Home Owner News Archive
(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. ...
The fiscal cliff, an economically damaging set of tax hikes and spending reductions scheduled to begin in 2013, has been avoided (for now) and that is good news for housing in the short-run.
The enactment of H.R. 8, the American Taxpayer Relief Act of 2012, will extend permanently most, but not all, of the 2001/2003 tax cuts. The legislation prevents a fiscal drag of approximately $600 billion in 2013, which would have been large enough to push the current weak economy into recession. That in turn would have reduced demand for both owner-occupied and renter housing and threatened the ongoing recovery for home building.
A recent article published by NAHB shows that, based on a long-run calculation that averages mobility tendencies over a number of years, the typical buyer of a single-family home can be expected to stay in the home approximately 13 years before moving out.
This work updates a previous article that used data from the American Housing Survey (funded by the Department of Housing and Urban Development and conducted in odd-numbered years by the Census Bureau) through 2007.
Nearly three quarters of potential buyers believe home prices will increase in their neighborhood in the next twelve months, twice as many as in the first quarter.
Despite forecasts that prices will increase less in 2013 than this year, buyers are more concerned by rising prices than the overall economy. Thirty-three percent of buyers listed rising prices as a major concern in the fourth quarter, up from just 23 percent in the third quarter. Meanwhile, 22 percent said they were concerned with a weak economy, down from 27 percent in the third quarter, according to the Redfin Real-Time Homebuyer Survey. From November 30 to December 2, 2012,
For many homeowners, decorating is one of the most exciting and tradition-driven parts of the holiday season. Lights, candles and other bright decorations can all be great ways to make your home look festive
Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates easing slightly and remaining near record lows to keep homebuyer affordability high and attractive to those looking to refinance.
The 30-year fixed-rate mortgage (FRM) averaged 3.32 percent with an average 0.7 point for the week ending December 13, 2012, down from last week when it averaged 3.34 percent. Last year at this time, the 30-year FRM averaged 3.94 percent.
Additionally, the 15-year FRM this week averaged 2.66 percent with an average 0.6 point, down from last week when it averaged 2.67 percent. A year ago at this time, the 15-year FRM averaged 3.21 percent.
RealtyTrac® recently released its U.S. Foreclosure Market Report™ for November 2012, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported
In this hot market the homes moving fastest have two types of increasingly web savvy buyers: First time homebuyers who take advantage of FHA financing and absentee buyers looking for investments.
"All-cash purchases and absentee buyers are at nearly twice their historic 12-year averages," says Chris Pollinger, senior vice president of Sales for First Team Real Estate. "At the same time, FHA loans have dropped for another month even though they are still high, which shows that these two different groups are increasingly competing for single family homes in the price range of $225,000 to $400,000."
Despite continued uncertainty surrounding the fiscal cliff, Americans are showing increased confidence in the housing market and the direction of the economy. According to results from Fannie Mae’s November 2012 National Housing Survey, such improvement bodes especially well for continued strengthening in the housing sector, which in turn is likely to support overall economic growth.
“Consumer attitudes toward both the economy and the housing market continue to gather momentum, with many of our 11 key National Housing Survey indicators at or near their two-and-a-half-year highs,” says Doug Duncan, senior vice president and chief economist of Fannie Mae.
All short sales are not alike—especially when an FHA-insured mortgage is involved. FHA short sales must advance through a very exact and systemized process. Here’s what you need to know:
With the 2012 holiday season in full swing, HouseLogic, a comprehensive website for homeowners from the National Association of Realtors®, wants to inspire holiday celebrations with a chance to win
(MCT)—The nation’s unemployment rate dropped from 7.9 percent to 7.7 percent last month — the lowest in nearly four years — as businesses added another 146,000 jobs, the Labor Department reported Friday morning.
The job gains were close to the average of 151,000 a month so far this year — enough new openings to slowly put the 12 million people who are job-hunting back to work. Nearly 50,000 fewer jobs were created in September and October than originally reported by the department, however, according to revisions based on more complete information from the states. The rate is lowest recorded since December 2008, just before President Obama took office.
With just a month left in 2012, the number of days to benefit from year-end home buying tax benefits is dwindling quickly. We consulted real estate experts from across the country to share what you need
The National Association of Home Builders (NAHB) has announced the finalists for NAHB’s 2013 Best of 50+ Housing Awards, the premier design and marketing competition for the 50+ housing industry. A total of 83 entries were chosen as finalists and are eligible for either a Gold or Silver Award from NAHB’s 50+ Housing Council.
“This year’s finalists showed us how important it is to incorporate features and amenities that fit the lifestyle of the buyers and residents of their properties, “says NAHB 50+ Housing Council Chairman W. Don Whyte.
CoreLogic reported Monday that October prices that exclude distress sales rose only 5.8 percent while prices that include distressed sales increased on a year-over-year basis by 6.3 percent in October 2012, the biggest increase since June 2006 and the eighth consecutive increase in home prices nationally.
In a separate report, CoreLogic said that despite the demand only 58,000 foreclosures were completed in October, a year-over-year decrease of 17 percent and a decrease of 25 percent from September.