Mar 29
Mortgage Delinquencies, Foreclosure Rates Fall. The foreclosure picture continues to show year-over-year improvement, with delinquencies down and foreclosure inventories falling, according to a report of February data from Lender Processing Services (LPS), which provides technology and data for the mortgage and real estate industries. The total U.S. loan delinquency rate — loans 30 or …
Mar 28
Competition Heats Up for Home Buyers. Bidding wars are brewing again in more housing markets, and buyers are finding themselves up against increased competition in snagging a home. California buyers reportedly are feeling some of the biggest competition in the housing market, as inventories of homes for sale have fallen at the same time …
Mar 28
New-Home Sales Slow in February as Prices Rise. New-home sales posted the largest drop in two years, falling 4.6 percent in February, the Commerce Department reported Tuesday. Housing experts say the bad weather may have had a big part in the dip, just as the new-home market had shown signs of picking up its …
Mar 27
Will Farmland Values Reverse Course? Farmland values have risen rapidly over the past few years, renewing fears of a bursting bubble in that sector. In Iowa alone, farmland values have surged 90 percent since 2009. Mike Duffy, an economist at Iowa State University, says that an acre of farmland in the state used to …
Mar 27
Some Buyers Snap Up Retirement Homes Early. With home values falling over the past few years, some buyers are seeing a great opportunity to buy their retirement home now instead of waiting until they retire years later. For example, in one of the largest retirement areas in the nation — Century Village in Boca …
Mar 12
Brokerage Creates ‘Sneak Preview’ App for Listings @properties, a Chicago-based brokerage, has created a mobile app that allows its real estate professionals to market listings to one another before the properties show up in the multiple listing service. “Our 1,100 agents form a powerful ‘market within a market.’ The app makes the market incredibly efficient,” …
Mar 12
Many Americans Face ‘Megacommutes’ About 600,000 Americans travel more than 90 minutes each way—more than 50 miles—to get from home to work each day, according to a new U.S. Census Bureau report. Megacommutes are known for being worst in New York, Los Angeles, San Francisco, Washington, D.C., and New Orleans. Megacommuters tend to be …
Mar 11
Are Foreclosures a Better Buy Than Short Sales? Consumers may find buying a bank-owned home better than buying a short sale. Increasing REO inventory, deeper discounts, and shorter times to close can make foreclosures a more attractive option to home buyers, according to new data from RealtyTrac. The average sales price of a bank-owned …
Mar 11
Best Crime Prevention? Add Housing, Report Says A new study suggests that adding residential neighborhoods can lower crime rates. Changes to zoning in Los Angeles — in areas that also then saw new development — were linked with a reduction in crime in surrounding neighborhoods, according to a new study by RAND Corp. The …
Mar 11
Housing Looking Good Despite Economic Headwinds The number of consumers who believe home prices will increase over the next year rose to record highs, according to Fannie Mae’s February 2013 National Housing Survey, which polled more than 1,000 Americans to assess their attitudes toward housing. Forty-eight percent of consumers surveyed say they believe home …
Mar 04
Jumbo Mortgage Comeback Helps Lift Luxury Sales. The revival in the luxury real estate market is being fueled by growth in jumbo mortgages, Reuters reports. Jumbo loans typically are more than $417,000. “Jumbo loans are returning to the mortgage market after almost disappearing entirely in the wake of the credit crisis of 2008 and the …
Mar 04
Economist Makes Bold Statement on Home Prices. Home values could surge 35 percent without stretching housing affordability, Raj Dosaj, vice president of the home price index at LPS Applied Analytics, said during a recent webinar hosted by HousingWire. Dosaj says that the increase in home prices could be less than that if mortgage rates rise, …
