Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Along with Freddie Mac, Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors are all calling for mortgage rates to continue to rise over the next four quarters.
This has caused some purchasers to lament the fact they may no longer be able to get a rate less than 4%. However, we must realize that current rates are still at historic lows.
LINK HERE
Thursday, November 19, 2015
6 Reasons Why a Housing Crash Isn’t Likely
The U.S. is nearing the 10-year anniversary of the 2006-2007 housing bubble. Should Americans be worried that history could repeat itself? After all, home prices have risen above the bubble era.
Housing experts say there are many reasons why Americans shouldn’t be concerned about a housing crisis repeat anytime soon, including:
LINK HERE
Housing experts say there are many reasons why Americans shouldn’t be concerned about a housing crisis repeat anytime soon, including:
LINK HERE
October home prices drop slightly, east and south up
San Diego County home prices dipped in October from the previous month, but buyers priced out of central San Diego pushed up values in eastern and southern regions of the county, said real estate data firm Corelogic.
LINK HERE
LINK HERE
Wednesday, November 18, 2015
More Sales But Conditions Stay Tough for First-Time Buyers
Home sales are expected to increase to 5.5 million units from 5.3 million next year as job creation and other economic fundamentals remain strong, but longer-term prospects for home ownership face head winds if younger households continue to find it difficult to buy.
LINK HERE
LINK HERE
Housing Has ‘Best Quarter in Nearly a Decade’
Home prices are showing signs of slowing to a healthier pace, according to the National Association of REALTORS®’ latest quarterly housing report.
In fact, Lawrence Yun, NAR’s chief economist, says there’s no question the housing market in the third quarter had its best quarter in nearly a decade.
LINK HERE
In fact, Lawrence Yun, NAR’s chief economist, says there’s no question the housing market in the third quarter had its best quarter in nearly a decade.
LINK HERE
Mortgage Rates are Inching Up
The 30-year fixed-rate mortgage is getting closer to moving over 4 percent, as mortgage rates climb for the second week in a row. Freddie Mac reports that fixed-rate mortgages are rising in anticipation of a possible rate increase by the Federal Reserve and a recent strong jobs report.
LINK HERE
LINK HERE
360° Cameras: Listing Photo Game Changer?
Savvy pros and clueless Craigslist FSBOs alike know that photos help sell real estate: Good listings are packed with photos of every room from every angle, and skeptical buyers may wonder what a seller's hiding if anything's missing from the photo stream. But a new technology that captures panoramic photos of entire rooms with a single press of the shutter promises to give online buyers all the visuals they need with a lot less clutter.
LINK HERE
LINK HERE
Monthly Foreclosure Jump Highest in 4 Years
Foreclosure activity in October posted its largest month-over-month increase since August 2011, according to RealtyTrac’s latest Foreclosure Market Report. Foreclosure filings – including default notices, scheduled auctions, and bank repossessions, rose 6 percent in October month-over-month, led by a 12 percent monthly jump in foreclosure starts.
LINK HERE
LINK HERE
The Best Times to Post on Social Media
Whether teasing up your recent blog post or reaching out to prospects or past clients, your social media outreach should be pegged to the time others are most likely to see it. TruConversion, a company behind a soon-to-debut app to help businesses optimize and track their social media results, recently shared with Forbes some insights into its research on social media posting.
LINK HERE
LINK HERE
Loan Demand Softens on Sharp Jump in Rates
Mortgage rates climbed higher last week, which caused mortgage application volume to drop slightly by 1.3 percent on a seasonally adjusted basis last week compared to the previous week, the Mortgage Bankers Association reports.
The 30-year fixed-rate mortgage rose to 4.12 percent – its highest level since August, the MBA says.
LINK HERE
LINK HERE
Solo Sales: FSBOs’ Costly Mistake
Forty-eight percent of home owners who sell their home without a real estate agent believe that if they sell themselves they’ll have to just do a little extra work and then be able to save on having to pay a commission or closing fee. But research shows that for-sale-by-owners actually end up having to spend a lot more time than they ever imagined and tend to end up with a final selling price that is lower than comparable listings that were sold by an agent, according to research by the National Association of REALTORS®.
LINK HERE
LINK HERE
Why Buyers Need to Buy That New Home Now
Your client has decided on new-home construction, but they're dragging their feet. Need to give them extra motivation to get that contract signed this fall or winter?
“Fall and winter are a great time to start working with a builder and do much of the upfront planning and legwork that goes into a new-construction home,” says Brian Brunhofer, president of Meritus Homes. “Plus, there are some definite advantages to beginning that process before the end of the year that buyers might not be aware of.”
LINK HERE
“Fall and winter are a great time to start working with a builder and do much of the upfront planning and legwork that goes into a new-construction home,” says Brian Brunhofer, president of Meritus Homes. “Plus, there are some definite advantages to beginning that process before the end of the year that buyers might not be aware of.”
LINK HERE
Housing market to grow slowly in 2016, economist says
One of the nation’s top real estate economists said Friday that U.S. home sales will barely rise next year.
Lawrence Yun, chief economist for the National Association of Realtors, predicted at the organization’s annual conference that 5.4 million homes will be sold in 2016, up slightly from 5.3 million this year.
LINK HERE
Lawrence Yun, chief economist for the National Association of Realtors, predicted at the organization’s annual conference that 5.4 million homes will be sold in 2016, up slightly from 5.3 million this year.
LINK HERE
Monday, November 9, 2015
Year end can yield new home bargain
Over the years, I’ve helped more than 1,000 homebuyers successfully buy a new home here is San Diego.
My experiences gave me several insights into what smart home shoppers do. I’ve seen boom and bust cycles in our market and watched savvy buyers turn the new home process to their favor. As an insider, here’s a little secret about buying a new-construction home: Buy a new home before the end of the year.
LINK HERE
My experiences gave me several insights into what smart home shoppers do. I’ve seen boom and bust cycles in our market and watched savvy buyers turn the new home process to their favor. As an insider, here’s a little secret about buying a new-construction home: Buy a new home before the end of the year.
LINK HERE
San Diego home prices jumped again
San Diego home prices were up 0.3 percent in August from July, mirroring the national average, the S&P/Case-Shiller Home Price Indices released Tuesday showed.
Year over year, San Diego home prices were up 6 percent — outpacing New York City, Phoenix, Chicago and the national average.
LINK HERE
Year over year, San Diego home prices were up 6 percent — outpacing New York City, Phoenix, Chicago and the national average.
LINK HERE
More Home Buyers Bypass Banks for Loans
Home buyers increasingly are turning to independent mortgage companies for their loans, not traditional banks.
According to data from the Federal Reserve, in 2014, nondepository independent mortgage companies originated 47 percent of completed home-purchase loans and 42 percent of refinance loans – up from 43 percent and 31 percent, respectively, from 2013. That also represents the largest share of the mortgage market held by non-banks since 1995.
LINK HERE
According to data from the Federal Reserve, in 2014, nondepository independent mortgage companies originated 47 percent of completed home-purchase loans and 42 percent of refinance loans – up from 43 percent and 31 percent, respectively, from 2013. That also represents the largest share of the mortgage market held by non-banks since 1995.
LINK HERE
The Housing Recovery’s Missing Link
The declining number of first-time home buyers in the market is the major missing piece in the housing recovery, says Lawrence Yun, the chief economist for the National Association of REALTORS®.
Despite an uptick in home sales over the past year, the share of first-time home buyers in the housing market dropped for the third consecutive year, and remains at its lowest point in nearly three decades, according to the NAR 2015 Profile of Home Buyers and Sellers report.
LINK HERE
Despite an uptick in home sales over the past year, the share of first-time home buyers in the housing market dropped for the third consecutive year, and remains at its lowest point in nearly three decades, according to the NAR 2015 Profile of Home Buyers and Sellers report.
LINK HERE
Home Sellers Net Highest Profits in 8 Years
Rising home prices over the last few years are finally putting more money back into home sellers’ pockets. Home owners who sold during the third quarter saw an average price gain of $40,658 – or 17 percent – from the purchase price of their property – the highest average price increase for sellers since the third quarter of 2007, according to RealtyTrac’s Third Quarter 2015 U.S. Home Sales Report.
LINK HERE
LINK HERE
More Sellers, Buyers Say: We Need an Agent
Fewer home sellers and buyers are opting to navigate their home sale or purchase on their own, according to the National Association of REALTORS®’ 2015 Profile of Home Buyers and Sellers report. Nearly 90 percent of respondents surveyed say they worked with a real estate agent to buy or sell a home.
LINK HERE
LINK HERE
Here It Comes: Mortgage Rates Are Climbing
Average fixed-rate mortgages were on the rise this week as market expectations mounted over a possible rate hike from the Federal Reserve. Those expectations pushed the 30-year fixed-rate mortgage to its largest increase since June, up 11 basis points to 3.87 percent, Freddie Mac reported in its weekly mortgage market survey.
LINK HERE
LINK HERE
Study: Mortgage denials down for most
It was easier for San Diegans as a whole to get a mortgage last year, including most minorities, but African-Americans still have a tougher time, yearly mortgage data released Thursday showed.
In 2014, 10.2 percent of county residents were denied mortgages — down 0.4 percent — but African-Americans were denied 15.2 percent of the time, an increase in rejections of 2.1 percent from the last year, according to Zillow.
LINK HERE
LINK HERE
Sunday, November 1, 2015
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