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housing market: Builder Confidence Slips For First Time In Seven Months - 04/16/12 09:54 PM
According to the National Association of Home Builders’ Housing Market Index, builder confidence slipped three points to 25 in April, the first decline after seven consecutive months of gains. The index measures builders’ perception of the market for newly built, single-family homes on a scale where any number below 50 indicates more builders view conditions as poor than good. David Crowe, NAHB’s chief economist, said the decline is a pause in what has been a fairly rapid build-up in confidence since last September. According to Crowe, despite increased interest from potential buyers, builders have yet to see that interest translate into … (0 comments)
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housing market: Rising Rents Make Buying A Better Deal - 04/09/12 08:39 PM
This year’s selling season comes with an added dose of optimism due, in part, to the increasing cost of renting a home or apartment. A survey by research firm Reis, found the average apartment’s rent rose 2.7 percent last year and, in some markets, was up more than five percent. And, though historically renting has been 10 percent cheaper than buying a home, an analysis from Deutsche Bank found that the gap began closing in 2010 and, by the end of last year, renting was nearly 15 percent more expensive than buying. This, along with high affordability and low mortgage rates, … (2 comments)
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housing market: Housing Analysis Says Many Markets Bottomed In 2009 - 04/02/12 09:24 PM
According to data released by Pro Teck Valuation Services, many housing markets across the country bottomed in 2009, despite industry analysts saying prices had further to fall. The data shows that many markets are already stabilizing or rebounding. Tom O’Grady, Pro Teck’s chief executive, said their data indicates that prices should be gradually increasing over the next few years, though the rate at which they increase will depend on the specifics of each individual market. The evaluation divided the number of non-distressed property sales by the total housing stock in each region as an indicator of future price performance. In addition, … (0 comments)
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housing market: Builder Confidence At Highest Level Since 2007 - 03/19/12 06:44 PM
Builder confidence in the market for new single-family homes is twice as strong as it was six months ago and at its highest level since 2007. The latest National Association of Home Builders Housing Market Index, which measures builders’ expectations and perceptions, was unchanged from last month. Barry Rutenberg, chairman of the NAHB, said builders are still cautious but there’s a sense that many local housing markets have started to move in the right direction and that prospects for future sales are improving. The component gauging builders expectations for sales over the next six months was up for the six consecutive … (3 comments)
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housing market: Refinancing Homeowners Reduced Debt In Fourth Quarter - 02/07/12 12:23 AM
Freddie Mac recently released their fourth-quarter refinance analysis and it shows that 85 percent of homeowners who refinanced their mortgages during the fourth quarter of 2011 maintained or reduced their principal balance by paying-in additional money at the closing table. Frank Nothaft, Freddie Mac’s vice president and chief economist, said savvy homeowners are taking advantage of some of the lowest fixed-rates in more than 60 years to lock in interest savings. According to Nothaft, the typical borrower who refinanced during the fourth quarter reduced their interest rate by approximately 1.4 percentage points. During the fourth quarter, 37 percent of homeowners who … (0 comments)
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housing market: Analysts, Experts Say Rate Of Recovery Varies By Location - 12/06/11 10:37 PM
A panel of industry analysts, insiders, and experts brought together for a recent mortgage-banking conference expressed hope for the housing market but cautioned that the rate of recovery will vary greatly depending on location. Eric Fox, vice president of statistical and economic modeling for Veros Real Estate Solutions, said price-to-rent ratios, demographic trends, and affordability combined with other variables such as schools and neighborhoods will determine the pace of recovery for local real estate. But, despite the number of factors affecting individual markets, the gathered analysts said now is a great time to buy a home due to high affordability and … (0 comments)
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housing market: Census Says Homeownership Rate on the Rise - 11/03/11 11:12 PM
Data released by the U.S. Census Bureau shows homeownership rose between the second and third quarter of this year, increasing to 66.3 percent from 65.9 percent the previous quarter. Homeownership peaked in 2004 at nearly 70 percent, though it stayed between 64 and 65 percent for much of the 40 years prior to the housing boom. The new data finds the homeownership rate for adults under the age of 35 at 38 percent, down from 42 percent in 2007. The rate for people between the ages of 35 and 44 was also down, dipping from 65.2 percent last year to 63.4 … (2 comments)
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housing market: Program Changes Hope to Help Underwater Homeowners - 10/24/11 10:30 PM
The Federal Housing Finance Agency is easing the terms of the Home Affordable Refinance Program in order to help the estimated 11 million homeowners who have been making their mortgage payments but are unable to refinance because their loans are worth more than their homes. The HARP program has helped more than 890,000 homeowners since its launch but has been criticized for inefficiency. The changes hope to streamline the program and include allowing homeowners that owe more than 125 percent of the market value of their home to get new loans. Edward DeMarco, acting director of the FHFA, said the goal … (3 comments)
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housing market: Senators Urge Administration To Adopt Changes To Refi Plan - 10/17/11 10:53 PM
With mortgage rates hovering near all-time lows, a bipartisan group of senators has sent a letter urging the Obama administration to make changes to the Home Affordable Refinance Program in order to help more homeowners take advantage of the historically low rates. More than 13 million homeowners have refinanced their mortgages since 2009, saving nearly $20 billion. But federal programs put in place to boost the number of homeowners able to refinance their mortgages have been slow moving and received criticism for inefficiency. The senators’ letter said time is of the essence and urged the administration to act quickly and aggressively … (0 comments)
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housing market: Building Permits on the Rise in August - 09/20/11 10:48 PM
Permits to build privately-owned housing units in August rose 3.2 percent above July’s estimates and 7.8 percent above last year, according to new residential construction statistics from the U.S. Census Bureau and the Department of Housing and Urban Development. Single-family building permits rose 2.5 percent above the month before. Despite the rise in permits for future construction, housing starts fell in August, down 5.0 percent from July’s revised pace. The decline was due, in large part, to a 13.5 percent drop in multifamily housing. Single-family home construction was down just 1.4 percent from July. More here and here. … (2 comments)
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Jan Delimont, Principal Broker
Coos Bay,
OR
More about me…
Prudential Seaboard Properties
Address: 556 N. Bayshore Drive, Coos Bay, OR, 97420
Office Phone: (541) 269-0355
Cell Phone: (541) 290-1850
Email Me
Looking to buy or sell a home in Coos Bay, Charleston, North Bend, Telegraph Hill, Simpson Heights, Lakeside, Bandon or Coquille, Oregon? Jan Delimont (541-290-1850) is just the person to help you out. Licensed in Oregon
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