The 7 Dumbest Big Purchases People Make Houses aren't One of Them
-------------------------------------------------Nat'l Real Estate Post:
Well over the past 4 years they’ve (the CFPB) pretty much had the “enforce now, regulate later” approach to getting things done and industry pro’s have had about enough.
http://thenationalrealestatepost.com/cfpb-accused-of-enforce-now-and-regulating-later-approch/?
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Shared and taken by Dieter Birr, Gernsbach/Black Forest/Germany
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HUD says:
Sales of new single family houses in June 2014 were 406,000 at a seasonally adjusted annual rate, down 8.1 percent from May’s revised rate and down 11.5 percent from June 2013.
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Sales of new single-family houses plummeted in June to an annualized rate of 406,000, at least 20% below most analyst estimates. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/30771-new-home-sales-collapse-erasing-recent-surge
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Shared by Uros Kralj, taken by Amanda Lisa Syers, A Bench in Dresden
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Zillow is seeking to acquire rival Trulia, although both companies are declining to speak about it, Bloomberg is reporting. Together the companies account for 89% of all online real estate listings.
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Nat'l Real Estate Post:
...in today’s show we see the continued decline of the MLS system out there with less than half of all properties sold last hitting the MLS’s.
http://thenationalrealestatepost.com/cfpb-accused-of-enforce-now-and-regulating-later-approch/?
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Shared by Darja Vizjak, taken by Elena Nitu, BLUE CAVE CASTLE , NEGRIL ...JAMAICA
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30 Year Fixed: 4.125%
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APR 4.294%
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15 Year Fixed: 3.250%
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APR 3.453%
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7/1 ARM: 3.125%
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APR 3.634%
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5/1 ARM: 2.875%
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APR 3.365%
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FHA 30 Year Fixed: 3.750%
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APR 5.423%
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Jumbo 30 Year Fixed: 4.125%
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APR 4.277%
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Jumbo 15 Year Fixed: 3.500%
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APR 3.740%
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Jumbo 7 year ARM: 3.250%
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APR 3.651%
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Jumbo 5 year ARM: 3.000%
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APR 3.527%
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“For example, home sales in the $350,000 to $550,000 price range were up 44 percent on a year-over-year basis as of July 2013, but just four months later, they were only up by nine percent in November. Weak sales at the very low end was not a surprise, given the stagnant economy combined with declines in the number of distressed sales and very high home price appreciation for low-priced properties. However, the migration of the slowdown in sales beyond the lower-middle of the price distribution is a concerning development given that higher-priced home sales had been one of the few bright spots in the real estate sales market over the last few years. If the slowdown continues heading into the fall, it indicates that the higher-priced market is entering a new phase where the generally low-rate environment and rapid increases in the stock market are. -- Phil Hall in National Mortgage Professional
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Shared and taken by Valentina Cirsola, Polignano a Mare, Puglia, Italy.
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"With many homeowners on better financial footing, home remodeling has become more popular," said NAHB Remodelers Chair Paul Sullivan, CAPS, CGR, CGP, of Waterville Valley, N.H. "The completion of postponed work has helped remodelers in all regions regain confidence in the remodeling market."
http://nationalmortgageprofessional.com/news50632/remodeling-market-index-three-points
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Bank of America Merrill Lynch concludes Dodd-Frank killed housing
Two analysts at Bank of America Merrill Lynch are celebrating the 4-year anniversary of Dodd-Frank, the financial reform law, by calling it “persistent financial repression.” -- Jacob Gaffney in HousingWirehttp://www.housingwire.com/articles/30798-bank-of-america-merrill-lynch-concludes-dodd-frank-killed-housing
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Shared and taken by Guy Kawasaki
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Black Knight: Home prices tick up 0.9% in May
Continues upward trend
Homes prices continue to trend higher and are now just 11% off the 2006 peak of $268,000. Meanwhile, Colorado and Texas both hit new peaks in May, reaching $269,000 and $195,000, respectively. -- Brena Swanson in HousingWire
--------------------------------------------------Pending home sales drop 7.3% YOY on flat wages, short supply
Biggest drop and biggest miss of 2014 augurs ill for housing -- Trey Garrison in HousingWire
--------------------------------------------------Shared by Uros Kralj, taken by dbaltz100's, Meteora, Greece
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It’s been rumored and discussed for months, but now it’s one step closer to actually happening. The idea of theUnited States Postal Service offering banking services may have seem far-fetched when it was originally floated by the USPS earlier this year, but now there’s a legislative proposal that would authorize the USPS to do just that. -- Ben Lane in HousingWire http://www.housingwire.com/articles/30830-new-legislative-proposal-would-turn-the-post-office-into-a-bank
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Nat'l Real Estate Post:
Now on to the “poor door”. Essentially what we’ve got here is a Manhattan developer that built some multi-million dollar condo’s in a highrise, but in order to be able to get the permit to build he had to have a certain amount of low to moderate income homes in the complex. Well, he figured the rich people wouldn’t want to rub elbows with the poor people while waking through the front door, so he made another door in the alley around the back that people are calling the “poor door”. http://thenationalrealestatepost.com/the-poor-door/?
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