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Finance, Economy & Government Issues Archive


Hottest Market Sales Going for a Premium over List Price

How long has it been since you heard the words “sold at a premium over list price?” For the past six years, sales prices ended up somewhere south of list prices by at least five percent. Now, in the markets where the recovery is hottest, sellers are increasingly experiencing multiple ...


January Existing-Home Sales Hold with Steady Price Gains, Seller’s Market Developing

Existing-home sales edged up in January, while a seller's market is developing and home prices continue to rise steadily above year-ago levels, according to the National Association of REALTORS®. Sales rose in every region but the West, which is the region ...


Nationwide Housing Affordability Increases at Year-End 2012

Exceptionally low interest rates helped ensure a slight gain in nationwide housing affordability amid relatively stable house prices in the final quarter of 2012, according to the National Association of Home Builders Index (HOI), released recently. ...


Housing Starts Down on Typical Multifamily Volatility; Permits Hit Four-Year High

Due to a double-digit dip on the typically volatile multifamily side, nationwide housing starts declined 8.5 percent to a seasonally adjusted annual rate of 890,000 units in January, according to newly released data from HUD and the U.S. Census Bureau. Meanwhile, issuance of permits for new-home construction rose 1.8 percent ...


Housing Continues to Gain Ground

Although the economy seems to be transitioning to a slightly stronger growth path, unresolved fiscal policy decisions pose significant headwinds in early 2013, according to Fannie Mae's Economic & Strategic Research Group. Increased taxes and reduced government spending will keep growth ...


FNC Report: Housing Recovery Takes Hold for the Long Haul

Though home foreclosures continue to be a challenge in many hard-hit markets, a report released this week by mortgage technology company FNC indicates the ongoing housing recovery should continue for the long haul. ...


Fannie Mae Announces New HomePath for Short Sales Escalation Process

Fannie Mae recently introduced an expanded HomePath for Short Sales tool to resolve short sale challenges. The tool, a new short sale escalation process, is open to any real estate professional working on a short sale involving a Fannie Mae-owned loan. Once a case is escalated, Fannie Mae will directly ...


January Housing Update: Nothing Left to Buy in Silicon Valley?

Regional Spotlight-- Median home-sale price continues to grow by double-digits in the Bay Area of California, but with such a shortage of inventory and fewer new listings, there soon may be nothing left to buy. ...


Realogy Reports Financial Results for Full Year 2012

Realogy Holdings Corp., a global leader in residential real estate franchising and provider of real estate brokerage, relocation title and settlement services, has reported financial results for the fourth quarter and full year ended December 31, 2012, including the following: ...


Consumer Sentiment Revised Up, But Confidence Falls on Expectations of Lower Income

Indicators of consumer confidence were mixed in the first month of the new year. Thomson Reuters and the University of Michigan reported that its final estimate of consumer confidence, Consumer Sentiment, rose by 1.2 percent on a seasonally adjusted monthly basis in January to 73.8. The final reading was revised ...


Real Estate Q&A: Banks Cut Back on Lending for Co-Ops

(MCT)—QUESTION: I bought a co-op apartment unit in January 2010 with a conventional mortgage. I am trying to refinance it and have found that big banks are not willing to work with me. Can you please explain what’s happening here? ...


HUD Announces First Round of Allocations of Hurricane Sandy Recovery Funds

The Department of Housing and Urban Development recently allocated $5.4 billion in Community Development Block Grant (CDBG) Disaster Recovery funding to five states and New York City, representing the first round of CDBG grants from the Disaster Relief Appropriations Act of 2013 signed into law by President Obama on January ...


As Inventories Shrink, So Do Seller Concessions

With inventories down and prices up, sellers are ending the costly incentives they have been forced to offer buyers during the six-year long buyers’ market. Concession-free transactions make deal-making simple on both sides of the table. ...


Home Prices in 2012: Best Year-on-Year Gain in Six Years

CoreLogic®, a leading residential property information, analytics and services provider, recently released its December CoreLogic HPI® report. Home prices nationwide, including distressed sales, increased on a year-over-year basis by 8.3 percent in December 2012 compared to December 2011. This change represents ...


Will Shadow Inventory Come to Light in 2013?

(MCT)—It's called “shadow inventory,” and it could halt or reverse a recovering housing market. That's why the phrase, which describes homes in some form of distress but not yet on the market, popped up during the Q&A segment of the Charleston Trident Association of Realtors sales forecast last week. ...


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