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Dennis Norman According to the Economics and Mortgage Market Analysis report just published by Fannie Mae, the weather was the culprit for the slow-down in home sales at the beginning of this year however, we did not get the boost they were anticipating from the extension of the tax credits. “Unfortunately, despite the high hopes [...] Dennis Norman “Generally speaking, real estate agents and brokers are not independent or properly trained valuation specialists.” This was said in a letter from several appraiser organizations that was sent to Treasury Secretary Timothy Geithner last week. The letter, not actually signed by anyone, but instead just bearing the names of the following four appraiser [...] After Two Weeks of Increases, Home Loan Applications Decrease 1.9 Percent Last Week
Dennis Norman The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending March 12, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) decreased 1.9 percent [...] The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued a their report on New Residential Construction for February 2010 showing a decrease in new home construction activity from February, but siginificant increases from a year ago.. The report shows the following: Building permits issued for single-family residences in February were at an [...]
Dennis Norman The Internet Crime Complaint Center (IC3) and the Federal Bureau of Investigation have published a report about common real estate scams and rental scams they are finding and how to avoid them. Like most scams there are warning signs and red flags that can help you avoid falling victim; knowing what to look [...] Home Loan Applications Increase 5.7 Percent Last Week – second consecutive week of increased home buyer activity Dennis Norman The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending March 5, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home [...] Dennis Norman According to a report issued today by Zip Realty, sellers in Florida are slashing prices by more than 10 percent South Florida has deals on homes! According to Zip Realty, sellers in Miami and Ft. Lauderdale have reduced their list price by an average of nearly 15 percent, or $36,000 in February 2010. In [...] Dennis Norman Today the National Association of REALTORS released it’s January Pending Home Sales Index showing a decrease of 7.6 percent in the index from December, 2009 to January 2010 (seasonally adjusted) and a 12.3 percent increase from last year. Here are highlights from the report: January’’s pending home sales index (seasonally adjusted) was 90.4 (the index is based [...] Home Loan Applications Jump 11.7 Percent Last Week after decreasing two prior weeks Dennis Norman The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending February 26, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) increased 11.7 percent [...] Dennis Norman Recently HUD published a report, “U.S. Rental Housing Characteristics: Supply, Vacancy, and Affordability“, which was packed with data about the rental housing market. The data in the report clearly illustrates that the rental market is holding up pretty well, at least in the lower rent price-ranges, while the for-sale housing market has been [...] Dennis Norman The sunshine state’s real estate market is heating up according to the latest report from the Florida REALTORS(R). Existing home sales rose in January, marking 17 months that sales activity has increased in the year-to-year comparions. Existing home sales in Florida increased 24 percent in January with a total of 10,465 homes sold statewide [...] Dennis Norman The United States Court of Appeals for the Eleventh Circuit recently consdered an appeal by the plaintiffs of a class action lawsuit again D.R. Horton, Inc. and DHI Mortgage, Co brought by John R. Yeatman and Eleanor E. Yeatman on behalf of themselves and all similarly situated individuals. The lawsuit stems from the Yeatman’s purchase of [...]
Dennis Norman According to the latest report from the National Association of REALTORS(R), existing home sales in January decreased 7.2 percent to a seasonally adjusted-annual rate of 5.05 million units in January from a level of 5.44 million units in December, however this does represent an increase over a year ago when the rate was [...] Dennis Norman The U.S. Department of Commerce released a report showing the sale of New Homes in January were at a seasonally adjusted annual rate of 309,000, an 11.2 percent decrease from the revised December rate of 348,000 and is 6.1 percent below a year ago. Home Loan Applications Drop 7.3 Percent Last Week after decreasing 4.0 percent the week before.
Dennis Norman The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending February 19, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) decreased [...] Seventy Percent of all mortgaged properties in Nevada are underwater
Dennis Norman According to a report released today by First American CoreLogic more than 11.3 million U.S. mortgages, or 24 percent of all mortgaged properties, are in a negative equity position meaning the borrowers owe more on their mortgage than their home is worth as of [...] Dennis Norman Home Prices Exhibit “Improving Declines” (sounds rather oxymoronic, huh?) In a report issued by First American CoreLogic national home prices continue to decline with their HPI (Loan Performance Home Price Index) declining by 3.7 percent in December 2009 compared with the year before. If you take the distressed sales out (foreclosures, short sales, etc) [...] Home Loan Applications Drop 4.0 Percent Last Week.
Dennis Norman The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending February 12, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) decreased 4.0 percent from the week before and [...]
Dennis Norman Fannie Mae is offering 3.5 percent in closing cost assistance or an equivalaent amount in appliances for people purchasing a Fannie Mae-owned HomePath® property. Fannie Mae is trying to entice buyers to buy one of their HomePath® homes by offering to pay up to 3.5 percent in closing cost assistance or an equal amount [...] More Than 15,000 Additional Homes Were Listed for Sale in January Within 27 Major U.S. Housing Markets
Dennis Norman January marked the first time in 18 months that more homes were listed “for sale” compared to the previous month, with an additional 15,000 homes, or a 2.9 percent increase, listed for sale compared to December according [...] Home Loan Applications Jump 21.0 Percent Last Week. Dennis Norman The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending January 29, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) increased 21.0 percent from the week before and [...]
Dennis Norman The U.S. Department of Commerce released a report showing the sale of New Homes in December were at a seasonally adjusted annual rate of 342,000, a 7.6 percent decrease from the revised November rate of 370,000 and is 8.6 percent below a year ago. My Mantra As has been my long-running mantra, I don’t like [...] Dennis Norman Top 20 Cities Are From California, Florida, Nevada and Arizona; Utah, Illinois, Oregon, Idaho Cities Indicate Foreclosure Problem Is Spreading. Today RealtyTrac® released its year-end 2009 Metropolitan Foreclosure Market Report which shows that cities in four Sun Belt states accounted for all top 20 foreclosure rates in 2009 among metro areas with a population [...] Fewer Home-buyers applying for loans in past week Dennis Norman The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending January 22, 2010. The report showed the Tweet This Post Dennis Norman Zip Realty’s “Home Hunter” Report for 4th quarter 2009 shows some housing markets heating up. While some of the “hottest” real estate markets in the country — those where homes are selling most above their list prices — continue to be distressed areas dominated by heavily discounted prices, a report issued by ZipRealty [...]
Dennis Norman NAR’s “seasonally-adjusted” numbers show sales down 16.7 percent for the month…2009 finishes with 5,156,000 homes sold…My projection for the year was 5,143,000 homes….missed it by 13,000 (2/10 of 1 percent) hmm..not bad for a “non-economist” According to the latest report from the National Association of REALTORS(R), existing home sales in December decreased [...]
Dennis Norman Forecast is for further declines In a report issued today by First American CoreLogic national home prices continue to decline with their HPI (Loan Performance Home Price Index) declining by 5.7 percent in November 2009 compared with the year before. If you take the distressed sales out (foreclosures, short sales, etc) the nation decline [...] Dennis Norman Average price cut for homes drops to 11 percent off original price…discount increases to 15 percent off original price for homes priced above $2,000,000. According to a report released by Trulia.com, 21 percent of the homes for sale as of January 1, 2010 have experienced at least one price cut. This makes the second [...] Dennis Norman The foreclosure rate in the U.S. for the month of November, 2009 was 3.09 percent, a 77.6 percent increase from November, 2008 when the rate was 1.74 percent according to a report by First American CoreLogic. In addition, the report showed that the number of borrowers that are seriously delinquent on their Tweet [...] Dennis Norman In an effort to “stabilize home values and improve conditions in communities where foreclosure activity is high” FHA just announced a temporary waiver of requirements of 24 CFR 203.37a(b)(2). For those of you that don’t have your copy of the Code of Federal Regulations handy, this is referring to what is generally [...] |
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