2012 was the year that the U.S. housing market began its long-awaited recovery. Will the recovery continue in 2013, or will we see another setback? And what are the implications for real estate professionals—especially those who specialize in distressed properties? Most economists and market analysts agree that the housing market turned the corner in 2012 and was in the early stages of a recovery. All the metrics were pointing in the right direction: housing starts were increasing;

Fannie Mae and Freddie Mac completed more than 134,000 foreclosure prevention actions in the third quarter of 2012, bringing the total foreclosure prevention actions to more than 2.5 million since the start of conservatorship in 2008 with nearly 1.3 million of those actions being permanent loan modifications. These actions, which ...

Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing mortgage rates largely unchanged from the previous week helping to keep homebuyer affordability high, refinancing strong and should continue to aid the ongoing housing recovery. Results showed that the 30-year fixed-rate mortgage (FRM) averaged 3.38 percent with an average 0.7 point for the week ending January 17, 2013, down from last week when it averaged 3.40 percent. Last year at this time, the 30-year FRM averaged 3.88 percent.

December 2012 home prices are expected to rise by 7.9 percent on a year-over-year basis from December 2011 and fall by 0.5 percent on a month-over-month basis from November 2012 reflecting a seasonal winter slowdown, CoreLogic said recently. Excluding distressed sales, December 2012 house prices are poised to rise 8.4 percent year-over-year from December 2011 and by 0.7 percent month-over-month from November 2012, according to the CoreLogic Pending HPI.

Even though the time it takes to sell a luxury property has increased to as long as 260 days in Chicago, 287 in Miami and 197 nationally, overall, fewer sellers are cutting prices. Wintertime sluggishness has slowed luxury markets across the nation. Days on market have been increasing in nearly every major market tracked by the Institute for Luxury Home Marketing, and inventories are at a seasonal low, down from 27,600 properties in June to 18,400 in January. Rather than falling with the end of the summer buying season, low inventories have placed upward pressure on prices, which have risen from a median of 1.11 million in September to 1.23 in January, according to ILHM data.

The national housing market made a strong rebound in 2012 and that positive trend is expected to continue in the New Year, according to RE/MAX Co-Founder and Chairman Dave Liniger. His 2013 Top 10 Predictions are revealed in a video presentation released recently. ...

I have made the point over the past couple months that our mobile devices have taken over as the primary consumer search tool for most of us and will take over for the rest of us in the near future. Yes, many of us still have a desktop computer that we use for work, to create documents, presentations and do research. However, when the work day is done, we immediately switch to our mobile devices—smartphones and tablets—for all our consumer-searching needs. Why wouldn’t we? It’s far more convenient and comfortable to sit on our couch, recliner or at our dining room table with our smartphone or tablet than it is to sit at those same places with our laptop. According to Nielsen, a recent study found that 85 percent of smartphone/tablet owners use their device while watching TV

Regional Spotlight—MLSListings, a full spectrum MLS service organization that provides industry leading MLS services and technology to real estate professionals in California, has announced that Silicon Valley single family inventory continues its drop from December 2011 levels with Santa Clara County down 57 percent and San Mateo County following closely ...

The latest FNC Residential Price Index™ (RPI) shows that the recovery of U.S. property values has continued through November—the ninth consecutive month of price gains driven largely by rising homes sales and moderate economic growth. An imbalance between rising demand and limited supply continues to be an important factor for sustained price momentum. While signs of market recovery have instilled confidence and driven up demand as potential homebuyers take advantage of low prices, the supply of homes for sale has been constrained due to rising homeowners’ expectations about a continued price increase in many fast-rising markets.

With 11 months of data reported, 2012 will clearly go down as a record year for favorable housing affordability conditions, and a great year for buyers who could get a mortgage, according to the National Association of REALTORS®. NAR's national Housing Affordability Index stood at 198.2 in November, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power; recordkeeping began in 1970. An index of 100 is defined as the point where a median-income household has exactly enough income to qualify for the purchase

As reports and news continue to surface from holiday season 2012, there is no shortage of evidence to support the ever apparent shift of consumers to mobile devices. In a report from Reuters released

(MCT)—QUESTION: I am trying to sell my home but am not getting any showings. I’m thinking about allowing a buyer to finance it through me. Is this a good idea? —Suzanne ANSWER: It certainly can be, depending on your situation. If you own the property free and clear of any mortgage loans, financing the transaction for the buyer yourself has its advantages. But you’ll need to take precautions to protect your interests. This sort of arrangement can help attract a deeper pool of prospective buyers who have temporary financial issues. You can finance the property for your buyer at an interest rate much higher than any bank will pay you for storing your money.

Hilary Lists Swanky Pad In between shooting her two newest films—“Mary & Martha” and “You’re Not You”—Hilary Swank has recently listed her L.A. home for just shy of $10 million. The super-luxe, three-story Mediterranean-style home, built in 1928, features six bedrooms, 6.5 bathrooms and swoon-worthy ocean views. Despite being located in the mild Pacific Palisades, the property includes six fireplaces, and the RIS staff has been dreaming about the dinner parties that may have been held in the massive dining room with seating for 20. Other classy amenities include a home theatre, wine cellar, gym and maid’s quarters.

The Consumer Financial Protection Bureau (CFPB) has formally released its qualified mortgage (QM) definition and Ability-to-Repay rule, and financial organizations across the board are responding. In a recently released statement, the Independent Community Bankers of America (ICBA) noted that it is encouraged that the Consumer Financial Protection Bureau’s (CFPB) final rule on consumers’ ability

With the market picking back up, many new buyers are entering the fold. For some, the appeal of a massive home with all of the latest bells and whistles