Feb 25
2010
Posted by Justin in Bradenton Florida Flat Fee MLS FSBO, Bradenton Florida Real Estate, Clearwater Florida Flat Fee MLS FSBO, Florida Flat Fee MLS FSBO, Fort Lauderdale Florida Flat Fee MLS FSBO, Fort Myers Florida Flat Fee MLS FSBO, Jacksonville Florida Flat Fee MLS FSBO, Lake City Florida Flat Fee MLS FSBO, Miami Florida Flat Fee MLS FSBO, Sarasota Florida Flat Fee MLS FSBO, Sarasota Real Estate, Shirley International Realty Inc., Statistics, Uncategorized
Report: Fewer people behind on home loans
WASHINGTON – Feb. 22, 2010 – The end of the foreclosure crisis is finally in sight. For the first time in almost three years, the number of homeowners falling behind on their loans is declining.
The drop means the number of people losing their homes will start to fall. But some pain from the crisis is sure to persist. Because millions of people are already in foreclosure, deeply discounted houses will put pressure on home prices for years.
“Housing is on a path to recovery,” said Mike Larson, a real estate analyst with Weiss Research. “It’s going to be a very long, gradual process.”
In high-foreclosure cities like Las Vegas, Phoenix and Miami, homes have lost roughly half their values from their peaks. But a report Friday from the Mortgage Bankers Association showed Nevada, Arizona and Florida had some of the biggest declines in new delinquencies.
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Feb 18
2010
Property sales in the Sarasota market were 58 percent higher in January 2010 than in January 2009, and pending sales were also strong, topping the 800 mark for the first time since October 2009.
In sharp contrast to the first month of last year, January 2010 saw 506 overall sales, compared to only 319 sales in January 2009. In addition, pending sales surged by over 10 percent from December 2009 to a total of 815. The statistic is a strong indicator for the next two or three months of sales, as pending sales are an indicator of current buyer activity. Last January, pending sales stood at only 683.
Median sale prices in the Sarasota real estate market dipped in January 2010 for both single family homes and condos. The median sale price for a single family home was $156,250, down from last month’s figure of $170,000, but up slightly over last January’s figure of $149,950. For condos, the median price dropped to $165,000 from last month’s figure of $199,000, and significantly lower than last January’s figure of $220,000. For the last 12 months combined, the median sale price for single family homes was $160,000, while the median sale price for condos was $189,900. Read the rest of this entry »
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Sep 02
2009
FHA on track for busiest year
WASHINGTON – Sept. 2, 2009 – Almost a year after the federal government launched its rescue of the housing market, nearly one in four new mortgages is insured by the Federal Housing Administration (FHA).
With less than a month to go in the 2009 fiscal year, the FHA is on pace for its busiest year.
From Oct. 1 through mid-August, applications for FHA single-family-home mortgages were up 50 percent, to 2.52 million, from the same period a year earlier.
Approvals for purchases, refinancings and reverse mortgages rose 70 percent to 1.67 million.
Eighty percent of the FHA mortgages for purchasing homes went to first-time buyers drawn to the FHA’s low-downpayment requirements, starting at 3.5 percent. Private lenders making conventional loans typically require at least 10 percent down.
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Sep 02
2009
(Fueled by Record Low Mortgage Rates, Home Buying Incentives, & Low Pricing, Cheif Economists for Nar, Lawrence Yun Expects Existing Home Sales to Rise About 17%)
WASHINGTON – Sept. 1, 2009 – Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors® (NAR).
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June. It’s also 12.0 percent higher than July 2008 when it was at 87.1. The index is at its highest level since June 2007.
Lawrence Yun, NAR chief economist, says housing market momentum has clearly turned for the better. “The recovery is broad-based across many parts of the country. Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit.
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Sep 02
2009
Real estate auctions: Top bid no guarantee of a sale
CHICAGO – Aug. 31, 2009 – The atmosphere is electric, the deals can be dazzling, and the process can turn a bidder into a home buyer seemingly in a matter of minutes.
But as interest in real estate auctions grows, bidders are finding out it pays to read the fine print, be prepared and realize that it’s best not to hire the movers until the deal, not the auction, is sealed. Not everyone who “wins” at an auction walks away with a new home.
Consider Cicero resident Karina Castaneda, who happily left an auction in late June thinking she’d just purchased her first home.
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