housing market: Hot Housing Markets are Becoming More Affordable - 12/07/14 09:45 PM
Third quarter findings show that although the median home price ticked up to $221,000 from 2014's second quarter price of $214,000, buying a home is still an attainable prospect for over 61 percent of Americans. In early November, the National Association of Home Builders Chairman, David Kelly observed, "Low mortgage rates, strong job growth and affordable home prices make this a good time to buy a home." In fact, some of the country's hotter metro markets have also become more affordable.
As reported on the website, Interest.com which is operated by Bankrate, Minneapolis ranks number one for home affordability. To arrive at … (0 comments)

housing market: Buyer Confidence Rising Along With Housing Demand and Rent Prices - 06/09/13 11:33 PM
Things in the real estate world are moving up, up, up! Not only have home values continued to increase across the nation, but buyer confidence and housing demand has also gotten a boost in recent months. Not surprisingly, the lack of available real estate inventory has pushed home prices (and rent prices) to levels not seen in quite some time. These changes have all contributed to a rapidly shifting real estate landscape in which buyers are scrambling for homes, landlords are experiencing a rental boom and more and more Americans are feeling good about entering the market. 
According to the April … (0 comments)

housing market: More Buyers Willing to Enter Market Nationwide & Other Newsy Stuff - 05/13/13 06:11 AM
California and Texas Noted for Economic Improvements; More Buyers Willing to Enter Market Nationwide
As most Americans are aware, the U.S. economy is experiencing significant recovery, with improvements in real estate pulling us out of the Great Recession and into an exciting new economic landscape. Despite early skepticism, now even the most cautious of critics are starting to breathe a sigh of relief as housing markets begin to thrive and consumer confidence increases.
Central California Home Sellers In Prime Position
American Financial Resources, a leading national mortgage provider, recently published several stories highlighting these impressive economic changes. One such story highlighted the central California … (0 comments)

housing market: Reluctant "Move Up Buyers" May Slow Housing Recovery - 09/24/12 10:54 PM
Considering the current record low interest rates and high affordability of real estate due to lower home values, the housing market should be booming. Instead, NAR recently reported that the inventory of for sale homes is down 24% from July 2011. Many real estate pros feel that this drop is due to the stalemate position of move-up buyers. The move-up buyers are those who bought homes with plans of "moving up", and now find themselves in a negative equity situation. Many that fall into that category also fall between the cracks when it comes to finding help from either a mortgage … (22 comments)

housing market: Mortgage Applications Slow While Home Sales Rise - 08/22/12 04:54 AM
Slight increases in mortgage rates in recent weeks have led to a drop in refinancing activity. The Mortgage Bankers Association reported in its weekly survey that for the week ending August 17th, 2012 mortgage applications were down 7.4 percent when compared to the previous week. The decrease is largely due to fewer homeowners refinancing existing mortgage loans.
Purchase mortgage activity was less affected by the small rise in interest rates, and the seasonally adjusted Purchase Index (which measures the volume of loan applications) dropped only 0.9 percent from the week before, compared to an 8 percent drop in the Refinance Index.

housing market: Single-family housing production on the rise - 08/13/12 04:22 AM
Production rates for single-family housing increased for the third consecutive month, according to data from HUD and the Census Bureau. In addition to an increase in single-family housing, the data also revealed an increase in pulled permits for both single- and multi-family construction in May.
The pace of new home construction hasn't been this good since December 2011, according to a recent press release by the National Association of Home Builders (NAHB). Data from the HUD and Census Bureau revealed that the seasonally adjusted annual rate of single-family housing starts rose 3.2 percent to 516,000 units - an impressive leap considering … (0 comments)

housing market: Affordable Housing Conditions Show Improvement - 03/12/12 05:28 AM
According to recent data from the National Association of Realtors (NAR), affordability conditions are improving, as housing markets across the country are beginning to make a comeback. 
This trend is thought to be bolstered by lower existing home prices as well as record low interest rates. According to a recent market trend publication distributed by the NAR, median prices for existing single-family homes lowered in 118 metro areas and as a result, reflected greater homes sales activity at lower price points. 
Sales of lower-priced homes showed a strong increase compared to one year ago, providing a good market environment for affordable … (0 comments)

housing market: Mortgage Applications Fell Slightly Last Week - 03/12/12 05:18 AM
Mortgage application activity declined slightly in the week ending March 2, despite home purchases picking up,an industry group said recently.
The MBA's seasonally adjusted index of refinancing applications was down 2.0 percent that week; however, loan requests for home purchases rose 2.1 percent.
According to the MBA, the 1.2 percent drop in mortgage application activity is due to a slowing demand for refinancing, which is included in the industry group's calculations. Low interest rates could also be attracting new buyers to the market, as 30 year fixed rate mortgages averaged 4.06 percent that same week.
Below are last week's … (0 comments)

Shaun Hamman (American Financial Resources)

Shaun Hamman

Parsippany, NJ

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American Financial Resources

Address: 9 Sylvan Way, Parsippany, NJ, 07054

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