Category: News Updates

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

 

 

 

 

 

 

 

 

 

 

 

 

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

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

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

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

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

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

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

8.Robert Shiller: Mortgage rates may spur market

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

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

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

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

TonyAlvarez.com

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

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

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

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

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

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

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

TonyAlvarez.com

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

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

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

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

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

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

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

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

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

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

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

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

TonyAlvarez.com