Drone Rule Changes Coming

The FAA last month proposed drone-rule changes, which would allow a "more flexible framework" for the vehicles with limitations on nocturnal and line-of-sight use. Proposed rules also address height restrictions, operator certification, use of spotters and aircraft registration. -- in Origination News
http://www.nationalmortgagenews.com/news/origination/real_estate_agents_eager_for_drone_rule_changes-1046531-1.html?
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Despite the economic and financial challenges young adults have braved since the recession, the millennial generation represented the largest share of recent buyers, according to the 2015 National Association of Realtors Home Buyer and Seller Generational Trends study, which evaluates the generational differences of recent homebuyers and sellers. The survey additionally found that an overwhelming majority of buyers search for homes online and then purchase their home through a real estate agent, with millennials using agents the most. -- by NationalMortgageProfessional.com
http://nationalmortgageprofessional.com/news/53123/nar-study-finds-millenials-lead-all-current-homebuyers?
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Shared by Darja Vizjak, Pilgrimage Church in Slovenia, Lake Bled

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Nat'l Real Estate Post:
CFPB will no longer require proof of income for a pre-approval or pre-qualification.
http://thenationalrealestatepost.com/new-cfpb-rule-will-render-pre-approvals-usless/?
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Privately-owned housing units authorized by building permits in February were at a seasonally adjusted annual rate of 1,092,000. This is 3.0 percent (±1.7%) above the revised January rate of 1,060,000 and is 7.7 percent (±2.0%) above the February 2014 estimate of 1,014,000.

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Shared by Uros Kralj, taken by Danijela Zivkovic, Bellagio - Lake Como - Italy

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Blame the Weather

HOUSING STARTS

Privately-owned housing starts in February were at a seasonally adjusted annual rate of 897,000. This is 17.0 percent (±9.5%) below the revised January estimate of 1,081,000 and is 3.3 percent (±12.5%)* below the February 2014 rate of 928,000.

Single-family housing starts in February were at a rate of 593,000; this is 14.9 percent (±10.0%) below the revised January figure of 697,000. The February rate for units in buildings with five units or more was 297,000.

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Shared by Mirjana Jesensek, taken by Maria Loana.  Camogli, Italia

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3D Printed A/C Sold for How Much!?

http://www.digitaltrends.com/home/haier-debuts-3d-printed-air-conditioner/

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Shared and taken by John Brody.   Sacre Coeur Basilica, Paris

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The increase in average loan sizes for purchase mortgage applications has outpaced the recovery in house prices. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/33237-average-mortgage-loan-size-outpaces-home-prices
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The house that Twitter sold

Agent gives house personality in more ways than one

A blog from the National Association of Realtors said that home showings jumped from one or two a weekend to six and eight after the Twitter account debuted. -- Brena Swanson in HousingWire http://www.housingwire.com/blogs/1-rewired/post/33200-the-house-that-twitter-sold
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The End of the Pre-Approval

Under the new rules, a lender would not be able to require a borrower to submit any information verifying income prior to issuing a pre-approval. -- Ari Karen in NationalMortgageNews.com
http://www.nationalmortgagenews.com/news/origination/the-end-of-the-pre-approval-1046241-1.html?
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Shared by Majda Pal, Cave Bath Miskolctapola Hungary

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Nat'l Real Estate Post:
Homes within 1/4 mile of a Starbucks show much greater appreciation than those homes which aren't.  Starbucks has a great businesss model and knows where to put their locations.
Also, H.R. 650  is a bill to give the manufacturers of manufactured homes less oversight and therefore more sales.  (Listen to the video.  It sounds like a good bill the way Frank and Brian tell it.)
http://thenationalrealestatepost.com/how-starbucks-improves-home-values/?
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Appraisers valued homes 0.13% lower than homeowners estimated in February, according to the Quicken Loansnational Home Price Perception Index.

This is the first time appraiser opinions fell below homeowner estimates since August 2013. --Trey Garrison in HousingWire http://www.housingwire.com/articles/33205-appraiser-opinions-fall-below-homeowners-for-1st-time-in-18-months

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Shared and taken by Jerzy A. Witek,  Mariacka Street, Gdansk (at night)

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The Quicken Loans Home Value Index found that home values increased by 1% month-to-month and by more than 8% year-over-year, largely driven by gains in the West. Home values rose in Western states by nearly 2.5%, while in the South, the Northeast and the Midwest values barely budged. -- Jacob Passy in NationalMortgageNews.com
http://www.nationalmortgagenews.com/news/origination/home-values-increase-1-nationwide-in-february-1046262-1.html?
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Top 10 Most Expensive Cities in the World
Singapore is #1
http://www.economist.com/blogs/graphicdetail/2015/03/daily-chart
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Shared by Phuong Nhu Pham, Berlin Germany


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Massachusetts Homes Sold Despite All the Snow

(A very good article, humorous in spots.)

© 2015 The Salem News, Beverly, Mass.. Distributed by Tribune Content Agency

http://www.nationalmortgagenews.com/news/origination/massachusetts-homes-sold-despite-all-the-snow-1046338-1.html?

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“There are signs that this trend is starting to reverse, however. The US economy is now growing strongly, with real incomes rising rapidly and mortgage credit conditions loosening,” Stansfield says. “That means more young adults will have the means to strike out on their own. So, if this pent-up demand for housing is released over the next few years, will household formation surge, putting significant upward pressure on both homebuilding and house prices?” -- Trey Garrison in HousingWire http://www.housingwire.com/articles/33228-is-household-formation-set-for-a-rebound
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Shared by Sandy Somewhere, taken by Diana von Burren, Pula Croatia

#Fanniegate goes viral on Twitter

There’s little middle ground in Fannie Mae, Freddie Mac war of words

by Trey Garrison in HousingWire

http://www.housingwire.com/articles/33177-fanniegate-goes-viral-on-twitter
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Freddie Mac: Mortgage rates at 21-month low

Trey Garrison in HousingWire http://www.housingwire.com/articles/33155-freddie-mac-mortgage-rates-at-21-month-low

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Shared and taken by Valentina Cirosola, Puglia Italy

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The CFPB needs a regulator of its own

Why is it OK for the bureau to violate the standards it imposes on others?

Sarah Wheeler in HousingWire http://www.housingwire.com/articles/33079-the-cfpb-needs-a-regulator-of-its-own?v=preview

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The January 2015 international trade deficit decreased 8.4 percent or $3.8 billion from December, to $41.8 billion. 

Exports decreased
 2.9% percent to $189.4 billion, and imports decreased 3.9 percent to $231.2 billion.
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Shared and taken by John Brody, Chapel in Small Village South of Paris  -  A beautiful rainy day about 200 miles into the countryside. Don't even know the town's name.

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The national foreclosure inventory declined 33.2% and completed foreclosures declined 22.5% from January 2014, according to the latest report from CoreLogic (CLGX). -- Trey Garrison in HousingWire http://www.housingwire.com/articles/33198-corelogic-foreclosure-inventory-drops-332-over-last-january
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Nat'l Real Estate Post:
The CFPB coming disaster. http://thenationalrealestatepost.com/new-cfpb-disaster-coming-soon/?
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Shared by Nhu Phuong Pham, Peleș Castle, Romania

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Consumers who believe it would be easy to get a mortgage today jumped to a record-high 54%, Fannie Mae’s February 2015 National Housing Survey found. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/33187-fannie-mae-consumers-think-its-easier-than-ever-to-get-a-mortgage
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The End of the Pre-Approval

Under the new rules, a lender would not be able to require a borrower to submit any information verifying income prior to issuing a pre-approval. -- Ari Karen in NationalMortgageNews.com
http://www.nationalmortgagenews.com/news/origination/the-end-of-the-pre-approval-1046241-1.html?
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Shared and taken by Pasi Hortoma, somewhere in Finland

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Want a FoldOut House?

Fold Out House!

https://www.youtube.com/watch?v=8Azx_MnlSBI
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Continuing a trend throughout February, mortgage applications dropped 3.5% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending February 20, 2015. --
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Home Depot Profits Rising on Housing Recovery
"We had a strong finish to the year, as strength across the store, the recovering U.S. housing market and solid execution aided our business in 2014," said Craig Menear, chairman, CEO and president. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/33038-home-depot-profit-rises-on-housing-market-recovery
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Shared by Rae Ann Dougherty,

Artists & Artlovers originally shared:

 

Tanah Lot temple in Bali, Indonesia

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Not everyone thinks the housing market is faltering:

House prices have firmed up in recent months thanks to a combination of fewer homes being put on the market and stronger demand for the inventory that’s available,” Diggle said.

“But as firmer prices act to attract sellers back into the market and keep a lid on demand, that should in turn help prevent a further acceleration in price growth. Admittedly, our forecast of 4% house price growth in both 2015 and 2016 is stronger than the consensus expectation of 3.5%. But with the prospects for the wider US economy looking increasingly promising, that is a position that we are happy to occupy," he said. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/33044-not-everyone-thinks-housing-is-faltering

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Self-service Mortgage Servicing
“The whole mortgage transaction is going to go online,” said John Vella, chief revenue officer at Altisource Portfolio Solutions (ASPS), during a panel called Communicating with Borrowers through Self-Servicing.  “Before long, the whole thing, from soup to nuts, will be online.” -- Ben Lane in HousingWire http://www.housingwire.com/blogs/1-rewired/post/33064-is-self-servicing-the-future-of-mortgage-servicing
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Shared by Lyndsey Eve Valdez, taken by Gary Lo.  San Francisco.
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Federal Reserve Chair Janet Yellen's Senate testimony Tuesday confirmed that the Fed will take a go-slow approach to raising interest rates, notes CNBC commentator Ron Insana. -- Ron Weil in NewsMax.com http://www.newsmax.com/Finance/StreetTalk/Insana-Fed-rates-2016/2015/02/25/id/626805/?
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PERSONAL INCOME AND OUTLAYS: JANUARY 2015 Personal income increased $50.8 billion, or 0.3 percent, and disposable personal income (DPI) increased $52.6 billion, or 0.4 percent, in January, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) decreased $18.9 billion, or 0.2 percent. In December, personal income increased $45.3 billion, or 0.3 percent, DPI increased $37.3 billion, or 0.3 percent, and PCE decreased $35.7 billion, or 0.3 percent, based on revised estimates. From the U.S. Department of Commerce
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Shared by ShipProjectCargo, Lake Huron

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Goldman Sachs just nailed millennial homebuying

Publishes animated graph day before housing conference

by Jacob Gaffney in HousingWire

http://www.housingwire.com/blogs/1-rewired/post/33147-goldman-sachs-just-nailed-millennial-homebuying

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Shared by Tina En, Scotland

New York Penthouse Prices Soar

New York real estate is soaring, and there's no better proof than One57.

One of the penthouses in the 1,004-foot-tall residence has officially closed for $100.5 million, making it the most expensive apartment ever sold in NYC and the first to surpass $100 million.

Read more: http://www.businessinsider.com/inside-one57s-100-million-penthouse-2015-1?op=1#ixzz3SVnhAudo
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Nat'l Real Estate Post:
Mortgage rates to stay low due to a slower world economy.
http://thenationalrealestatepost.com/barry-habib-sees-lower-rates/?
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Pending home sales in January surged to the highest level since August 2013 after a steep drop last month, according to the National Association of Realtors. -- Brena Swanson
http://www.housingwire.com/articles/33098-pending-home-sales-surge-to-highest-level-in-18-months
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Shared by Uros Kralj, minimalist house

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10 reasons the housing market could go ballistic this spring

http://fortune.com/2015/02/27/10-reasons-the-housing-market-could-go-ballistic-this spring/ by Joshua Brown

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Top 10 Housing Markets Impacted by Oil -- by Brena Swanson in HousingWire http://www.housingwire.com/articles/33092-top-10-housing-markets-impacted-by-oil-prices
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Shared and taken by Valentina Cirosola, Puglia Italy

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How Investors Create Uncertainty in the Housing Market -- by Matt Scully
http://www.nationalmortgagenews.com/news/distressed/new-uncertainty-in-housing-as-investors-seek-maximum-profits-1045551-1.html?
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Saudi Prince Lists Luxurious New York Appartment, includes 3 bullet proof panic rooms -- by Brena Swanson in HousingWire
http://www.housingwire.com/articles/33111-saudi-prince-lists-luxurious-new-york-nest-for-485m
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Shared by James Harrision, taken by Places to Visit Before You Die, Paris

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 Dr. Seuss inspired home

https://roadtrippers.com/blog/the-sad-tale-of-alaskas-whimsical-dr-seuss-house
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Last week, Fannie Mae reported annual net income of $14.2 billion and annual comprehensive income of $14.7 billion in 2014. This compares to net income of $84.0 billion and comprehensive income of $84.8 billion in 2013, which included the release of the company’s valuation allowance against its deferred tax assets. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/33034-fannie-mae-and-freddie-mac-are-better-than-ever
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Shared by Tim Moore, taken by Mahida Wahab, Venice

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“The housing recovery is faltering. While prices and sales of existing homes are close to normal, construction and new home sales remain weak. Before the current business cycle, any time housing starts were at their current level of about one million at annual rates, the economy was in a recession” says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “The softness in housing is despite favorable conditions elsewhere in the economy: strong job growth, a declining unemployment rate, continued low interest rates and positive consumer confidence. -- By Tyler Durden

China Prints 3D 5-Story Building

China prints 3D 5-story building
 http://curbed.com/archives/2015/01/29/china-3d-printed-apartment-villa.php
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Unaffordable rents are making it hard for people to save for down payments, and they aren’t likely to ease up for at least two years, according to the latest Zillow Home Price Expectations Survey sponsored by Zillow and conducted quarterly by Pulsenomics. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/32938-experts-unaffordable-rents-here-to-stay
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Shared and taken by Dieter Birr, Castle Neuschwanstein

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Zillow-Trulia deal receives FTC approval, will close in days

Zillow's once-controversial acquisition of its largest competitor is days away from completion, perhaps as soon as the markets reopen. The company announced late Friday that its proposed $2.9 billion merger with Trulia is expected to close within days, perhaps as early as Feb. 17, following notification that the Federal Trade Commission closed its investigation of the merger.

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The Center’s Laurie Goodman, Karan Kaul and Jun Zhu took a closer look at the impact of the premium cut on FHA refinance volumes and have concluded that roughly 2.4 million current FHA borrowers could benefit from refinancing. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/32951-in-3-fha-borrowers-would-benefit-from-refinancing
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Shared and taken by Norbert Metz, Castle of Bourscheid / Luxembourg

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It’s finally official. After months of speculation, investigation, and consternation, Zillow and Trulia are now one and the same — Zillow’s acquisition of Trulia is complete.
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Building permits in January 2015 were at a seasonally adjusted annual rate (SAAR) of 1,053,000, down 0.7 percent from the revised December rate but up 8.1 percent from January 2014.

Housing starts in January 2015 were at a SAAR of 1,065,000, down 2.0 percent from December but up 18.7 percent from January 2014.  --  Department of Commerce

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Shared and taken by Xalima Miriel, Cathedral of Ciudad Rodrigo, Salamanca (Spain)

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(Hint:  It's winter!)

Despite optimism in most forecasts, it looks like 2015 is off to a faltering start for the housing industry.

January was a bad month for housing starts, completions and permits, reflecting perhaps the reason forhomebuilder confidence to likewise be down for February.

Single-family authorizations in January were at a rate of 654,000; this is 3.1% below the revised December figure of 675,000.

Single-family housing starts in January were at a rate of 678,000; this is 6.7% below the revised December figure of 727,000. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/32974-housing-market-starts-2015-on-several-weak-notes

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Shared and taken by Jasbir Randhawa, Captured in Mote Majra village, Mohali District of Punjab State, N. India; not far from Chandigarh.

87% of Homes Qualify for Downpayment Assistance

Nat'l Real Estate Post: 87% of homes qualify for downpayment assistance. Check out downpaymentassistance.com
http://thenationalrealestatepost.com/awesome-dap-website-you-have-to-check-out/?---------------------------------------------
The Department of Housing & Urban Development will be in the barrel on Capitol Hill on Wednesday, when a committee will convene to investigate allegations that senior HUD officials violated federal law and obstructed investigators’ efforts to uncover potential wrongdoing. -- Trey Garrison in HousingWire http://www.housingwire.com/articles/32810-house-investigating-allegations-of-legal-ethical-wrongdoing-at-hud
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Shared and taken by Valentina Cirosola, For the love of Italy

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Personal income in December 2014 increased 0.3 percent. Nominal personal consumption expenditures (PCE) fell 0.3 percent. Real PCE declined 0.1 percent. Nominal disposable personal income (DPI) rose 0.3 percent. Real DPI increased 0.5 percent. The personal saving rate as a percentage of DPI was 4.9 percent in December.  -- Bureau of Economics and Statistics

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"For the full year of 2014, home prices increased 7.4%, down from an 11.1% increase in 2013," said Sam Khater, deputy chief economist at CoreLogic. -- Brena Swanson in HousingWire http://www.housingwire.com/articles/32805-corelogic-home-prices-increased-74-in-2014
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Shared and taken by Dieter Birr, Burgruine Zavelstein, Castle Zavelstein/Black Forest/Germany

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Nat'l Real Estate Post:
FHA is going to try and loosen up on their errors and omissions policy which in turn could lighten up the overlays that lenders are using when making an underwriting decision.
http://thenationalrealestatepost.com/doing-away-with-fha-overlays/?
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Mortgage rates as of 02.13.2015

• 
  Lender info
  NMLS # 1168
  State Lic #17117
• 4.288%
  Fees:$750.00
  Fri Feb 13
• 4.250%
  at 0 pts
  60 day rate lock
• $812.00
  More details

• Regions Bank
• 4.298%
  Fees:$932.50
  Fri Feb 13
• 4.250%
  at 0 pts
  30 day rate lock
• $812.00

• Citizens Bank
• 4.172%
  Fees:$928.00
  Fri Feb 13

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Shared and taken by M. Friedrich, Austernzuchtbecken

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A total of 37,292 homes were repossessed in January, a 15-month high. Overall, 119,888 properties were at some stage of the foreclosure process, still down 4 percent from a year earlier.
http://www.newsmax.com/Finance/Foreclosure-RealtyTrac-Homes-bank-repossessions/2015/02/12/id/624312/?
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Shared by Darja Vizjak, Old Castle Celje, Slovenia