Real Estate Summary News

The Best Day of the Year to Buy a House

noreply@blogger.com (Maine Coon Cats) — Sun, 18 Oct 2015 16:07:00 +0000

The study revealed that homes usually sell at their lowest prices in October.

“Of the 2.7 million sales closed in October over the last 15 years, the average sales price was 2.6 percent below the average estimated full market value at the time of sale,” RealtyTrac said.

Within the month, the magic day was Oct. 8, with the best deals of any other single day. RealtyTrac said that housing deals that closed Oct. 8 sold for an average of 10.8 percent below estimated market value. -- Krystal Steinmetz in MoneyTalksNews http://www.moneytalksnews.com/the-best-day-the-year-buy-house/

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An analysis released by Fannie Mae notes that declining economies in states that depend heavily on oil and gas production could produce a drag on home prices in those locations.

The good news: Any drag in prices is likely to be far less severe than what the country experienced during the last big oil price decline in the 1980s. And the “drag” might not cause housing prices to drop at all, but may only cause prices to rise more slowly than they would have without the downturn in the oilfield. -- Michael Lima in HousingWire http://www.housingwire.com/blogs/1-rewired/post/35181-declining-oil-prices-will-have-a-muted-impact-on-housing?eid=311684310&bid=1188575

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Shared by Valentina Cirosola, Vienna Opera House, Austria

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After a summer of subdued or declining activity, mortgage applications increased 25.5% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending Oct. 2, 2015. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/35281-mortgage-applications-skyrocket-more-than-25?eid=311684310&bid=1195991
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The House of Representatives is scheduled to vote on a bill that would extend and formalize the grace period for theTILA-RESPA Integrated Disclosure rule until Feb. 1, 2016, and the White House is threatening to veto the measure if it passes Congress. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/35283-white-house-threatens-to-veto-trid-grace-period-bill
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Shared by Valentina Cirosola, taken by Michelle Ursino, Alberobello, Puglia Italy

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The August 2015 international trade deficit increased 15.6 percent from July, to $48.3 billion. Exports decreased 2.0 percent to $185.1 billion and imports rose 1.2 percent to $233.4 billion. -- U.S. Department of Commerce
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Defying the threat of a White House veto, the House on Wednesday afternoon passed bipartisan legislation to help homebuyers avoid delays and disruptions when closing on their new homes by a bipartisan vote of 303-121. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/35293-house-passes-bipartisan-trid-grace-period-bill
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Shared and taken by Luis Armando Oyarzun, Plaza San Martín y Edificio Cavanah . Buenos Aires . Argentina.

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Getting those last-minute applications in before the TILA-RESPA Integrated Disclosure implementation date caused mortgage application volume to rise 25.5% on an adjusted basis in the week ending Oct. 2, according to the Mortgage Bankers Association.

Application volume rose 26% on an unadjusted basis, according to the MBA's weeklyMortgage Applications Survey. -- Andy Peters in National Mortgage News http://www.nationalmortgagenews.com/news/origination/trid-drives-25-increase-in-applications-mba-1062972-1.html

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Distressed sales down to just 9% of homes sold

REO sale share now the lowest since September 2007

Trey Garrison in HousingWire http://www.housingwire.com/articles/35304-distressed-sales-down-to-just-9-of-homes-sold

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Shared and taken by M. Friedrich, Mediahafen Düsseldorf, Germany.

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Funny video from last year about celebrating Columbus Day:)
Brena Swanson in HousingWire
http://www.housingwire.com/blogs/1-rewired/post/31671-watch-this-hilarious-columbus-day-video-all-about-bankers?eid=311684310&bid=1201521

Yipee! We're Building More Homes!

noreply@blogger.com (Maine Coon Cats) — Tue, 06 Oct 2015 16:42:00 +0000

Construction spending during August 2015 came in at a seasonally adjusted annual rate of $1,086.2 billion, 0.7% (±1.5%) above the revised July estimate of $1,079.1 billion, the U.S. Census Bureau of the Department of Commerceannounced. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/35231-residential-construction-spending-rises-in-august?eid=311684310&bid=1191530
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The index dropped 1.4% to 109.4 in August from 110.9 in July but is still 6.1% above August 2014. The national median existing-home price is expected to increase 5.8% in 2015 to $220,300. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/35167-pending-home-sales-decline-14-in-august?eid=311684310&bid=1188341
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Shared and taken by Dieter Birr, Munich City Hall, Germany

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According to one reputable online source: Commercial real estate isn’t the only type of property seeing large inflows of Chinese money. The country’s investors have also been active in residential realty. -- D. Sidney Potter at inman.com http://www.inman.com/2015/09/23/why-chinese-investors-are-pouring-money-into-us-real-estate/
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Nat'l Real Estate Post:
Almost all real estate buyers under the age of 50 prefer to communicate by anything but talking.
http://thenationalrealestatepost.com/the-strange-communication-habits-surrounding-real-estate/?
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Shared by Juwai, Dubai at night

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Freddie Mac: Mortgage rates below 4% ten weeks straight

Rates barely move from last week -- Brena Swanson in HousingWire http://www.housingwire.com/articles/35230-freddie-mac-mortgage-rates-below-4-ten-weeks-straight?eid=311684310&bid=1191530

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The House Financial Services Committee approved several bipartisan bills they say are designed to potentially protect consumers, reform the Consumer Financial Protection Bureau and cut regulations. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/35238-bills-to-reform-cfpb-relieve-regulations-go-to-house-floor?eid=311684310&bid=1192049
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Shared by Valentina Cirosola, taken by Michelle Be, Florence

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Nat'l Real Estate Post:
CFPB reform. Will it work? http://thenationalrealestatepost.com/cfpb-reform-might-be-on-the-way/?
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Weekly earnings actually declined from $868.46 to $865.61. Labor participation fell 2 tenths to a nearly 40-year low of 62.4%, the lowest since October 1977.
Earlier Friday the September employment situation reportfrom the Census Bureau showed new job creation cratering to a weak 142,000, well below analyst expectations. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/35248-housing-experts-weigh-in-on-impact-of-septembers-hot-mess-of-a-jobs-report?eid=311684310&bid=1192662
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Shared by Juwai, China's Forise Holdings gets approval for AU$1.2BN Gold Coast apartment tower

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As prices in Fort Lauderdale, Fla. slumped 23% from last year, inventory of homes priced $1 million or more surged by 42%. Redfin saw similar double-digit growth in million-dollar homes for sale in other cities on the biggest luxury losers list including Santa Rosa, Calif. (37%), Houston (44%), Austin, Texas (27%), and Irvine, Calif. (27%). Of the 10 biggest price losers, only Los Angeles had a drop in both sale prices and inventory.

Of the more than 138 luxury markets studied, Miami Beach, Fla. was the most unequal. At nearly $6.59 million, average luxury prices were nearly 12 times greater than average prices in the other 95 percent of the market. In fact, the nine most unequal metros were all located on the southeast coast of Florida. -- Trey Garrison in HousingWire http://www.housingwire.com/blogs/1-rewired/post/35256-monday-morning-cup-of-coffee-what-are-we-going-to-do-with-fannie-and-freddie?eid=311684310&bid=1193481

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The share of the population in the work force, which includes people who have jobs or are looking for one, fell to 62.4 percent, the lowest level since 1977. -- NewsMax.com http://www.newsmax.com/Newsfront/job-growth-wages-work-labor/2015/10/02/id/694423/?ns_mail_uid=55751607&ns_mail_job=1638418_10032015&s=al&dkt_nbr=s4szrbqy

Hollywood A-Listers in The Big Short - December 2015

noreply@blogger.com (Maine Coon Cats) — Mon, 28 Sep 2015 17:07:00 +0000

Flashback to the 2008 timeframe where the subprime debacle was just taking hold.
Enter into that the cast of characters who bet against the big banks, and potentially, the American economy to get rich while the Empire crumbled.
Add in a couple of Hollywood A-listers and you get The Big Short movie, based on the book by Michael Lewis. -- Jacob Gaffney in HousingWire http://www.housingwire.com/blogs/1-rewired/post/35122-watch-hollywoods-a-list-brings-subprime-to-the-silver-screen?eid=311684310&bid=1185288
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A survey commissioned by online brokerage Redfin of 2,134 Americans finds one in five buyers made an offer on a home without having visited it in person.
In fact, some 17% of buyers bought a home without an agent’s help, a significantly higher portion than is cited in the most widely accepted report on this figure. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/35091-survey-1-in-5-homebuyers-make-offer-sight-unseen?eid=311684310&bid=1180715
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Shared and taken by Xalima Miriel, Medieval town of Obidos, Spain.

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Building permits in August 2015 were at a seasonally adjusted annual rate (SAAR) of 1,170,000, up 3.5 percent from the revised July rate and up 12.5 percent from August 2014.

Housing starts in August 2015 were at a SAAR of 1,126,000, down 3.0 percent from July but up 16.6 percent from August 2014. -- Department of Commerce

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A total of 1,947,028 U.S. single family homes and condos sold through August in 2015, up 5.4% from the same time period a year ago to the highest total for the first eight months of the year since 2007, when there were 2,069,963 sales. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/35138-half-of-major-metros-on-track-to-hit-highest-home-sales-since-2007?eid=311684310&bid=1185567
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Shared by Valentina Cirosola, taken by Semra Suvaçoğlu.

Beautiful building - Casa Galimberti Liberty Style, Milano Italy.

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The Consumer Financial Protection Bureau finalized several changes to its mortgage rules to expand access to credit to small creditors, particularly in rural and underserved areas.
The rule was proposed in January and geared to increase the number of financial institutions able to offer certain types of mortgages in rural and underserved areas. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/35109-the-cfpb-just-made-it-easier-to-get-a-mortgage-in-rural-underserved-areas?eid=311684310&bid=1182418
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Nat'l Real Estate Post:
FHA now says that credit scores of 500-579 are OK! However, the mortgage lenders aren't buying into the idea. http://thenationalrealestatepost.com/wells-snubs-new-fha-credit-scores/?
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Shared by Gia Huy Au Duong, taken by Greg Griffin . Hong Kong Harbor

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Nat'l Real Estate Post:
Congressional hearing in the House Financial Services Committee reports that Dodd-Frank makes us less free.
http://thenationalrealestatepost.com/are-we-more-free-act-slams-dodd-frank/
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Sales of new single family houses in August 2015 were 552,000 at a seasonally adjusted annual rate (SAAR), up 12 percent from July’s revised rate and up 5.7 percent from August 2014. -- Department of Commerce
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Shared and taken by Pasi Hortoma, Bridge in Finland

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Facebook out, Pintrest in for Real Estate

noreply@blogger.com (Maine Coon Cats) — Mon, 21 Sep 2015 16:30:00 +0000

Nat'l Real Estate Post:
Facebook out, Pintrest in. http://thenationalrealestatepost.com/facebook-out-pinterest-in/
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Real estate agents are an average of 56 yrs old. We need young blood in our ranks. Ebby Halliday Acers, founder of one of the largest residential real estate companies, passed away overnight of natural causes at 104 years old. -- Brena Swanson http://www.housingwire.com/articles/35020-dallas-real-estate-pioneer-ebby-halliday-passes-at-104?eid=311684310&bid=1172760
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Shared and taken by Pasi Hortoma, some place in Finland

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With limited numbers of existing homes coming onto the market, rising sales have led to very tight market conditions, according to a new client note fromCapital Economics. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/35017-surge-in-sales-leads-to-tighter-housing-market?eid=311684310&bid=1172760
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HUD OIG: More than 25,000 households using public housing despite higher incomes

Agency now pushing housing authorities to evict “over-incomes”

Trey Garrison in HousingWire http://www.housingwire.com/articles/35021-hud-oig-more-than-25000-households-using-public-housing-despite-higher-incomes?eid=311684310&bid=1173344

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Shared by Guy Kawasaki, Sandra Barns, Treehouse, Sweden http://www.mymodernmet.com/profiles/blogs/treehouse-treehotel-sweden

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Distressed sales—real estate-owned and short sales—accounted for 9.4% of total home sales nationally in June 2015, down 2.4 percentage points from June 2014 and down 0.9 percentage points from May 2015, according to the latest from CoreLogic. --Trey Garrison in HousingWire http://www.housingwire.com/articles/35028-distressed-sales-just-94-of-homes-sold-in-june?eid=311684310&bid=1174076
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Private investors are the best hope for affordable housing. -- Martha Cranley, Rajesh Rajaraman and Steve Schooler in Origination News http://www.nationalmortgagenews.com/news/origination/why-private-investors-are-the-best-hope-for-affordable-housing-1061226-1.html
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Shared by Gia Huy Au Duong, Moscow at Night

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Republican presidential candidate Jeb Bush is advancing a tax plan that would put a cap on the mortgage interest deduction and completely eliminate the deduction for state and local real estate taxes, effectively raising taxes on tens of millions of homeowners. -- Trey Garrison in HousingWire
http://www.housingwire.com/articles/35067-jeb-bush-launches-tax-plan-that-raises-tax-burden-for-homeowners?eid=311684310&bid=1178191
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A congressional move to limit the salaries for the CEOs of Fannie Mae and Freddie Mac moved a step closer Tuesday night when the U.S. Senate unanimously passed a version of the House’s Equity in Government Compensation Act of 2015. -- On HousingWire http://www.housingwire.com/articles/35073-senate-unanimously-passes-bill-to-cap-fannie-freddie-ceo-pay?eid=311684310&bid=1179044
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Shared by James Harrison, taken by Chutikern lor, Chefchaouen,Morocco....

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Optimism among the nation's homebuilders continues to build as confidence in the market for newly constructed single-family homes continued its steady rise in September with a one point increase to a level of 62 on the National Association of Home Builders/Wells Fargo Housing Market Index.
As with last month when it hit 61, this new reading is the highest since November 2005. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/35074-homebuilder-confidence-continues-to-hit-10-year-high?eid=311684310&bid=1179044
(The builders I talk to are actively looking for buildable land for sale.)

HOA Fines for Purple Swingset

noreply@blogger.com (Maine Coon Cats) — Thu, 10 Sep 2015 18:49:00 +0000

Nat’l Real Estate Post:

HOA Fines for Purple Swingset. http://thenationalrealestatepost.com/warn-your-clients-about-the-hoa

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Nationally, home value appreciation is leveling off after its rapid pace in the early years of the recovery. Homes lost 0.1% of their value in July, falling to a Zillow Home Value Index of $179,900. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34875-home-price-growth-is-cooling-and-heres-why-thats-a-good-thing
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Shared by Valentina Cirosola, taken by Marco Luce, Florence Italy

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Well, it only took about 8 years but... the Mortgage Bankers Association just said that total loan production expenses – commissions, compensation, occupancy, equipment, and other production expenses and corporate allocations – decreased to $6,984 per loan in the second quarter of 2015, from $7,195 in the first quarter of 2015. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34862-about-time-cost-to-originate-mortgages-finally-gets-cheaper

Nat’l Real Estate Post:

The Big Banks are loosing market share. http://thenationalrealestatepost.com/big-banks-losing-market-share

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Shared by James Harrison, A Wat in Thailand.

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Reports from the 12 Federal Reserve Districts indicate economic activity continued expanding across most regions and sectors during the reporting period from July to mid-August.

Residential real estate activity improved across the 12 Districts, with home sales and home prices increasing in every District, while construction activity was more mixed. Richmond and Kansas City indicated that sales of low- and medium-priced homes continued to outpace sales of higher-priced homes. – Trey Garrison in HousingWire http://www.housingwire.com/articles/34965-beige-book-real-estate-activity-up-in-all-12-districts

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For the first time in the report’s history, homebuyers from Latin America (including Mexico) were not a clear majority of international homebuyers in Texas – comprising only 41% of international buyers.

Instead, homebuyers from Asia/Oceania (including China), conversely, doubled from 18% from April 2013-March 2014 to 31% from April 2014-March 2015. – Brena Swanson in HousingWire http://www.housingwire.com/articles/34962-international-buyers-pump-832b-into-texas-housing

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Shared by Gia Huy Au Duong, taken by Eric, Tsuruoka, Yamagata, Japan

The pace of new home construction is surpassing the number of available workers to do the job, according to areport and infographic from Coyne College. – Brena Swanson in HousingWire http://www.housingwire.com/articles/34944-infographic-americas-growing-demand-for-new-home-construction

On Thursday, Fannie Mae announced that it wasincreasing its maximum number of allowable days for a foreclosure sale in 33 states. But Fannie Mae wasn’t alone.Freddie Mac has also announced that it is increasing the maximum number of allowable days for “routine” foreclosure proceedings in those same 33 states. – Ben Lane in HousingWire http://www.housingwire.com/articles/34989-freddie-mac-joins-fannie-mae-in-extending-foreclosure-timelines

Shared and taken by Norbert Metz, someplace in Holland?

Home prices nationwide, including distressed sales, increased by 6.9% in July 2015 compared with July 2014, according to CoreLogic. – Trey Garrison in HousingWire http://www.housingwire.com/articles/34947-corelogic-home-prices-rose-69-in-july-2015

Existing home sales rose unexpectedly in July, and are now up 16% since the start of the year. And while starts were essentially flat in July, they are up 10% over the same period, and homebuilder confidence is elevated. – Trey Garrison in HousingWire http://www.housingwire.com/articles/35017-surge-in-sales-leads-to-tighter-housing-market

Kill Fannie and Freddie

noreply@blogger.com (Maine Coon Cats) — Tue, 01 Sep 2015 20:29:00 +0000

Seven years later, fundamental problems with the system—especially the roles of Fannie Mae and Freddie Mac—remain unreformed. If today’s presidential candidates want to engage in a policy debate that affects the lives of nearly all Americans, this is it. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34837-ed-demarco-kill-fannie-mae-and-freddie-mac
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Millennials are trying to avoid debt at all costs: http://www.businessinsider.com/millennials-avoid-debt-at-all-costs-2015-8 -- John Mauldin in Business Insider
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Shared by Mirjana Jesensek, Canterbury England

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The number of homes that have recorded yearly declines in value of at least 2% has risen sharply, according to Weiss Residential Research. -- Any Peters in Origination News http://www.nationalmortgagenews.com/news/origination/number-of-homes-losing-value-rises-sharply-weiss-1059376-1.html
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Nat'l Real Estate Post:
FHA says it is loosening the required FICO score for borrowers, but the way they plan to do it sounds like the requirements will tighten instead. http://thenationalrealestatepost.com/fha-going-for-lower-fico-scores/
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Shared by Gia Huy Au Duong, Rain in Saigon, Vietnam

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Real gross domestic product (GDP) increased at an annual rate of 3.7 percent in the second quarter of 2015, according to today’s second estimate. -- US Department of Commerce

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Personal income in July 2015 increased 0.4 percent. Nominal personal consumption expenditures (PCE) increased 0.3 percent. Real PCE increased 0.2. Nominal disposable personal income (DPI) increased 0.5 percent. Real DPI increased 0.4 percent. The personal saving rate as a percentage of DPI was 4.9 percent in July. -- Department of Commerce

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Shared and taken by Dieter Birr, Neues Rathaus München City hall Munich

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Nat'l Real Estate Post:
Realtors are not making much money. There are those few who are, but most are not. Less than 11% of women make more than $100,000 per year in real estate. But, 43% of women say they make their money in real estate. http://thenationalrealestatepost.com/fascinating-realtor-income-stats-released-by-nar/
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Auto loans are up, foreclosures are down. -- Federal Reserve Bank of New York
http://www.newyorkfed.org/microeconomics/hhdc.html#/2015/q2
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Shared by James Harrison, Morocco

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Sales of new single-family houses in July 2015 were at a seasonally adjusted annual rate of 507,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 5.4 percent (±14.8%)* above the revised June rate of 481,000 and is 25.8 percent (±22.6%) above the July 2014 estimate of 403,000. -- Department of Commerce
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Josephine Country Cat
Chapter 8
Josephine has a Visitor

Josephine hissed and ran to the dark place under the head of Jerry’s bed. Jerry had brought a strange cat to her home! She heard the strange cat walk across the floor. She smelled his wet fur. How dare he act as if he lived in her house! As she peeked out from under the bedspread toward the living room, she saw him sniff his way into the kitchen. Sugar was large, white and long haired. He would make two of Josephine. She heard the can opener and the smell of tuna floated toward her. Her tummy rumbled. She crept toward the kitchen, crouching low to the floor. Peeking around the doorway, she hissed. He was lapping her tuna juice! She hissed again and ran back to the bedroom and hid under the bed. She absolutely refused to go into the kitchen with a strange cat.

Buy Josephine Country Cat!

https://www.createspace.com/5552704

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Blame It on the Rain!

noreply@blogger.com (Maine Coon Cats) — Tue, 25 Aug 2015 15:11:00 +0000

Home construction down in the early summer? Blame it on the rain. In Texas, that is, which accounts for 15% of all new single-family construction. That’s what Wells Fargosays anyway in its July 2015 Housing Chartbook. -- Trey Garrison in HousingWire http://www.housingwire.com/blogs/1-rewired/post/34755-trending-thursday-end-fannie-freddie-because-big-banks-will-fill-the-void-right
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The Mortgage Bankers Association reported today that mortgage applications for July 2015 for new home purchases decreased by 4% relative to the previous month. It’s been dry in Texas for the last month, so how that will affect August will be telling. Spoiler: in the last week, the MBA reports apps are becoming a total non-mover. -- Trey Garrison in HousingWire http://www.housingwire.com/blogs/1-rewired/post/34755-trending-thursday-end-fannie-freddie-because-big-banks-will-fill-the-void-right
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Shared by Juwai, A Chinese developer has applied to build a 88-storey tower in Surfers Paradise located in the Gold Coast of Australia

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Average fixed mortgage rates reversing course and nudging higher for the first time in four weeks, according to Freddie Mac.

The 30-year fixed-rate mortgage averaged 3.94% with an average 0.6 point for the week ending August 13, 2015, up from last week when it averaged 3.91%. A year ago at this time, the 30-year FRM averaged 4.12%. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34754-mortgage-rates-reverse-course-moving-higher

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With the Dodd-Frank financial reform law celebrating its fifth anniversary this month, the editors at Investor's Business Daily have offered their assessment of the Obama administration centerpiece.

The review isn't positive.

"It's a pernicious law, one that a devastating new report suggests is largely to blame for our lackluster economy," an IBD editorial states. The report was House testimony offered by American Enterprise Institute fellow Peter Wallison Tuesday. -- NewsMax Finance http://www.newsmax.com/Finance/StreetTalk/Investors-Business-Daily-Dodd-Frank-Law-Economy-Banks/2015/07/29/id/659475/
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Shared by James Harrison, Liang Old Town, China (Yunnon UNESCO Site)

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Renters can expect to pay 30.2% of their income on rent, according to a Zillow analysis of rental and mortgage affordability in the second quarter released Thursday. That is the highest percentage ever, said Zillow, which has data going back to 1979. -- Laura Kusisto in the Wall Street Journal
http://blogs.wsj.com/economics/2015/08/13/renters-spent-a-record-high-share-of-income-on-rent-this-spring/
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“The fact the builder confidence has been in the low 60s for three straight months shows that single-family housing is making slow but steady progress,” said NAHB Chairman Tom Woods, a home builder from Blue Springs, Missouri. “However, we continue to hear that builders face difficulties accessing land and labor.” -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34781-homebuilder-confidence-rises-in-august-to-highest-since-november-2005
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Shared by James Harrison, taken by A Lin, Rostov Veliky was founded in 862 on the shores of the sparkling Lake Nero. The first records of Rostov Veliky originated in the 9th century. Many prominent icon painters called this city home, and their work is reflected all over Russia. The city has a lot of amazing sites but the centerpiece of this historic town is its silver-domed Kremlin, one of the most attractive in Russia.

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First-time homebuyers between 2010 and 2013 were slightly younger than in the previous four-year period, according to Zillow. -- Andy Peters in Origination News http://www.nationalmortgagenews.com/news/origination/first-time-homebuyers-slightly-younger-in-2010-2013-zillow-1059116-1.html
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Yesterday, Richard Bove, an equity research analyst at Rafferty Capital Markets, didn't mince words, saying his initial judgment of the Dodd-Frank Act as the worst piece of legislation in history was wrong: It’s actually worse than that. -- Jacob Gaffney in HousingWire http://www.housingwire.com/blogs/1-rewired/post/34812-dodd-frank-is-killing-america-one-community-bank-at-a-time
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Shared by Juwai, Gold Coast, Australia

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Today, the typical first-time homebuyer purchases a home that costs 2.6 times his or her annual income. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34809-heres-the-impact-rising-home-prices-have-on-millennials
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Josephine Country Cat
Chapter 7
Josephine and the Fireflies
https://www.createspace.com/5552704

When the School Districts Matter in Real Estate

noreply@blogger.com (Maine Coon Cats) — Fri, 21 Aug 2015 19:39:00 +0000

....the survey also revealed that a great school district is almost twice as important to those who search online for their dream home on a weekly or monthly basis than those who only search annually. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34750-trulia-where-schools-matter-and-where-they-dont-in-homebuying
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Just over half of Americans — 52% — say they are likely to buy a home in the next five years, according to the 2015BMO Harris Bank Homebuyers Report.

In addition, Americans surveyed are willing to pay an average of $296,000 for a home and will average a 21% down payment. -- Trey Garrision in HousingWire http://www.housingwire.com/articles/34749-survey-52-of-americans-likely-to-buy-a-home-in-next-five-years

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Shared by James Harrison, taken by A Lin, Kizhi, Carelia, Russia.

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Real gross domestic product (GDP) increased at an annual rate of 2.3 percent in the second quarter of 2015, according to today’s advance (first) estimate. This follows a revised growth rate of 0.6 percent in the first quarter. --Department of Commerce.

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Friday's employment report will be a flop, based on ADP's estimate for private payrolls which it sees rising only 185,000.
This is below the lowest analyst estimate for 190,000. It is also 20% lower than the 232,000 number ADP posited a year ago, and the weakest July since 2013. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34684-julys-employment-report-looks-ugly
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Shared and taken by Haris Vithoulkas, Athens, Greece.

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Distressed sales—real estate-owned and short sales—accounted for 9.9% of total home sales nationally in May 2015, down 2.8 percentage points from May 2014 and down 1.7 percentage points from April 2015, according toCoreLogic. -- Trey Garrison in HousingWire
http://www.housingwire.com/articles/34699-distressed-sales-accounted-for-10-of-homes-sold-nationally-in-may-2015
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The percentage of consumers who believe it is a good time to buy dropped to 61%, an all-time survey low, right as summer is about to come to a close.
And the share of consumers who believe now is a good time to sell a home didn’t fare too much better, dropping 7 percentage points to 45%. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34720-consumers-dont-think-its-the-right-time-to-buy
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Shared by Paul Richardson, taken by Henk Meijer, Neuschwanstein Castle, Bavaria, Germany.

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The National Association of Realtors’ pending sales index went into a skid in June, falling 1.8% — expectations were for a 0.9% gain — the biggest drop since December 2013. The pace of the drop was what alarms analysts.
But taken in the long-run, and you have to do that in housing — any slowdown in existing sales will be set against much stronger growth in new home sales. -- Trey Garrison in HousingWire http://www.housingwire.com/blogs/1-rewired/post/34724-can-this-sickly-housing-recovery-survive-without-artificially-low-interest-rates
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The Consumer Financial Protection Bureau, which celebrated its fourth birthday earlier this week, won’t see its fifth birthday if Sen. Ted Cruz, R-TX, has his way. -- Ben Lane in HousingWire http://www.housingwire.com/articles/34552-sen-ted-cruz-introduces-bill-to-abolish-cfpb
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Shared and taken by Selim Ates, Istanbul, Turkey

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Excerpt from Josephine Country Cat

The goat recovered from his surprise. He moseyed over by Bill and cocked his head at the small white and black spotted cat rolling around on his ground. He lowered his horns. Josephine paused in her bathing thinking he was going to butt Bill with his horns. Instead, the goat bent down and took the skirt of the dress in his mouth, lifting Bill and all. He started chewing the dress slowly. Bill started yelling. She had protested Pearl’s grandchildren playing with her like a doll, but she knew this goat did not like cats. Bill yelled and squirmed and kicked and wriggled.

Josephine stopped washing. Her eyes grew very round. She knew Bill was in trouble. Josephine dropped down from the pony’s rump and ran up to the goat. She stood on her hind legs and beat a rat-a-tat-tat-tat on the goat’s face with her front paws. Shocked, the goat dropped his jaw, releasing Bill.

Buy Josephine Country Cat!
http://www.amazon.com/dp/0996451307
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Three Hours and Voila, a Two Story Villa

noreply@blogger.com (Maine Coon Cats) — Mon, 10 Aug 2015 18:07:00 +0000

BEIJING: A Chinese company has assembled a 3-D printed two-story villa in less than three hours, complete with interior decoration, plumbing, wiring and other facilities.

A crane assembled modules of living room, bedroom, kitchen and restroom within less than three hours on July 17 in Xi'an, northwest China's Shanxi province. -- Juwai.com http://realty.economictimes.indiatimes.com/news/technology/two-story-villa-built-in-three-hours-in-china/48155754
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After five consecutive months of increases, pending home sales in June dropped 1.8% — expectations were for a 0.9% gain — the biggest drop since December 2013, according to the National Association of Realtors. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34610-pending-home-sales-drop-for-the-first-time-in-2015
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Shared by Tina En, House on the bridge in Hebei province. China.

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The data revealed that the low-tier is closest to peak 2006 levels, with prices only 10.1% below 2006 peak levels.

Conversely, the mid-tier (homes selling between $120,000 and $345,000) is the worst performing segment with current price levels 24.8% below 2006 peak levels. This vast difference in market recovery underscores the continued challenges the majority of homeowners face, despite a quicker recovery in both the bottom and top segments of the market. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34656-the-housing-recoverys-great-big-weak-spot-mid-tier-homes

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Personal income in June 2015 increased 0.4 percent. Nominal personal consumption expenditures (PCE) increased 0.2 percent. Real PCE was virtually unchanged. Nominal disposable personal income (DPI) increased 0.5 percent. Real DPI increased 0.2 percent. The personal saving rate as a percentage of DPI was 4.8 percent in June. -- Department of Commerce
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Shared by Tina En, Thailand's White Temple

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Bankrate surveyed up to 10 lenders in all 50 states and Washington, D.C. in June 2015. Researchers obtained online good faith estimates for a $200,000 mortgage to buy a single-family home with a 20% down payment. Costs include fees charged by lenders, as well as third-party fees for services such as appraisals. The survey excludes discount points, taxes, title fees, property insurance, association fees, interest and other prepaid items. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34665-mortgage-closing-costs-drop-7-to-1847
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If you’re a city boy or city girl, then WalletHub has the list for you — the top 20 best cities to live in. Bonus, look down your nose at (or start planning to move out of) their list of the 20 worst big cities. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34669-the-best-and-worst-big-cities-to-live-in
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Shared by Walter Gronski, don't know where it is or who took it, but it is cool!

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Home prices nationwide, including distressed sales, increased by 6.5% in June 2015 compared with June 2014, according to the June 2015 CoreLogic Home Price Index. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34674-corelogic-home-prices-rose-an-amazing-65-annually-in-june
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Mortgage applications increased 4.7% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 31, 2015. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34683-mortgage-applications-jump-a-solid-47-in-last-week-of-july
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Shared by Beautiful Things, taken by Senna Relax, Portofino, Italy.

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So why are home prices increasing? "For the same reason that college tuitions are: because the government facilitates lending people money at concessionary rates to purchase them," Williamson maintains. -- Dan Weil in NewsMax
http://www.newsmax.com/Finance/StreetTalk/National-Review-Housing-Bubble-Economy/2015/08/05/id/665576/
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Josephine Country Cat
Chapter 3 Josephine Defends Her Home

Two moths rose from a turnip plant. Josephine leapt and caught one in mid-flight. Crouching next to a green turnip leaf, she ate the moth. Then she heard a dog trotting up the road. She hurried around to the front corner of the house. She growled a small kitten growl and hissed. The dog continued up the road without looking at her. She held her head high and flicked her tail. She was Josephine, Guardian and Protector.

US purchase link
https://www.createspace.com/5552704

The World's Most Unaffordable Cities

noreply@blogger.com (Maine Coon Cats) — Wed, 29 Jul 2015 17:19:00 +0000

The most affordable major metropolitan markets in 2014 were in the United States, which had a moderately unaffordable rating of 3.6.

Canada and Ireland were rated "seriously unaffordable," with a median multiple of 4.3, along with Japan (4.4), the United Kingdom (4.7) and Singapore (5.0). Australia (6.4), New Zealand (8.2) and Hong Kong (17.0) were severely unaffordable.

Hong Kong's median multiple of 17.0 was the highest recorded (least affordable) in the 11 years of the Demographia International Housing Affordability Survey.

--Jonathan Chancellor in Property Observer, 18 January, 2015

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We find that a change in down payment requirements tends to have a large effect on housing demand—households’ willingness to pay for a given home—especially for current renters, whereas the effects of a change in the mortgage rate are modest. -- Andreas Fuster and Basit Zafar in Liberty Street Economics http://libertystreeteconomics.newyorkfed.org/2015/07/how-sensitive-is-housing-demand-to-down-payment-requirements-and-mortgage-rates.html#.Vbj57vNViko
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Shared and taken by James Harrison, Morrocco.

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Chinese property portal Juwai.com estimates QDII2 - if rolled out nationally- could theoretically deliver as much as $2.3 trillion to international residential real estate markets alone. The likely amount is probably closer to $661 billion. The latter figure depends on a reasonable estimate that wealthy Chinese individuals allocate approximately 10 percent of their total assets to international real estate, both commercial and residential.

The size of these figures highlights that, "If China undergoes a material liberalization over the next decade, the increase in gross flows will likely be very large relative to the world economy", says Juwai.com executives. - See more at: http://www.worldpropertyjournal.com/real-estate-news/china/beijing-real-estate-news/qualified-domestic-individual-investor-program-china-qdii2-program-china-real-estate-investor-data-2015-international-real-estate-investors-report-world-trade-organization-juwaicom-9238.php
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If you've been curious over how the international real estate markets have fared recently, then wonder no more – we’ve just released the latest Juwai Q1 2015 Global Property Index (GPI) Report! -- http://list.juwai.com/news/2015/06/juwai-releases-q1-2015-global-property-index-gpi-report

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Shared and taken by Neil Howard, One World Trade Center, NYC, New York.

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The homeownership rate in the United States in the second quarter declined to 63.4%, the lowest it has been since 1967, according to data from the Department of Commerce’s Census Bureau. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34596-homeownership-rate-drops-to-48-year-low
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The full House Financial Services Committee meets today to markup several bills of critical interest to the mortgage finance and housing industries, including a measure to formalize the TRID “hold harmless” grace period and a cap on CEO compensation for Fannie Mae and Freddie Mac. (Read about the five bills by following the link below.) -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34595-key-housing-mortgage-finance-bills-facing-markup-in-house
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Shared by Best Photos, Rotterdam, netherlands.

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Nat'l Real Estate Post:
Fannie and Freddie may be used to pay down the national debt. http://thenationalrealestatepost.com/fannie-and-freddie-to-pay-down-national-deficit/
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“The painful truth is that Dodd-Frank and the hyper-regulated Obama economy are failing low- and moderate income Americans who simply want their fair shot at economic opportunity and financial security,” Hensarling said. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34604-dodd-frank-dragging-down-economic-recovery-house-committee-says
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Shared by Amazing Places to See, taken by Omar Reyes, Pancula, (pampa de pabellones) | Apurímac, Perú

Will the CFPB Survive?

noreply@blogger.com (Maine Coon Cats) — Wed, 29 Jul 2015 15:43:00 +0000

The Consumer Financial Protection Bureau, which celebrated its fourth birthday earlier this week, won’t see its fifth birthday if Sen. Ted Cruz, R-TX, has his way.

Cruz, along with Rep. John Ratcliffe, R-TX, introduced a bill in Congress this week that would abolish the CFPB, an agency that Cruz says does not stand up to its name.

“Don't let the name fool you, the Consumer Financial Protection Bureau does little to protect consumer,” Cruz said in a release.

“The agency continues to grow in power and magnitude without any accountability to Congress and the people,” Cruz continued. “The only way to stop this runaway agency is by eliminating it altogether.” -- Ben Lane in HousingWire http://www.housingwire.com/articles/34552-sen-ted-cruz-introduces-bill-to-abolish-cfpb

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Most home renovation firms that have profiles on Houzz reported that conditions have returned to levels that are about the same or better than pre-recession “normal” levels. -- Brian Anthony in Houzz http://www.houzz.com/ideabooks/51567284
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Shared by Uros Kralj, taken by İlhan Eroglu, Starry night in Stari Most.

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The national index of house prices is now only 1.8% below the peak level of May 2007. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34570-this-mba-chart-shows-the-real-rise-of-home-prices
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Officials in Corrales, a village just north of Albuquerque, New Mexico, surprised real estate agents this week when they hung black plastic bags over 35 “For Sale” signs in an effort to finally enforce a local ordinance, an article in the Albuquerque Journal said.
“Wouldn’t it have been a nice courtesy if they had emailed Realtors to warn them instead of doing this?” said Robin Riegor, an agent with Coldwell Banker who lives in Corrales and has 21 listings in the village. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34573-village-now-charges-real-estate-agents-to-display-for-sale-signs
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Shared by James Harrison, taken by Tony Puah. The interior of the Monastery of San Jerónimo de Granada facing the altar.

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Nat'l Real Estate Post:
Seattle is considering Sharia compliant interest free mortgages. (RESPA Violation!)
http://thenationalrealestatepost.com/seattle-considers-sharia-law-compliant-interest-free-mortgages/
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A small Texas bank was handed a large victory this week, when a federal court ruled that the bank is allowed to challenge the constitutionality and authority of theConsumer Financial Protection Bureau. The repercussion of this battle could also have a huge ripple effect on the entire financial market. -- Ben Lane http://www.housingwire.com/articles/34578-small-texas-bank-winning-big-fight-against-cfpb
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Shared by James Harrison, taken by A Lin. Uglich is a small town of Golden Ring located at the picturesque bank of the Volga River. It is one of few Russia's historical and well-preserved riverine tourist destinations. The town became the site of one of the most significant deaths in Russian history. Ivan the Terrible’s young son Dmitry was killed in Uglich in 1591, marking both the end of the Rurik dynasty and the advent of the Time of Troubles.

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Despite market reports of strong median home price appreciation this spring, gains are very uneven and nearly half of homes in 10 of the nation’s largest markets actually lost value in May, according to a report by Weiss Residential Research’s Indexes.
Only 54% of homes in the markets appreciated during May compared to 81% in May 2014, a sign that the downward trend may continue in the coming months. In Denver, the hottest market in the nation, 84% of houses appreciated in May compared to 95% last year. In the Washington, D.C., market, weakest of the top 10, only 34% of houses gained value in May compared to 57% in May 2014.
-- Trey Garrison
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Shared by Juwai
Chinese capital affects world markets, http://bit.ly/1IhN5jT

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Shared by Amazing Places to See, taken by Gary Ellis, County Cork, Ireland.

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Largest US Ranch for Sale

noreply@blogger.com (Maine Coon Cats) — Sat, 25 Jul 2015 23:34:00 +0000

The largest ranch in the U.S. within a single fence is now for sale in North Texas, according to an article on Bloomberg.com.

It’s 510,527 acres and in addition to a very colorful history, the land includes 6,800 head of cattle, 500 quarter horses, and more than 1,000 oil wells. The price? $725 million. -- Allison Tester in HousingWire http://www.housingwire.com/articles/34537-largest-ranch-in-the-us-for-sale

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Shared and taken by Barb G. M., Volterra, Tuscany - Italy.

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Barclays previously downgraded Zillow from Overweight to Equal Weight in April, citing slowing traffic then as well.

And now, Barclays is downgrading Zillow again, this time from Equal Weight to Underweight. -- Ben Lane in HousingWire http://www.housingwire.com/articles/34530-is-zillow-in-trouble

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And whether you view the CFPB as a plague or a blessing on the financial services industry, the organization has undoubtedly altered the landscape. -- Ben Lane in HousingWire http://www.housingwire.com/articles/34539-heres-everything-you-need-to-know-about-the-cfpb
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Shared by Aceline Beauchene, taken by Granite.

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Thanks to rising demand and shrinking supply, the median existing-home price for all housing types reached an all-time high in June. -- Ben Lane in HousingWire http://www.housingwire.com/articles/34546-existing-home-sales-prices-reach-all-time-high
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Judge Margaret Sweeney in the Federal Claims Court in Washington yesterday granted a motion that will force theU.S. Treasury to release all discovery document materials in its possession that pertain to the decision to take Fannie Mae and Freddie Mac into conservatorship. -- Jacob Gaffney in HousingWire
http://www.housingwire.com/articles/34550-judge-orders-massive-release-of-fannie-freddie-conservatorship-docs
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Shared by James Goode, taken by whoever's name is on this photo, Cathedral of the Spilled Blood or Church of the Resurrection of the Savior on the Spilled Blood 1883 to 1907- St. Petersburg, Russia

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Nat'l Real Estate Post:
Why is the G-Fee the target of Congress every time they want money for something? Well now they want to tap it for transportation. Why are we punishing homeowners?
http://thenationalrealestatepost.com/congress-wants-homeowners-to-pay-federal-transportation-tax/?
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Sales of new single family houses in June 2015 were 482,000 at a seasonally adjusted annual rate (SAAR), down 6.8 percent from May’s revised rate but up 18.1 percent from June 2014. -- Department of Commerce
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Shared by Flavia Sarta, taken by Massi Rock mc, Crimea Russia.

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Purchases of new U.S. homes unexpectedly retreated in June and prior readings were revised down, painting a picture of less robust improvement during the industry's busiest time of year.

Sales fell 6.8% to a 482,000 annualized pace, the weakest since November and lower than any forecast of economists surveyed by Bloomberg, Commerce Department figures showed Friday in Washington. Three of four regions suffered setbacks. -- Bloomberg News http://www.nationalmortgagenews.com/news/origination/new-homes-sales-unexpectedly-fall-to-seven-month-low-1056952-1.html

The End of Real Estate Agents

noreply@blogger.com (Maine Coon Cats) — Sat, 25 Jul 2015 22:53:00 +0000

Gary Vaynerchuk on what will cause the end of real estate agents.
https://www.youtube.com/watch?v=5tUtK6h659U
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U.S. home sales increased 11.4% in June compared to the same time last year, leaving buyers with the lowest supply of homes for sale on record, according to Redfin. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34497-trending-thursday-how-strong-is-housings-foundation-how-weak-is-the-cfpbs-database
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Shared by Karen V. Poe, taken by Lauren Sanna SheWolf, Abbey Library Waldsassen, Bavaria- GERMANY

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The housing market index, unchanged in July at 60, is signaling substantial strength for the new home market. This is the strongest reading since November 2005, according to the National Association of Home Builders/Wells Fargo Housing Market Index released Thursday.

Last month’s reading was revised up one point, moving from 59 to 60, which was the highest reading since September 2014. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34498-homebuilder-confidence-hits-highest-level-in-a-decade

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“As house prices continue to recover, mortgage applications for the purchase of newly constructed homes increased slightly in June. Application activity in June was slightly higher compared to the past two years, leading us to estimate that new homes sales increased 8% from May on a seasonally adjusted annual basis,” said Lynn Fisher, MBA’s Vice President of Research and Economics.
The average loan size of new homes increased from $320,744 in May to $321,678 in June. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34495-new-home-purchase-applications-climbed-1-in-june
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Shared by James Harrison, taken by Tim Durkan, Space Needle in Seattle.

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Building permits in June 2015 were at a seasonally adjusted annual rate (SAAR) of 1,343,000, up 7.4 percent from the revised May rate and up 30 percent from June 2014.

Housing starts in June 2015 were at a SAAR of 1,174,000, up 9.8 percent from May and up 26.6 percent from June 2014. -- Department of Commerce

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New-home construction climbed in June to the second-highest level since November 2007 as builders stepped up work on apartment projects. -- Bloomberg News http://www.nationalmortgagenews.com/news/origination/housing-starts-climb-on-apartment-surge-1056288-1.html
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Shared and taken by Luis Armando Oryarzun, Interior Casa Rosada. Buenos Aires. Argentina.

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Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,174,000, up 9.8% (±19.9%) above the revised May estimate of 1,069,000 and is 26.6% (±19.6%) above the June 2014 rate of 927,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development.

Most of the gains in starts and permits were in multifamily, not single-family contruction.

But the problem is single-family housing starts in June were at a rate of 685,000, 0.9% (±11.5%) below the revised May figure of 691,000. The June rate for units in buildings with five units or more was 476,000. -- HousingWire http://www.housingwire.com/articles/34508-single-family-housing-starts-down-in-june

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Shared by Amazing Places to See, taken by ROBERTO E. CROIZAY, Miami, Florida USA.

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Nat'l Real Estate Post:
MLO's: Help Real Estate Agents stay safe and get some PR in the bargain.
http://thenationalrealestatepost.com/how-to-literally-save-realtors-lives/
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Should Real Estate Agents Drive Fancy Cars?

noreply@blogger.com (Maine Coon Cats) — Sat, 25 Jul 2015 22:16:00 +0000

Should real estate agents drive around in fancy cars?

Question answered on Realtor Reddit thread

-- Jacob Gaffney in HousingWire http://www.housingwire.com/blogs/1-rewired/post/34207-should-real-estate-agents-drive-around-in-fancy-cars

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The House Rebublicans fight to control the CFPB
Republicans have long sought to bring the agency's funding under congressional control, arguing its current funding structure makes it unaccountable to Congress. Agency backers argued that Republicans would simply look to stifle the agency with budget cuts with that control, and noted that other banking regulators also have funding arrangements that fall outside congressional purview.
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Shared and taken by Pasi Hortoma, Finnish Shed, somewhere in Finland.

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Can the Credit Bureaus Finally be Tamed

WASHINGTON — A landmark agreement signed by one of the country's largest credit bureaus and hailed by federal and state officials as a "tough fix-it order" was supposed to usher in a new era where such firms would clean up inaccuracies and better respond to consumer complaints.

But nearly 25 years after the deal in question was penned with TRW, now known as Experian, and despite two subsequent legislative overhauls, glitches in the credit reporting system remain widespread.

-- Victoria Finkle in American Banker

http://www.americanbanker.com/news/law-regulation/can-the-credit-bureaus-finally-be-tamed-1075253-1.html?zkPrintable=1&nopagination=1
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HUD's Social Engine

......market pricing is now considered discrimination.

In fact, any neighborhood that doesn’t meet with the approval of a demographic spreadsheet model in the bowels of some government bureaucrat’s office is considered discrimination. -- Trey Garrison in HousingWire http://www.housingwire.com/blogs/1-rewired/post/34414-huds-social-engineering-is-coming-to-your-neighborhood

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Shared and taken by Luis Armando Oryzuna, Catedral de la Plata. Interior. Buenos Aires. Argentina.

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Freddie and Fannie
When it comes to the question of how much private capital is necessary in the system, the memo actually suggests 300 to 400 basis points (3% to 4%). Previously, 10% capital was suggested. It should be noted that the GSEs have sent $228 billion cash to Treasury so far, which is more than 400 basis points, if it had been retained. -- David Sims in SeekingAlpha.com
http://seekingalpha.com/article/3120136-fannie-and-freddie-a-new-leaked-treasury-memo-surfaces
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Hud fails to deliver results, fails mission
“Our reviews of public and Indian housing programs since 2012 have identified a number of areas in which PIH could strengthen its program assessments, increase efficiencies, and enhance collaboration efforts. HUD has made progress in implementing some of our recommendations, but additional actions are needed to address others.” Daniel Garcia-Diaz, GAO’s director of financial markets and community investment. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34443-housing-subcommittee-hud-fails-to-deliver-results-fails-mission
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Shared by James Harrison, taken by Joao Leitao, Machuca Church, Atacama Desert

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“Over the last five months we’ve seen homeowners continually value their homes higher than appraisers,” said Bob Walters, Quicken Loans chief economist. “While each local market has a different story to tell, a large part of this perception gap is likely due to the normalization of home prices. After about a year of home values trending upward, it takes some time for many homeowners to realize home values are stabilizing in their neighborhoods.” -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34471-chasm-developing-between-homeowner-appraiser-opinions
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There were a total of 597,589 U.S. properties with foreclosure filings — default notices, scheduled auctions and bank repossessions — in the first half of 2015, down 13% from the previous six months and down 3% from the same time period in 2014, according to RealtyTrac. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34489-foreclosure-starts-at-a-10-year-low-in-first-half-of-2015
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Shared by Cristi Banciu, taken by CAANDesign

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The good and humorous people at SelfStorage.com have come up with an infographic that shows exactly how the characteristics of newly built homes have changes in two decades. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34486-this-1-graphic-shows-how-newly-constructed-homes-have-changed-in-just-20-years

Facebook Fan Page: Yes or No for MLO's and Real Estate Agents

noreply@blogger.com (Maine Coon Cats) — Tue, 14 Jul 2015 21:08:00 +0000

Facebook Fan Page: Yes or No for MLO's and Real Estate Agents
http://mortgagenewsnetwork.com/hash-it-out-facebook-fan-page-worth-it
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Mortgage rates stopped their upward trend and dropped back down due to global uncertainty, the latest Freddie Mac Primary Mortgage Market Survey said. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34435-home-sales-reach-8-year-highs-but-what-comes-next
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Shared by Archilovers, #Project of the #Week: Casa Brutale, by OPA Open Platform for Architecture:http://bit.ly/1gnKoCS

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Does a college degree help toward buying a home?

....does that debt burden hinder the ability to buy a home or does the higher income associated with a degree make it easier to save?

In not-so-hot housing markets, the degree is not as helpful. In hotter markets, the degree is nearly essential.

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Nothaft quoted a study from the National Association of Realtors that said that the number of U.S. homebuyers who identified as international dropped to 2% during the first four months of 2015. This is down from 2.5% a year earlier, a 19% decline.

As for why there is a drop, about three-fourths of real estate agents who work with international clients report that changes in foreign exchange rates have a moderate to very significant effect on foreign buying. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34453-corelogic-foreign-buyers-back-off-us-housing-market

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Shared by Archilovers, Cliff House, unrealised proposal by Modscape. A moular home clinging to the side of a cliff: http://bit.ly/1rVVgfx

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Nat'l Real Estate Post:
67% of buyers are not pre-approved.
http://thenationalrealestatepost.com/half-of-fthbs-are-not-pre-approved/
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Obama addressed last week’s announcementby the U.S. Department of Housing and Urban Development of the “final rule” on Affirmatively Furthering Fair Housing, which will “equip communities that receive HUD funding with data and tools to help them meet long-standing fair housing obligations in their use of HUD funds.” (This means that HUD can coerce local suburban counselmen and other elected officials to change zoning at any time, in any place.) -- Ben Lane in HousingWire http://www.housingwire.com/articles/34459-obama-new-fair-housing-rule-will-help-further-american-dream
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Shared by Juwai. Florida was the top choice state for foreigners. Chinese buyers lead with US$28.6BN.http://buff.ly/1fj5TVt #realestate

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As of May 2015, the national foreclosure inventory included approximately 491,000, or 1.3%, of all homes with a mortgage compared with 676,000 homes, or 1.7%, in May 2014.

This is the lowest foreclosure rate since December 2007. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34466-corelogic-total-foreclosure-inventory-drops-to-lowest-since-december-2007

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Fannie Mae launched its new homebuyer application HOME that educates future homeowners about the steps and responsibilities of buying and owning a home.

Dashboard and checklist to track their progress

Four financial calculators: Estimate affordability, Calculate mortgage payment, Plan and budget for a down payment, Learn how paying ahead can save money and reduce loan payback times

HUD-approved housing counseling agency “locator tool”

Articles, videos, and more

Brena Swanson in HousingWire http://www.housingwire.com/articles/34469-fannie-mae-launches-homebuyer-education-app--------------------------------------------------------
Shared and taken by Luis Armando Oyaruz, Buenos Aires. Argentina. Cabildo.

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International Real Estate Markets Report

noreply@blogger.com (Maine Coon Cats) — Tue, 07 Jul 2015 15:45:00 +0000

International Real Estate Markets Q1 2015 Global Property Index Report
http://list.juwai.com/news/2015/06/juwai-releases-q1-2015-global-property-index-gpi-report?
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The seasonally adjusted Purchase Index decreased 4% from one week earlier. The unadjusted Purchase Index decreased 5% compared with the previous week and was 14% higher than the same week one year ago. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34359-mortgage-applications-drop-as-interest-rates-rise-to-9-month-high
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Shared by James Harrison, taken by ‫ג'קלין ולינוב‬‎, Bruges, Belgium

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Young adults prefer single-family homes, and in fact, 25-34 year-old homeowners are found to be more likely to reside in a single-family home today than their predecessors,Fannie Mae’s latest Housing Insight report showed. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34367-millennials-demand-single-family-homes
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Just under a quarter – that is 24.6% – of all single family home and condo sales in May were all-cash purchases, down from 28.5% in the previous month and down from 30.4% a year ago to the lowest level since November 2009,RealtyTrac reports. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34366-realtytrac-all-cash-sales-at-lowest-since-late-2009
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Shared and taken by Luis Armando Oyarzun, Estilos . Buenos Aires. Argentina.

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The housing forecast for the second half of 2015 fails to show any positive data, with trends predicted to go downhill.

According to the latest market report from analytics firm Clear Capital, nationally, the data is more of the same. Data through June looks similar to data through May 2015, with no change in quarterly growth at 0.6% and a slight drop of 0.1% in yearly growth, from 5.3% to 5.2%.

What’s worse is that the best of the year is already past since the spring and summer seasons typically reflect the peak of the housing demand cycle. And 0.6% quarterly growth is a foreboding sign of how the remainder of 2015 may play out, the report explained. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34390-clear-capital-housing-the-second-half-of-2015-not-so-hot

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Nat'l Real Estate Post:
Jobs created: 223K
Jobs lost: 60K
Unemployment rate: 5.3%
We now have the lowest job participation rate since 1977.
http://thenationalrealestatepost.com/how-greece-impacts-rates/
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Shared by Juwai, Miami Flordia, USA

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The May 2015 international trade deficit increased 2.9 percent from April, to $41.9 billion. Exports decreased 0.8 percent to $188.6 billion, and imports fell 0.1 percent to $230.5 billion. -- US Department of Commerce
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Newsletter
Moreover, wages were flat in June, with average hourly earnings hovering at $24.95. Average hourly earnings of private-sector production and nonsupervisory employees edged up by 2 cents to $20.99 for the month. That said, while wages showed no movement in June, that might change given difficulties employers are having. -- Brian Daiker for Movement Mortgage, brian.daiker@movement.com
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Shared by Bored Panda, New York-based artist Ray Bartkus has created a beautiful mural in the Lithuanian city of Marijampolė designed to use the surface of the water as its true canvas. Bartkus intentionally painted it upside-down so that the swimmers, rowers and swans he depicted would be reflected right-side-up onto the river Šešupė, which flows through the city’s center.

USDA Raising Fees

noreply@blogger.com (Maine Coon Cats) — Mon, 06 Jul 2015 20:01:00 +0000

The price that borrowers pay for a 0% down payment loan from the U.S. Department of Agriculture’s Rural Housing Service is reportedly set to rise later this year.

According to a report from Bloomberg, the USDA will raise the upfront feed paid by buyers for a 0% down loan from 2% to 2.75%. -- Ben Lane in HousingWire http://www.housingwire.com/articles/34349-usda-reportedly-raising-guarantee-fees-for-0-down-mortgages

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For the 10th consecutive year, the homeownership rate in 2014 dropped and is off 0.6 percentage point to 64.5%, according to the 2015 State of the Nation’s Housing report from the Joint Center for Housing Studies of Harvard University.

The decline continued in early 2015 with a first-quarter reading of just 63.7% — the lowest quarterly rate since early 1993. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34294-homeownership-rate-at-ten-year-low

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Shared by Archilovers, White House Beaumaris, Australia: innovative design and building solutions bringing both functionality and aesthetics to the house and its interiors. See more:http://bit.ly/1BfMaQe

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In many major counties, homes are still more affordable than their historic averages, the study found. Major counties still more affordable than their historic averages included Cook County, Illinois (Chicago), Maricopa County, Arizona (Phoenix), San Diego County, California, Miami-Dade County, Florida, and Riverside County in Southern California. -- Ben Lane in HousingWire http://www.housingwire.com/articles/34304-here-are-the-top-10-most-affordable-markets-for-low-down-payment-borrowers
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Personal income in May 2015 increased 0.5 percent. Nominal PCE increased 0.9 percent. Real personal consumption expenditures (PCE) rose 0.6 percent. Nominal disposable personal income (DPI) increased 0.5 percent. Real DPI increased 0.2 percent. The personal saving rate as a percentage of DPI was 5.1 percent in May. -- US Department of Commerce
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Shared by Mohammed Mostafa, Dubai Downtown The Center of Now

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U.S. home prices were up 1% for the month, rising 4.9% on a year-over-year basis, according to Black Knight's latest Home Price Index report, based on April 2015 residential real estate transactions. -- In HousingWire http://www.housingwire.com/articles/34326-black-knight-home-prices-rise-1-in-april-from-march
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Contracts to purchase previously owned U.S. homes rose in May to a nine-year high, indicating recent strength in the real-estate industry will be sustained.

The pending home sales index increased 0.9 percent to 112.6, the highest since April 2006, after a revised 2.7 percent advance in the previous month, the National Association of Realtors said Monday in Washington. The median projection in a Bloomberg survey of economists called for the gauge to climb 1 percent. -- Michelle Jamrisko in Bloomberg News http://www.bloomberg.com/news/articles/2015-06-29/pending-sales-of-u-s-existing-homes-increased-0-9-in-may

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Shared by Oleg Antipov, Tiny house in Tokyo , but with his parking . Japan .

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Barry Habib: Housing markets will depend on inflation and interest rates. http://mortgagenewsnetwork.com/master-markets-week-62915
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Mortgage applications decreased 4.7% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending June 26, 2015. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34359-mortgage-applications-drop-as-interest-rates-rise-to-9-month-high
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Shared by Alket Bibe, Beautiful view Tuscany Italy

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Realtor.com Partners with Airbnb

noreply@blogger.com (Maine Coon Cats) — Mon, 06 Jul 2015 17:22:00 +0000

Realtor.com, Airbnb partner to let homebuyers test-drive the neighborhood

Find out what it’s like to live there first -- Trey Garrison in HousingWire

http://www.housingwire.com/articles/34291-realtorcom-airbnb-partner-to-let-homebuyers-test-drive-the-neighborhood

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The biggest threat on the horizon? Interest rates. Long-term rates are rising fast again, with the 30-year Treasury bond yield hitting a nine-month high of 3.22% today.
If there’s good news for home sellers, it’s that the meat of the spring selling season is over. That means the timing of the rise isn’t as bad as it could have been. But don’t lose sight of the cost of financing – as a real estate stock investor, a home buyer, or a home seller. It holds the key to where the real estate market goes next. -- Mike Larson in Money and Markets http://www.moneyandmarkets.com/healthy-housing-watch-rates-71819?t=ezine#.VZq2YBtViko
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Shared and taken by Valentina Cirasola, Puglia Italy

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Fannie Mae will no longer charge mortgage lenders to submit loans to its Desktop Underwriter automated underwriting system, the government-sponsored enterprise announced Tuesday.

The decision follows a similar move by Freddie Mac, which stopped charging fees for its Loan Prospector AUSearlier this month. Fannie Mae will also roll out an update to EarlyCheck, the loan-level data verification portal it launched in 2010. The update will improve data standardization to make it easier for lenders to submit loans for sale, according to a Fannie Mae press release. -- Collin Wilhelm in National Mortgage News http://www.nationalmortgagenews.com/news/technology/fannie-matches-freddie-makes-desktop-underwriter-free-1054273-1.html

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One survey by Dallas-based Axiometrics listed the average metro Atlanta rent at nearly $1,000 per month for a two-bedroom unit, and apartment vacancy at its lowest point since 2001. Apartment List breaks down the averages to $1,290 for a two-bedroom in Atlanta, $1,350 in Dunwoody and $990 in Duluth. J. Scott Trubey in the Atlanta Journal-Constitution http://www.nationalmortgagenews.com/news/origination/metro-atlanta-rents-rise-amid-apartment-boom-1054030-1.html
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Shared by James Harrison, taken by Travis Hunt, Venice Italy

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Chinese buyers are among those picking through the wreckage of Greece’s real estate market on the hunt for overlooked gemsThat’s good news for Greeks who want to sell. On Juwai.com, Greek property marketers are advertising everything from inner-city apartments to luxurious villas. That’s not to mention plots of land, commercial buildings, apartment buildings, hotels and resorts.

The most expensive home on the market at the moment is this US$28 million hill-top villa, listed by George Riginos of Riginos Realty. If it has a monastic feel to it, that’s because the site was once a monastery.

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Chinese Real Estate Firms Using Foreigners to Sell Homes

Caucasian-looking foreigners in China are earning some extra buck as they pose as celebrities and business tycoons for real estate companies. -- By Juwai http://www.hngn.com/articles/88182/20150430/chinese-real-estate-firms-using-foreigners-sell-homes.htm

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Shared by James Harrison, taken by Sig Nordal Jr., Rocamadour, France

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Sales of new single-family houses in May 2015 were at a seasonally adjusted annual rate of 546,000, which is up 2.2% from April, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34275-may-new-home-sales-gain-22-from-april
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"Many low-down-payment borrowers — including first-time home buyers — are returning to the market, boosting housing but raising concern among skeptics who worry about the risk of such mortgages," writes Joe Light of The Wall Street Journal. -- Dan Weil in NewsMax http://www.newsmax.com/Finance/StreetTalk/housing-down-payment-mortgages-subprime/2015/06/22/id/651683/
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Shared by Juwai, China 's #2 real estate developer Vanke buys historic NYC Bush Tower for US$125MN

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Real gross domestic product (GDP) decreased at an annual rate of 0.2 percent in the first quarter of 2015, according to today’s third estimate. -- US Department of Commerce

Nobody Expected Millenials!

noreply@blogger.com (Maine Coon Cats) — Tue, 23 Jun 2015 22:31:00 +0000

Nobody expected MILLENIALS!
"Nobody, not in academia or any public agency, got this right. The millennial behavior is shocking to many," Ikhrata said. "They're not in a hurry to get their licenses. They don't like to drive as much as we do. They like to carpool, bike and walk if they can. We missed that because none of us expected the technology to move so fast." -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34263-southern-california-was-not-ready-for-millennials
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While Capital Economics is forecasting housing starts to surge by almost 40% over the next few years, reaching 1.5 million by the end of 2017, they’re not so sure the industry will see a return to pre-recession 2006 levels. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34246-will-homebuilding-ever-return-to-the-highs-of-2006
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Shared by Henry Olde Lion, Kharkov Ukraine https://fbcdn-sphotos-d-a.akamaihd.net/hphotos-ak-xpa1/t31.0-8/10854968_351917938333013_2237801053516132534_o.jpg

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First-time buyers boost existing-home sales 5.1% in May

Fueled partly by an increase in the share of sales to first-time buyers, existing-home sales increased in May to their highest pace in nearly six years, according to the National Association of Realtors. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34260-first-time-buyers-boost-existing-home-sales-51-in-may
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So why the crazed obsession with this age group?

It’s because we are officially the largest generation, and while we may not have the greatest purchasing power at the moment, that doesn’t mean we won’t eventually.

“Why you’re seeing the fervor now is just where millennials are headed — out from the younger part of their life stage to where they’re in their first profession, they’re getting married, having children and influencing more spending,” said Christine Barton, a senior partner and managing director at the Boston Consulting Group.

As a result, businesses are terrified that if they don’t snare them now, they’ll miss the chance.

-- Brena Swanson in HousingWire http://www.housingwire.com/blogs/1-rewired/post/34265-marketers-are-dissecting-millennials-and-we-dont-like-it
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Taken and shared by Dieter Birr, Kloster Hirsau

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Yesterday, we found out that existing home sales jumped 5.1% to a seasonally adjusted annual rate of 5.35 million. That was the best reading since November 2009, and it easily topped estimates for 5.26 million.

Median home prices also climbed almost 8% from a year earlier, while the “months supply at current sales pace” gauge of inventory sank to 5.1. That’s generally consistent with a modest sellers’ market.
The biggest threat on the horizon? Interest rates. Long-term rates are rising fast again, with the 30-year Treasury bond yield hitting a nine-month high of 3.22% today.
-- Mike Larson in Money and Markets newsletter
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“A solid increase in the sales pace in May, actually the fastest pace since a federal-government-initiated first-time-buyer program in November 2009, is consistent with the strong jobs market, historically low layoffs, and rising compensation for workers. Another contributing factor may be relaxed down-payment requirements recently implemented by Fannie Mae and Freddie Mac,” MacEachin said.

He is, however, concerned about prices and the concentration of the sales improvement in the higher price ranges. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34266-concerns-lurk-beneath-the-good-news-in-may-existing-home-sales

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Shared by James Harrison, taken by Bill Meagher, Torre de Belem Lisbon Portugal

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The director of “If Loving You is Wrong” and “The Haves and the Have Nots” is entering the real estate market and listed his home in Atlanta for $25 million, according to an article in Zillow (Z).
The 34,688-square-foot mega-mansion sits on 17 mostly wooded acres along the Chattahoochee River. Its resort-style, infinity-edge pool calls to mind California’s Hearst Castle, while marble arches along a hallway inside the home seem more “Game of Thrones.” -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34269-tyler-perry-lists-atlanta-home-for-25-million
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Real consumption expenditures have yet to show signs of a significant pickup from a slowdown in winter.
Business fixed investment fell in 2015Q1 and its current growth appears to be modest. There are tentative signs of moderate improvement in housing market conditions.
Payroll growth again was solid in May. The unemployment rate, labor force participation rate, and employment-population ratio edged up slightly.
Inflation remained well below the FOMC's longer-term objective.
Global sovereign bond yields rose further in the past month. U.S. equity prices and oil prices both fluctuated in narrow ranges. The dollar was little changed on net. -- Federal Reserve Bank of NY http://www.newyorkfed.org/research/snapshot/index.html

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Shared by Archilovers, Ecocapsule, Bratislava / Slovakia / 2015

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Sales of new single family houses in May 2015 were 546,000 at a seasonally adjusted annual rate (SAAR), up 2.2 percent from April’s revised rate and up 19.5 percent from May 2014. -- U.S. Department of Commerce

Twitter Tips for the Housing Industry

noreply@blogger.com (Maine Coon Cats) — Tue, 23 Jun 2015 21:55:00 +0000

Twitter Tips by Gary Smith
http://todayshomeinspector.com/google-and-twitter-together-again/
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What not to do with other people's money:

The state funneled some of that money, $331 million, to programs it deemed more in need of attention. It used, rather stole, this money intended for homeowners to give it to someone else.

And on Friday, a judge ruled they have to give it back. Better late than never, but really California, now other states are going to get sued for the exact same thing. -- Jacob Gaffney in HousingWire http://www.housingwire.com/blogs/1-rewired/post/34197-heres-where-california-went-all-wrong-with-the-national-mortgage-settlement

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Shared by Juwai, taken by Brandon Leibowitz, Hyatt Hotel in Shanghai China

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The first mortgage default rate recorded a historical low, dropping nine basis points to 0.74%, as more homebuyers pay their mortgages. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34202-more-homeowners-are-paying-their-mortgages-on-time
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Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,275,000. This is 11.8% above the revised April rate of 1,140,000 and is 25.4% above the May 2014 estimate of 1,017,000. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34198-housing-starts-drop-but-permits-see-big-surge-in-may
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Shared and taken by Norbert Metz, Norweign farm house.

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Building permits in May 2015 were at a seasonally adjusted annual rate (SAAR) of 1,275,000, up 11.8 percent from the revised April rate and up 25.4 percent from May 2014. -- US Department of Commerce
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Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 126,868 U.S. properties in May 2015, up 1% from the previous month and up 16% from a year ago to a 19-month high, according to the latest report from RealtyTrac. --Trey Garrison in HousingWire http://www.housingwire.com/articles/34224-foreclosure-activity-hits-19-month-high-on-rise-in-reos
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Share by Juwai, Chinese nomads

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Average home prices rose month over month.

http://us.spindices.com/indices/real-estate/sp-case-shiller-us-national-home-price-index 168.03 0.80 %▲

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10 tips for first time homebuyers:

Ray Brousseau, executive vice president of Carrington Mortgage Services’ mortgage lending division, outlined 10 tips to help first-time homebuyers navigate the market:

1. Know what you can afford .......

by Brena Swanson in HousingWire http://www.housingwire.com/articles/34238-tips-for-first-time-homebuyers

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Shared and taken by Xalima Miriel, Monjardin Vineyards, Spain

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Homes sat on the market for 28 days in May, down from 32 days in April. In another indication of homebuyers' speed, 35.6% of homes went under contract within two weeks of going on the market. That's just shy of the peak of 35.8% in May 2013, Redfin said. -- Andy Peters in National Mortgage News
http://www.nationalmortgagenews.com/news/origination/homebuyers-moved-faster-with-purchases-in-may-redfin-1053893-1.html

Reach Millenials Online

noreply@blogger.com (Maine Coon Cats) — Tue, 16 Jun 2015 22:00:00 +0000

Why millenials won't buy homes:

In her opening remarks, Swanson discussed initiatives among mortgage lenders to move more operations online. Based on discussions she has with these institutions, her advice is to actively engage millennials via social media. "Meet us online," she said, adding "whether you like it or not, we'll tell you what we think."

And during his presentation, Mark Palim, vice president for applied economic and housing research at Fannie Mae, gave the big reasons why millennials don’t want to buy homes. The primary reason? Perception that they won't qualify and can't meet the down payment. -- Jacob Gaffney in HousingWire http://www.housingwire.com/articles/34097-heres-why-millennials-arent-buying-homes

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Nat'l Real Estate Post:
The secret of using Yelp to build your business. And it's free!
http://thenationalrealestatepost.com/the-secret-of-using-yelp/?
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Shared by James Harrison, Dubrovnik Croatia

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Mortgage rates are officially back above 4% for the first time in over seven months, Freddie Mac’s Primary Mortgage Market Survey found. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34159-freddie-mac-mortgage-rates-finally-drift-back-above-4
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As Nela Richardson, chief economist at Redfin, so eloquently said in the panel, millennials, unlike other generations, are willing to wait on the sidelines until a house comes up that they truly love. -- Brena Swanson in HousingWire http://www.housingwire.com/blogs/1-rewired/post/34162-trending-thursday-millennials-millennials-cfpb-millennials
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Shared by James Harrison, Singapore Gardens by the Bay

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Interested in seeing where today's Americans are packing up and relocating to? SpareFoot was, and that's why they put together a statistical graphic of where the U.S. population is booming.
Communities to the south and west dominate recent population growth trends, with a few exceptions. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34174-this-1-chart-shows-exactly-where-americans-are-moving-and-buying-homes
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Shared by James Harrison, taken by Kamal Bennani , Sacre Coeur, Paris

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I had to include this YouTube video! What every high end home needs=)
https://www.youtube.com/watch?v=Gw9jHC9zRJA&feature=youtu.be
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Home builder confidence in the market for newly built, single-family homes is at its strongest level in a year, according to the latest Housing Market Index (HMI) released by the National Association of Home Builders (NAHB) and Wells Fargo.

June’s HMI rose five points to a level of 59, its highest reading since September 2014. All three HMI components enjoyed significant spikes this month: the component measuring current sales conditions jumped seven points to 65, while the index charting sales expectations in the next six months increased six points to 69 and the component tracking buyer traffic rose five points to 44. -- Phil Hall in National Mortgage Professional, http://nationalmortgageprofessional.com/news/54502/what-crisis-home-builder-confidence-yearly-high?

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Shared by Valentina Cirosola, taken by Gary Lo, San Francisco at night.

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Where does your state rank on mortgage down payments?

Down payment percentages for conventional 30-year fixed rate purchase mortgages decreased in the first quarter to an average of 16.98%, down from 17.59%, in fourth quarter 2014. -- HousingWire http://www.housingwire.com/articles/34189-where-does-your-state-rank-on-mortgage-down-payments

noreply@blogger.com (Maine Coon Cats) — Tue, 16 Jun 2015 19:28:00 +0000

Quicken Loans, its decision to sue the Department of Justice and theDepartment of Housing and Urban Development and the lawsuit’s impact on the industry:
“This is about extracting a payment settlement and getting us to suggest that our company did something wrong,” Emerson told HousingWire. “We’re simply not going to do that. We did not commit fraud against the government and we’re not going to cave to the DOJ’s demands and falsely claim that.” -- Ben Lane in HousingWire http://www.housingwire.com/articles/34073-quicken-loans-ceo-the-fha-has-been-hijacked-by-the-department-of-justice
( Some senator has just put in a bill to make the CFPB accountable to Congress. Can't remember who, though it might be David Perdue from GA.)
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Mortgage applications decreased 7.6% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending May 29, 2015. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34075-mortgage-applications-fall-again-in-last-week-of-may
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Shared and taken by Xalima Miriel, Dubrovnik Crotia.

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The ruling, which will benefit commercial lenders, says that bankruptcy courts may not “strip off” junior liens on property if the value of the property used as collateral is less than the amount the debtor owes to the senior lienholder — in other words, the junior mortgage lien is “completely underwater.” -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34051-supreme-court-rejects-2nd-lien-stripping-in-chapter-7-bankruptcies
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Personal income in April 2015 increased 0.4 percent. Nominal and real personal consumption expenditures (PCE) were virtually unchanged. Nominal disposable personal income (DPI) increased 0.4 percent. Real DPI increased 0.3 percent. The personal saving rate as a percentage of DPI was 5.6 percent in April. -- US Department of Commerce
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Shared by Archilovers, taken by TG-Studio, St Pancras Penthouse Apartment, London.

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The U.S. Census Bureau of the Department of Commerce announced today that construction spending during April 2015 was estimated at a seasonally adjusted annual rate of $1,006.1 billion, 2.2% (±1.5%) above the revised March estimate of $984.0 billion. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34048-construction-spending-up-22-in-april
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Distressed sales—real estate-owned and short sales—accounted for 12.1% of total home sales nationally in March 2015, a 3.2 percentage point drop from March 2014 and a 1.9 percentage point decrease from February 2015, according to the March report from CoreLogic. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/34120-corelogic-distressed-sales-accounted-for-12-of-home-sales-in-march-2015
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Shared by James Harrison and Lilia Serejo, someplace in Turkey

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Why millenials won't buy homes:

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This is another in a continuing series of stories exploring this downturn and the challenges and opportunities this presents for West Texas.

Fourth-grade teacher Michael McMillan hit a breaking point about three months ago in the form of another notice of a rent increase at his Cimarron Place apartment.

He still paid less than the citywide average, with monthly rent he said was about $900. But that was still almost twice as much as the lifelong Odessan paid when he moved in four years ago.

"My apartment rent keeps going up no matter what the oil does," McMillan said. "I'd rather spend my money on something I can actually own." -- Corey Paul in Tribune News Service

http://www.nationalmortgagenews.com/news/origination/home-building-booms-in-west-texas-despite-oil-drop-1052624-1.html?

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Shared by Juwai, Chinese pavilion at World Fair at Milan World Expo.
http://buff.ly/1AVjRAG

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• Appraiser opinions of values remained higher than homeowner estimates in 18 of the 27 metro areas measured.
• In much of the country, home values remained idle. Values rose enough in the Western Region to push the total national average higher than in January.
Read more at http://www.quickenloans.com/press-room/2015/03/10/appraiser-home-value-opinions-fall-below-homeowner-estimates-for-first-time-in-18-months/#lMihqu5wDhbEkvrt.99

Real Estate Cartoon

noreply@blogger.com (Maine Coon Cats) — Sun, 31 May 2015 23:06:00 +0000

Creation of Swamp Cartoons

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Nat'l Real Estate Post:
TRID warning for real estate agents. Will cause delays. Come August 1st, 2015 there will be new rules regarding lending disclosures that will cause delays. All real estate agents MUST be made aware of this ASAP.
http://thenationalrealestatepost.com/trid-warning-for-realtors/?
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Shared by Juawai, Morrocco.

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Creative destruction rises in the near suburbs around the country as an increasing number of builders are buying up modest suburban homes just to knock them down and build the kind of bigger homes that people want. -- Trey Garrison in HousingWire
http://www.housingwire.com/blogs/1-rewired/post/34022-trending-thursday-more-mcmansions-ferguson-home-values-and-more
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According to a release from First American, the new site, DataTree.com, is built on the industry’s “largest database of property and homeowner information and document images.” The company said that DataTree’s database will contain 99% of U.S. housing stock and include more than 5.5 billion recorded document images.
...“built to be the fastest, most comprehensive and easiest to use property research solution on the market.” -- Ben Lane in HousingWire http://www.housingwire.com/articles/34026-first-american-launches-most-comprehensive-property-research-website
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Shared by Juwai, St. Bartelemy.

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The 15 hottest markets for homebuyers and sellers this spring

California dominates list

Brena Swanson in HousingWire

http://www.housingwire.com/articles/33755-the-15-hottest-markets-for-homebuyers-and-sellers-this-spring

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The economy contracted 0.7% in the first quarter of 2015, revealing the truth behind how tough the start of the year was for the market, according to the "second" estimate released by the Bureau of Economic Analysis Friday. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/34032-gdp-contracts-07-reinforcing-weak-start-to-1q
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Shared by Archilovers, taken by Fedde DeWitt, W.I.N.D House, Netherlands

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Nat'l Real Estate Post:
CNN released and article that points out that renting is outpacing home ownership costs.
http://thenationalrealestatepost.com/renting-is-getting-very-expensive/?
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The gap between stagnant incomes and rising rents in many parts of the country is growing out of control. Renter households need to make $19.35 an hour working full time to afford a two-bedroom unit, which is $4 more than the estimated average wage of workers, an article in The Wall Street Journal said.

Rental affordability has grown as a challenge in recent years due to a number of factors, including increasing demand as more people choose to rent or are forced to because they can’t get mortgages; a relative lack of rental construction in recent years in comparison to past cycles; and stagnant wage growth.

Brena Swanson in HousingWire http://www.housingwire.com/articles/33956-minimum-wage-workers-cant-afford-rent
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Shared by Darja Vizjak, Mozirski gaj, Slovenia.

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Quicken Loans secured the first victory in its battle against the U.S. Department of Justice and the Department of Housing and Urban Development when a federal judge ruled that Quicken’s lawsuit against the government will be heard before the government’s case against Quicken is heard in a separate court. -- Trey Garrison and Ben Lane in HousingWire http://www.housingwire.com/articles/34042-quicken-loans-wins-first-round-in-court-battle-versus-doj-hud

Chinese Architectural Nod to Star Trek

noreply@blogger.com (Maine Coon Cats) — Sun, 31 May 2015 22:08:00 +0000

https://www.youtube.com/watch?v=dbl45otRBiw
Chinese nod to Star Trek
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Nat'l Real Estate Post:
The lunatics have taken over the asslyum! http://thenationalrealestatepost.com/have-the-lunatics-taken-over-the-assylum/?
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Shared by Juwai, Tour Odeon in Monaco

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Chinese builder puts up 57-story skyscraper in 19 days

http://realty.economictimes.indiatimes.com/news/industry/chinese-builder-puts-up-57-story-skyscraper-in-19-days/47108262

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....one brokerage in Seattle appears to have had it with the whole MLS/online listings thing as it stands, and dropped out of their local multiple listings system. Sounds crazy, maybe not at all.

But Quill Realty sees a major advantage for sellers by leaving the MLS. The new terms could make it more attractive for sellers to list a house — especially important in Seattle's hot housing market where supply is not keeping up with demand.

Trey Garrison in HousingWire http://www.housingwire.com/blogs/1-rewired/post/33986-monday-morning-cup-of-coffee-time-to-cut-the-mls-cord
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Shared by James Harrison, taken by Maria Herdot, Budapest

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Home Price Index now just 8.4% below June 2006 peak

The month of March saw the largest monthly gain in home prices in nearly two years, according to a new report fromBlack Knight Financial Services (BKFS), a Fidelity National Financial (FNF) company.

Black Knight’s latest Home Price Index, released Tuesday, shows that home prices were up 1.2% in the month of March and up 4.8% on a year-over-year basis. Those totals represent the largest monthly gain in national home prices since June 2013. -- Ben Lane in HousingWire http://www.housingwire.com/articles/33985-black-knight-home-prices-see-largest-monthly-gain-in-two-years

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Sales of new single family houses in April 2015 were 517,000 at a seasonally adjusted annual rate (SAAR), up 6.8 percent from March’s revised rate and up 26.1 percent from April 2014. -- US Department of Commerce
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Shared by Uros Kralj, taken by Richard Beresford Harris Natural History Museum, London England.

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U.S. Sen. David Perdue (R-GA) has introduced the Consumer Financial Protection Bureau Accountability Act of 2015. The legislation will make the CFPB accountable to the American people by bringing it under the Congressional appropriations process. Given the expansive reach of the CFPB, Senator Perdue’s bill will provide critical Congressional oversight. In March, Sen. Perdue offered a similar amendment that was included in the final 2015 Budget Resolution.

“The Consumer Financial Protection Bureau was spawned from the disastrous Dodd-Frank financial regulation law,” said Sen. Perdue. -- In NationalMortgageProfessional.com http://nationalmortgageprofessional.com/news/54158/georgia-senator-introduces-cfpb-accountability-act?

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Although the argument rages as to whether or not tighter mortgage lending standards have limited consumer access to credit, there can be no doubt that most mortgages are originated with the intention of selling them onto the secondary market. Thus, they are originated under the terms of GSE or Ginnie Mae standards. It would seem that even the free market has been flowing toward the security of the government guarantee.
The cost of a mortgage would likely go up. The result to the consumer would be anything but positive. Perhaps the consumer would be safer in a limited number of respects; but that consumer would also, in many cases, be frozen out of the home-buying market. -- Joseph Murin in HousingWire http://www.housingwire.com/blogs/1-rewired/post/34000-caution-gse-reform-could-have-serious-unintended-consequences

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Rates to Rise this Year

noreply@blogger.com (Maine Coon Cats) — Sun, 24 May 2015 19:18:00 +0000

As predicted by many economists, the Federal Reserve is indeed considering raising the Federal Funds Rate later this year, Fed Chair Janet Yellen said Friday. -- Ben Lane in HousingWire http://www.housingwire.com/articles/33981-yellen-if-economic-improvement-continues-fed-will-raise-rates-in-2015
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Housing affordability took another hit as rents outpaced home values in April for the first time in years, according to the latest Zillow Real Estate Market Report. Last month’s home values recorded a three percent year-over rise to $178,400, but rents increased four percent year-over-year in the same period to $1,364. In some major markets, rents have been running far ahead of home values for nearly a year–San Francisco’s rents have been faster than home values in July 2014, while Boston’s annual rental growth has outpaced home value appreciation since August 2014. -- Phill Hall in NationalMortgageProfessional.com http://nationalmortgageprofessional.com/news/54113/rents-rise-home-sales-and-rates-stagnate?+Rates+Stagnate
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Shared by James Harrison, taken by Joao Neves, The Golden Rule

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2 reasons the housing market is underacheiving

1. Supply is constrained

2. Demand is lagging

Mark Flemming in HousingWire

http://www.housingwire.com/blogs/1-rewired/post/33929-reasons-the-housing-market-is-underacheiving

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Building permits in April 2015 were at a seasonally adjusted annual rate (SAAR) of 1,143,000, up 10.1 percent from the revised March rate and up 6.4 percent from April 2014. Housing starts in April 2015 were at a SAAR of 1,135,000, up 20.2 percent from March and up 9.2 percent from April 2014. -- Bureau of Economic Analysis
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Shared and taken by Debbee Whitesell, Alberta Legislature Building is in Edmonton, Alberta

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The National Association of Home Builders/Wells Fargo sentiment gauge dropped to 54 this month from 56 in April, figures from the Washington-based group showed Monday. Readings greater than 50 mean more respondents report good market conditions. The median forecast in a Bloomberg survey called for an increase to 57. -- Bloomberg News http://www.nationalmortgagenews.com/news/origination/confidence-among-homebuilders-unexpectedly-declined-in-may-1051186-1.html?
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On the list are all four large metro areas in Texas — Austin, Houston, Dallas and San Antonio — where an oil and gas boom has fueled job growth and population growth, pushing home prices well above their sustainable levels. That boom may also last a little longer, as the state recently put an end to local government's ability to ban fracking.

Home prices in these four markets are also well above their historical peak levels: 26.9% for Austin, 18.3% for Houston, 14.8% for Dallas and 8.4% for San Antonio. Of the other three overvalued metros, Miami, Fla. and Washington, D.C. were on the list in October; Charleston, S.C., is a new addition. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/33940-corelogic-there-are-now-7-hugely-overvalued-housing-markets-right-now

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Shared, taken and designed by Gavin Maddock Design Studio. Pearl Bay Residence, on South Africas’ West coast.

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Contract closings dropped 3.3% to a 5.04 million annualized rate after a 5.21 million pace that was the strongest in almost two years, figures from the National Association of Realtors showed Thursday in Washington. The median forecast of 78 economists in a Bloomberg survey called for a rise to 5.23 million. Prices jumped as the number of houses for sales declined from the same time last year. -- Bloomberg News http://www.nationalmortgagenews.com/news/origination/sales-of-previously-owned-homes-unexpectedly-decline-1051504-1.html?
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RealtyTrac: Foreclosure activity jumps to highest level in 18 months

Trey Garrison in HousingWire http://www.housingwire.com/articles/33957-realtytrac-foreclosure-activity-jumps-to-highest-level-in-18-months

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Shared and taken by MonaX. Tonglu, Zhejiang Province