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This is the place to view the past and present contests put on by ActiveRain and its members. Everyone can join the
group and help encourage each other. Current contest will be highlighted posts so it's easy for you all to see. Let it
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AR's community takes the time to leave honest and transparent reviews of their experiences
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Each month AR runs numerous contests as a way for our members to engage in activities
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Ask a Real Estate Question
Here's another avenue for you to build relationships with others. Share your expertise with someone searching for answers.
Play the teacher role and help someone out today
Your Homepage will alert you of new questions in your state
A wonderful way to open a door to a possible new client
Ask a question yourself to get help
These state pages or hyper-local pages provide content directly related to a specific geographical location.
State, County, City and Neighborhood pages make it easy for consumers to find what they're looking for.
Post your listings, school information, local events, market reports and more
Consumers peruse these pages for information
Farm your niche market and cover all the happenings in your neighborhood
INFO THAT HITS US WHERE WE LIVE...Last week's housing market facts were so good, it was hard for commentators to distort them into the negative picture many like to paint. Wednesday's Pending Home Sales for May came in 8.2% ahead of April, the biggest monthly gain since November and 13.4% higher than May a year ago! This annual hike was the first in over a year, while the monthly gain points to sales increases come June and July. All regions were up, the Midwest leading with a 17.2% annual bump!
April's Case-Shiller home price index posted its first gain in eight months, UP 0.8% in the top 10 metros and UP 0.7% in the top 20. Data aggregator CoreLogic's Home Price Index was UP in May for the second month in a row.
It was also nice to see consumers aren't discouraged. In a New York Times/CBS News poll, almost 9 in 10 Americans say homeownership is an important part of the American Dream. And consumers continue to believe that the market will eventually improve and housing will regain its traditional importance.
Lastly, the Wall Street Journal reported, "there are growing indications that it is a good time to buy," concluding that "the long-term case for home ownership is looking stronger."
BUSINESS TIP OF THE WEEK...Take the initiative. Don't wait for things to happen, get them started right now. Instigate, experiment, test, learn. Don't just react to the world, take action yourself!
>> Review of Last Week
It was an explosive week for stocks, as investors just couldn't wait for the weekend celebrations. It was one of the biggest weekly market gains in two years. Greece passed unpopular austerity measures and got its bailout. This calmed Wall Streeters worried about US bank exposure to Greek bonds. The week began with inflation still under control. Core PCE Prices were up 0.3% in May and up only 1.2% for the year.And personal income is up 4.2% in the past year.
On the jobs front, key to housing, the Bureau of Labor Statistics reported that in May, the unemployment rate fell year-over-year in 74% of the metro areas measured. Investors were also buoyed by an unexpected uptick in manufacturing. The Chicago PMI bolted up to 61.1 in June, showing strength in Midwestern manufacturing. Manufacturing nationwide also grew strongly, as the ISM Manufacturing index jumped to 55.3 for the month. In both cases a drop had been forecast.
With stocks surging, bonds headed lower as investor fears dissipated and the Fed ended its QE2 bond buying program. So the FNMA 4.0% bond dropped heavily, ending the week down 1.84, at $99.25. But national average rates on fixed-rate mortgages barely moved, still near yearly lows. National average rates on 5-year adjustable-rate mortgages (ARMs) also hit lows for the year.
DID YOU KNOW?
>> This Week's Forecast
WILL JOBS JUMP IN JUNE?...Happy Independence Day!
There are no economic reports today and markets are closed. Everyone's focus is on Friday's June Employment Report. Economists do not foresee a big jump in jobs just yet, only a nudge up to around 80,000 new payrolls. This won't be enough to drop unemployment below the existing 9.1% rate.
Wednesday features June ISM Services, forecast basically flat, but still above 50, indicating growth in the non-manufacturing sector. Service businesses provide around 85% of U.S. jobs, so expansion is good.
>> The Week's Economic Indicator Calendar
Weaker than expected economic data tends to send bond prices up and interest rates down, while positive data points to lower bond prices and rising loan rates.
Economic Calendar for the Week of July 4 - July 8
W Jul 6
Th Jul 7
Initial Unemployment Claims
Th Jul 7
Continuing Unemployment Claims
Th Jul 7
F Jul 8
F Jul 8
F Jul 8
F Jul 8
>> Federal Reserve Watch
Forecasting Federal Reserve policy changes in coming months...
With the recovery slowing, economists expect Fed Chairman Bernanke to keep the Funds Rate where it is until things get moving again. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.
Brent Kluge's 203K & HomePath Renovation Blog
Expert information for you for all your renovation needs focused on FHA 203k and FannieMae HomePath Renovation, HomeStyle and USDA reno.
From planning, to process, to loans, to finding a match with a contractor, Brent Kluge and his team will guide you through the entire process and avoiding the pitfalls along the way.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.