Category: News Updates

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.Mortgage Applications Decrease Slightly in Latest MBA Weekly Survey
“Mortgage applications decreased 0.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending June 27, 2014.  ”

2.Americans on the Road Again as Recovery Gains Traction
“Traci Butler and her husband cut out vacations after the U.S. recession five years ago. This week, the couple is taking their two boys on a weeklong trip that includes a July 4th visit to the nation’s capital, just a few weeks after touring Italy on their own. ”

3.Why your rent is so damn high
“Rents advertised by landlords rose by 0.8% during the second quarter to $1,099, according to data released Wednesday by real estate research firm Reis Inc., while the national vacancy rate was 4.1%, in line with the first quarter and down slightly from 4.3% for the same period a year ago.”

4.Boston one of Nation’s ‘Riskiest’ Markets
“Don’t know where you are going to be in five years? Think twice about buying.That’s a pretty good rule of thumb no matter where you live, but especially here in Greater Boston, now pegged as one of the nation’s “riskiest” housing markets, a new report finds.”

5.Jobs Growth Adds More Sunshine to U.S. Economic Performance
“Nearly seven years after the last recession began, the U.S. economy has been ticking along at a good clip lately. Private employers added 281,000 jobs in June, according to a report on Wednesday from the ADP Research Institute (ADP), a number that exceeds the most optimistic forecast of economists surveyed by Bloomberg.”

6.California’s dwindling middle class: California is gaining more renter households, a drop in homeownership, and housing affordability continues to be a problem.
“The housing wealth effect is in full motion. There are many people in the market that see the rise in home equity and are now out buying bigger ticket items and also, upgrading their homes.”

7.Number of Americans with fulltime jobs increases
“As Americans prepare for the Fourth of July holiday weekend, there is good news on the jobs front: More than four in ten have fulltime jobs.”

8.Five Great Reasons to Buy a Home Right Now
“The nature of market bottoms is that it’s hard to tell one’s occurred until prices and sales volume start to rise again. That’s why the best time to buy is when market conditions suggest a bottom.”

9.The US Economy Has Some Serious Momentum Right Now
“Wednesday’s ADP jobs report didn’t just beat expectation; it crushed them. According to the firm’s estimate, U.S. private companies added a whopping 281,000 jobs in June, which blew away expectations for a 205,000 gain.”

TonyAlvarez.com

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1.New Orleans among riskiest real estate markets in country, Bloomberg reports
“New Orleans is among the most risky real estate markets in the country when looking at the biggest gains and losses homeowners have experienced over the past three decades, Bloomberg reported recently.”

2.Real Estate Markets ‘Recovering from the Recovery’
“A joint research conducted by PricewaterhouseCoopers (PwC) and the Urban Land Institute (ULI) claimed that 2014 will be the year when real estate markets “recover from the recovery,” as buoyed by steadily growing demand for commercial real estate properties.”

3.US stocks close at records; Dow near 17,000
“U.S. stocks jumped on Tuesday as Wall Street started the second half of the year with the Dow rising to within two points of 17,000, as data showed expansion in U.S. manufacturing and better-than-expected sales for major U.S. automakers. ”

4.Global economy seems to be improving: Trader
“Dissecting the current trading environment and how the economy is improving, with Dani Hughes, Divine Capital CEO; “Fast Money” trader Brian Kelly; CNBC’s Bob Pisani; Eunice Yoon and Sharon Epperson. ”

5.Bullish on housing: Pro
“Tim Rood, The Collingwood Group chairman, discusses the state of the housing market. ”

6.U.S. home prices rose by 8.8 percent year over year in May
“Home prices nationwide, including distressed sales, increased 8.8 percent in May compared to a year earlier, the 27th straight month of consecutive year-over-year increases in home prices nationally, according to a new report Tuesday from financial information company CoreLogic Inc. (NYSE: CLGX) of Irvine.”

7.US home prices rose more slowly in May
“U.S. home prices rose in May compared with a year earlier, but the gains have slowed.”

TonyAlvarez.com

1.Bubble Watch: Home Prices Still Undervalued, But Not For Much Longer
“Trulia’s Bubble Watch reveals whether home prices are overvalued or undervalued relative to their fundamental value by comparing prices today with historical prices, incomes, and rents. “

2.Housing Isn’t Overvalued, Except in These 10 Spots
“A deluge of U.S. housing data this week point to a sector that is bouncing back from the winter doldrums, but experts say the real estate market is still far from the bubble-like conditions it reached before the financial crisis hit.”

3.Home prices jump nearly 11% in April
“Home prices jumped nearly 11% in April , and are now up more than 22% from the bottom three years ago.”

4.Existing-Home Sales Heat Up in May, Inventory Levels Continue to Improve
“Existing-home sales rose strongly in May and inventory gains continued to help moderate price growth, according to the National Association of Realtors®. All four regions of the country experienced sales gains compared to a month earlier.”

5.U.S. home prices up less than forecast in April: S&P/Case-Shiller
“U.S. single-family home prices rose less than expected in April, a closely watched survey said on Tuesday.”

6.Rooftop Solar Leases Scaring Buyers When Homeowners Sell
“Dorian Bishopp blames the solar panels on his roof for costing him almost 10 percent off the value of the home he sold in March. “

7.Home Prices in 20 U.S. Cities Rise at a Slower Pace
“Home prices in 20 U.S. cities rose at a slower pace than forecast in the year ended in April as declining affordability put a lid on appreciation. “

8.Sold Signs Fill Builder Lots as U.S. Confidence Rises: Economy
“Buyers swarmed builder lots in May to propel the biggest gain in sales of new homes in 22 years, while consumer confidence this month was the strongest since 2008, showing how an improving U.S. job market is giving the economy a much-needed lift.”

9.US Home Prices Rise at Slowest Pace in 13 Months
“U.S. home prices rose in April from a year ago at the slowest pace in 13 months, reflecting a recent drop-off in sales.”

10.US New Home Sales Rocket Higher in May
“Sales of new U.S. homes rose in May to the highest level in six years, providing the strongest signal yet that housing is recovering from a recent slowdown.”

11.10 markets where home sales are falling
“The number of U.S. existing residential properties sold in May was 5.15 million, unchanged from April and up less than 1% from May 2013, real-estate data firm RealtyTrac announced Tuesday. But new U.S. home sales sold at an annual rate of 504,000 in May, the highest level in six years, the government said in a separate statement. Still, the number of sales fell in 31 of the 50 metro areas, RealtyTrac found.”

12.Sales Pickup Shows Healing U.S. Real Estate Market
“Americans snapped up previously owned homes in May in the biggest monthly sales gain in almost three years, a sign the residential real estate market is regaining its footing after a stumble early in the year. “

TonyAlvarez.com