RISMEDIA, December 18, 2009—Despite significantly lower traffic and sales this month, Southern California retained pricing strength and the majority of surveyed builders expect revenues to increase in 2010, according to John Burns Real Estate Consulting’s December survey of home builders. “At this point, it’s clear that the extension and expansion of the tax credit weren’t enough to drive demand through the seasonally slow time of the year,” said Jody Kahn, a vice president with the firm. “This month’s survey results, backed by numerous … (0 comments)
la jolla: HUD Changes for Condo FHA Buyers
- 10/05/09 01:36 PM
HUD Changes for Condo FHA Did you hear about the upcoming changes from HUD in regards to approval for FHA financing on condos? They were announced this summer, but their effective date is now less than a month away. Here are some of the noteworthy provisions below, as well as a link to the webpage with a link to the official HUD letter – “Mortgage Letter 2009-19”. I hope this info is helpful. At the very least, it’s good to be informed, right?
FYI – the original effective date was 10/1/09, but it was extended to 11/2/09. Effective 11/2/09 … … (2 comments)
la jolla: Credit Crunch Constrains International Home Buyers in U.S. Market
- 09/26/09 04:28 AM
Credit Crunch Constrains International Home Buyers in U.S. Market RISMEDIA, September 26, 2009—Interest in U.S. real estate by international buyers declined due to the worldwide recession and severe credit crunch, according to the 2009 National Association of Realtors® Profile of International Home Buying Activity. The share of Realtor clientele who are foreign buyers is smaller than in previous years, but among those purchasing, nearly half paid all cash–bypassing the mortgage process. Twenty-three percent of survey respondents served at least one international client in the 12-month period between the end of May 2008 and the end of May 2009, down from 26% in … (0 comments)
la jolla: Home Builder's Confidence Edges Up for Third Consecutive Month
- 09/18/09 03:39 AM
Builder Confidence Edges Up for Third Consecutive Month RISMEDIA, September 18, 2009—Home Builder confidence in the market for newly built, single-family homes edged higher for a third consecutive month in September, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI rose one point to 19 this month, its highest level since May of 2008. “Builders are seeing some improvement in buyer demand as a result of the first-time home buyer tax credit, and low mortgage rates and strong housing affordability have also helped to revive some optimism,” noted Joe Robson, chairman of the National Association … (0 comments)
la jolla: The Clock Is Ticking as First-Time Buyers Intensify Their House Hunting
- 09/18/09 03:18 AM
The Clock Is Ticking as First-Time Buyers Intensify Their House Hunting RISMEDIA, September 18 by amy hoak 2009—(MCT)—Tired of paying rent and enticed by a first-time home buyer tax credit, 25-year-old Garrett Rebel began his search for a home in August, scouring the suburbs of Dallas for a house to meet his current and future needs. And he’s already running out of time. The federal tax credit for first-time buyers is “a huge motivator” for Rebel, and he may end his search if the Nov. 30 deadline arrives and he still hasn’t closed on a deal. He unsuccessfully submitted an offer … (0 comments)
la jolla: Treasury Says Millions More in Foreclosures are Coming; Are You Ready?
- 09/17/09 02:56 AM
RISMEDIA, September 17, 2009 by mike parker—According to recent announcements by the U.S. Treasury Department, another wave of foreclosures is on the way in 2010. For over a year, now, we’ve been digesting foreclosures and distressed properties and it looks like we’ll all be doing it for another year or so. It’s too large a market segment to ignore: in some parts of the country, distressed properties account for about 65% of sales these days. While some agents sniff imperiously and decline to partake in such unpleasant things as foreclosures, short sales, and Bank Owned Properties, others are laughing all the way … (1 comments)
RISMEDIA, September 10, 2009—(By Sandra Emerson MCT)—A gauge of future U.S. home sales rose more than expected in July 2009 to the highest level in more than two years as first-time buyers rushed to take advantage of a tax credit that expires this fall. The National Association of Realtors recently said its seasonally adjusted index of sales contracts signed in July for previously occupied homes rose 3.2% to 97.6. It was the sixth straight increase, and 12% higher than the same month last year. The index of pending home sales could indicate how … (0 comments)
la jolla: Taking Advantage of Negotiation – U.S. Homebuyers Paid $7,039 Less Than Listing Price in July
- 09/15/09 11:42 AM
Taking Advantage of Negotiation – U.S. Homebuyers Paid $7,039 Less Than Listing Price in July RISMEDIA, September 15, 2009—Amid continued falling home prices, U.S. homebuyers are negotiating even more discounts at the bargaining table, according to July’s Zillow Real Estate Market Reports. Buyers paid 3.3%, or a nearly $7,039, less than the last listing price on homes for sale during the month of July 2009. That is down slightly from 3.5%, or $7,630, in June, and substantially down from 4.6% ($10,260) in January. Meanwhile, 22.8% of all homes listed for sale on Zillow had at least one listing price reduction as of … (0 comments)
RISMEDIA, September 16, 2009—Trulia, Inc., a leading place to start your real estate search, announced that 26% of homes currently on the market in the United States as of September 1, 2009 have experienced at least one price cut. Price reduction levels have increased for the fourth straight month and have seen a 10% overall increase compared to June of this year. During the summer months of June to September, the total amount slashed from home prices has increased by more than $1.1 billion from $27.4 billion to $28.5 billion. The … (0 comments)
la jolla: Realogy CEO Richard Smith Urges First-Time Homebuyer Tax Credit Expansion
- 09/15/09 11:28 AM
Realogy CEO Richard Smith Urges First-Time Homebuyer Tax Credit Expansion RISMEDIA, September 16, 2009—Realogy CEO Richard Smith appeared on Fox Business Network earlier this week to discuss the state of the housing market as well as the proposed legislation in Congress to expand the first-time homebuyer tax credit to all homebuyers.
With the $8,000 Federal Tax Credit set to expire on November 30, 2009, real estate professionals across the board are urging Congress to expand the credit to all home buyers across all market segments in order to allow the recovery that we have seen thus far to continue. The … (0 comments)
la jolla: Positive Signs: Real Estate Home Prices Rise 1.7% in Second Quarter
- 09/12/09 10:22 AM
RISMEDIA, September 11, 2009—Freddie Mac announced that its Conventional Mortgage Home Price Index (CMHPI) Purchase-Only Series registered a 1.7% quarterly gain (7.0% annualized) during the second quarter 2009 for the U.S., following a downward revised 1.5% drop (–5.9% annualized) in the first quarter. Over the year ending with the second quarter of 2009, U.S. home sales prices fell 6.7% in the CMHPI Purchase-Only Series – less than the 8.5% annual decline recorded between the first quarter of 2008 and the first quarter of 2009. “The pickup in home price growth rates is consistent with other housing market indicators that show home … (1 comments)
la jolla: First-Time Homebuyers Have Unique Advantage in Mortgage Market
- 09/12/09 10:17 AM
First-Time Homebuyers Have Unique Advantage in Mortgage Market RISMEDIA, July 28, 2009-(MCT)-By George W. Manto First-time homebuyers and those thinking about refinancing are in a great place. Mortgage rates just fell for the third straight week, according to mortgage finance firm Freddie Mac. “The credit markets are still tight, but they have loosened up significantly from 90 days ago,” said Scott Norman, vice president of the Texas Mortgage Bankers Association. So is this a good time to enter a mortgage transaction? It might be, if you can qualify. “The two biggest issues are going to be credit and down payment,” Norman … (2 comments)
la jolla: Federal ‘Cash for Appliances’ Program Should Spur Sales
- 09/10/09 08:12 AM
Federal ‘Cash for Appliances’ Program Should Spur Sales RISMEDIA, by Mark Glover September 10, 2009—(MCT)—Did you recently trade in that old clunker for a new car? OK, so how are you fixed for a new refrigerator? Or maybe a new dishwasher or heat pump? Brace yourself. A federal “cash for appliances” program is likely on its way to a store near you before the end of the year. Comparatively unnoticed in the economic stimulus package approved by Congress earlier this year was a $300 million program offering rebates to buyers of more energy-efficient appliances and other products with the Energy Star … (2 comments)
la jolla: Positive Signs – House Price Declines Continue to Moderate
- 09/08/09 03:38 AM
Positive Signs – House Price Declines Continue to Moderate <!-- Single post title end --> RISMEDIA, September 8, 2009—House prices in the U.S. continued to depreciate in the second quarter 2009 but at a much more moderate rate compared to the fourth quarter 2008, the peak of the collapse in home prices, according to a quarterly housing valuation analysis by IHS Global Insight. Prices fell at a 2.7% annualized rate in the second quarter 2009, compared to 2.1% in the first quarter and a 12.5% rate of decline in the fourth quarter 2008, according to the new House Prices in … (0 comments)
la jolla: Marketing Strategies: How to Stay Positive No Matter What
- 09/03/09 03:10 AM
Marketing Strategies: How to Stay Positive No Matter What Great Tips from Top Producing Agnets on how to stay positve Dr. Maya Bailey RISMEDIA, September 2, 2009—Now more than any other time in our recent history, it is important that we find ways to stay positive no matter what. Why? Because your success depends on your mindset, not on the economy or on the marketplace. How do I know this to be a fact? I’ve interviewed hundreds of top producing sales people all over the U.S. and Canada, and when I asked them the secret to their success, unquestionably and without … (2 comments)
la jolla: Housing Affordability Continues to Hover Near Highest Level in 18 Years
- 08/21/09 05:41 AM
Latest news from RISMEDIA, August 21, 2009-Bolstered by affordable interest rates and low prices, nationwide housing affordability during the second quarter of 2009 continued to hover near its highest level since the series began 18 years ago, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). The HOI showed that 72.3% of all new and existing homes sold in the second quarter of 2009 were affordable to families earning the national median income of $64,000, down only slightly from the record-high 72.5% during the previous quarter and up from 55.0% during the second quarter of 2008.
By Roger Showley Union-Tribune Staff Writer 2:00 a.m. August 19, 2009 The chief economist for the National Association of Realtors predicted yesterday that mortgage interest rates will rise to 6 percent next year but saw no evidence of a “double dip” in housing price declines. Economist Lawrence Yun, keynoting the San Diego Association of Realtor's regional real estate summit, said California and San Diego are at the leading edge of a real estate recovery, based on rising prices and … (0 comments)
Has the Housing Industry Hit Bottom? As Demand Disappears, Builders Say 2009 Marks Housing’s Bottom 
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