Real Estate? Yes, it is for Real!

Real Estate? Yes, it is for Real!

SOLDSpring’ season gains are good news for Housing Market. New home sales spiked by nearly 20 percent year-over-year in March up to about 481,000, according to a report from HUD and the U.S. Census Bureau. It was the highest level the market has experienced since 2008.

Existing home sales also jumped in March, by 6.1 percent, the largest monthly increase since December 2010, according to the National Association of Realtors.

The NAR Pending Homes Sales Index increased by 11.1 percent year-over-year in March and has been gaining momentum hitting into its highest level in nearly two years.

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Welcome to the Spring Home Buying Season!

Welcome to the Spring Home Buying Season!

blog25Existing homes sales surged to their highest annual rate in 18 months, showing a promising beginning according to the latest report from the National Association of Realtors.

The total number of  existing home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, jumped 6.1% to a seasonally adjusted annual rate of 5.19 million in March from 4.89 million in February, this is the highest annual rate since September 2013 that it was also 5.19 million.

Total housing inventory at the end of March grew as well up to 5.3% to 2 million existing homes available for sale. Unsold inventory is at a 4.6-month supply at the current sales pace, down from 4.7 months in February.

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Sabias que la mejor estación para vender tu Casa es en Invierno.

Sabias que la mejor estación para vender tu Casa es en Invierno.

 Si Estas considerando la venta de tu propiedad y no sabes cual es el mejor momento del año para venderla, o si te conviene vender o no tu casa, pues aquí te ayudamos con esta información.

Many home for sale real estate signs and one reading Sold in a bEn un reciente análisis realizado por la compañía REDFIN, los investigadores mostraron estudios basados en los listados de casas a nivel nacional tomando en consideración los precios de venta y datos del tiempo, demostrando que Febrero es históricamente el mejor mes para vender una propiedad, con un promedio de 66 por ciento de casas en venta, y con 90 días en el mercado.

La estación del invierno ocurre oficialmente entre Diciembre 21 al 20 de Marzo y trae consigo vendedores y compradores enfocados y decididos formalmente a hacer una venta o compra de propiedad.  El listar las casas durante esos cuatro meses de invierno ha dado como resultado adquirir porcentajes más altos en los precios de las ventas de casas, en comparación con sobre los precios de las casas listadas para su venta, con excepción de los meses de Abril y Mayo.

El mercado hipotecario en la estación de invierno también demuestra menos competición para los vendedores puesto que mucha gente tiende para esperar hasta la primavera para poner sus casas en venta.

Así mismo, un aproximado del 80 por ciento de los profesionales en Bienes Raíces que fueron encuestados por la Asociación Nacional de Realtors NAR dijeron que los compradores más serios emergen durante los días festivos, y un 61 por ciento dicen que hay menos competencia considerándose el invierno entonces como el momento ideal para vender una propiedad.

El Primer paso: un Análisis Comparativo de tu Propiedad, para determinar los valores reales de las propiedades en tu vecindario.      Como siempre, es recomendable que consideres asesoría profesional, para que te encuentres en mejor posición de decidir si efectivamente es el mejor momento para vender tu casa, y prepararla para obtener el mejor y mas alto precio posible considerando las condiciones del mercado.

Home sales hit fastest rise in more than a year

Home sales hit fastest rise in more than a year

buying-a-home11Sales of existing-homes rose by 1.5% in October according to the National Association of Realtors (NAR). Last October previously-owned homes reached its highest annual pace of the year as buyers continue to be encouraged by interest rates at lows not seen for a long time.

This numbers also represents the first yearly gain since October 2013. The median existing-home prices posted as well an increase compared to October 2013. From the previous year, October’s median price of $208,300 was up 5.5%, marking the 32nd straight month of yearly improvement.

The National Association of Realtors tracks completed transactions of single family homes, townhomes, condominiums and co-ops each month, dubbing this group “existing-home sales.” As the housing market crashed back in 2008, NAR also began tracking the share of home sales that were distressed (foreclosures and short sales).

In October distressed home sales declined to 9% of the total, hitting the single digits for the third month in 2014. One year ago, distressed sales accounted for 14% of the market. Foreclosures account for 7%, and short sales 2% total average. The share of homes purchased for all-cash buyers in October accounted for 27%, compared to a 31% in October 2013.

First-time buyers remain a smaller slice of the market than the historic norm, at 29% in October for the fourth straight month. First-time buyers have represented less than 30% of the buyer pool in 18 of the past 19 months.

Inventory levels declined by 2.6% in October to a supply of 2.22 million existing-homes available for sale the lowest level since March, but 5.2% higher than a year ago, when there were only 2.11 million existing-homes for sale.

We still need an increment on housing inventory. However, Government-sponsored enterprise Freddie Mac has projected a 20% gain for inventory between 2014 and 2015, which will help supply. Let’s make it happen.

Opening Doors for Homebuyers!

Opening Doors for Homebuyers!

The Federal Deposit Insurance Corporation is the first of six financial regulators to release the final version of the long-awaited qualified residential mortgage (QRM) rule. The National Association of Realtors applauds this action because it will make possible to incorporate rules that include a broad definition for Qualified Mortgage standards implemented earlier this year.

Got your House?

Got your House?

Under the QRM rule, loans are generally considered qualified if the borrower’s debt-to-income ratio is 43 percent, among other things and there is not onerous down payment requirement, as regulators had originally proposed.

The NAR strongly opposed earlier versions of the rule that included 20 and 30 percent down payment requirements, which would have denied millions of Americans access to the lowest-cost and safest mortgages

For lenders, having these two rules in alignment provides the clarity they’ve long been asking for, widening and deepening loan eligibility and availability, which has been one of the main stumbling blocks to increased home sales.

Homebuyers will have now more credit availability reflecting an increase in home purchases, and refis. Way to go!

Fannie Mae sets new rates effective October 14

Fannie Mae sets new rates effective October 14

Fannie Mae is set to raise the benchmark interest rate for its Standard Modification program. Fannie Mae will raise its required interest rate for standard modifications from 4.375% to 4.5%.  The rate was lowered from 4.5% to 4.375% on Sept. 15, but will now rise again in one week. Fannie Mae announced the change on Tuesday in an email sent to its servicers.

When the program began in Jan. 2012, Fannie’s benchmark interest rate was 4.625%. Fannie lowered the interest rate to 4.25% in Sept. 2012, before dropping it to 4% on Dec. 1, 2012.

“Fannie Mae Standard Modification interest rate is not determined on a preset schedule,” Fannie said in the note to its servicers. “The interest rate is subject to periodic adjustments based on an evaluation of prevailing market conditions.”

Fannie also noted that any loan modification requests that were approved at the previous rate are not eligible to be resubmitted for approval under the new modification rule

Home sales show encouraging stats

Home sales show encouraging stats

Existing home sales, excluding distressed sales, are the most encouraging stats at the moment. These, according to Trulia and the National Association of Realtors, were 80 percent back to normal in August.

home-salesTrulia’s Bubble Watch also showed that prices were 3.4 percent undervalued in the third quarter, which is a marked improvement over the 13.5 percent undervaluation at the worst of the housing bust. That means prices are three-fourths of the way back to normal.

Delinquency and foreclosure rates also were much improved. According to Trulia and Black Knight, the national delinquency and foreclosure rate was 74 percent back to normal in August, the same as one quarter ago and up from 56 percent one year ago. The decline in defaults and foreclosures has helped stabilize the financial system and hard-hit neighborhoods.