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The federal government's sweeping takeover of mortgage market giants Fannie Mae and Freddie Mac is expected to have positive short-term benefits to the real estate market and opens the door for the industry to shape the restructuring of the companies.
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Here's the list of the Top 10 fastest-selling ZIPs:
Sunnyvale, Calif. 94087: 66 days on market
Austin, Texas 78749: 68 days on market
San Diego, Calif. 92131: 70 days on market
Plano, Texas 75075: 75 days on market
Portland, Ore. 97202: 77 days on market
Houston, Texas 77094: 77 days on market
Wakefield, Mass. 01880: 79 days on market
Seattle, Wash. 98117: 86 days on market
Littleton, Colo. 80130: 90 days on market
Atlanta, Ga. 30340: 91 days on market read more »
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Sunnyvale, Calif. 94087: 66 days on market
Austin, Texas 78749: 68 days on market
San Diego, Calif. 92131: 70 days on market
Plano, Texas 75075: 75 days on market
Portland, Ore. 97202: 77 days on market
Houston, Texas 77094: 77 days on market
Wakefield, Mass. 01880: 79 days on market
Seattle, Wash. 98117: 86 days on market
Littleton, Colo. 80130: 90 days on market
Atlanta, Ga. 30340: 91 days on market read more »
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Home sales in California surged 13.6 percent in August. The figures released Thursday by MDA DataQuick showed 37,988 new and preowned homes were sold statewide last month, up 13.6 percent from August 2007 but down 3.8 percent from July.
"What we're seeing is multiple offers on anything under $200,000," he said. "When you have multiple offers, that's the end of the price drops." read more »
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"What we're seeing is multiple offers on anything under $200,000," he said. "When you have multiple offers, that's the end of the price drops." read more »
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In an unusual coordinated move, the Federal Reserve and other major central banks from around the world slashed interest rates Wednesday to keep an escalating financial crisis from becoming a global economic meltdown.
The Fed cut its key rate from 2 percent to 1.5 percent. In Europe, which also has been hard hit by the financial crisis, the Bank of England reduced its rate by half a point to 4.5 percent, and the European Central Bank sliced its rate by half a point to 3.75 percent. read more »
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The Fed cut its key rate from 2 percent to 1.5 percent. In Europe, which also has been hard hit by the financial crisis, the Bank of England reduced its rate by half a point to 4.5 percent, and the European Central Bank sliced its rate by half a point to 3.75 percent. read more »
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Forbes magazine examined the top 100 most expensive ZIP codes in the United States.
Strong price appreciation in the last 12 months:
Here are the top-10 most expensive ZIP Codes and the median home sales prices:
Fisher Island, Fla., Miami-Dade County, 33109. Median sales price: $3.85 million
Alpine, N.J. Bergen County, 07620, $3.59 million
Mill Neck, N.Y. Nassau County, 11765, $3 million
Newport Coast, Calif., Orange County, 92657, $2.8 million
Water Mill, NY, Suffolk County, 11976, $2.72 million
Atherton, Calif., San Mateo County, 94027, $2.7 million
Santa Barbara, Calif., Santa Barbara County, 93108, $2.7 million
Wains read more »
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Strong price appreciation in the last 12 months:
Here are the top-10 most expensive ZIP Codes and the median home sales prices:
Fisher Island, Fla., Miami-Dade County, 33109. Median sales price: $3.85 million
Alpine, N.J. Bergen County, 07620, $3.59 million
Mill Neck, N.Y. Nassau County, 11765, $3 million
Newport Coast, Calif., Orange County, 92657, $2.8 million
Water Mill, NY, Suffolk County, 11976, $2.72 million
Atherton, Calif., San Mateo County, 94027, $2.7 million
Santa Barbara, Calif., Santa Barbara County, 93108, $2.7 million
Wains read more »
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Daily Real Estate News | October 8, 2008
Pending Home Sales Up Sharply
Pending home sales activity surged as buyers took advantage of low home prices and affordable interest rates, according to the NATIONAL ASSOCIATION OF
REALTORS®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, jumped 7.4 percent to 93.4 from an upwardly revised reading of 87.0 in July, and is 8.8 percent higher than August 2007 when it stood at 85.8. The index is at the highest level since June 2007 when it stood at 101.4.
Improved Affordability
Lawrence Yun, NAR chief economist, says home buyers were respo read more »
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Pending Home Sales Up Sharply
Pending home sales activity surged as buyers took advantage of low home prices and affordable interest rates, according to the NATIONAL ASSOCIATION OF
REALTORS®.
The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, jumped 7.4 percent to 93.4 from an upwardly revised reading of 87.0 in July, and is 8.8 percent higher than August 2007 when it stood at 85.8. The index is at the highest level since June 2007 when it stood at 101.4.
Improved Affordability
Lawrence Yun, NAR chief economist, says home buyers were respo read more »
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Existing-home sales rose from the first quarter in 13 states, largely from buyers responding to discounted home prices, according to the latest quarterly survey by the NATIONAL ASSOCIATION OF REALTORS®.
Nearly one-quarter of metropolitan areas showed rising home prices in the second quarter from a year ago, with greatly mixed conditions continuing around the country. read more »
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Nearly one-quarter of metropolitan areas showed rising home prices in the second quarter from a year ago, with greatly mixed conditions continuing around the country. read more »
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Posted by
elnumerojuan
87 days ago
(http://jonthansblog.wordpress.com)
Category: Positive Real Estate News |
As an investor you should know that rentals are the key to long term wealth in real estate investing. When you buy a property that cash flow’s today, then chances are that this property will always cash flow. read more »
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Existing-home sales rose in July to the highest level in five months, although sales have hovered in a relatively narrow range over the past 11 months, according to the National Association of Realtors®.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – increased 3.1 percent to a seasonally adjusted annual rate¹ of 5.00 million units in July from a downwardly revised level of 4.85 million in June, but are 13.2 percent lower than the 5.76 million-unit pace in July 2007. read more »
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Existing-home sales – including single-family, townhomes, condominiums and co-ops – increased 3.1 percent to a seasonally adjusted annual rate¹ of 5.00 million units in July from a downwardly revised level of 4.85 million in June, but are 13.2 percent lower than the 5.76 million-unit pace in July 2007. read more »
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Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.93 percent with an average 0.7 point for the week ending September 11, 2008, down from last week when it averaged 6.35 percent. Last year at this time, the 30-year FRM averaged 6.31 percent.
The 15-year FRM this week averaged 5.54 percent with an average 0.7 point, down from last week when it averaged 5.90 percent. A year ago at this time, the 15-year FRM averaged 5.97 percent. read more »
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The 15-year FRM this week averaged 5.54 percent with an average 0.7 point, down from last week when it averaged 5.90 percent. A year ago at this time, the 15-year FRM averaged 5.97 percent. read more »
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The Mortgage Bankers Association reports a 7.5-percent increase in home loan demand during the week ended Aug. 29.
The index indicates a 10.5-percent jump in purchase applications and a more modest 2.1-percent rise in refinancing requests.
Additionally, the group's index tracking mortgages backed by the FHA surged 19.9 percent. Refi demand accounted for 34 percent of all application volume and adjustable-rate loans accounted for 6.6 percent--versus 35.2 percent and 7.9 percent, respectively, the prior week read more »
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The index indicates a 10.5-percent jump in purchase applications and a more modest 2.1-percent rise in refinancing requests.
Additionally, the group's index tracking mortgages backed by the FHA surged 19.9 percent. Refi demand accounted for 34 percent of all application volume and adjustable-rate loans accounted for 6.6 percent--versus 35.2 percent and 7.9 percent, respectively, the prior week read more »
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Gas Prices down not up. Inflation down or at bay, not up.
Dollar in better shape. Things are looking better. read more »
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Dollar in better shape. Things are looking better. read more »
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-Gas prices decrease, confidence increases
23.6% are confident/very confident in chances for a strong economy this month, up from July’s record-low 18.8%, though still a full 20 points lower than one year ago (43.9%). Given the results of the chart below, the immediate correlation between the rise and fall of gas prices and the fall and rise of consumer confidence is apparent
-Practicality eases in August
-U.S. employment outlook improves read more »
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23.6% are confident/very confident in chances for a strong economy this month, up from July’s record-low 18.8%, though still a full 20 points lower than one year ago (43.9%). Given the results of the chart below, the immediate correlation between the rise and fall of gas prices and the fall and rise of consumer confidence is apparent
-Practicality eases in August
-U.S. employment outlook improves read more »
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Resales of existing houses jumped by 3.1 percent in last month to the highest level in nearly half a year.
On top of that -- and to the near total surprise of Wall Street analysts -- new home sales also rose 2.4 percent, according to the Commerce Department. read more »
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On top of that -- and to the near total surprise of Wall Street analysts -- new home sales also rose 2.4 percent, according to the Commerce Department. read more »
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Washington, D.C.--Existing condominium and co-op sales increased 3.4 percent to a seasonally adjusted annual rate of 610,000 units in July from 590,000 units in June, according to the latest study conducted by the National Association of Realtors (NAR).
These sales figues are, however, 18.6 percent below the 749,000-unit pace in July a year ago. The median existing condo price was $223,400 in July, which is 2.7 percent below the rate in 2007.
“The condo and co-op sales have risen mainly because prices have fallen in some markets and buyers are seeing attractive deals out there, which is why the number of buyers in the market has incre read more »
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These sales figues are, however, 18.6 percent below the 749,000-unit pace in July a year ago. The median existing condo price was $223,400 in July, which is 2.7 percent below the rate in 2007.
“The condo and co-op sales have risen mainly because prices have fallen in some markets and buyers are seeing attractive deals out there, which is why the number of buyers in the market has incre read more »
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Posted by
god
42 days ago
(http://kudlowsmoneypolitics.blogspot.com)
Category: Positive Real Estate News |
Gross domestic product grew at a seasonally adjusted 3.3% annual rate during the second quarter, according to the Commerce Department, which originally put growth at a 1.9% pace. The revision, released Thursday, reflects new data showing that exports were even stronger than first estimated and that business inventories weren't depleted as much as thought earlier.
http://online.wsj.com/article/SB121992534813979505.html?mod=googlenews_wsj
"In particular, Friday’s 0.1 percent production increase -- which comes to 2.4 percent at an annual rate over the past 3 months and 2.3 percent read more »
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