real estate news: A Housing Market Meltdown Possibly? Some Experts Disagree... - 06/02/16 06:20 AM

We want to let you know that "rumors of a new market meltdown" are not based on any reputable data. As proof, we offer you the comments of the following experts who have a totally different view on the current housing market.
Lawrence Yun, Chief Economist at NAR:"In spite of deficient supply levels, stock market volatility and the paltry economic growth seen so far this year, the housing market did show resilience and had its best first quarter of existing-sales since 2007."
Jonathan Smoke, Chief Economist at realtor.com:"We had a triple crown of April home sales reports, so 2016 is in … (0 comments)

real estate news: Millennials: Rent or Own a Home? And "Mr. Wonderful's" thoughts... - 02/05/16 04:29 AM

Recently, on CNBC’s Closing Bell, Shark Tank investor Kevin O’Leary, also known as “Mr. Wonderful,” said Millennials “don’t give a poo-poo about owning a house.” This thinking couldn’t be further from the truth. Let’s give a few examples to make this point. 1.) In the recent National Housing Market Survey conducted by Fannie Mae, it was revealed that:
“…data indicates that millennial renters today have as much desire to own a home as the general population of renters. According to NHS data, the substantial majority of renters age 25-34 say that owning makes more sense than renting from a financial perspective. A majority also agree that owning makes … (2 comments)

real estate news: Thinking of Buying? What are you waiting for? Read me :) - 02/23/15 04:29 AM

If you are planning on becoming a homeowner, or moving up to the home of your dreams in 2015, here are four great reasons to consider buying a home now, instead of waiting until spring.
1. Prices Will Continue to Rise The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 11.7% (most pessimistic) and 27.5% (most optimistic). The bottom in home prices has come and gone. Home values will continue to appreciate for … (0 comments)

real estate news: 2015: A Year of Housing Opportunity - 02/17/15 04:06 AM

Many believed that when the housing market crashed, so too would the desire of American’s to own a home again. Many reports have shown that, especially among younger generations, the American Dream of homeownership is still very much alive. Julián Castro, Secretary for HUD, recently summed up what it means to own a home in a speech at the National Press Club.
"Homeownership is still the cornerstone of the American Dream — a fact you can see in the lives of everyday folks. It’s a source of pride. It’s a source of wealth, providing both a nest and a nest egg. And it … (0 comments)

real estate news: Net Worth: A Homeowner’s is 36x Greater Than A Renter! - 02/12/15 08:23 AM

Over the last six years, homeownership has lost some of its allure as a financial investment. As homeowners suffered through the housing bust, more and more began to question whether owning a home was truly a good way to build wealth. Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups.
Some of the findings revealed in their report: § The average American family has a net worth of $81,200
§ Of that net worth, 61.4% ($49,856) of it is in home equity
§ A homeowner’s net worth is over 36 times greater than … (0 comments)

real estate news: NAR 2014 Homebuyer and Seller Generational Trends Study - 09/14/14 11:00 PM

According to a recent National Association of REALTORS® (NAR) study, Generation Y (born 1980-1995) — sometimes called Millennials or Generation Next — make up the largest share of homebuyers (31%) in the U.S. They also make up the smallest number of home sellers (12%). Generation X (born 1965-1979) is the second-largest group of homebuyers (30%) and the largest group of home sellers (29%).
The NAR report breaks down the large Baby Boom Generation into two groups. Those born 1955-1964 accounted for 16% of home purchases, while those born 1946-1954 were responsible for 14% of home purchases. The Silent Generation (born … (1 comments)

real estate news: Unemployment Rate Rises - 02/01/13 05:27 AM

 
 
In a week packed with big economic news, investors feared that the trend toward higher mortgage rates seen this month would continue. The risk that the Fed might signal a scaling back of its MBS purchases concerned investors. In the end, though, a neutral Fed statement and an unexpected increase in the Unemployment Rate allowed mortgage rates to reverse early increases and end the week with little change.
 
Wednesday's Fed statement was very similar to the statement issued after its December meeting. Concerning its MBS purchase program, the intention stayed the same, meaning that the Fed will … (0 comments)

real estate news: FHA TAKES ADDITIONAL STEPS TO BOLSTER CAPITAL RESERVES - 02/01/13 04:49 AM
WASHINGTON – As part of a broad effort to strengthen the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund (MMI Fund), FHA Commissioner Carol Galante announced a series of changes to be issued this week that will allow the agency to better manage risk and further strengthen the health of the MMI Fund.
“These are essential and appropriate measures to manage and protect FHA’s single-family insurance programs” said Galante.  “In addition to protecting the MMI Fund, these changes will encourage the return of private capital to the housing market, and make sure FHA remains a vital source of affordable and sustainable … (0 comments)

real estate news: December 2011 Real Estate Newsletter - 12/28/11 10:12 AM
One of the key drivers of homes sales, the employment rate, is beginning to show promising signs of a turnaround. The four-week average for jobless claims, as of November 19, was 394,250, a drop of 3,250 from the previous four weeks, and at the lowest levels since April. Consumer confidence also rose 15 points in the last month, and is now at its highest point since July of this year. Eric Green, Chief Market Economist at TD Securities Inc. said, “The trend remains very constructive. Jobless claims are back below 400,000, which seems to be the pivot point in terms of … (0 comments)

 
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Rummy Dhanoa

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