Even in January, Sales are Strong

Following two weeks of incredibly strong weekly gains, mortgage applications decreased 3.2% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending January 23, 2015. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/32741-mortgage-applications-drop-32-after-two-weeks-of-strong-gains
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Shared by MapsoftheWorld, Baalbek Lebannon

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Washington doesn't know if people living in public housing are needy because local authorities who are supposed to verify income and stop fraud often aren't interested making sure taxpayer money is spent properly. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/32734-public-housing-officials-wont-verify-whether-residents-are-the-truly-needy
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The first wave of 7.3 million homeowners who lost their home to foreclosure or short sale during the foreclosure crisis are now past the seven-year window they conservatively need to repair their credit and qualify to buy a home, according to a new report from RealtyTrac.  -- Trey Garrison in HousingWire http://www.housingwire.com/articles/32716-first-wave-of-boomerang-buyers-become-eligible-for-mortgages
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Shared by Gia Huy Au Duong, Holland

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D.R. Horton's bet on first-time buyers is starting to pay off, and the builder anticipates expansion plans for its entry-level home division will boost both its construction and mortgage lending activities.

The nation's largest builder booked 7,370 home sales in the fiscal-year first quarter ending Dec. 31, up 35% from a year ago. Horton posted net income of $142.5 million in the quarter, up 16% from a year ago, the Fort Worth, Texas, company said Monday.  -- Brian Collins in Origination News

http://www.nationalmortgagenews.com/news/origination/hortons-bet-on-first-time-buyers-paying-off-1043932-1.html?

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The administration has also said that the FHA premium cut could help as many as 2 million borrowers. Those figures were echoed by Department of Housing and Urban Development Secretary Julián Castro in a recent interviewon The Daily Show with Jon Stewart. -- Ben Lane http://www.housingwire.com/articles/32747-moodys-fha-premium-cut-will-increase-home-sales-by-45000-this-year
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Shared and taken by Pasi Hortoma, somewhere in Finland this week.

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The U.S. homeownership rate fell to the lowest in more than two decades in the fourth quarter as many would-be buyers stayed on the sidelines, giving the rental market a boost. -- Bloomberg News http://www.nationalmortgagenews.com/news/origination/homeownership-rate-falls-to-lowest-since-1994-1043967-1.html?
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The agency said the proposal would boost the number of financial institutions able to offer certain types of mortgages in rural and underserved areas while giving them extra time to comply with the qualified mortgage rules. -- Vickie Needham in thehill.com http://thehill.com/policy/finance/231227-cfpb-offers-changes-to-mortgage-rules-for-smaller-lenders
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Shared by Nhu Phuong Pham, The pagoda of Seigantoji and Nachi no Taki Waterfall, Japan

What if Cats Could Buy and Sell Real Estate?

What if cats could buy and sell real estate?
https://www.youtube.com/watch?v=QM5AsuKTME0
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“January’s HMI reading is in line with our forecast as we head into the new year,” said NAHB Chief Economist David Crowe. “Steady economic growth, rising consumer confidence and a growing labor market will help the housing market continue to move forward in 2015.” -- Trey Garrison in HousingWire http://www.housingwire.com/articles/32651-homebuilder-confidence-declines-slightly-in-january
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Shared by Valentina Cirosola, taken by Derya Unutmaz
This is a cool advertisement for toothpaste, the Roman Colosseum sculpted in a tooth.
Artwork by Thai company Illusion.
http://www.illusion.co.th/www.illusion.co.th/Portfolio/Pages/CGI.html#1

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America’s most expensive home goes on the market

The $195 million price tag is “really quite reasonable”

--Brena Swanson in HousingWire http://www.housingwire.com/articles/32647-americas-most-expensive-home-goes-on-the-market

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Mortgage applications increased 14.2% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending January 16, 2015.

This comes a week after an incredible 49% surge. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/32664-mortgage-apps-continue-gains-up-142

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Shared by Lynsey Eve Valdez, taken by Gary Lo Chinatown in San Francisco

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From the Department of Commerce:
Building permits in December 2014 were at a seasonally adjusted annual rate (SAAR) of 1,032,000, down 1.9 percent from the revised November rate and up 1.0 percent from December 2013.
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Nat'l Real Estate Post:
Disparate Impact-  The fact that the NFL is mostly black players is not discrimination.  But, if a builder builds in a low income neighborhood, the Supreme Court is deciding whether or not the housing is discriminating simply because the tenants are not evenly, racially divided.
http://thenationalrealestatepost.com/disparate-impact-coming-to-head-at-supreme-court/?
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Shared and taken by Jasbir S Randhawa, Captured in New Delhi

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Zillow: Will owners of low-end homes start moving up?

--Brena Swanson in HousingWire http://www.housingwire.com/articles/32693-zillow-will-owners-of-low-end-homes-start-moving-up

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Purchases of previously owned homes rose less than forecast in December as higher prices limited sales to first-time buyers.

Contract closings increased 2.4% to a 5.04 million annual rate from a 4.92 million pace in the prior month, figures from the National Association of Realtors showed Friday in Washington. The median forecast of economists in a Bloomberg survey called for a rise to 5.08 million. Prices picked up while inventories fell. -- Bloomberg News

http://www.nationalmortgagenews.com/news/origination/sales-of-existing-homes-rise-less-than-forecast-1043887-1.html?

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Shared and taken by Sandy Somewhere, Five Miles From Home

Subdivisions are Springing UP Everywhere

Builders are optimistic and building. Buyers are optimistic and buying.  Sellers are starting to catch on. http://www.housingwire.com/articles/32648-builder-confidence-and-housing-starts-sales-and-prices-headline-the-week
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Freddie is backing lenders willing to originate multifamily loans between $1 million and $5 million, and it intends to purchase between $1 billion and $1.5 billion from participants this year. Each lender is expected to deliver $50 million to $75 million per quarter after an initial ramp-up phase, which varies in length by lender. -- Matt Scully in National Mortgage News http://www.nationalmortgagenews.com/news/secondary/freddie-to-embrace-bank-lenders-in-affordable-housing-push-1043583-1.html?
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“The drops came after a period of sustained gains, and the decline in existing home sales in particular looks extreme relative to the pending home sales measure. In any case, with employment growth strong, consumer confidence hitting multi-year highs and mortgage interest rates at 18-month lows, home sales will pick up again in 2015,” writes Paul Diggle, property economist with Capital Economics. “The government-mandated 50 basis point reduction inFHA annual mortgage insurance premiums should provide a further small fillip to housing market activity, but won’t be a game-changer.” -- Trey Garrision in HousingWire http://www.housingwire.com/articles/32583-housing-sales-weak-heading-into-2015
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Shared by Ivanka D., Chile

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Nat'l Real Estate Post:
CFPB says almost half of the buyers who apply for a home mortgage don't shop around for  said mortgage.  Three out of four buyers apply with only one lender. And three out of four buyers don't have savings.
http://thenationalrealestatepost.com/cfpb-has-ridiculous-notion-about-consumers/?
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According to the MBA, the Market Composite Index for the week ending Jan. 9 increased by 49.1 percent on a seasonally adjusted basis from one week earlier, the largest single weekly gain since 2008. -- Phill Hall in National Mortgage Professional http://nationalmortgageprofessional.com/news/52384/new-mortgage-apps-and-refis-skyrocket-latest-weekly-data?
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Shared and taken by Norbert Metz, The light will win.

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A new study revealed that there is demand from homebuyers for solar energy homes, finding that buyers consistently have been willing to pay more for homes with photovoltaic energy systems. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/32605-solar-power-will-homeowners-pay-the-extra-costs
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Cash sales made up 35.5% of total home sales in October 2014, down from 38.7% in October 2013, according toCoreLogic (CLGX). -- Trey Garrison in HousingWire http://www.housingwire.com/articles/32618-cash-home-sales-continue-decline-falling-387-yoy
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Shared and taken by Edith Kulka, Vienna in last spring - Hundertwasserhaus.

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Study Finds Small, Exterior Home Improvements Offer Best Value

by NationalMortgageProfessional.com
http://nationalmortgageprofessional.com/news/52400/study-finds-small-exterior-home-improvements-offer-best-value?
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Nat'l Real Estate Post:
Did you know that the CFPB has different costs for mortgage brokers and banks?  The summary is that mortgage brokers are charged twice and therefore can't compete for low to mid priced loans due to the fees the CFPB charges.  Poor folks will pay more on their mortgages.  One senator, Johnson, has written to Richard Cordray requesting the correction.
http://thenationalrealestatepost.com/senator-wants-cfpb-point-and-fee-cap-fixed-now/?
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Shared by Tim Saxon

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More Support for Solar Homes, etc.

Homeowners, churches, and small businesses will soon have access to the financing available in two-dozen states for the installation of solar panels with little upfront costs based on an agreement announced Tuesday during a legislative hearing. (In Georgia) http://zpolitics.com/georgia-power-emcs-agree-to-broaden-consumer-access-to-financing-for-solar-installations/
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The Obama Administration is directing, via executive action, the Federal Housing Administration to reduce annual mortgage insurance premiums by 50 basis points, from 1.35% to 0.85%. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/32533-its-official-obama-to-direct-fha-to-cut-mortgage-insurance-premiums
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Shared and taken by Dieter Birr, Cloister Hirsau/hunting lodge

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One notable result in the December survey is that the share of consumers believing that it would be easy to get a mortgage exceeds those saying it would be more difficult to get a mortgage by the widest amount in the survey’s history.

“While this is a welcome signal, softness in consumer attitudes that drive housing demand will make for a subdued recovery and should persist absent more meaningful and sustained gains in household income,” Duncan said. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/32529-fannie-mae-consumers-not-confident-on-housing-investment

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Mortgage rates began 2015 by sliding even further below 4% as bond yields dropped amid concerns about the economy. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/32540-freddie-mac-mortgage-rates-begin-2015-at-record-lows
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Shared by Valentina Cirosola, taken by Nuestro Planeta Azul, This was Europe around midnight !!!

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Homebuilders are lauding the Federal Housing Administration’s news that it is reducing the annual mortgage insurance premiums by 50 basis point.

While the news isn't good for private mortgage insurers who have been happily raking in market share gains at the expense of the government agency, the homebuilders are a different story, a Seeking Alpha article said.

The announcement is positive for first-time homeowners since it is projected that this reduction will translate into a $900 reduction in their annual mortgage payment. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/32550-will-homebuilders-benefit-from-lower-fha-premiums

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Nat'l Real Estate Post:
The one realtor in the US with FFA approval.  http://thenationalrealestatepost.com/1-realtor-gets-drone-approved/?
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Shared by Uros Kralj, taken by  sinisa majetic, Takanori Aiba's Amazing Bonsai Tree House Miniature Sculpture tokyogoodidea.com
(this is a detail edited by me, you can view base image in full resolution on i.imgur.com/zPXTzWn.jpg

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Best performing cities with map
http://www.theblaze.com/stories/2015/01/10/read-this-report-and-youll-conclude-the-future-belongs-to-texas-california-and-the-rocky-west/
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Midwest Expected to Take Off in 2015
http://pallynews.com/2015/01/05/a-new-region-to-take-the-lead-in-2015-the-midwest-rises-to-the-top-of-the-housing-recovery/
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Shared by RentLingo

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Despite continuous fluctuations in both the Canadian dollar and U.S. real estate market, securing a mortgage is still a cost-effective option for buyers looking to avoid the high foreign exchange rates associated with all-cash purchases. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/32569-canadians-remain-top-foreign-us-homebuyers
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The MBA's market composite index was up 49.1% on a seasonally adjusted basis for the period ending Jan. 9. Loan application volume has not been this high since November 2008, the Washington-based trade group said.

Refinance activity rose 66% from the prior week, which represents the highest level since July 2013. Meanwhile, the purchase index soared 24% week-over-week, reaching its highest mark in 15 months. -- Evan Nemeroff in National Mortgage News http://www.nationalmortgagenews.com/news/origination/mortgage-app-volume-sees-highest-spike-in-six-years-1043606-1.html?

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Shared and taken by Destinos Interestantes, Thames River -London

Real Estate Agents Beware. Appraisors are Dreading Fannie and Freddie's New Burden on the Housing Industry, So Should You.

With the new underwriting requirements for Fannie and Freddie, the appraisors will not be allowed access to the comparables given by Fannie and Freddie.  Therefore, the appraisal may or may not be allowed in the loan process if Fannie or Freddie are involved.  The seller, the buyer and the real estate agents will have no idea until Fannie and Freddie get back with the loan officer.  This will extend the time and cost for the loan to go through.  This will make home loans through Fannie and Freddie more difficult for everyone.  https://www.fanniemae.com/content/faq/collateral-underwriter-faqs.pdf
I have gotten comments from appraisers who are dreading this new burden on the housing industry.
I encourage you to read Mike Power's comments on my previous blog, "Fannie and Freddie are Set to Mess With Your Appraisal". 
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Home prices nationwide, including distressed sales, increased 5.5% in November 2014 compared to November 2013, marking 33 months of straight year-over-year increases in home prices, the newest CoreLogic (CLGX) home price index found. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/32512-corelogic-home-prices-continue-to-moderate
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Shared by Henry Lion Oldie, Kharkov (Ukraine), our native city. The dawn of the New Year. Happy and peaceful New Year to you, Kharkov! :-)
Photo by I. Najda (Kharkov, Ukraine).

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An Arizona Realtor claims he is the first to gain authorization from the Federal Aviation Administrationto use an unmanned aircraft system, also called a drone, for real estate photography. -- Ben Lane in HousingWire http://www.housingwire.com/articles/32524-arizona-realtor-becomes-first-to-be-allowed-to-use-drone
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The White House says Obama will address housing in his State of the Union address on Tuesday, January 21.  At this time, the weather is suppose to be good, so the address should be on time, 9p EST.
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Shared and taken by Xalima Miriel, Old Ruins


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CoreLogic's Home Price Index rose by 5.5% in November compared to the previous year.  -- Evan Nemeroff in National Mortgage News http://www.nationalmortgagenews.com/news/origination/home-prices-increase-55-in-november-corelogic-1043529-1.html?
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Nat'l Real Estate Post:
Barry Habib says- Due to the oil prices dropping, American oil production will falter and the economies located over energy deposits will falter which will cause the Treasury Note to drop to, maybe, 1%.  This will keep mortgage rates depressed.  With the weakening of economies around the world, money will flow into the US Treasuries which will drop the rates. This will make an excellent time for refinancing home mortgages.
http://thenationalrealestatepost.com/barry-habib-predicts-big-rate-drop-for-2015/?
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Shared and taken by M. Friedrich

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Mortgage loan applications were down 9.1% in the last two weeks of 2014.  It was the Christmas season, so it was expected.
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The big, big problem is that even though Fannie is under Federal "conservatorship", they are still operating as a GSE, so, they have very little pressure from Congress, except to make money which they are doing in the billions and billions. In my opinion, Fannie and Freddie are the best "cash cows" the Federal Govt has seen since Social Security!!! 

You folks, with the assistance of NAR, may be heard by Congress!!! Let me know if you need my help in this fight!!! 

Mike Power

Owner at Power Appraisals, Inc.

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Shared by Squid McFinnigan, taken by Abarta Audioguides
This Augustinian Priory was founded in c.1200 AD by William Fitz Aldhelm de Burgo. One of Ireland's very best hidden gems.


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Short Sale Tax Break Signed into Law by Obama

Homeowners who had short sales in 2014 can now breathe a giant sigh of relief, as the Mortgage Debt Forgiveness Act was signed into law by President Barack Obama. -- Ben Lane in HousingWire http://www.housingwire.com/articles/32456-short-sale-tax-break-signed-into-law
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Fannie Mae and Freddie Mac brought in a combined net income of $6 billion in the third quarter, rising 20% over the government-sponsored enterprises’ net income of $5 billion in the second quarter, the Federal Housing Finance Agency reported in its Quarterly Performance Report of the Housing GSEs. -- Ben Lane in HousingWire http://www.housingwire.com/articles/32479-fannie-freddie-net-income-up-20
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Shared and taken by M. Friedrich, Wimereux - Frankreich

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Zillow (Z) has agreed to further delay its acquisition ofTrulia (TRLA) until at least Feb. 15, 2015, due to continued requests for information from the Federal Trade Commission. -- Ben Lane in HousingWire http://www.housingwire.com/articles/32484-zillow-trulia-deal-delayed-again
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Distressed home prices increased at a faster pace, up 18% from a year ago while non-distressed home prices were up 14% during the same time period. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/32468-realtytrac-distressed-home-prices-hit-new-5-year-high
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Shared and taken by Norbert Metz, somewhere in Germany

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Nat'l Real Estate Post:
FHA mortgage insurance is too high and therefore their foreclosures will increase. 
http://thenationalrealestatepost.com/mba-warns-fha-about-mi/?
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Drivers who own their own homes have a tendency to file fewer auto-insurance claims than renters, at least that’s one study proposes. Per The Wall Street Journal: -- Brena Swanson in HousingWire
http://www.housingwire.com/articles/32493-are-homeowners-better-drivers
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Shared and taken by Dirk Gonthier, Street

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Contracts to purchase previously owned homes rose in November as employment gains and low borrowing costs helped bring potential buyers into the market. Michelle Jamrisko in Bloombergnews.com http://www.bloomberg.com/news/2014-12-31/pending-sales-of-u-s-existing-homes-increase-0-8-in-november.html
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(Bloomberg) -- U.S. renters paid $441 billion for apartments and houses this year, a $20.6 billion increase, as fewer Americans owned their homes and landlords with tight inventories raised leasing charges, Zillow Inc. said Tuesday. -- Bloomberg News http://www.crainsnewyork.com/article/20141230/REAL_ESTATE/141239997/costs-for-u-s-renters-climbed-by-20-6b-in-2014
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Shared and taken by Hans Hartings, Amsterdam

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The CFPB’s rapid pace is likely to continue this year as it tackles some of its trickiest areas yet, including payday loans, debt collection and overdraft protection, which are likely to have a significant impact on the financial services arena. -- Rachel Witkowski in http://www.americanbanker.com/news/law-regulation/cfpb-plans-packed-agenda-for-2015-1071985-1.html
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