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Dennis Norman By: Dennis Norman The good news about the real estate market keeps coming! Don’t get too excited yet, I don’t know that the worst of it is over yet, not sure if the “fat lady has sang” yet or not, but at least the reports lately on the market have been encouraging. According to the [...] Dennis Norman According to Freddie Macs weekly mortgage market survey mortgage rates increased slightly this week from the prior week. The survey shows 30 year fixed rate mortgages averaging 5.25% with 0.7% in fees and points, up from 5.20% the week before. Last year at this time, the 30 year rate averaged 6.52%. Rates on 15 [...] Dennis Norman By: Dennis Norman Yesterday the National Association of REALTORS(R) released its existing home sales report for April showing a slight increase in sales of 2.9% over March. Sales for April were at a seasonally-adjusted annual rate of 4,680,000 homes which is down 3.5% from last year, which means in year over year numbers things are improving because last months annual rate [...] Dennis Norman By: Dennis Norman According to a new study by the Center for Housing Policy despite declining home prices, many of the jobs created through the federal stimulus package do not pay enough to afford a home. The study, Paycheck to Paycheck: Wages and the Cost of Housing in America, This new study compares housing costs in more [...] Dennis Norman By: Dennis Norman Monday I started this little diatribe, or rant, on the housing bubble and am going to wrap it up today. This is part three so if missed them you should read part one and part two first. OK, now to pick up where my rambling left off… In fairness to Greenspan, a government employee, and David Lereah, an [...] Dennis Norman By: Dennis Norman I started this little diatribe on the housing bubble yesterday and continue on today. To read part one of this story from yesterday please click here. OK, now to pick up where my rambling left off… As bad as it makes me feel that I did not see the bubble and protect myself from it, [...] Dennis Norman By: Dennis Norman I realize the “housing bubble” has been written about way too much and people are probably getting tired of hearing about it, especially after all the financial pain it has caused so many; particularly investors and developers. However I came across a couple of interesting things today that got me thinking [...] 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 [...] I’m pleased that within the last couple of days, some real economists that are actually paid for their opinion of the market, have come out and stated that housing my be near the bottom; Something that I first suggested over two weeks ago in a post on this site and then again four days ago in another post. 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 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 This morning I received a press release from Move, Inc., the company that operates Realtor.Com for the National Association of REALTORS(R), with a headline that read “One in Five Americans Plan to Buy a Home Despite Economic Conditions.” After all the bad news about housing I have seen I was elated to see [...] By: Dennis Norman Dennis Norman I think of myself as a pretty clever and creative guy. Having been a real estate investor since 1979 I have had to deal with tough market conditions on several occasions…including 18% mortgage rates back in 1981. During those periods of tough market conditions I worked to come up with some clever ways to [...] By: Dennis Norman Four days ago on the Real Estate Consumers News blog I wrote a post stating I did not think low interest rates will prove to be long-term fix to the housing market and in fact nothing more than short-term “life support”. Today CNNMoney.Com published an article which stated “Unfortunately, the low interest rates [...] |
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