Sunday, October 18, 2015

The Best Day of the Year to Buy a House

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
Because our architecture is never boring.

Because our architecture is never boring.

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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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