Showing posts with label Don't Hang Back. Show all posts
Showing posts with label Don't Hang Back. Show all posts

Wednesday, February 20, 2013

The Beat Goes On


The beat goes on!!!!

 Jim Belote's Mortgage Matters shares again the threat to "the bottom of market" wait it out buyers.   

                          YOU MISSED IT!!!

The notes below relate again the reduction in foreclosures, the tightness of inventory and the increase in mortgage rates.  I totally
agree that buyers will, in the future, face the double whammy of higher home values and higher payments.

 Sellers:  Be jumping for glee...it is time to put your house on the
             MARKET!





Keeping you updated on the market! For the week of 
February 18, 2013
MARKET RECAP
Is the End Upon Us? We hope so, and the evidence suggests that it is.
This is a good thing, because we are referring to the national foreclosure crisis, which has weighed on the housing recovery (at least it did through mid-2012). RealtyTrac reports that the number of homes in various stages of foreclosure is down to the lowest level since the housing bubble burst.
For most of 2012, we said that the overhang of foreclosures and distressed properties would dissipate. Our rationale was that the issues were well-known and understood. Market participants would actively address the issues, and thus, would rectify them.

That's exactly what's occurred (and is occurring). RealtyTrac also reports foreclosure starts fell to a 79-month low, reaching levels not seen since June 2006. 

We expect foreclosures to continue to trend lower. TransUnion finds that the rate of borrowers 60 days or more past due on a mortgage dropped 14%, the largest reduction since the recession ended in mid-2009. Just as encouraging, many of the delinquencies are a result of older vintage loans – borrowers who haven't made payments for an extended time – and are inflating the overall delinquency rate.

We expect housing construction to continue along its trend as well. For-sale inventory – both existing and new – is at a decade low (and possibly a multi-decade low). This points to a rise in construction activity. In fact, Goldman Sachs expects real residential investment to grow at a 10%-to-15% annual rate through 2014. This means we'll also likely see a surge in housing-related employment. Goldman's economic models point to 25,000 new housing-related jobs being formed each month for the next two years.
So the stage is set for an uptick in economic growth. This means mortgage lending rates will be pressured to move higher, thus continuing a trend started last fall.

We look for higher rates because as the economy improves more money will flow out of fixed-income investments – Treasury and mortgage-backed securities – and into riskier investments. We've already seen a surge in stock-market investments. Both the Dow Jones Industrial Average and the S&P 500 are up strongly over the past three months.

The counter argument states that mortgage rates will remain subdued because of the current battle in Congress over sequestration and spending cuts. In other words, market uncertainty is rising, which means investors will be motivated to seek shelter in Treasury and mortgage-backed securities.
This might happen, but its impact would be ephemeral. This big-picture view points to economic growth. Economic growth and continued strength in housing will also force the Federal Reserve to exit its open-ended policy of quantitative easing sooner than expected.

The bottom line is that anyone who can benefit from a refinance or a purchase loan should take advantage of today's rates. The risk/reward paradigm strongly lists toward taking action; it makes little sense to procrastinate at this point.

Economic
Indicator
Release
Date and Time
Consensus
Estimate
Analysis
Home Builders' Index
(February)
Tues. Feb. 19,
10:00 am, ET
48 Index
Important. Rising sentiment is reflective of strong pricing and rising consumer demand.
Mortgage Applications
Wed., Feb. 20,
7:00 am, ET
None
Important. Record-low inventory is limiting purchase-application activity.
Housing Starts
(January)
Wed., Feb. 20,
8:30 am, ET
918,000 (Annualized)
Important. The rate of starts is expected to accelerate through 2013.
Consumer Price Index
(January)
Thurs., Feb. 21,
8:30 am, ET
All Goods: 0.1% (Increase)
Core: 0.2% (Increase)
Important. The current trend in consumer-price inflation is a non-factor to interest rates.
Existing Home Sales
(January)
Thurs., Feb. 21,
10:00 am, ET
4.85 Million (Annualized)
Important. Low inventory continues to retard sales growth.

Money and Consequences
Over the past four years, the Federal Reserve has pumped an unprecedented amount of money into the banking system, which is one reason interest rates have remained so low for so long.

This new money has also found its way into many investment assets: Today, the S&P 500 and Dow Jones Industrial Average are at multi-year highs; oil continually hovers near $100/barrel; many metal commodities are near all-time highs, as are many food commodities; gold remains near its all-time high and continues to adhere to its decade-long price trend.

More money has also been funneled into housing, especially from institutional investors. Hedge funds are large buyers of single-family houses, which is a new phenomenon. Interest among these institutions appears to be growing. American Homes 4 Rent , a California-based firm specializing in single-family rentals, recently purchased 10,000 homes, making it the second-biggest owner of single-family rentals in the institutional space.

The point we need to emphasis is that more money flowing into housing from institutional investors means there will be fewer values available to individual owner-occupied buyers. We've been warning over the past year that the pool of good deals is evaporating. It's important to let clients know that the rate of evaporation is accelerating.


Posted by at No comments:
Labels: , , , ,

Friday, February 8, 2013

Amazing: Interest Rates Since 2009

You may have missed this chart in yesterday's blog.  I just had to pull it out. 

 Do you see how the interest rates have fallen steadily, with a few modest interruptions from 5.25% range in 2009 to 3.35% as of 
December 2012.

 Though we have seen a modest increase in interest rates, doesn't this make you wonder why you or anyone needing, thinking about, hoping for a new place wouldn't have been out in the past 18 months grabbing rates under 4%????  

 Those 5% rates are in anyway bad but 4% and under for this long??

It is truly time to act or to miss out!!!




Posted by at No comments:
Labels: , ,

Tuesday, January 8, 2013

http://www.roseandwomble.com/Blog/post/December-2012-Local-Real-Estate-Market-Report.aspx

Knowing the Market is so key to buying and selling a home.

 Though there are many posts on the national market, you can always find the top news on Hampton Roads right here.

 Being aligned with Rose & Womble provides me this wonderful look at December 2012 for our area.  

 Read and enjoy


DECEMBER 2012 LOCAL REAL ESTATE MARKET REPORT

By Drose7. January 2013 10:14

Read this article in your language IT | EN | DE | ES


During the past 12 months 19,535 homes have sold, an 9% increase from the previous 12 month
period. Sales in November were 14% higher than during the same month a year ago.



All indicators continue to point to a housing market recovery.
Inventory is 30% lower than it was 2 years ago and at levels not seen since before the
housing boom. In addition, prices continue to stabilize and 
interest rates are at historically low levels.
further evidence of a stabilizing in prices.

Even though the winter months are historically a slower time for real estate sales, 
the absorption rate, or months supply of inventory, continues to fall across the board. 
Comparing inventory levels from May 2011 to now highlights how much the market has 
changed. In only 18 months, the market has shifted from a buyer’s to seller’s market 
across wide sections and ever higher price points in Hampton Roads. 
*Market Data courtesy of REIN, analysis by Rose and Womble. Deemed accurate but not guaranteed. Copyright 2012 All Rights Reserved
Bookmark and Share
Be the first to rate this post
Tags: , , 
Real Estate
Permalink | Comments (0)

About the author

Denise Rose
Director of Marketing

Past Articles

Page List










    http://www.roseandwomble.com/Blog/post/December-2012-Local-Real-Estate-Market-Report.aspx
    Posted by at No comments:
    Labels: , , , , , ,

    Saturday, December 29, 2012

    Local and National Real Estate Market Update






    Bryan Cerny
    Rose & Womble Realty
    757-580-6546   
    300 Cedar Lakes Drive, Chesapeake, VA 23322 
    Phone: 757-580-6546     Fax: 757-390-3468   
    Home  |Value of Your Home  |Real Estate Glossary
    DECEMBER - 2012 Newsletter
    Share
    Housing Trends eNewsletter is filled with U.S. Census Bureau key market indicators, consumer videos, blogs, a real estate glossary, mortgage rates and calculators, consumer articles, real estate radio, REALTOR.com local community reports and local and national real estate sales and price activity provided by local MLSs and the National Association of REALTORS®.
    What's Happening in Local Markets?
     Local Market Reports for 150 Metropolitan Housing Markets
    *Local Prices & State Sales
    *Prepared by National Association of REALTORS®
    **Prepared by Clarus MarketMetrics
      Local Area Markets in 25 States
    **Local Sales & Price Activity
    *Prepared by National Association of REALTORS®
    **Prepared by Clarus MarketMetrics

    Community Reports on REALTOR.com
    Enter a ZIP code to view a report. For a comparison report, enter a second ZIP.
    Compare Community AmenitiesCompare Community Statistics
    * Shopping and Groceries
    * Public Services
    * Places of Worship
    * Recreation and Leisure
    * Food and Drink
    * Population
    * Households
    * Education
    * Housing
    * Transporation    		* Income
    * Employment
    * Net Worth
    * Cost of Living
    * Climate
    Source: REALTOR.com
    Bryan Cerny

     Home Ownership matters…to people, to communities, and to America. Why? • For every two homes sold, one job is created in the U.S. • Each purchase generates as much as $60,000 in economic activity over time. more...

     Buying is now cheaper than renting in 74 percent of the nation’s largest cities. Low home prices and “rock-bottom” interest rates as well as tax advantages of homeownership are the reasons why it’s now cheaper to BUY a 2-bdrm home than to rent one. Check out this CNN Money article with the details. more...
    Disclaimer: The views, opinions, statements and/or ideas expressed in this Message Section do not reflect the ideas, policy, position, views or opinion of eFrogPond,Inc.


    National Real Estate Market Update
    November Existing-Home Sales & Prices Maintain Uptrend
    WASHINGTON (December 20, 2012) - Existing-home sales continued to improve in November with low inventory supply pressuring home prices, according to the National Association of Realtors®. More...

    National Real Estate Market Articles    Source:NATIONAL ASSOCIATION OF REALTORS®.


    November 2012 Existing Home Statistics
    Source: NATIONAL ASSOCIATION OF REALTORS®.
     View Prices / % Changes for 159 Cities 
     & Metropolitan Areas
         Housing Affordability Index |  Click Here to view details
     Mouse over the map to view
    Regional Definitions

      National Existing Home Sales [View Detail]
      National Sales Price of Existing Homes [View Detail]
      Existing Home Sales [View Detail]
      Sales Price of Existing Homes [View Detail]
      Existing Single Family Home Sales [View Detail]
      Sales Price of Existing Single-Family Homes [View Detail]
      Existing Condo/Co-op Sales [View Detail]
      Sales Price of Existing Condo/Co-op Homes [View Detail]
    Source: NATIONAL ASSOCIATION OF REALTORS®.
    Daily Real Estate Market Outlook
    Economists' Commentaries provide an in-depth look at trends and current news related to housing and the real estate market.   Click here



    Consumer Tips & Cool Properties
    Recycling Your Christmas Tree
    Julie Day, TodaysHomeowner.com, provides green solutions to recycling your Christmas tree. More...
    Holiday Left Scuffed Countertops? Here's Easy 99 Cent Solution
    Holiday cooking can result in unsightly counter top scratches. Here's a quick, easy, and inexpensive remedy with the help of your local 99 Cent store. More...
    10 Tips to Survive Packing for Your Move
    Rick Hazeltime, shares 10 tips "culled from everyday people who gave their best advice in chat rooms and Internet forums" about how they survived moving day packing. More...
    Outfit Your Bed with Style
    Ginny Gaylor's bedroom Wow! Factor is simple with her guide to everything your need to know about bed coverings. More...
    Mortgage Rates

    Mortgage Calculator

    National
    Housing Indicators
    Existing Home Sales 
    (November)
    5.04 million units*
    Existing Home Median Price 
    (November)
    $180,600
    Housing Starts 
    (November)
    861,000 units*
    New Home Sales 
    (November)
    377,000*
    *seasonally adjusted annual rate 
    Source NATIONAL ASSOCIATION OF REALTORS®.
    National
    Economic Indicators
    Homeownership Rate
    3rd Qtr 123rd Qtr 11
    65.5%66.3%

    The homeownership rate in the third quarter 2012 (65.5 percent) was lower than the third quarter 2011 rate (66.3 percent). The homeownership rate in the South was lower than the corresponding second quarter 2011 rate, while the rates in the Northeast, Midwest, and West were not statistically different.
    New Home Sales
    Nov 12Oct 12
     
     
     
    +4.4%-3.5%

    Sales of new single-family houses in November 2012 were at a seasonally adjusted annual rate of 377,000. This is 4.4 percent (+/- 16.8%)* above the revised October 2012 estimate of 361,000.
    Source U.S. CENSUS BUREAU

    Alabama Housing Trends
    Alabama Real Estate Market
    Alabama Housing Market    		Alaska Housing Trends
    Alaska Real Estate Market
    Alaska Housing Market    		Arizona Housing Trends
    Arizona Real Estate Market
    Arizona Housing Market    		Arkansas Housing Trends
    Arkansas Real Estate Market
    Arkansas Housing Market    		California Housing Trends
    California Real Estate Market
    California Housing Market
    Colorado Housing Trends
    Colorado Real Estate Market
    Colorado Housing Market    		Connecticut Housing Trends
    Connecticut Real Estate Market
    Connecticut Housing Market    		Delaware Housing Trends
    Delaware Real Estate Market
    Delaware Housing Market    		District of Columbia Housing Trends
    District of Columbia Real Estate Market
    District of Columbia Housing Market    		Florida Housing Trends
    Florida Real Estate Market
    Florida Housing Market
    Georgia Housing Trends
    Georgia Real Estate Market
    Georgia Housing Market    		Hawaii Housing Trends
    Hawaii Real Estate Market
    Hawaii Housing Market    		Idaho Housing Trends
    Idaho Real Estate Market
    Idaho Housing Market    		Illinois Housing Trends
    Illinois Real Estate Market
    Illinois Housing Market    		Indiana Housing Trends
    Indiana Real Estate Market
    Indiana Housing Market
    Iowa Housing Trends
    Iowa Real Estate Market
    Iowa Housing Market    		Kansas Housing Trends
    Kansas Real Estate Market
    Kansas Housing Market    		Kentucky Housing Trends
    Kentucky Real Estate Market
    Kentucky Housing Market    		Louisiana Housing Trends
    Louisiana Real Estate Market
    Louisiana Housing Market    		Maine Housing Trends
    Maine Real Estate Market
    Maine Housing Market
    Maryland Housing Trends
    Maryland Real Estate Market
    Maryland Housing Market    		Massachusetts Housing Trends
    Massachusetts Real Estate Market
    Massachusetts Housing Market    		Michigan Housing Trends
    Michigan Real Estate Market
    Michigan Housing Market    		Minnesota Housing Trends
    Minnesota Real Estate Market
    Minnesota Housing Market    		Mississippi Housing Trends
    Mississippi Real Estate Market
    Mississippi Housing Market
    Missouri Housing Trends
    Missouri Real Estate Market
    Missouri Housing Market    		Montana Housing Trends
    Montana Real Estate Market
    Montana Housing Market    		Nebraska Housing Trends
    Nebraska Real Estate Market
    Nebraska Housing Market    		Nevada Housing Trends
    Nevada Real Estate Market
    Nevada Housing Market    		New Hampshire Housing Trends
    New Hampshire Real Estate Market
    New Hampshire Housing Market
    New Jersey Housing Trends
    New Jersey Real Estate Market
    New Jersey Housing Market    		New Mexico Housing Trends
    New Mexico Real Estate Market
    New Mexico Housing Market    		New York Housing Trends
    New York Real Estate Market
    New York Housing Market    		North Carolina Housing Trends
    North Carolina Real Estate Market
    North Carolina Housing Market    		North Dakota Housing Trends
    North Dakota Real Estate Market
    North Dakota Housing Market
    Ohio Housing Trends
    Ohio Real Estate Market
    Ohio Housing Market    		Oklahoma Housing Trends
    Oklahoma Real Estate Market
    Oklahoma Housing Market    		Oregon Housing Trends
    Oregon Real Estate Market
    Oregon Housing Market    		Pennyslvania Housing Trends
    Pennyslvania Real Estate Market
    Pennyslvania Housing Market    		Rhode Island Housing Trends
    Rhode Island Real Estate Market
    Rhode Island Housing Market
    South Carolina Housing Trends
    South Carolina Real Estate Market
    South Carolina Housing Market    		South Dakota Housing Trends
    South Dakota Real Estate Market
    South Dakota Housing Market    		Tennessee Housing Trends
    Tennessee Real Estate Market
    Tennessee Housing Market    		Texas Housing Trends
    Texas Real Estate Market
    Texas Housing Market    		Utah Housing Trends
    Utah Real Estate Market
    Utah Housing Market
    Vermont Housing Trends
    Vermont Real Estate Market
    Vermont Housing Market    		Virginia Housing Trends
    Virginia Real Estate Market
    Virginia Housing Market    		Washington Housing Trends
    Washington Real Estate Market
    Washington Housing Market    		West Virginia Housing Trends
    West Virginia Real Estate Market
    West Virginia Housing Market    		Wisconsin Housing Trends
    Wisconsin Real Estate Market
    Wisconsin Housing Market
    Wyoming Housing Trends
    Wyoming Real Estate Market
    Wyoming Housing Market
      
     If you wish to receive FREE Housing Trends eNewsletter e-mailed to you monthly, click here to Subscribe.
    Click here to Unsubscribe.        Copyright© 2009-2012, eFrogPond Inc. All Rights Reserved. 

    Information contained in this eNewsletter is compiled from a variety of sources. The accuracy and authenticity has not been verified by eFrogPond, Inc., is subject to change, is provided "as is" and is not guaranteed. The views expressed herein do not necessarily reflect those of eFrogPond, Inc. eFrogPond, Inc. makes no representations or warranties of any nature with regard to the privacy and/or business practices of the websites linked from or to this eNewsletter nor the accuracy and authenticity of any information contained in such websites, and is not responsible for any content contained in any linked site or for any action or lack of action by any linked site whatsoever, including their use of any information they may collect.
     
     
    Site administration: Dologix Technologieshttp://frogpond.us1.list-manage.com/track/click?u=fac30d46206a60db6450c1f96&id=47b9da3af5&e=9fa7c5e6b3http://www.realtor.org/news-releases/2012/10/november-existing-home-sales-and-prices-maintain-uptrend
    Posted by at No comments:
    Labels: , , , , , , , ,
    Subscribe to: Posts (Atom)