Dec 21
Housing Permits Soar to 4 1/2 Year High Housing permits — a gauge for future construction — soared 3.6 percent in November over December, reaching its highest level in more than four years, the Commerce Department reported Wednesday. The increase is a sign that growth in new-home construction will continue through 2013, according to the …
Dec 18
Household Formation to Outpace Apartment Boom A big growth in new household formation is expected to drive up housing starts in the new year that will outpace the apartment boom, according to forecasts by Freddie Mac’s Chief Economist Frank Nothaft. Nothaft is forecasting a net growth of 1.2 to 1.25 million new Household Formation in …
Dec 18
Incentives Still Help Seal Deals, Builders Say While home buying has picked up, some builders say reluctant buyers may need an extra push to get moving. Some developers are offering up incentives or discounts paid by the developer at closing to help speed up deals, finish out housing projects, and sell hard-to-unload homes. “[Incentives] …
Dec 14
Fed Plans to Keep Interest Rates Low The Federal Reserve announced Wednesday that it plans to keep interest rates low as long as the unemployment rate is above 6.5 percent. This was the first time that the Fed has ever identified an exact unemployment rate to be reached before it plans to raise interest rates. …
Dec 14
The Best Buyers’ Market Is … Chicago is the top housing market for home shoppers, according to recent rankings of 30 of the largest U.S. metro areas released by Zillow. This is the second year in a row the Second City has nabbed the top spot. To arrive at its rankings, Zillow analyzed selling prices …
Dec 13
Blogging Mistakes to Avoid for Real Estate Agents Many real estate professionals have blogs to help them reach out to new customers and establish credibility and expertise. But if you’re not careful, blogging could hurt your brand — not help it. Forbes recently highlighted some of the following common blogging mistakes to avoid: Not posting …
Dec 12
Freddie: Great Expectations for Housing in 2013 The housing market is expected to continue its rise in the New Year, according to Freddie Mac’s U.S. Economic and Housing Market Outlook for December. Continuing to keep home affordability low, mortgage rates will likely remain near their record lows in the first half of 2013, Freddie Mac …
Dec 10
Number of Improving Housing Markets Soars The number of improving housing markets grew by 76 in December to a total of 201, according to the National Association of Home Builders/First American Improving Market Index. The index identifies U.S. metro areas that have shown improvement in home sales, employment, and housing values for at least the …
Dec 07
Short Sales Surge Before Potential Tax Hike Real estate professionals are rushing to get short sales completed before the end of the year. That’s when a tax break expires that could leave borrowers responsible for paying any unpaid mortgage debt. Short sales from borrowers behind on their payments jumped 22 percent over last year for …
Dec 07
Home Prices Post Another Big Gain More housing surveys are showing a rise in home prices, and the latest coming from CoreLogic this week shows values soared to their largest annual increase in more than six years. CoreLogic says the Home Prices index jumped 6.3 percent in October compared to a year ago, marking the eighth-consecutive …
Dec 05
Luxury Home builder Sees Profits Surge Luxury home builder Toll Brothers Inc. is being considered one of the top performers in the home-building sector, reports The Wall Street Journal. The home builder saw its quarterly profits surge, with its home building rising across all regions. The Northeast makes up 60 percent of Toll Brothers’ business …
Dec 05
No Foreclosures for the Holidays From Fannie, Freddie Mortgage giants Fannie Mae and Freddie Mac announced Monday that they will temporarily halt all bank repossessions and evictions beginning in mid-December until Jan. 2, 2013. The temporary foreclosure suspension goes into effect beginning Dec. 17 and Dec. 19, respectively. The moratorium will not affect the filing …
