real estate: Housing prices UP, Again.... and some data supporting home prices
- 10/31/23 08:28 AM
The latest numbers for Case Shiller and FHFA are out and both show strong increases in home prices. Zillow did report a small decline in September of 0.1% .
Over all 2023 is shaping up to be another good year for home prices:
You've probably heard over and over again the simple Economics 101 Supply and Demand argument stating that we still have demand and we don't have enough inventory. I have even written about this one and included population numbers, household formations and more that also support housing prices...
Here is another piece to consider: Mortgage Delinquencies are at a 25 year low.
This … (2 comments)
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real estate: Price Reductions do not mean home prices are going down.
- 09/11/23 12:55 PM
Price Reductions do not mean home prices are going down.
Price reductions do not mean values are down
Housing Wire and Altos Research had an article last week that suggested that price cuts could be a leading indicator of future home prices. The facts do not support that at all.
In 2018-2019 home prices were up even with increasing price reductions (approximately 30 % of listings had a reduction in price.)
2020 home prices rose while price reductions were steady from the previous year, averaging over 20% of listings reducing their list price.
2021 Home prices went up 19% for the year with sharply higher price … (2 comments)
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real estate: Concerned about Home prices?
- 08/29/23 08:19 AM
It has been a recurring theme the past few years where potential buyers are waiting because of home prices being too high, in hopes that they will go down.
In previous posts I provided a lot of population data and economic data to show how that is very unlikely.
Here's a different twist with over 100 of the top economists in the country surveyed with their forecasts for the next 5 years.
The survey from all respondents (and I think it was 150 this year) they have this years forecast at a conservative 3.3% which I believe we will easily beat, I think we … (2 comments)
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real estate: Considering Buying in NJ? Start your Dream Today!
- 07/22/19 08:53 AM
We have a very lucky break this year- Rates took a big drop down, many mortgage guidelines have eased, there are numerous options for low or no down payment mortgages, Numerous options for Rehab loans and Unemployment is low.
If you have been considering buying a home in NJ, the time may be just about perfect right now. Give me a call to discuss your options!
Rob
Robert Rauf
Mortgage Loan Originator NMLS# 248937
http://www.homebridge.com/RobertRauf
or my blog: http://activerain.com/blogs/rrauf
Office: (732)908-4868 Cell (732)740-0175
RRauf@HomeBridge.com
www.RobertRauf.com
Since 1987 I have been helping my clients fulfill their dream of home ownership! HomeBridge Financial Services, Formerly REMN, HomeBridge Financial Services is located at 9 … (0 comments)
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real estate: Ditech's Chapter 11 can cause unexpected closing delays.
- 06/20/19 08:10 AM
By now you probably have heard that Ditech Financial Filed for Chapter 11 Bankruptcy protection. While this is not a blog about Ditech it is an example of things to look out for in your day to day Real Estate transactions.
If you have a listing that has a Ditech mortgage- Make sure the settlement agent orders the pay off early. There can be delays.
Here is an email I was forwarded this morning for a deal with a contract date of Friday the 21st, and moved to Monday:
Still no payoff and I'm still on the phone for another half hour trying to get … (0 comments)
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real estate: Realtors: Simple ways to speed up your closings
- 05/07/19 08:37 AM
This has been a recurring theme (nightmare) for lenders. Real Estate Contracts that are not filled out completely
Back in 1987 I remember going to one of my first big meetings in the mortgage world and having it beaten into our heads. "FILL IN THE BLANKS" It sounds so simple (and honestly it really is). In the mortgage world a few extra minutes cleaning up an application saves hours if not days later. (In the mortgage world we have WAY more paperwork than the Realtor's side.) The same is true for Listing and Selling agents.
I am going to go out on the limb … (0 comments)
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real estate: Links You can Use: MARKETPLACE- More Exposure For Your Listings
- 03/28/14 02:32 AM
My previous post on Links you can use in the Real Estate Biz focused on town information ( http://activerain.com/blogsview/4357368/the-answers-to-the-questions-your-clients-ask-that-you-cant-answer ).
Today's post is another way to market your listings.
FACEBOOK,
That's correct Facebook...
Not on your wall, not in a group, but in a little place tucked behind your wall called marketplace. Take a look at www.facebook.com/marketplace you can sell anything there. It certainly can not hurt to get a little more exposure for your sellers!
I do think you should still look into groups as well.
I always use groups- for me: Woman's Council of Realtors, Ocean County Realtors, Jersey Shore … (9 comments)
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real estate: The Answers To The Questions Your Clients Ask-THAT YOU CANT ANSWER
- 03/25/14 02:38 AM
How often do you have clients that ask the questions you know you can't answer?
The demographics of an area, crime rates etc...
Wouldn't it be great if you had a place to send them, rather than just saying: "I cant answer that" or "Take a drive around the neighborhood"
There is a place to send them to give them all the details of an area: Just Click HERE.
Once you have the web page up, enter a zip code and give it a minute or two to load (there is a huge amount of data that takes time) and you … (20 comments)
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real estate: This Week's Sales tip
- 03/11/13 05:27 AM
I KNOW THAT! (Or do I?)
As salespeople we tend to “know” everything. But, we need to start asking ourselves how good we are at what we know.
Zig Ziglar once said that salespeople are the smartest people in the world, they just have lousy bosses – themselves!
A confident person with a positive attitude that asks himself, “How good am I at that,” and then seeks a way to improve.
Admitting your shortcomings isn’t a negative thing. In fact, it’s powerfully positive…as long as you’re willing to improve!
Have a great week!
Rob
Robert Rauf
… (2 comments)
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real estate: Home Prices Rise in 19/20 markets!
- 02/28/13 02:12 AM
Have a great week!
Rob
Robert Rauf
Mortgage Loan Originator
NMLS ID# 248937
http://robertrauf.remn.com/Default.aspx or my blog: http://activerain.com/blogs/rrauf
(732)557-6920 x102
RRauf@REMN.com
Since 1987 I have been helping my clients fulfill their dream of home ownership!
Real Estate Mortgage Network Inc.
Real Estate Mortgage Network, Inc. is located at 16 Madison Avenue, Building 2 Suite 2D Toms River, NJ 08753. NMLS #6521. New Jersey Licensed Lender and Mortgage Banker #L041053. Visit www.REMN.com for more information.
NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey, Toms River … (4 comments)
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real estate: Wednesday Morning Quote: Real Estate
- 05/04/11 03:08 AM
Real estate can not be lost or stolen, nor it can be carried away. Purchase with common sense, paid for it in full and managed with reasonable care, it's about the safest investment in the world.
Franklin Delano Roosevelt.
Have a great week!
Rob
Robert Rauf
Mortgage Banker
NMLS ID# 248937
www.RobertRaufHomeLoans.com or my blog: http://activerain.com/blogs/rrauf
(732)223-1630 x102
RRauf@REMN.com
Since 1987 I have been helping my clients fulfill their dream of home ownership!
Real Estate Mortgage Network Inc.
NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey, … (2 comments)
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real estate: National Flood Insurance Program Has Temporary Funding
- 04/16/10 07:25 AM
A few weeks ago I wrote a blog about the National Flood insurance program expiring the end of March. Well we just got a little bit of good news:
President Obama signed emergency legislation last night which allows insurance agents to write flood insurance policies again. Therefore, restrictions regarding properties located in a flood zone are lifted.
this is only temporary, I am getting conflicting info here, one of my sources says it is ony extended for 30 days, and the NAR says it is extended until May 31, 2010. I would bet that the National Association of Realtors is … (3 comments)
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real estate: Fannie, Short Sales, And your Commission.
- 06/27/09 04:20 AM
Commissions and the Short Sale
You may want to Visit Realtor.org for further info on this... it is a bit of old news from earlier this year but I still hear agents being asked to negotiate their commissions on a short sale. I have always advised listing a property at full commission for your area. In NJ "full" is typically 6%... and Fannie seems to feel that that is a fair number. It doesn't do you any good to list a potential short sale at a discounted rate! You will work harder and longer and you do deserved to be paid more than … (18 comments)
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real estate: Is your Blog compliant? The Real Estate Commission is Monitoring Social Networking sites
- 06/04/09 08:32 AM
Are you Compliant?
Obviously if you are reading this blog you are using Social Networking as part of your business plan and I commend you for it. I think it is a great way to get your knowledge of a community "out there" so potential buyers and sellers can find you.
What you may not know: Your Local Real Estate Commission considers social networking ( Blogging, Pod Casts, etc) to be advertising, and all rules of advertising MUST be followed, and they are NOW monitoring social networking sites to be sure we are being compliant.
For Example: (in NJ)
Your company … (98 comments)
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real estate: Are we Going to Lose the Mortgage Interest Deduction?
- 02/27/09 08:40 AM
CAN THE REAL ESTATE INDUSTRY AFFORD TO LOSE THE MORTGAGE INTEREST DEDUCTION?
President's Plan May Cut The Mortgage Interest Deduction
I just received this release from the NJAR Week in Review. There is already talk of bumping the tax rate up to 39% for people in this income bracket, and now they want to take away one of the only deductions that a W2/Salaried person has??? How is this fair? I know for some 250k is a huge number... But in certain areas of the country it is a respectable, but hardly "Rich People Money" Income.For example, if you make $250,000 … (10 comments)
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real estate: Economic Calendar for the week of February 17th 2009... What is happening with interest rates?
- 02/17/09 06:23 AM
What is happening in the Credit markets this week? It is a fairly busy calendar in this holiday shortened week with more than just economic data that has the potential to move markets this week. Here is the calendar:
Monday: Market was closed Tuesday February 17: Obama will sign the Economic stimulus legislation in Denver CO. So far the market is happy today on this news. The Bill is a $787 Billion (every time I type the word "billion" I hear Dr Evil's voice.... is it just me?) Wednesday February 18: President Obama Expected to announce a plan to … (13 comments)
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real estate: Habitat For Humanity Benefit: Toms River NJ
- 02/06/09 05:22 AM
Time For Relaxation
The Gallery Day Spa in Cooperation with Habitat for Humanity is holding a benefit with all proceeds going to the northern Ocean County Habitat for Humanity.
Where: The Gallery Day Spa, 3324 Route 37 East Toms River, NJ For: Men and Women of all ages What: Treat yourself to some Relaxation at the Full Service Spa When: Sunday February 8, 2009 from 3-9pm Cost: $30 advanced ticket or $35 at the door on Sunday Contact: (732) 929-0300 or Visit the Spa This is a great way to treat yourself and to help out a local cause, your … (5 comments)
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real estate: Advertising in a recession.
- 12/24/08 12:57 AM
Advertise In a Recession? Are You Crazy?
As it turns out you're crazy not to advertise in a recession. Many studies over the years (even going back to the Great Depression) have shown that investing in marketing during rough economic times is actually more effective than when times are good. This doesn't seem to make sense until you think through the logic.
During a recession most businesses decide to cut expenses in order to weather the storm. And one of the first expense items to take a hit is advertising and marketing. To savvy marketers and business owners this is an … (32 comments)
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real estate: Yes you CAN still get a loan.
- 10/02/08 09:06 AM
For the past week or two we have been receiving calls from our clients asking if they are still able to get a loan. These calls have been for clients who are buying homes, are approved and just weeks away from closing. All of the negative articles and news has consumers running scared and has pushed some of them under rocks, like chicken little... except the Sky is NOT falling!
Most people have heard the bail out plan that has been in the news this week is because credit has dried up and banks are not lending. While this is … (11 comments)
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real estate: Read beyond the headlines
- 09/30/08 05:24 AM
The New "F-word"
As a consumer you need to do yourself a favor and STOP listening to the media! There isn't anything that will depress you faster than reading the paper or listening to the news. The word Foreclosure has been tossed around a little too much lately. It is a recurring theme that the media never reports positive information, it only knows how to hunt for the negative information. Here are some of August's numbers based on figures from Realtytrac, Inc.
There are pockets of truly "bad" and there are a few states that are bringing the national Foreclosure numbers … (9 comments)
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The latest numbers for Case Shiller and FHFA are out and both show strong increases in home prices. Zillow did report a small decline in September of 0.1% .
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