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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 [...] Fewer Home-buyers applying for loans in past week Dennis Norman The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending January 22, 2010. The report showed the Tweet This Post Dennis Norman In an effort to “stabilize home values and improve conditions in communities where foreclosure activity is high” FHA just announced a temporary waiver of requirements of 24 CFR 203.37a(b)(2). For those of you that don’t have your copy of the Code of Federal Regulations handy, this is referring to what is generally known [...] 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 [...] 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 At the REALTORS(R) Conference and Expo in San Diego yesterday, a la mode, inc. announced the realease of it’s new DaVinci TourSketch System featuring interactive floor plans to help market homes. According to the company, tens of thousands of real estate appraisers currently use the product. The new agent version of DaVinci includes the [...] Shae Bynes, Good Faith Investing I’ve had a few people post comments and send me emails requesting more info on the Craigslist ads that we do to build our buyer’s list (and sell deals too of course!). Remember: even if you don’t have your own deals under contract, if you partner up with a few [...] Dennis Norman Earlier this year I ran across a “newbie” investor and blogger, Shae Bynes, that impressed me for a couple of reasons. One, I like the message conveyed by the domain name of her website, GoodFaithInvesting.com, and two I like the “mission statement” on Shae’s site which states her purpose is “I simply want to live an [...] I ran across a video put together by Steph Davis, the Tampa-based bartender turned wholesaler on how to use the MLS to locate cash buyers in your area and help build the list of buyers you market your homes to. I thought the video had some useful tips and good advice and wanted to share [...] 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 The best available tool for sustaining the still-fragile housing market is the $8,000 homebuyer tax credit, (expires November 30) and it is essential that Congress extend the credit into 2010, the National Association of Realtors® testified at a hearing of the U.S. House Small Business Committee yesterday. NAR Regional Vice President Joseph L. Canfora, [...] 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 [...] Dennis Norman Time is running out for first time home buyers to take advantage of the $8,000 first-time home buyer credit which, absent an extension from Congress, will expire December 1, 2009. According to the IRS, 1.4 million families to date have taken advantage of the tax credit. If you have buyers or potential buyers for [...] Dennis Nman By: Dennis Norman Most investors discovered long ago that “staging” their homes for sale was money well spent and would lead to quicker sales. The typical buyer has a difficult time envisioning how a vacant home will look furnished, so having it furnished takes the guess work out as well as shows the functionality [...] Dennis Norman By: Dennis Norman Granted, to be a real estate investor you have to be sort of an optimistic person but by now you have hopefully retired your rose-tinted glasses and perhaps have switched to safety glasses. However, according to a report just released by Trulia, many sellers out there are seeing the glass more full than [...] Dennis Norman By: Dennis Norman Earlier this month I did a post about the Home Valuation Code of Conduct (HVCC) which is scheduled to take effect May 1st (click HERE to see post) Last week, Charles McMillan, the President of the National Association of REALTORS(R) sent letters to Fannie Mae President and CEO Michael Williams and Freddie [...] By: Dennis Norman Today the National Association of REALTORS(R) released its existing home sales report for March showing sales in the U.S. dropped 3% from February and were down 7.1% from last year. The Northeast saw the biggest drop in sales coming in 8% below February and the Midwest fared the best coming in with numbers the same as [...] Today the Federal Reserve Board, in it’s monthly Beige Book, said about Real Estate and Construction that “housing markets remained depressed overall, but there were some signs that conditions may be stabilizing.” By: Dennis Norman After May1st Fannie Mae and Freddie Mac will no longer accept loans that do not comply with The new Home Valuation Code of Conduct (HVCC). Since between Fannie Mae and Freddie Mac they control about 90% of the secondary mortgage market in America this will most likely affect real estate investors one way or another. The [...] By: Dennis Norman Dennis Norman Yesterday the National Association of REALTORS(R) released its existing home sales report for February and it contained some good news. According to the report existing home sales in the U.S. increased 5.1% in February over January although the rate is still down 4.6% from the same time last year. Granted it takes [...] By: Dennis Norman A couple of days ago I wrote a post about a company called Agoraseto, LLC that is trying a unique approach to selling homes they own as well as providing financing for their buyers. To find out more about this innovative approach to selling homes I conducted an E-View TM with Peter Atsiknoudas from [...] |
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