Real Estate Summary News: The economy continues to chug along.

Shared by Dietr Birr
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Builders national and international are setting up shop in Texas.
http://www.dallasnews.com/business/residential-real-estate/20130627-dallas-areas-hot-housing-market-has-caught-the-eye-of-out-of-town-homebuilders.ece
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The house prices are slowing, but that means a return to a normal housing market. Also, as foreclosures disappear, sellers are increasing in number.
http://finance.fortune.cnn.com/2013/06/28/housing-recovery-prices-2/
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Nat'l Real Estate Post:
House prices have risen 6.7% in the last month which is as much as in the previous 11 months. Prices are up 12.1% from a year ago. If we keep this up we are quickly heading for inaffordablility. Income is only rising by 2%, but the U6 number is 14%, which means we are heading for another housing crisis if the market doesn't slow. So, we need an interest rate hike. This will cool the market, marginalize inflation, and encourage private mortgage lending.
http://thenationalrealestatepost.com/2013/06/28/real-estate-biz-is-walking-on-air/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+TheNationalRealEstatePost+%28The+National+Real+Estate+Post%29
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The Southern housing market is suffering shortages: inventory, developed lots, construction workers, and ability to secure building loans.
http://www.housingwire.com/news/2013/06/28/southeastern-housing-markets-remain-lackluster-due-shortages
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Nat'l Real Estate Post:
BoA is outsourcing paperwork to India to check if appraisals are completed or not.
Fannie Mae wants to speed up short sales. So Fannie is asking realtors to submit their offer to Fannie Mae at the same time they submit the offer to the company that is servicing the mortgage if indeed Fannie is indeed servicing the mortgage. The White House (Obama) is promoting a round table discussion to see how we can reduce our carbon footprint in mortgage underwriting and the appraisal process. (Now that's weird!)
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Posted by Dietr Birr
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