By Mike Colpitts Home remodeling is out-pacing home purchases as homeowners plan on staying put longer than they have in past years, according to a new poll by the National Association of Remodeling Industry organization. An over-whelming number of respondents to the poll said they plan on staying in their current homes at least five… Continue reading Home Remodeling Out Paces Purchases
Category: Sales
Vacation Home Sales Surge
By Mike Colpitts Vacation home sales are climbing for the first time since the real estate collapse. In some cases, condominium prices are also soaring in some of the largest second home markets in the U.S., including once hard hit Miami and Las Vegas, where cash buyers make up the majority of purchases. The surge… Continue reading Vacation Home Sales Surge
Bottom of Your Housing Market Hits
By Mike Colpitts Despite the troubled U.S. economy, some cities housing markets are hitting the bottom after nearly six years in the doldrums. Cities from the Corn Belt in Nebraska to Miami are experiencing upturns in home and condominium sales and higher prices. But not everywhere will experience the bottom of the market at the… Continue reading Bottom of Your Housing Market Hits
Home Sales Fall Two Straight Months
By Mike Colpitts Home sales fell for the second month in a row in March, despite unseasonably warm weather and record low mortgage rates, according to the National Association of Realtors. Existing home sales, which include single family residences, condominiums and townhouses declined 2.6% to a seasonally adjusted rate of 4.48 million. However, the number… Continue reading Home Sales Fall Two Straight Months
Real Estate Roller Coaster Rides into Spring
By Mike Colpitts The roller coaster ride in the U.S. real estate market got more evidence of continuing as the new home builder index for single family homes declined for the first time in seven months in April, according to the National Association of Home Builders-Wells Fargo index. The home builders index declined three notches… Continue reading Real Estate Roller Coaster Rides into Spring
Short Sales Finally Speed Up
By Mike Colpitts The nation’s giant mortgage lenders will force banks and mortgage servicers to enforce new guidelines to speed up short sales. Freddie Mac and Fannie Mae will require lenders to respond to requests for short sales from mortgage borrowers within 60 days under a new mandate ordered by the Federal Housing Finance Agency.… Continue reading Short Sales Finally Speed Up
Kiddie Home Purchases Jump
By Mike Colpitts A tight mortgage market has triggered a jump in parents, grandparents and other relatives helping younger home buyers qualify for a home loan. Baby boomer parents have helped a son or daughter to purchase a home by co-signing for a mortgage, supplying down payments or purchasing a home outright in 20% of… Continue reading Kiddie Home Purchases Jump
Home Prices Forecast Higher
By Mike Colpitts Home prices in a larger number of cities are forecast to inflate in value in 2012 as many U.S. cities make inroads towards a housing recovery. Signs of progress are developing in a growing number of U.S. states, including hard hit Florida, Michigan and Mississippi. Improving conditions in many cities are attributed… Continue reading Home Prices Forecast Higher
New Home Sales Dip
By Mike Colpitts New home sales saw a dip for the fourth month in a row in March as many home buyers remained on the sidelines, according to the Commerce Department. Sales slipped 7.1% to a seasonally adjusted 328,000 unit annual rate. However, government figures for February show home sales were revised to a higher… Continue reading New Home Sales Dip
Short Sales Double Leap
By Ryan Jackson Bank assisted short sales or mortgage holders who are approved to sell their homes for less than what is owed on a mortgage leaped to double the number of short sales approved in 2009 last year. There were 227,570 short sales approved in 2011 accounting for a 12% increase from the previous… Continue reading Short Sales Double Leap