|
|||||
 |
Dennis Norman Beginning last November I have written several articles about the “sugar-rush” effect of tax credits and other stimulus on the housing market and voicing my concern that these things are short lived (like a sugar rush on a child) and after the sugar wears off there is a crash….Well, as expected, here it [...] Dennis Norman 1 in 3 Think Worst Is Yet to Come, While 38% Think Local Home Values Have Reached Bottom According to the second quarter 2010 Zillow Homeowner Confidence Survey, one-third (33 percent) of homeowners feel home values in their local market have not reached bottom, while 38 percent believe their market has in fact [...]
Dennis Norman Today the Federal Housing Finance Agency announce proposed guidance that would prohibit Fannie Mae, Freddie Mac and the Federal Home Loan Banks from investing in mortgages with private transfer fee covenants. Considering that covers the lenders that originate, invest in or, or insure over 90 percent of the homes in the U.S. that [...] Ever wonder why one home will sell for more than a similar home in the same neighborhood? You’ll hear all sorts of reasons. One house has this feature or that feature while the other one doesn’t. That’s part of it but certainly not all.
Dennis Norman According to a report released by Trulia.com, 24 percent of the homes for sale as of July 1, 2010 have experienced at least one price cut. This is a 9 percent increase from the prior month. The average discount for price-reduced homes continues to hold at 10 percent off of the [...] According to a report released by ZipRealty there were 15,137 more homes listed for sale nationwide with reduced prices in April which is a 6.22 percent increase from March. This may have been fueled by sellers trying to entice buyer’s to act before the homebuyer tax credit expired April 30th. The survey also showed that the [...] According to a report released by ZipRealty just over 40 percent of available homes for sale in the U.S. had reduced prices in March. Jacksonville FL, Phoenix AZ and Orlando FL lead the country with the highest percentage of homes for sale that have had at least one price reduction, at 50.3 percent, 50.1 and 47.2 percent respectively. Other highlights from [...]
Dennis Norman Relocation.Comconducted a survey in February which shows California, Florida, Texas, Georgia, Arizona, Illinois and North Carolina are the top five destinations where people are moving this year (Illinois and North Carolina tied for 5th). One in five respondents said they moved to a new location with a lower cost of living and, not surprisingly, [...]
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 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 [...] In January, Sellers Reduced List Prices by $21,925 on Average, According to ZipRealty According to a report released today by ZipRealty just over 40 percent of available homes for sale had reduced prices in January, down from 44 percent in December. “Sellers are taking a realistic look at current market conditions before listing their homes,” said ZipRealty [...] 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 [...]
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 [...] Lower List Prices and Fewer Price Reduced Homes Point to More Realistic Seller Pricing in December 2009 According to a report issued by ZipRealty there were 17,741 fewer homes listed for sale in December with reduced prices which represents a decline of 7.1 percent compared to November. This data is from a monthly survey of Multiple [...] Fewer Home Sellers Cutting Prices as Average List Price Falls More Than 3% Fewer sellers in 27 major U.S. markets reduced home prices this month, and those who did slashed their prices less than in October. At the same time, the average list price in those markets overall declined slightly, a possible sign sellers are pricing [...] Dennis Norman I have done several posts on the homebuyer tax credit and received and answered hundreds of questions about the tax credits on the various blogs I write for. There appears to be a lot of demand for the credits by homebuyers but also appears to be many questions. If you have questions about [...] Dennis Norman Fannie Mae just announced their new “First Look” initiative which is aimed at supporting neighborhood stabilization and promoting home purchases by owner occupants by providing owner occupants an advantage in purchasing Fannie-Mae-owned foreclosed properties. Under the First Look program only offers from owner occupants and buyers using public funds are considered during the first 15 [...] Dennis Norman According to a report issued today by ZipRealty, more than 44 percent of home listings in 28 major markets tracked by ZipRealty in September had at least one price reduction. Of those homes on the market with reduced prices the average have had their price cut an average of twice, according to the report. If you [...] This morning Trulia, the online real estate search company, announced that “25.6 percent of homes currently on the market in the United States as of October 1, 2009 have experienced at least one price cut. More than one in four current listings on Trulia have been reduced in price for the fourth straight month. The [...] Dennis Norman Today, testifying before The US House of Representatives Small Business Committee, the Mortgage Bankers Association (MBA) told the committee that the current credit cycle and recession began in the U.S. housing market, and recovery will not be complete until the current oversupply of house on the market has dramatically decreased. The MBA then cited [...] Dennis Norman Results have just been released of a study conducted by Rosen Consulting Group as to the effectiveness of the 2009 first-time-homebuyer tax credit and the potential need for an extension of the credits. The Rosen Consulting Group was retained by Fix Housing First, a coalition that was originally working to convince Congress for a housing [...] Dennis Norman The Homeowners Assistance Program (HAP)was established back in 1966 to give some monetary relief to eligible service members and federal employees who suffer financial loss on the sale of their primary residence when a base closure or realignment announcement cause a decline in the residential real estate market and they are not able to [...] Nearly one in five (18 percent) prospective first-time homebuyers said extending the $8,000 tax credit would be the primary influence on their decision to buy a home before the end of 2010, according to a Zillow survey. That would equate to 334,000 buyers from Dec. 1, 2009 to Nov. 30, 2010 – a likely time [...] Dennis Norman According to a report just issued by Trulia, a company whose website allows you to search for homes for sale throughout the U.S., 25 percent of homes currently on the market in the United States as of August 1, 2009 have experienced at least one price cut. The percentage of price reductions has continued [...] Lawrence Yun, Chief Economist, NAR The real estate market continues to show signs of life and continues to point to the possibility that we have hit bottom. Today the National Association of REALTORS(R) issued their Pending Home Sales Index Report for June which showed pending sales were up for the fifth consecutive month, the first [...] Dennis Norman Today the National Association of REALTORS(R) released its existing home sales report for June showing an increase in sales for the 3rd month in a row and home prices declining less sharply. Existing home sales, including single-family, town-homes, condominiums and co-ops increased 3.6% in June to a seasonally adjusted annual rate of 4.89 million units. [...] Dennis Norman By: Dennis Norman Realtor.Com and the National Association of REALTORS(R) released the results of it’s National Home Ownership Survey today. Employment concerns and the ability to make mortgage payments are the greatest barriers to home ownership today. This is particularly true for those people 25-49 years of age. First off, my usual disclaimer…I am not an attorney and this is not intended to be legal advice or a legal opinion. Dennis Norman Now that we have that out of the way lets talk about options that may be available to you if you are one of the 20% of homeowners that a recent study [...] Dennis Norman By: Dennis Norman Today the National Association of REALTORS(R) released its existing home sales report for May showing an increase in sales for the 2nd month in a row. This is the first time we’ve seen two consecutive months of sales increases in almost 4 years. Sales for May were at a seasonally-adjusted annual rate of 4,770,000 homes which [...] Dennis Norman By: Dennis Norman According to a report issued by IHS Global Insight, house prices in the first quarter of 2009 declined in 199 of the 330 metro markets they monitor. At just over 60% of the metros this represents a huge decrease from 4th quarter 2008 when 312, or almost 95% of the metros, showed declining prices. For [...] |
|
|||
|
Connecting St. Louis Information St. Louis The author and owner of this site are providing the information on this web site for general information only. The information on this site does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind nor should it be construed as such. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action on this information, you should consult a qualified professional adviser to whom you have provided all of the facts applicable to your particular situation or question. None of the tax information on this web site is intended to be used nor can it be used by any taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer. The information is provided as is, with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose Powered by WordPress & the Atahualpa WP Theme by BytesForAll. Now with Tutorials & Support |
|||||
Most Commented on Posts