housing market: Homeowners: Your Home Must Be Sold TWICE
- 07/13/17 01:24 AM
Homeowners: Your Home Must Be Sold TWICEIn today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal.
If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.
Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what … (0 comments)
|
housing market: Median Days on the Market Drops to 27!
- 07/07/17 02:08 PM
Median Days on the Market Drops to 27!Some Highlights: The National Association of REALTORS® surveyed their members for their monthly Confidence Index. The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions. Homes sold in less than a month in 24 out of 50 states, and Washington D.C. Homes typically went under contract in 27 days in May!
Read from source..>>
//
Questions, Comments or For more information you can contact Christian Penner at: (561) … (1 comments)
|
housing market: The Supply & Demand Problem Plaguing New Construction
- 06/21/17 08:13 AM
The Supply & Demand Problem Plaguing New ConstructionMany real estate economists have called on new home builders to ramp up production to help relieve the shortage of inventory of homes for sale throughout the United States. The added inventory would no doubt aid buyers in their search to secure their dream home, while also helping to ease price increases throughout the country.
Unfortunately for builders, there are many forces that are making it difficult for them to do just that!
Last week at the National Association of Real Estate Editors 51st Annual Conference, CoreLogic’s Chief Economist Frank Nothaft broke down the 4 ‘L’s … (0 comments)
|
housing market: 69% of Buyers are Wrong About Down Payment Needs
- 06/07/17 09:46 PM
69% of Buyers are Wrong About Down Payment NeedsAccording to a recent survey conducted by Genworth Financial Inc. at the Annual Mortgage Bankers’ Association Secondary Market Conference, mortgage professionals say that first-time buyers still believe a 20% down payment is necessary to buy in today’s market.
Nearly 40% of mortgage industry professionals surveyed believe that a lack of knowledge about the home-buying process is keeping potential buyers on the sidelines. Saving for a down payment is often cited as a huge barrier for first-time homebuyers to make the leap into homeownership.
If homeowners believe that they need a 20% down payment to … (1 comments)
|
housing market: If Your Home Hasn’t Sold Yet… Definitely Check the Price!
- 06/07/17 05:57 PM
If Your Home Hasn’t Sold Yet… Definitely Check the Price!The residential housing market has been hot. Home sales have bounced back solidly and are now at their fourth highest pace over the past year. Demand has remained strong throughout spring as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house?
If your house hasn’t sold, it could be the price.If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will … (2 comments)
|
housing market: 5 Reasons You Should Sell This Summer
- 06/07/17 06:22 AM
5 Reasons You Should Sell This SummerHere are five reasons listing your home for sale this summer makes sense.
1. Demand Is StrongThe latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition NowHousing inventory is currently at a 4.2-month supply, well under … (0 comments)
|
housing market: Can Your Real Estate Agent Answer These Important Questions?
- 06/02/17 01:04 AM
Can Your Real Estate Agent Answer These Important Questions?Whether you are selling or buying a home, the real estate agent you hire is critical to guaranteeing your family makes the right decision. Most agents can walk you through the process and explain the industry ‘lingo,’ but you should expect so much more than that.
The housing crisis made everyone aware that truly understanding the real estate market is more complicated than it seems. Today, there are many questions your real estate agent must be able to answer to ensure your family is making the right decision. Here are just a few:
What … (0 comments)
|
housing market: How's the Real Estate Market? Find Out What the Experts Are Saying
- 05/26/17 01:50 AM
How’s the Real Estate Market? Find Out What the Experts Are Saying As we head into summer, it is a great time to review how the 2017 real estate market is doing so far. Here is what the experts are saying:
Doug Duncan, Fannie Mae Chief Economist “Positive demographic factors should continue to reshape the housing market, as rising employment and incomes appear to be positively influencing millennial homeownership rates.”
Diana Olick, CNBC “Even as more homes come on the market for this traditionally popular sales season, they’re flying off fast, with bidding wars par for the course. Home prices have … (0 comments)
|
housing market: More Americans Chose to Own a Home Than Rent in Q1
- 05/25/17 10:42 PM
More Americans Chose to Own a Home Than Rent in Q1 According to the latest report from the US Census Bureau, more Americans chose purchasing a home over signing a lease to rent in the first quarter of 2017. This marks the first time since 2006 that the number of new homeowner households outpaced the number of new renter households.
Of the 1.22 million new households that were formed in the first quarter, 854,000 were new-owner households making the jump straight to homeownership rather than renting first.
That means that the homeownership rate amongst new households was 70%! This is huge … (0 comments)
|
housing market: Homes & Money Newsletter - 2nd Quarter 2017
- 05/24/17 11:20 PM
Read from source..>>
//
Questions, Comments or For more information you can contact Christian Penner at: Call/Text: (561) 316-6800 or visit us online at www.ChristianPenner.com
The Christian Penner Mortgage Team, A Branch of
American Financial Network, Inc
CORP NMLS# 237341 ; Equal Opportunity Employer ; Equal Opportunity Lender American Financial Network, Inc. 10 Pointe Drive, Suite 330, Brea, CA 92821.
Call/Text: (561) 316-6800
Or You can click "Call Me" below to call Christian Penner directly using Google Voice
#ChristianPenner, #MortgageBrokerWestPalmBeach talks about #RealEstateWestPalmBeach. He also serves other Local Areas and provides home #MortgageSolutionsforPalmBeachGardens, #Jupiter, #BocaRaton, #Wellington and #Tequesta. #ChristianPennerMortgageBrokerJupiter has the #lowestmortgagerates and the best #homemortgage … (0 comments)
|
housing market: Inventory Shortages Are Slowing Down the Market
- 05/10/17 08:42 AM
Inventory Shortages Are Slowing Down the Market The real estate market is moving more and more into a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2017 will be the year that the housing market races forward again.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the summer, supply is not keeping up.
Here are the thoughts of a few industry experts on the subject:
Lawrence Yun, … (1 comments)
|
housing market: Is 2017 the Year to Move Up to Your Dream Home? If So, Do It Early!
- 05/09/17 06:18 AM
Is 2017 the Year to Move Up to Your Dream Home? If So, Do It Early! If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves forward, and interest rates may increase rather dramatically. Here are some predictions on where rates will be by the end of the year:
Freddie Mac “While full employment and rising inflation are signs of a strong economy, they also have … (0 comments)
|
housing market: Buying a Home? Do You Know the Lingo?
- 05/04/17 05:07 PM
Buying a Home? Do You Know the Lingo? Buying a home can be intimidating if you are not familiar with the terms used during the process. To start you on your path with confidence, we have compiled a list of some of the most common terms used when buying a home.
Freddie Mac has compiled a more exhaustive glossary of terms in their “My Home” section of their website.
Annual Percentage Rate (APR) – This is a broader measure of your cost for borrowing money. The APR includes the interest rate, points, broker fees and certain other credit charges a borrower … (1 comments)
|
housing market: Mortgage Market Guide: Home Loan Rates Hit 2017 Lows
- 04/19/17 12:29 AM
Mortgage Market Guide: Home Loan Rates Hit 2017 Lows
Read from source..>>
//
Questions, Comments or For more information you can contact Christian Penner at: Call/Text: (561) 316-6800 or visit us online at www.ChristianPenner.com
The Christian Penner Mortgage Team, A Branch of
American Financial Network, Inc
CORP NMLS# 237341 ; Equal Opportunity Employer ; Equal Opportunity Lender American Financial Network, Inc. 10 Pointe Drive, Suite 330, Brea, CA 92821.
Call/Text: (561) 316-6800
Or You can click "Call Me" below to call Christian Penner directly using Google Voice
#ChristianPenner, #MortgageBrokerWestPalmBeach talks about #RealEstateWestPalmBeach. He also serves other Local Areas and provides home #MortgageSolutionsforPalmBeachGardens, #Jupiter, #BocaRaton, #Wellington and … (0 comments)
|
housing market: The 'REAL' News about Housing Affordability
- 04/06/17 08:43 PM
The ‘REAL’ News about Housing Affordability Some industry experts are claiming that the housing market may be headed for a slowdown as we proceed through 2017, based on rising home prices and a potential jump in mortgage interest rates. One of the data points they use is the Housing Affordability Index, as reported by the National Association of Realtors (NAR).
Here is how NAR defines the index:
“The Housing Affordability Index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national level based on the most recent price … (0 comments)
|
housing market: Consumer Confidence in Economy & Housing is Soaring
- 03/30/17 07:44 PM
Consumer Confidence in Economy & Housing is Soaring The success of the housing market is strongly tied to the consumer’s confidence in the overall economy. For that reason, we believe 2017 will be a great year for real estate. Here is just a touch of the news coverage on the subject.
HousingWire: “Consumers’ faith in the housing market is stronger than it’s ever been before, according to a newly released survey from Fannie Mae.”
Bloomberg: “Americans’ confidence continued to mount last week as the Bloomberg Consumer Comfort Index reached the highest point in a decade on more-upbeat assessments about the economy … (1 comments)
|
housing market: What Are the Experts Saying about Mortgage Rates?
- 03/25/17 11:53 AM
What Are the Experts Saying about Mortgage Rates? Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is what the experts are saying:
Laurie Goodman, Co-director of the Urban Institute’s Housing Finance Policy Center:
“In 1984, 1994, 2000, and 2013, every time we have rate increases, we have increases in nominal home prices. We expect this to be more pronounced, as there is a big demand-and-supply gap at the present time.”
Scott Anderson, Chief Economist for Bank of the … (0 comments)
|
housing market: Housing Market Expected to “Spring Forward”
- 03/09/17 01:56 PM
Housing Market Expected to “Spring Forward” Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.
Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.
Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.
That hasn’t happened this year. … (0 comments)
|
housing market: How Long Do Most Families Stay in Their Home?
- 03/06/17 11:21 PM
How Long Do Most Families Stay in Their Home? The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%.
Why the dramatic increase? The reasons for this change are plentiful!
The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where … (4 comments)
|
housing market: US Housing Market Is Moving into ‘Buy Territory’!
- 02/20/17 09:54 PM
US Housing Market Is Moving into ‘Buy Territory’!According to the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment.
The BH&J Index is a quarterly report that attempts to answer the question:
In today’s housing market, is it better to rent or buy a home?The index examines the entire U.S. housing market and then isolates 23 major cities for comparison. The researchers “measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property … (0 comments)
|
;)
;)
