Home Value News Archive
BMO Economics commented recently that higher equity and home values must be providing some much-needed comfort to U.S. consumers, following the release of the S&P Case-Shiller home price index for June which showed a more-than-expected rise of 0.9 per cent, seasonally adjusted.
"This represented the fifth straight monthly gain, and lands the index 0.5 per cent above year-earlier levels – the first positive reading in nearly two years," says Jennifer Lee, senior economist, BMO Capital Markets. "This report is very good news, and shows that prices are getting support from the pickup in demand for housing as well as fewer distressed homes on the market. It also represents a much-needed boost given the release of the consumer confidence index for August, which shows a drop of 4.8 points."
The Multifamily Production Index (MPI), a leading indicator for the multifamily market recently released by the National Association of Home Builders (NAHB), showed steady improvement in the apartment and condominium
Increasingly more people are looking to renting as an affordable, flexible lifestyle option, causing apartment vacancies to fall to their lowest point in 10 years. Reis reported that the apartment vacancy rate dropped to 5.2 percent in Q4 of 2011, down from their reports of 5.6 percent in Q3 of 2011. This higher demand for apartment housing means increased renting costs across the nation.
Everyone knows that the housing market has been a little daunting for the last several years. Ups and downs, talk of good news and bad news, and a confusing amount of information about rising and falling mortgage rates has rendered the market all but inaccessible for a lot of prospective buyers.
Good news! Times are changing.
Whether you want to buy a home as your long-term residence or as an income property, things are looking up. Remarkably low mortgage rates are making houses more affordable than they have been in decades.
REGIONAL SPOTLIGHT—An analysis of the Washington, D.C. Metro Area housing market, prepared by RealEstate Business Intelligence (RBI), based on the September 2011 RBI Pending Home Sales Index™ was released recently.
The second edition of the National Association of Home Builders/ First American Improving Markets Index (IMI), released recently, shows 23 individual housing markets now qualifying as "improving" under the new gauge's parameters. This is nearly double the 12 housing markets that made the list last month.
The index reveals metropolitan areas that have shown improvement for at least six months in housing permits, employment and housing prices. The following metros were listed in October:
Greg Rand (@gsrand
), CEO of OwnAmerica
, the host of Rand on Real Estate on 770 WABC, asks the question "Why didn't the Great Recession happen 10years ago today?" The circumstances were ripe for a major recession. We were already in a minor recession; endured the evaporation ...
What do you do when the appraisal on the dream home you want to buy comes in below the price in the offer the seller has accepted—even as much as 10 to 20 percent below?
Chances are that raising the cash for your down payment and closing cost has tapped you out. Finding thousands more to make up the difference between the appraised value and the contracted amount is out of the question.
You’re not the only buyer who has hit the low appraisal snag. This past June and July, 16 percent of real estate pros reported a cancelation in a sale, mostly due to a large number of low appraisals.
RISMEDIA, July 26, 2011--Recently the U.S. Department of Housing and Urban Development and NeighborWorks® America announced that the deadline for the Emergency Homeowners' Loan Program has been extended to Wednesday, July 27, 2011, in order to give homeowners at risk of foreclosure in the participating 27 states and Puerto Rico ...
RISMEDIA, April 20, 2011—Welcoming a brand new player to the real estate playing field is always big news. New perspective, new ideas, new potential on the horizon. However, with almost 200 years of history, and doing business today in more than 160 countries and jurisdictions, you can’t exactly call Citi a newcomer. You can’t even refer to Citi as a newbie to mortgage lending, a vertical it’s operated in for almost 40 years.
RISMEDIA, April 19, 2011—(MCT)—Craig and Amy Smith always felt quite confident, even cocky in their abilities to tastefully design the spacious interior of their steel-and-concrete loft in downtown Denver. That was until they decided to sell it and a consultant hired to help them "stage" their home told them to neutralize a dramatic accent wall, put away family photos and place most of their furniture and artwork in storage.
RISMEDIA, April 18, 2011—As the interest in home renovations continues to grow, homeowners are constantly looking for ways to get the job done without depleting their bank account. With numerous steps and details involved in the
RISMEDIA, April 14, 2011—Numbers don’t lie, and if you look at the most recent monthly housing statistics for the Twin Cities metro, as released in the Monthly Indicators report for February 2011 distributed by the Minneapolis Area Association of REALTORS®, you’ll see
RISMEDIA, April 5, 2011—Recently, the Federal Deposit Insurance Corporation became the first of six government agencies to adopt for public comment a proposed rule concerning risk retention on mortgage-backed securities, as required by section 941 of the Dodd Frank Act. As several of the FDIC directors noted, the rule could have profound consequences for this country’s financial system, and in particular for its housing finance system. Most at risk, perhaps, is the ability of that system to effectively serve the vast majority of Americans looking to buy their first homes who have no hope of saving a 20% down payment plus closing costs, and no access to relatives or a charitable organization or governmental entity that might provide the funds (with no expectation of repayment).
RISMEDIA, March 25, 2011—If your home was built before 1978 and you still have the original windows, it's time to seriously consider replacing them—especially if members of your household include young children or someone who is pregnant.