May 12, 2011
- Proposed 20 Percent Down Rule Draws Opposition
A proposed rule intended to prevent the kind of reckless lending and borrowing that heaped so many toxic mortgages into the marketplace in recent years has alarmed some groups, who argue the unintended consequences could worsen the nation's housing troubles.
The plan would require homeowners to make down payments of at least 20 percent of the [...]
April 30, 2011
- Builders Break Ground on More New Homes
Builders broke ground on more new homes last month, giving the weak U.S. housing market a slight boost at the start of the spring buying season.
Home construction rose 7.2 percent in March from February to a seasonally adjusted 549,000 units. Building permits, an indicator of future construction, rose 11.2 percent after hitting a five-decade low [...]
April 25, 2011
- Is It Becoming Time to Buy a House?
Given the recent experience in housing is real estate an asset that should be abandoned? Obviously not but that mentality has grown dramatically within many segments of our nation.
Can you blame people for never wanting to venture back into the real estate market? No. It is understandable but it is not real estate’s fault. Very [...]
April 19, 2011
- Distressed Sales Drag Down Home Prices
An analysis of home prices through the end of February by CoreLogic shows a year-over-year decline of 6.7 percent when distressed properties – REO and pre-foreclosure short sales – are included in the numbers.
Take out the distressed factor, and the company says home prices are “showing signs of stability,” down just 0.1 percent from a [...]
April 14, 2011
- Fewer Americans Struggling to Pay Their Mortgage
Fewer Americans are having trouble paying their mortgages now compared to a year ago, according to a new Harris Interactive poll.
About 22% of those surveyed last month said they had difficulty making their mortgage payments, down from 29% a year earlier. Additionally, 21% of respondents believed they were "under water" on their mortgage, meaning the [...]
March 30, 2011
- Existing-Home Sales Fall Again
Existing-home sales, or completed residential real estate transactions for properties including single-family homes, townhouses, condos and co-ops, showed a renewed decline last month.
February’s number of existing-home sales dropped 9.6% to 4.88 million when compared to 5.4 million in January. Sales were down 2.8% year-over-year as well, from 5.02 million sales in February of 2010. The [...]
March 23, 2011
- High End Homes Selling Quicker
While home sales across much of the country have languished in recent months, struggling to pick up speed, a recent report says homes on the higher end of the market are selling with renewed vigor.
According to DataQuick Information Systems, the number of home sales worth more than $1 million increased in each of the 20 [...]
March 19, 2011
- Rents Could Be On The Rise
Renters Beware: Double-digit rent hikes may be coming soon.
Already, rental vacancy rates have dipped below the 10% mark, where they had been lodged for most of the past three years.
By 2012, some are predicting the vacancy rate will hover at a mere 5%. And with fewer units on the market, rental rates will explode.
Rent hikes [...]
March 18, 2011
- Housing Starts Fell 22.5% in February
Housing starts fell 22.5% in February, well below most analysts' estimates and to the lowest rate in almost two years, according to Commerce Department data.
In a joint release, the Census Bureau and Department of Housing and Urban Development said starts fell to a seasonally adjusted rate of 479,000 units, down from a revised 618,000 for [...]
March 11, 2011
- Debt Consolidation Loans Becoming More Common
The housing slump has sent home values plummeting, and it has left an ever-growing number of homeowners upside down in their mortgage loans: They now owe more on their mortgage than what their homes are worth. This unfortunate economic reality has led a growing number of consumers to debt consolidation loans to help reduce the [...]
March 8, 2011
- Home Affordability Remains High
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the February 2011 edition of the Obama Administration’s Housing Scorecard. The latest housing figures show increased existing home sales as home affordability remains high, but officials caution that the market remains fragile, as prices are unsettled.
“In the face [...]
February 26, 2011
- What the Housing Market Is Signaling Now
Home prices in most major metropolitan areas are starting to stabilize. A report from the National Association of Realtors (NAR) showed that 78 markets in the U.S. experienced price gains in the fourth quarter of 2010 over the previous year. Existing-home sales were up as well, rising 15.4% to an annual rate of 4.8 million [...]
February 17, 2011
- Nearly 30% of Mortgages Are Underwater
Home prices dropped 2.6% nationwide during the last three months of 2010, pushing more borrowers underwater, according to a quarterly real estate market survey from Zillow.com.
Now 27% of homeowners with mortgages owe more than their homes are worth. That's up from 23.2% a quarter earlier.
That will surely lead to higher foreclosure rates soon. That's because [...]
February 16, 2011
- U.S. Home Prices Fall to Pre-Bubble Levels
The drop in home values caused by the mortgage crisis has resulted in at least one positive outcome: Prices have fallen so far and so fast that home affordability is back to pre-housing boom levels, according to a new report.
After reaching a peak in late 2005, the ratio of home prices to annual income fell [...]
February 13, 2011
- Home Prices Ended 2010 Showing No Change
Two separate industry gauges released recently indicate that despite the ups and downs seen in monthly reports on home prices over the last year, residential property values ended 2010 relatively unchanged from 2009 levels.
Reports from both Integrated Asset Services (IAS) and CoreLogic point to level ground over the 12-month period, although consecutive month-to-month declines were [...]
February 10, 2011
- Housing Affordability Driving Sales Increase
Low mortgage rates and home prices helped fuel a sharp increase in home sales during the month of December, according to the National Association of Realtors.
The group says existing-home sales during the month took place at an annual rate of 5.28 million, which was up more than 12 percent from the previous month as analysts [...]
February 6, 2011
- Pending Sales of Existing Homes Rise 2%
The number of contracts signed for purchases of previously owned homes rose again in December, according to data released recently by the National Association of Realtors (NAR).
The trade group’s pending home sales index increased 2.0 percent compared to its November reading, which was revised downward.
The index is based on contracts signed in December, as opposed [...]
February 2, 2011
- Foreclosures Increase in Cities Nationwide in 2010
Driven by continued high levels of unemployment across many parts of the country, data from RealtyTrac shows foreclosure activity increased in many cities during last year, despite the fact that many lenders halted their foreclosure process for part of the year.
According to the report, foreclosures increased in 149 of the 206 largest cities in the [...]
February 1, 2011
- Real Estate News - February 2011
Our February 2011 Santa Clara County Real Estate Newsletter is now online…
Read It Here Now!
January 28, 2011
- Construction Spending on Positive Streak
A sign that an economic recovery is slowly getting underway is evident by figures from one of the most deeply impacted industries during the recession — the construction industry.
November marked a third consecutive month with construction spending up. Development of new homes, along with an increase in government funding for federal construction projects, is giving [...]
