A few weeks ago, Phoenix real estate agent Bobby Lieb drove by a north Central house he's trying to sell and noticed his 'for sale' sign wasn't in the yard.
The next day he noticed another one of his signs was missing. Then another. And another.
Other agents began to call him asking if they could borrow signs because theirs had vanished, too.
Today, flat-screen TVs are ubiquitous—hanging serenely on walls, freeing up space once hogged by bulky traditional boob tubes and the hulking entertainment stands that supported them. Still, a flat-screen TV still looks like … a TV. Not exactly a work of art gracing your wall.
Lucky for you, plenty of other homeowners are on the case and have come up with some ingenious ways to keep these screens under wraps. Check out a few of their strategies below.
Read more... http://www.realtor.com/advice/home-improvement/hide-flat-screen-tv/?utm_source=hootsuite
The San Francisco housing market is red-hot.
But the really startling increases are being seen in the high-end part of the market, which includes homes that cost over $950,000. For homes in this price bracket, San Francisco is sharply outpacing the appreciation seen in other markets around the country.
Read more... http://www.businessinsider.com/case-shiller-high-end-home-prices-in-san-francisco-2015-10
The Chicago Cubs have a special shine to them these days, and the longtime owner of a home near Wrigley Field hopes it rubs off on her property — to the tune of $9.8 million.
"The seller strongly feels that this is the price," said real estate agent Amy Duong Kim of Jameson Sotheby's International Realty, who's marketing the listing as about 536 feet from home plate.
Read more... http://www.zillow.com/blog/wrigleyville-teardown-186055/
The two finance the bulk of U.S. home loans, using money borrowed from around the globe. That makes them a mainstay of America's $10 trillion housing market and of the national and world economies. If Fannie and Freddie tank, it could all tank. But whether they should be run wholly as federal agencies, or partially or not at all has been debated for decades, especially since the Great Recession. The issue's always half-alive because it's key to the financial well-being of so many, but always half-dead because special interests ensure no one has the political stomach or clout to resolve it.
Read more... http://www.usatoday.com/story/money/2015/10/20/book-review-shaky-ground-exposes-zombie-side-freddie-fannie/74237976/
In the market to flip some homes? Tampa's a great place to be for that.
A new report from RealtyTrac found that among 101 markets with at least 75 single family and condo flips in the third quarter of 2015, Tampa had the fourth-highest share of home flipping, equaling about 9 percent of sales.
Read more... http://www.bizjournals.com/tampabay/news/2015/10/29/tampas-housing-market-great-for-flippers-report.html?ana=twt
Think year-end sales are only important to auto dealers? Think again.
Plenty of successful companies want to reach fiscal goals by the end of the calendar year, and homebuilders aren't any different.
Read more... http://www.azcentral.com/story/money/real-estate/2015/10/08/builders-want-move-homes-meet-goals-year-ends/73062136/
If you are looking for a house now, it's likely going to take a little longer to get a mortgage to buy it.
The expected delay is due to a new federal rule that's supposed to give consumers more protection when they are making one of their biggest financial decisions.
Last week, the "know before you owe" requirements went into effect. The biggest change for borrowers will be the three days they get to review all the final costs of their home loan before they sign.
Freddie Mac announced late Friday that it sold $305 million in seriously delinquent loans from its mortgage investment portfolio.
The sale, which was initially announced last month, was completed via auction, with two pools containing 1,611 total loans being sold to a pair of buyers.
According to Freddie Mac, these loans have been delinquent for approximately two years, on average.
There are many headwinds keeping U.S. growth more moderate than in the past–including leverage levels and an aging population—and the latest gross domestic product (GDP) revisions testified to this.
However, while the corridor for U.S. growth is likely to remain lower than in the past, I believe the persistent hand-wringing and skepticism regarding the U.S. economy is grossly overstated, especially when you consider the technology renaissance occurring around us today.
Read more... http://www.businessinsider.com/us-economy-much-stronger-than-believed-2015-8
New research conducted by Freddie Mac released Tuesday indicates that people living in single-family rental (SFR) properties (a house, townhouse, or condo) may be more likely to buy a home than those living in apartments.
Freddie Mac's latest survey, conducted in June, found that overall, about 55 percent of renters in both single- and multifamily properties intend to continue renting in the next three years. When dividing up the two categories, however, the data indicated that 53 percent of renters in SFR properties intend to buy a house in the next three years compared to just 36 percent of multifamily renters who plan to buy in that period.
Read more... http://dsnews.com/news/08-25-2015/sfr-property-renters-may-be-more-likely-to-buy-a-home-than-those-in-apartments
While the disappointing new home sales reported last month for June were revised even lower today July sales redeemed at least some of the loss. The Census Bureau and the Department of Housing and Urban Development said that sales of newly constructed homes were at a seasonally adjusted annual rate of 507,000, a 5.4 percent increase from the revised June level of 481,000. Last month the report had put new home sales at 482,000 units, a drop of 6.8 percent from May.
Read more... http://www.mortgagenewsdaily.com/08252015_new_home_sales.asp
The manufactured-housing industry wants Fannie Mae and Freddie Mac to be required to fund higher-risk loans most commonly used to purchase mobile homes.
Industry representatives said this week that the Federal Housing Finance Agency (FHFA), the agency that oversees the government-sponsored enterprises, has been too slow to adopt a mandate in the 2008 Housing and Economic Recovery Act (HERA) that required additional financing for the industry.
Foreclosure filings were on the rise in July, as bank repossessions rapidly began to tick up, according to RealtyTrac's July 2015 U.S. Foreclosure Market Report.
Foreclosure filings – including default notices, scheduled auctions, and bank repossessions – were up 7 percent in July month-over-month and are up 14 percent from a year ago, according to RealtyTrac.
The latest industry data finds more people purchasing existing homes and more lenders repossessing homes that fell into foreclosure.
The National Association of Realtors (NAR) reported that existing-home sales in July increased two percent to a seasonally adjusted annual rate of 5.59 million in July from a downwardly revised 5.48 million in June. The level of sales activity last month remained at the highest pace since February 2007 (5.79 million) and represents the tenth consecutive months of year-over-year sales.
Read more... http://nationalmortgageprofessional.com/news/55429/home-sales-rise-along-bank-repossessions
If the only visitor to an open house is the cat from next door, then the real estate agent needs a new social media and marketing approach.
That was part of the advice Millennial real estate agent Wes Pinkston of Los Angeles gave to thousands of real estate executives, agents and entrepreneurs last week at Inman Connect in San Francisco. His comment drew laughs ... and nodding heads.
Doug Johnson serves as the chief financial officer of two hospitals in the Wisconsin-Minnesota border area but doesn't consider himself to be especially tech-savvy.
Nevertheless, he was able to complete the entire mortgage-application process entirely online for an Arizona vacation home that he and his wife wanted to buy. That included shopping for interest rates and terms, inputting personal information and uploading the required supporting documents including copies of income-tax returns, pay stubs, bank statements and more.
With investors nervously watching the Shanghai stock market, Chinese are the now biggest foreign buyers of American real estate, and they are setting their sights on the biggest state in the Lower 48.
Read more... http://www.cnbc.com/2015/07/28/chinese-buyers-feed-new-energy-into-texas-real-estate.html
We just got another sign the housing market is on fire.
On Wednesday, we learned that existing home sales jumped to the fastest pace since February 2007.
Sales rose 3.2% month-over-month to an annualized pace of 5.49 million.
Economists had forecast a rise of 0.9% to an annualized pace of 5.40 million.
Read more... http://www.businessinsider.com/existing-home-sales-july-22-2015-7?utm_source=trove&utm_medium=referral
EDWARDS, Colo. (AP) — Bob and Karin Weber built their dream home 14 years ago, creating an 11,000-square-foot mountaintop oasis. Now that the couple is in their 70s, they're ready to downsize and possibly move to nearby Vail.
After trying the traditional list-and-wait method of selling the 35-acre Elk Ridge Ranch, the Webers are putting their estate up for auction, hoping for a streamlined process and a more lucrative result.
Read more... http://www.usnews.com/news/business/articles/2015/08/01/owners-turning-to-auctions-to-sell-their-high-end-properties
Plans are now moving forward for a high-rise senior-living complex and two high-end apartment buildings on some of Tempe's last remaining lakefront real estate.
Southbank is on the north side of Rio Salado Parkway about one-half mile east of Rural Road, flanked on two sides by Arizona State University's Karsten Golf Course. Eventually, the complex could include offices, hotels, shops and restaurants.
Read more... http://azbex.com/seniors-skyscraper-on-tempe-town-lake/
WASHINGTON -- The Federal Housing Administration is expected to rebuff a government watchdog report that criticized down payment assistance programs, questioning why low-income borrowers are charged nominally higher mortgage rates for such programs.
The Department of Housing and Urban Development's Office of Inspector General took issue in a report earlier this month with the so-called "premium pricing" of two down payment assistance programs in Arizona.
----
5 reasons to consider working with international buyers
// Inman » Next
Are you set up for success in 2016? Join 2,500 real estate industry leaders Aug. 4-7, 2015, at Inman Connect in San Francisco. Get Connected with the people and ideas that will inspire you and take your business to new heights. Register today and save $100 with code Readers.
Takeaways:
The number of agents working with international clients rose by 7 percent from March 2014 to March 2015.
Becoming a homeowner requires a lot of cash, but a college degree can sometimes make it harder.
In 30 of the top 100 markets in the country, saving for a 20% down payment is faster without a college degree, according to a new study from Trulia.
he U.S. Supreme Court's decision late last week to make same-sex marriages legal throughout the country could lift home ownership among lesbian, gay bisexual and transgender couples.
"As with other momentous social landmarks, this progress will trigger key milestones along the path to home ownership," says Sherry Chris, CEO of Better Homes and Gardens Real Estate. The LGBT community is "a powerful market segment that represents an estimated buying power of $840 billion."
Manhattan apartment prices jumped to a record in the second quarter, pushed up by competition for a limited number of properties and strength in the luxury market.
The average sale price of all co-ops and condominiums was $1.87 million, up 11% from a year earlier and the highest in 26 years of data-keeping, according to a report Wednesday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Resale apartments and units in new developments each set their own price records amid interest from both investors and buyers who intend to live in the homes.
Bond investors shouldn't expect a "rate riot or rate rage" when the Federal Reserve begins to raise interest rates because the central bank has already telegraphed what it is going to do, economist Nouriel Roubini said Tuesday.
"It's not going to be a significant surprise. As the economy recovers, as inflation goes higher, gradually long-term interest rates are going to go higher," said the co-founder and chairman of Roubini Global Economics, also known as "Dr. Doom."
Read more... http://www.cnbc.com/id/102672961
Two home-building giants will merge to form one single company in an equity market capitalization deal worth $5.2 billion. Standard Pacific and Ryland Group, both based in Southern California, will own or control 74,000 home sites from the merger. They have yet to pick a new name that they will be operating under.
"Combining two industry leaders with nearly 100 years of homebuilding experience between them puts us in a strong position to benefit from the continued housing recovery," says Scott Stowell, Standard Pacific CEO, who will serve as the merged company's executive chairman. "With this merger, we gain both geographic and product diversification, expanding our reach and enhancing our growth prospects in the entry level, move-up and luxury market segments."
The gap between appraiser and home owner perceptions over the value of homes continued to widen for the fourth consecutive month in May, according to Quicken Loans' national Home Price Perception Index. Appraisal opinions of home values were 1.15 percent lower than home owner estimates in May. The latest reading on the index marked the first time in nearly two years where appraisal opinions were lower than home owner estimates by at least 1 percent.
Read more... http://realtormag.realtor.org/daily-news/2015/06/12/home-owners-appraisers-disagree-prices
Construction usually pulls America out of a recession, but not this time.
It's Alan Greenspan's top concern right now. The former chairman of the Federal Reserve says real estate in the U.S. is stagnating.
Sure, some cities are seeing buildings (and prices) rising, but construction of both homes and commercial properties overall isn't back to where it was before the Great Recession.
The housing market is all over the place this year. While in some markets houses are selling for more than 100% of the asking price, other houses are being sold for less than 80% of the asking price. It's a mixed market that depends heavily on the local environment. As a result, RealtyTrac decided to identify the nation's hottest seller's markets and the best buyer's markets.
Homeowners who are retired or nearing retirement often face some difficult questions: Should they remodel their homes? Will they recoup the cost? Or are they better off saving their money?
This issue is "a pretty common conundrum," says Atlanta-based certified financial planner Wes Moss, author of You Can Retire Sooner Than You Think.
Read more... http://www.usatoday.com/story/money/personalfinance/2015/05/11/retirement-remodeling-home/26523099/
Downtown Phoenix will play a central role in hosting the college football championship that will be played in Glendale in January.
The Arizona Organizing Committee and College Football Playoff organization announced Tuesday that downtown Phoenix will a host a weekend fan festival, concert series and the ESPN broadcast set leading up to the College Football Playoff National Championship on Jan. 11.
When Christy and Joe Affrunti bought their Long Island, New York, house last year, one of their first projects was replacing the traditional front-door lock with one that opens using a pass code. They were tired of the hassle of "jiggling with a key."
Now, when they need to give someone like a repairman temporary access, they give a temporary code to get in. They share their permanent code with friends; those who arrive at the house before they do, for instance, can "come in and be comfortable instead of sitting in their car," Christy Affrunti says.
Read more... http://www.dailystar.com.lb/Life/SciandTech/2015/Apr-24/295556-good-bye-keys-smart-locks-let-you-in-without-them.ashx
LOS ANGELES (AP) — Shortly after Elvis Summers befriended Irene McGhee, he learned she was sleeping on the streets of South Los Angeles.
So the man with the blue mohawk and wraparound shades decided to build the grandmother nicknamed "Smokie" a tiny house on wheels. Summers estimates he spent less than $500 on plywood, shingles, a window and a door for the 8-foot-long structure that can be moved around by one person.
Read more... http://www.usnews.com/news/us/articles/2015/05/08/man-on-mission-to-build-tiny-houses-for-los-angeles-homeless
Twenty-seven-year-old Omaha, Nebraska, resident Erin Duffy has never had -- or even wanted -- a credit card.
"I've been able to get along without it," she says, attributing the choice to ambivalence and a wariness of plastic her parents fostered in her during her formative years. "I've liked being able to pay for things as I go, not having to worry about missing a bill."
Read more... http://www.bankrate.com/finance/credit-cards/more-millennials-say-no-to-credit-cards-1.aspx
This is a great time to be selling a house—or buying one. With housing prices at recent highs (in some neighborhoods they're exceeding pre-2008 valuations), it's no wonder about 5.3 million homes are expected to change hands in 2015, up about 30 percent from the bottom of the crash, according to the National Association of Realtors.
Read more... http://www.consumerreports.org/cro/magazine/2015/03/top-5-ways-to-boost-the-value-of-your-home/index.htm
Carol Lewis knows a lot about what Baby Boomers want in their homes and their lifestyles these days.
The associate broker with DPR Realty in Mesa is herself a Boomer, that generation whose births occurred between 1946 and 1965, and temporarily bumped up the national birth rate after World War II.
Read more... http://www.azcentral.com/story/entertainment/home/2015/03/23/baby-boomers-value-space-proximity-venues/24988523/
There are all sorts of activities required of the people who remodel the homes of tech titans in Silicon Valley. Laying reclaimed-wood flooring, installing ever-tinier bathroom tiles, wiring the network.
Add a new one: Signing a domestic nondisclosure agreement.
Read more... http://mobile.nytimes.com/2015/03/15/technology/for-tech-titans-sharing-has-its-limits.html?referrer=&_r=0
According to Freddie Mac's latest Primary Mortgage Market Survey (PMMS), average fixed mortgage rates moved down slightly this week and remaining near their 2015 lows as the spring home buying season continues.
Freddie Mac's deputy chief economist Len Kiefer said, "Mortgage rates fell slightly to 3.65 percent this week, positive news for potential home buyers in the market this spring. Purchase applications in 60 of the 100 markets that MiMi tracks are up from the same time last year, including 20 markets that are showing double-digit increases. Reinforcing this positive momentum, existing home sales surged 6.1 percent to a seasonally adjusted annual rate of 5.19 million units in March, the highest annual rate since September 2013. Housing inventory rose 5.3 percent to 2 million homes for sale, but unsold inventory was little changed at a 4.6 month supply."
An ability to distinguish what will sell is an absolute must for any broker to survive and succeed in the real estate industry. Whether it is a condo, a townhouse or a detached home, there are some aspects that are inherent to the property itself and there are others that can be worked on by brokers and sellers.
What comprises a saleable property depends on the buyers' needs. Millennials prefer fuss-free units in the metropolitan area, while the affluent peruse multiple vacation homes in the countryside for recreation. Also, renovations and amenities that are specific to the property count. For instance, buyers on an apartment or condo hunt pay attention to convenient parking space, elevators and the like.
Read more... http://www.inman.com/next/10-highly-salable-factors-of-a-real-estate-property/
The three major credit bureaus – Equifax, Experian and TransUnion – will be making consumer-friendly changes to how they resolve disputes as well as how they handle the reporting of medical debts. Just don't expect the changes to take effect immediately. The new provisions, the result of a settlement agreement between the bureaus and New York Attorney General Eric Schneiderman, will be phased in nationwide over about three years, according to John Ulzheimer, president of consumer education at credit Web site CreditSesame.com.
Read more... http://m.kiplinger.com/article/credit/T017-C011-S001-credit-bureaus-to-make-it-easier-to-fix-errors-in.html
Home prices have not recovered enough to protect the states with high concentrations of home equity lines of credit whose rates are scheduled to reset in the next few years.
Forty percent of these HELOCs were seriously underwater in 2014, and this year more than half of these loans will have loan-to-value ratios of 125% or more, according to RealtyTrac. When homeowners owe more than their homes are worth, they are more likely to default, particularly if their monthly bill spikes, all other things being equal.
Many former homeowners could start buying again this year and give metro Phoenix's housing market a much-needed boost.
They are called boomerang buyers because they were thrown out of the mortgage market after foreclosures or short sales during the crash but now can qualify for a home loan again.
Most lenders require a seven-year sitting out period for borrowers who default on home loans. That waiting period is over this year for the first wave of people to lose houses during the crash.
It's that time of year again! Lunar New Year is right around the corner, and many Chinese are consulting fortune tellers to learn what the year of the goat has in store.
But what do fortune tellers foresee about the world's second-largest economy?
Read more.... http://money.cnn.com/2015/02/17/news/economy/chinese-new-year-fortune-teller/
(Bloomberg) -- Confidence among U.S. homebuilders decreased in February to the lowest level in four months as winter weather prevented some prospective buyers from touring new developments.
The National Association of Home Builders/Wells Fargo sentiment gauge fell to 55 this month from 57 in January, according to figures issued from the Washington-based group Tuesday. The median forecast in a Bloomberg survey called for 58. The decline was led by a slump in customer traffic.
Read more.... http://www.bloomberg.com/news/articles/2015-02-17/confidence-among-u-s-homebuilders-declines-to-four-month-low
The long-awaited recovery of metro Phoenix's homebuilding market is still a few years away, according to leading housing research firm RL Brown Reports.
A new forecast calls for 11,000 houses to be built across the Valley in 2015, up slightly from the 10,840 constructed in the area last year. And the report's publishers, RL Brown and Greg Burger, call that a "moderately optimistic" forecast.
Residents aren't the only ones benefiting from a surge of new apartments in Scottsdale.
The city brought in nearly $2 million more than expected from building permits during the first part of the current fiscal year, largely thanks to a boom in apartment development.
Scottsdale's coffers grew by about $6.5 million from July through November, a result of revenues from building permits, which are required for new construction.
