Submitted by Ralph Aponte on Thu, 05/16/2013 - 6:42am
U.S. homebuilders report increasing optimism over real estate market trends in May, reversing a three-month decline in outlook, according to data released today by the National Association of Homebuilders.
Housing Market Index rose to 44, representing a three-point gain over the revised level of 41 which came in for April of this year. The Housing Market Index tracks changes in three categories – sales expectation, current sales conditions, and buyer traffic – with 50 representing the break-even point.
Submitted by Ralph Aponte on Tue, 05/14/2013 - 4:03am
Sometimes a picture tells the story better than words.
We found this graphic on the price a FSBO property sells for on the average vs the selling price sold through the help of an agent.
Typical sold price of a FSBO - $174,900
Typical sold price by an agent - $215,000
Click for the graphic: http://bit.ly/19koXbn
Submitted by Ralph Aponte on Mon, 05/13/2013 - 10:20am
Loan officers, real estate agents and home buyers can find out how much title insurance will cost for purchases made in New Jersey.
Counsellors Title Agency announces its updated 2013 Title Calculator for New Jersey home purchases and refinances on its website: http://counsellorstitle.com/ratecalc.
Submitted by Ralph Aponte on Fri, 05/10/2013 - 4:32am
RealtyTrac reported foreclosure filings declined 23% in April, coupled with the total foreclosure activity reaching a 74-month low.
The number of foreclosure filings also fell by 5% from March to April, representing that one out of every 905 U.S. housing units faced a foreclosure filing last month.
Submitted by Ralph Aponte on Thu, 05/09/2013 - 9:13am
The breaking news: Fannie Mae reported record first-quarter pre-tax net income of $8.1 billion compared to $7.6 billion from the prior quarter and $2.7 billion in the first quarter of 2012. Technically, Fannie Mae earned a record $58.7 billion for the first quarter of 2013, but this was due to a one-time accounting move allowing it to lower its tax liability which came in part from losses on delinquent mortgages incurred during the housing crisis that Fannie applied to its 2013 taxes.
The historic $8.1 billion is the largest in the firm’s history.
The improvement reflects:
Submitted by Ralph Aponte on Wed, 05/08/2013 - 6:05am
Points to More Evidence of a Recovery
A new report from Lender Processing Services identifies few than 1% of new loans to be classified with the “problem loan” designation.
For the first time since May of 2007, fewer than 1% of new loans are classified as ‘problem’ mortgages, according to a new report from Lender Processing Services.
The actual percentage is .84% marks the first time this number has dipped below the 1% threshold since 2007.
Submitted by Ralph Aponte on Mon, 05/06/2013 - 5:37am
In their new book, Decisive, Chip and Dan Heath unpack the secrets to good decision-making.
They first identify the "4 Villains" behind bad decision-making:
The Narrow Decider: This is the person who self-limits the selection of choices, thereby opting us out of other possibilities.
Submitted by Ralph Aponte on Thu, 05/02/2013 - 5:16am
+ Mortgage applications rose 1.8% for the week ending April 19, on a weekly comparative basis.
+ The refinance index moved higher as well, with stronger momentum: climbing 3% week-over-week, representing 75% of the overall mortgage activity, for the third week in a row.
+ Adjustable-rate mortgages accounted for 4% of total applications, the same as the prior week.
+ Average 30-year, fixed-rate mortgage fell back to 3.60% from 3.65% the prior week, now at its lowest level since December 2012.
+ The 5/1 ARM fell back down to 2.55% from 2.62% from the previous week.
Submitted by Ralph Aponte on Mon, 04/29/2013 - 5:49pm
Market demand for homes is continuing to increase. Much of the data coming in from the HUD, the U.S. Census and NAR is primarily positive and the sentiment around is that
+ Mortgage rates continue to remain at near historic lows
+ There is a renewed buying momentum
+ Distressed homes inventory continues to dry up
+ Shortage of available affordable homes continues to fuel rental market
+ New spark in market confidence
Submitted by Ralph Aponte on Wed, 04/24/2013 - 10:44am
U.S. Census Bureau and the Department of Housing and Urban Development reported that sales of new single-family homes increased 1.5 percent in March to a seasonally adjusted annual rate of 417,000 and 18.5 percent over March 2012.
Other Real Estate Stats
+ The median sale price of new houses sold last month was $247,000
+ The average sales price was $279,900
+ The seasonally adjusted estimate of new houses for sale at the end of last month was 153,000 which is the most since + November 2011
+ This report puts real estate inventory at a 4.4 month supply at the current sales rate