An increasing labor shortage among homebuilders reportedly is causing more new homes to be delivered late, and buyers say they're getting frustrated that builders don't come back to fix common issues such as sticky doors and loose floor tiles after they move in. "Builder tardiness" is a growing problem because the economic downturn drove hundreds of thousands of craftsmen and laborers away from Continue Reading
Archives for July 2014
Mortgage Rates Hover Near Yearly Lows
Fixed-rate mortgages remained mostly unchanged this week, with borrowing costs just slightly above their lows for 2014, Freddie Mac reports in its weekly mortgage market survey. Are low interest rates spooking your potential move-up buyers? Read this:Understanding and Combatting the Rate Lock-in Threat Freddie Mac reports the following national averages with mortgage rates for the week ending Continue Reading
3 Challenges Still Facing the Housing Market
Existing-home sales gained momentum in June, reaching an annual pace of 5 million sales for the first time since October 2013, according to the National Association of REALTORS®’ latest housing report. Rising inventories also are pushing the overall supply of homes for sale toward a more balanced market, with unsold inventories 6.5 percent higher than a year ago, NAR notes. “Inventories are at Continue Reading
Commercial Real Estate Development Growing at a Strong Pace
The commercial real estate development industry grew at the strongest pace since 2011, according to an annual report on the state of the industry released this week by the NAIOP Research Foundation. The report, entitled “The Economic Impacts of Commercial Real Estate” determined that the economic impact realized by the development process rose a significant 24.06% over the previous year, the Continue Reading
Why the Second Half of 2014 Will Be Better Than the First
The housing market has been sluggish in many markets over the past six months, after last year’s double-digit appreciation. But researchers at the real estate brokerage Redfin say they see signs that the housing market is now edging back to normal. In a new report, they say they expect the market in urban areas to regain its footing over the second half of 2014. “The second half will not be Continue Reading
Decline in Foreclosures Reaches ‘Important Milestone’
Foreclosure activity in June was down 16 percent from a year prior, marking the lowest level since July 2006 — before the housing bubble burst — according to RealtyTrac's Midyear 2014 U.S. Foreclosure Market Report. The report showed a much-improved picture: Foreclosure filings, which include default notices, scheduled auctions, and bank repossessions, were down 19 percent in the first half of Continue Reading
Foreign Buyers Up Their Stake in U.S. Housing Market
International buyers continue to flock to the U.S. to purchase and invest in properties. Favorable exchange rates, affordable home prices, and rising affluence abroad is driving interest, according to the 2014 Profile of International Home Buying Activity conducted by the National Association of REALTORS®. From April 2013 through March 2014, total international sales are estimated at $92.2 Continue Reading
Why Low Rates Aren’t Always Good for Housing
Mortgage rates are near historic lows, which is great news for home owners and buyers. But the situation could prove to be a big thorn in the side of the recovery. More than one-third of homes with a mortgage have a mortgage rate below 4 percent, according to estimates provided by CoreLogic, a real estate data provider. Many home owners have taken advantage of low rates recently, fueling a Continue Reading
Top Amenities Buyers Will Make Sacrifices For
Home buyers are showing some willingness to pay more for certain amenities in a home, according to the latest PulteGroup Home Index Survey of more than 1,000 adults ages 25 to 65. Take the Pulse of Buyers' Desires Regional Trends: What Buyers Want Most—and Get Buyers Want 'Green' More Than They Think 2 Things Luxury Buyers Want Most What's surprising is that buyers say they'd give up Continue Reading
HARP 2.0 Refinance Program – Still Available For Homeowners
The HARP refinance program is a program that has allowed millions of homeowners the option to refinance and take advantage of today's low interest rates, with little or no equity in their homes. In addition, the program also has served a need to help homeowners in other difficult situations to refinance as well (such as those who have had a foreclosure, short sale or bankruptcy recently). The Continue Reading
