing to move or get a roommate than homeowners are.”

2.Existing-Home Sales Up in June, Unsold Inventory Shows Continued Progress
“WASHINGTON (July 22, 2014) – Existing-home sales increased in June and reached an annual pace of 5 million sales for the first time since October 2013, while rising inventory continues to push overall supply towards a more balanced market, according to the National Association of Realtors®.”

3.Good time to buy? Home sales, inventory rise in June
“The nation’s housing market showed more signs of health in June, with home prices and sales on the rise.”

4.Mortgage Applications Increase in Latest MBA Weekly Survey
“WASHINGTON, D.C. (July 23, 2014) — Mortgage applications increased 2.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 18, 2014. ”

5.US Economy, Though Sluggish, May Now Be Sturdier
“Out of a seemingly hollow recovery from the Great Recession, a more durable if still slow-growing U.S. economy has emerged.”

6.5 tips for selling your home for the best price
“The rebound in U.S. home values over the past couple of years has placed many homeowners in a better position to sell their home for a profit.”

7.Homes sales improve but stress remains
” Sales of existing homes improved for the third consecutive month in June, the National Association of Realtors reported Tuesday in one of several new data points that suggest a steadily better economy”

8.The drought of young California home buyers: Unaffordable housing reigns supreme as first time home buyers squeezed out of market. Of 7,000,000 completed foreclosures since 2005, 1 million occurred in California.
“It is safe to say that the momentum of 2013 has fizzled out in the housing market. Sales are down and prices are reaching a plateau. Part of this has come from the slowdown of investors purchasing homes in the state.”

9.Economic Growth Expected to Strengthen During Second Half of 2014, But Not Enough to Save the Year
“WASHINGTON, DC – Economic growth during the second half of 2014 likely won’t be strong enough to offset the weak activity from the first two quarters of the year, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research (ESR) Group. The economy experienced the worst performance in five years during the first quarter of 2014, due in large part to a significant downward revision in healthcare spending, and incoming data suggest only a moderate pickup in growth for the second quarter – likely resulting in an essentially flat first half of the year. In the third and fourth quarters, economic activity is expected to accelerate, driven largely by consumer spending and, to a lesser degree, business capital investment and residential investment. ”

10.Fact or Fiction: A Tax On Real Estate Sales
“On January 1, 2013, the Net Investment tax went into effect. Despite numerous articles and columns reminding consumers that this tax does not apply to every real estate sale, rumors continue to keep flying all over the country, claiming that the Health Reform legislation Congress enacted includes a sales tax on all real estate sales. While there is a tax, it does not apply to everyone. ”

11.Ahead of the Bell: US home sales
“The National Association of Realtors reports on existing home sales in June. The report is scheduled to be released at 10 a.m. EDT Tuesday.”

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

 

 

 

1.Existing-Home Sales Up in June, Unsold Inventory Shows Continued Progress
“WASHINGTON (July 22, 2014) – Existing-home sales increased in June and reached an annual pace of 5 million sales for the first time since October 2013, while rising inventory continues to push overall supply towards a more balanced market, according to the National Association of Realtors®.”

2.Increased sales fueling hiring and pay raises, business economists say
“More companies reported increased sales in the second quarter of the year, fueling a jump in hiring and pay raises, according to a survey of business economists released Monday.”

3.Previously Owned U.S. Home Sales Rise to Eight-Month High
“Sales (ETSLTOTL) of previously owned U.S. homes climbed in June to an eight-month high as more listings helped prices cool, luring buyers into the market. ”

4.Dollar Advances to 8-Month High Versus Euro on Fed, ECB
“The dollar rose to the highest in eight months versus the euro as funding measures and monetary policies between the two economies diverge. ”

5.US Home Sales Increase 2.6 Percent in June
“Sales of previously owned homes rose for a third straight month in June, pushing activity to the highest level in eight months and providing evidence that housing is regaining lost momentum.”

6.More People Flipping Houses for Profits
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7.Foreclosure rates decreased in May
“Foreclosure rates in the Portland-Vancouver-Hillsboro area decreased in May compared to the same period last year, according to Irvine, California-based CoreLogic, a real estate data firm.”

8.Real Estate bidding wars: How to come out on top
“With American buyer’s confidence high in the real estate market, many are hoping to take advantage of still-low mortgage rates, while sellers are hoping to take advantage of inventory sitting at its lowest point in four years. Conditions like these setup property bidding wars which are becoming more common during this year’s busy selling season. So, how can you come out the winner when it comes to landing your dream home?”

9.Un-advertised listings distort housing inventory
“The number of homes listed for sale nationally is finally beginning to rise, but ask anyone looking to buy a home and the majority will complain there is nothing out there. Neighborhood to neighborhood, market to market, supply still seems tight, despite a 6.5 percent increase in listings from a year ago, according to the National Association of Realtors. ”

10.Pace of U.S. home resales rises to eight-month high
“WASHINGTON, July 22 (Reuters) – U.S. home resales rose in June to their fastest pace in eight months, a signal that the housing market was pulling out of a slump.”

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.Buyers should look for signs that a home hasn’t been well-maintained
“To hear professional home inspectors tell it, Americans take better care of their automobiles than their homes. Consequently, every home buyer should plan to spend the $400 to $600 necessary to have the house they like best thoroughly examined by an independent third party.”

2.US Companies Report Rising Sales, Employment in 2Q
“Rising sales helped boost hiring and wages at U.S. businesses in the second quarter, and companies are optimistic that the trends will continue this fall, according to a new survey by the National Association for Business Economics.”

3.2014 real estate market shows continued improvement
“Trends in Montgomery County real estate indicate an uptick in volume and a slump in days on the market. Both of these numbers support a seller’s market where buyers are scrambling to find a home while interest rates are still low. Buyers also are concerned that rising prices may prevent them from buying if they don’t move quickly.”

4.Young Americans prefer cash savings to stocks, real estate when investing, report says
“The youngest American generation prefers to stow away cash in savings accounts rather than invest it in the stock market or real estate, a factor that could hurt their chances for a comfortable retirement, according to a Bankrate.com survey released on Monday (July 21).”

5.U.S. Economy Is Lumbering, Not Soaring
“The destruction of Malaysia Airlines 3786.KU 0.00% Flight 17 and the fighting in Gaza are the sort of geopolitical unknowns that send markets off-kilter, albeit in this case not very far off-kilter. The overriding market thesis is that the economy is getting better, the jobs market is getting better, corporate earnings are getting better, the proverbial morning in America is just around the corner, and even with stocks around record levels, even with chaos overseas, now is still the time to buy.”

6.Next two weeks’ earnings may test economy
“A long hoped for improvement in the economy appears to be manifesting itself in second-quarter U.S. earnings, but the next two weeks could be the real test”

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

1.Gauge of US Economy Rises 0.3 Percent in June
“A gauge designed to predict the economy’s future health increased in June for a fifth consecutive month, supporting the view that economic growth should accelerate in the second half of this year.”

2.3 Mistakes New Real Estate Investors Make
“Investing in real estate can seem like a safe bet. After all, you can touch and feel the physical asset, but that creates a false sense of security, experts warn”

3.Surprise: The Economy isn’t As Bad As You Think
“Nearly seven years after the onset of the Great Recession, the national mood remains troubled. Surveys find entrenched pessimism over the country’s economic outlook and overall trajectory. In the latest NBC News/Wall Street Journal poll, 63% of respondents said the U.S. is on the wrong track. It’s not difficult to see why. ”

4.Phoenix’s rough housing recovery
“Phoenix’s real estate market rose from the ashes after the economic downturn, but now it may be stumbling again. ”

5.Foreclosures continue to plunge in California
“Foreclosures have fallen to their lowest levels in California and Sacramento County since late 2005, market researcher DataQuick said Thursday.”

6.Tiny homes with big price tags in Pasadena: Inventory grows in Southern California and cash investors continue to pullback from the market.
“When you are deep in the euphoria of a mania it is funny what you will come up with to justify shoddy construction, aged properties, and ultimately a profound delusion of value.”

7.California’s unemployment rate decreases to 7.4 percent
“California’s unemployment rate decreased to 7.4 percent in June, and nonfarm payroll jobs increased by 24,200 during the month for a total gain of 1,351,800 jobs since the recovery began in February 2010, according to data released Friday by the California Employment Development Department from two separate surveys.”

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

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