Archive for August, 2012

QR code now on all yard signs

Thursday, August 30th, 2012

QR code (Quick Response Code) aka: quick read, will now be on all yard signs with the URL (website) to the property for sale. Yard Sign with QR Code

Pending home sales up 2.4 percent in July

Wednesday, August 29th, 2012

“All the elements are in place for continued growth in the housing industry,” said Omar Sharif, a U.S. economist at RBS Securities Inc. Three of four regions showed an increase in pending sales. A 5.2 percent gain in the South, and a 3.4 percent advance in the Midwest. The number of contracts in the West dropped 1.7 percent.

Home prices up for fifth straight month

Tuesday, August 28th, 2012

S&P/Case Shiller composite index of 20 metropolitan areas gained 2.3 on a non-seasonally adjusted basis. “We seem to be witnessing exactly what we needed for a sustained recovery; monthly increases coupled with improving annual rates of change,” David Blitzer, chairman of the index committee at Standard & Poor’s

Recovery is waiting for the appraisers

Friday, August 24th, 2012

With sales of distressed properties at 24 percent of all sales, down from 29 percent a year ago and low inventory, you would think prices would be going up fast. But they won’t until appraisers increase the fair market value of their appraisals.  The 11 million current homeowners that owe more on their mortgages than their homes are worth are waiting.

Americans bought more homes in July

Wednesday, August 22nd, 2012

Americans bought more homes in July than in June and prices rose, evidence that the housing market is slowly recovering. Sales of resale homes rose to 4.47 million in July, a 2.3 percent increase from the previous month.  The recovery is slow and uneven. July sales were below the 4.6 million pace reached in April and May. And the annual sales pace is below the roughly 5.5 million that economists consider healthy

Interest Rates at Highest Level in Three Months

Thursday, August 16th, 2012

Just like what happens in the Middle East determines the price action of gasoline, what happens in Asia determines what happens in the US Treasury markets. For the past 30 days China has been selling, which pushes up our interest rates. After hitting a low rate in Oct, 2011, then moving up, only to see a new low 30 days ago, our interest rates have moved up quickly. One of these days, probably soon, the rates will keep moving up and potential home buyers may miss the bottom of mortgage rates.

Number of foreclosures continue to decline

Wednesday, August 15th, 2012

U.S. foreclosure activity fell in July as the overall numbers declined on an annual basis for the 22nd straight month. This despite predictions of massive foreclosures coming to market since the settlement with mortgage servicers. Increase in loan modifications and short sales plus bulk sales have all contributed to these facts.

‘Indecision is often worse than wrong action’

Tuesday, August 14th, 2012

once quoted by Henry Ford. The original version:’more ships are sunk by indecision than the wrong decision’. We see this today with lawmakers, business leaders and home buyers. Look at your monthly payment if you buy versus rent. Look at price of homes today versus their replacement value. Decision time is right now!!