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Home Owner News Archive


Fannie Mae and Freddie Mac Help More Than 2.5 Million with Foreclosure Prevention Actions

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 ...


Mortgage Rates Mostly Flat

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.


CoreLogic: Prices Rose 7.9 Percent in 2012

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.


Luxury Sellers Hang Tough on Prices

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.


Top 10 Predictions for Housing in 2013

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. ...


Home Prices Up 0.3 percent in November; Price Increase Expected to Continue

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.


Housing Affordability Index to Set Annual Record for 2012

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


Real Estate Q&A: Seller Financing Can Help Sell Home

(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.


Great Spaces: Hilary Swank, Michael Strahan, and More

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.


Qualified Mortgage/Ability to Repay Rule: MBA and ICBA Supportive

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


Thinking Big, Living Small: Real Estate Magazine Explores the Micro-home Movement

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


Remodelers Forecast a Bright 2013

National Association of the Remodeling Industry’s (NARI) fourth-quarter Remodeling Business Pulse data of current and future remodeling business conditions has experienced significant growth


Builders Target Families with Multiple Generations under One Roof

(MCT)—Viewed from the street, the single-family home at the entrance to Lennar’s Traditions at Bella Casa community looks just like any of the homebuilder’s other models. Until you spot the second door. From the home’s porch, visitors have the choice of entering into the main home or a side door that leads to a 500-square-foot suite. The suite, which has all the amenities of a second private residence, is the latest—and most emphatic—attempt by a Triangle homebuilder to appeal to a growing demographic of buyers: those with multiple generations of family members living under one roof.


Study Shows More People Use Internet to Research Homes for Sale

Real estate-related searches on Google.com have grown 253 percent over the past four years, according to a joint study from the National Association of REALTORS® and Google. “These results parallel the trends shown in NAR’s economic research reports,” says NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif. “As home sales and prices continue to trend up, more people are regaining confidence to invest in their future through homeownership.”


Lessons Learned from 100 Percent Made-in-USA House

(MCT)—From the South Florida rock in its concrete slab to the roof trusses milled in Yulee, Fla., Greg and Jennifer Gent’s new house may be the only one in Central Florida built entirely with U.S.-made products. ...


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