real estate: Homes Are Selling Faster
- 10/23/12 04:55 AM
Inventories of for-sale homes aren’t the only thing that is dropping. The amount of time homes are staying on the market is growing shorter as well—down 11 percent in the last year—according to the latest Realtor.com data. Homes were listed on average 95 days, according to September housing data. That is down from 107 days a year earlier. Homes are selling the fastest in Oakland, Calif., in which the median age of the inventory averages 21 days, which is 57 percent below what it was a year ago. Denver, Colo. boasts a median age of inventory of only 38 days, followed … (0 comments)
real estate: Homebuilders Grow More Confident About Recovery
- 10/18/12 01:20 AM
Builder confidence inched slightly higher in October, bringing it to its strongest level since June of 2006, according to the National Association of Home Builders/Wells Fargo Housing Market Index. The October gain also marks the sixth consecutive month for increases in the index, which measures builder confidence about the direction of the new-home market. "Many builders are reporting increases in the number of serious buyers visiting their sales offices, and the overall confidence measure is much higher than it was at this time last year," says Barry Rutenberg, NAHB Chairman. The monthly index measures builder perceptions of current single-family home sales, … (1 comments)
real estate: Buying Short Sale Properties are Safe? What are the Risks Associated?
- 10/17/12 02:00 AM
The questions frequently being asked today are buying short sale properties are safe? What are the risks associated? Currently a massive number of house owners are underwater – the worth of their units being less than the loan due amount. To avoid foreclosure the best option for them is to opt for a short sale. The lenders too are not eager to foreclose anymore; they are realizing that by agreeing to a short sale they lose less than if they opted for foreclosure. It is known as short sale because the amount agreed upon is short of the loan due amount. … (1 comments)
real estate: Evansville Real Estate News Letter for October 2012
- 10/15/12 03:07 AM
Market Watch We are three quarters of the way through the year, sold units through September are 5% ahead of last year and, the median sale price is up 3.3%. Sales this year have exceeded those in the corresponding month last year in 7 of 9 months. Unfortunately, September was one of those two months. I am confident that there is a valid reason for this decline. I have felt for a long time that contested Presidential elections have a short-term, negative impact on real estate sales. Earlier this month I saw a national survey that confirmed my thoughts. According to … (0 comments)
real estate: A Little Manager-Managing Goes a Long Way!
- 10/05/12 12:40 AM
Whether you are in the process of buying anincome property thisfall or are already an owner, your decision about whether to work with a localproperty manager is pivotal. When you lack the time or capacity to effectively manage your investment, hiring a professional property manager is certainly the right business move. But suppose you have already decided that you will use a pro – does that solve all management issues for your investment? If you have chosen well, the answer may be almost ‘yes’ – but not quite. As you would with any service provider, keeping tabs on their performance is … (0 comments)
real estate: Record Refi Rates Tempt Local Homeowners
- 10/04/12 02:31 AM
Getting a mortgage refinance has seldom looked more attractive than it does this October. Ads for seemingly ridiculously low teaser rates are popping up all over the place -- and even if the closing costs are hefty (many aren’t), the underlying rates make them all but irresistible. But do you qualify? Some folks don’t realize that a refi can be just as tough as getting a mortgage in the first place. Or tougher. One client has a stunning property, top credit, and a guaranteed income stream that was more than adequate to fund the refi. She put together all the required … (0 comments)
real estate: Builder Confidence Bounces Back to 2006 Levels
- 09/21/12 04:53 AM
Homebuilders haven’t been this confident about sales, the outlook of future sales, and buyer traffic since June 2006, which is right before the housing crisis took hold, a new index shows. For September, the National Association of Home Builders/Wells Fargo builder sentiment index, which measures builders’ outlook on current sales, future sales, and buyer demand, reached its highest level in six years. Plus, homebuilders expect the housing recovery to strengthen within the next six months. Homebuilders say they’ve experienced some of the best sales levels they've had in six years, and buyer traffic has returned to May 2006 levels, the index … (0 comments)
real estate: Home Sales: The New Normal is Normal!
- 09/19/12 02:45 AM
September is a transition time for almost everybody. Here inEvansville, the kids have shifted into school gear, adults have moved out of vacation mode, and businesses are already sprucing up for the (believe it or not) Holiday Season. Inreal estate, we are looking with more than casual interest at what’s going on nationally. Especially those measures that tend to affect Evansville home sales. The largest professional association in the country is our own National Association of Realtors®. At the beginning of the month, they broke another piece of welcome news. This one looks like the difference between ‘indicators’ of a strengthening … (0 comments)
real estate: Buying homes Feels Right Again
- 09/18/12 04:59 AM
The other day I read an opinion piece that I really couldn’t agree with. The writer expected a pause in the pace of the residential market upturn now that many of the most obvious bargains have been snapped up. He thought that was to be expected, and that a further rebound would be likely to follow. His idea was based on the notion that many otherwise well-qualified prospects – buyers who may have narrowly missed the bottom of the market -- would now be waiting for prices to fall again. They would only reappear once they realize that those super bargains … (0 comments)
real estate: Baby Boomers Shift Retiree Haven Preferences
- 09/17/12 02:59 AM
Retirees are increasingly flocking to cooler climates and smaller towns than sunny, southern havens in states like Florida or Arizona that generally are popular retirement hot-spots. Baby boomers are looking elsewhere, from Maine to Washington. "Boomers and retirees these days are considering a much wider range of destinations for retirement, often choosing states that don't commonly come to mind, such as Maine and Montana," says Mary Lu Abbott, editor of Where to Retire magazine. "Yes, the Sun Belt remains popular, but many people prefer a four-season climate and enjoy the changing of seasons. They seek towns that are safe and have … (2 comments)
real estate: Fed’s Latest Move Could Bode Well for Home Buyers
- 09/14/12 01:55 AM
The Federal Reserve announced Thursday that, in an effort to re-ignite economic recovery, it was taking aim at mortgage rates — a move that will likely take rates even lower from their current record lows. The Federal Reserve announced it will purchase $40 billion of mortgage-backed securities that will help boost the recovery in the housing market. What’s more, the central bank said that it will continue with the purchase program until the economy shows greater improvement, particularly with unemployment. "These actions, which together will increase the Committee’s holdings of longer-term securities by about $85 billion each month through the end … (0 comments)
real estate: Home Owners Who Shop More Save More
- 09/13/12 02:11 AM
Millions of Americans have refinanced their mortgages as rates have dipped to new lows. However, mortgage lenders say: If home owners had shopped around more, they probably could have snagged an even lower rate and more savings. Many borrowers settle on the first rate they're quoted, lenders say. LendingTree says that rates can vary by more than a percentage point for a borrower looking for a 30-year fixed loan. Mortgage Daily illustrates the loss to the customer in the following example: "A consumer with a credit score of 759 and a loan amount of $260,000 might have received quotes from lenders … (0 comments)
real estate: Your Curb Enthusiasm Sparks Home Sales
- 09/04/12 04:57 AM
Success in Evansville home sales depends on many factors -- and when your own home is the one that is being offered, you want to do the most you can with any factor you control Your home’s interior condition and design are likely to be the key considerations after a buyer has decided to make an offer. However, it’s the exterior – the view that initially catches potential buyers’ eyes – that can have a disproportionate impact on whether they get to that stage. Much of how they perceive the entire property will be influenced by that first impression. It’s the … (0 comments)
real estate: Pending home sales hit highest level in more than two years
- 08/31/12 02:04 AM
Pending home sales rose in July to the highest level in more than two years as the housing market continues showing sustained signs of recovery. The sales index, a forward-looking indicator based on contract signings, was up 2.4 percent to 101.7 last month, its highest level since April 2010, shortly before the expiration of a home buyer tax credit, the National Association of Realtors said Wednesday. The July figure is up 12.4 percent above the July 2011 level of 90.5. "While the month-to-month movement has been uneven, more importantly we now have 15 consecutive months of year-over-year gains in contract activity," … (1 comments)
real estate: Sellers Test Waters with Higher Asking Prices
- 08/30/12 12:39 AM
The latest industry reports are showing housing prices on the rise, and it has made more sellers want to raise their asking price, according to industry insiders. Shrinking inventories of for-sale homes with pent-up demand is allowing sellers to charge about 5 percent more than they could have just six months ago, Everett King, president of ERA King Real Estate in Birmingham, Ala., told USA Today. Real estate companies are reporting that sellers are having more luck with their higher asking prices, too. For example, in Tucson, Ariz., home sellers are getting 96 percent of their asking price on average, USA … (0 comments)
real estate: Why Home Prices Are Rising: The Distressed Share
- 08/29/12 12:21 AM
Tuesday’s measure of June home prices from the S&P/Case-Shiller 20-city index is likely to turn positive when compared with one year ago for the first time in two years, according to a forecast by Zillow Inc. Prices have risen this summer for a simple reason: more buyers have chased fewer properties. But the drop in supply and the boost in demand isn’t the only reason that Case-Shiller is now turning positive. Another related factor is that the share of non-distressed home sales is rising and the share of distressed sales—foreclosures and short sales, mostly—is falling. (Case-Shiller reports prices using a three-month … (0 comments)
real estate: Condominiums, Homes Lead Sales Growth
- 08/28/12 02:07 AM
As regular readers know, I keep track of the national media spin on real estate matters because our Evansville home sales often reflects the tone we all pick up from the feel of the wider market. So let’s not beat around the bush: again in July, the residential real estate picture continued its rise. It has been sensible to remain cautiously optimistic about the direction of things for a good long while, but at this juncture, it’s finally beginning to look like a trend has taken shape. “For the fifth consecutive month,” the Wall Street Journal reported in its news … (0 comments)
real estate: New Study Yields Change in Buying vs. Renting
- 08/27/12 01:16 AM
For everyone who rents (or leases) Evansville rental homes, it’s a choice that comes up every year: rent or buy. In addition to the common sense considerations everyone brings to that important decision, some financial measurements have been developed through the years that attempt to bring an element of rationality to a largely subjective decision. Actually penciling out an answer isn’t always satisfactory because it is literally impossible to quantify elements like peace of mind. To some who own their homes, there is great peace of mind in controlling their own destiny. To others, the worry of being responsible for a … (2 comments)
real estate: Evansville Homeowners Give Lawns Love & Attention
- 08/23/12 05:04 AM
Some of us have decided that life is too short to spend any time behind a lawnmower. Others decide that the real reason we have a mate is so that we can offer him or her the opportunity to get out in the fresh air and sunshine…to mow. Children can be the recipients of that very same opportunity, which will build character through hard work. Alternatively, a healthy lawn – especially a well-watered one in late August – provides an opportunity to keep the Evansville economy humming by employing a gardening service to keep it in top trim. But for those … (0 comments)
real estate: Evansville Real Estate News Letter for August 2012
- 08/22/12 04:46 AM
Market Watch This month’s Market Watch is about mortgage financing and how it affects the housing market. We all know that our country suffered a terrible recession just a few years ago. Although we don’t hear as much as we used to no one disputes that the primary cause of the recession was mortgage loan defaults caused by lending standards that were far too lenient. The Federal Government, primarily through Fannie Mae and Freddie Mac not only loosened lending standards but in many instances mandated, through the guise of the Community Reinvestment Act, that mortgages be extended to unqualified buyers. In … (0 comments)
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The Trentini Team of F.C. Tucker EMGE REALTORS® provides exceptional service to each of their clients as they help them to achieve their real estate goals. With their knowledge, experience and background, both Kathy and Rolando bring one-of-a-kind perspectives to the table during all of their real estate transactions. Their excellent communication skills combined with their passion for real estate allows The Trentini Team to follow through every time with the highest level of service possible. Rolando and Kathy are your premier Evansville and Newburgh, Indiana real estate source. They can help you buy your dream home or sell your current home for the best price possible. To learn more about what The Trentini Team can do you for you, contact us today!
Inventories of for-sale homes aren’t the only thing that is dropping. The amount of time homes are staying on the market is growing shorter as well—down 11 percent in the last year—according to the latest Realtor.com data.
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