Realtor Confidence Index, Report & Market Outlook: June 2013

FULL DETAILED REPORT:
http://economistsoutlook.blogs.realtor.org/2013/08/30/rising-rents-for-residential-properties/

Single Family homes: “strong” at 71. 

Townhouses: 51. 

Condominiums approaching 50.  

The survey was sent to a random sample of about 50,000 REALTORS®.

The Index is calculated as a weighted average of the responses, evaluated at 

0-Weak, 50-Moderate, and 100-Strong.

USA Today: Home equity loans make a comeback.

Susan Tompor, USA TODAY

Full Article:

http://www.usatoday.com/story/money/columnist/tompor/2013/08/24/home-equity-credit-card-debt/2682097/

Home Prices Rise and Stabilize: 

1.)  Lenders are more willing to lend.

2.)  Borrowers feel more secure about tapping into their equity.

Potential Requirements: 

20% equity retention

720 credit score or higher

An appraisal

Verify Employment

Proof of income 

A loan minimum.  20K or more.

2-4 week time frame for the loan.

The average rate on a home equity loan is 6.14%. 

The average rate on a home equity line of credit is 4.99%

Bankrate.com.

The Recent Effect Of Rising Interest Rates

Media Contact: Walter Molony

http://www.realtor.org/news-releases/2013/08/july-pending-home-sales-slip

National Association of Realtors chief economist Lawrence Yun:

Rising interest rates caused an initial surge in closed sales then a slight pause in pending sales. Closed sales have not decreased at this point.  

Overall:

Recent months of pending contracts are “still the highest activity level since 2006.”

The real estate market “momentum is still solid” 

Interest Rates are still close to a 60 year low.  

Affordability is at an all time high, which is why there is a strong demand for more housing.        

There is a housing shortage which puts pressure on builders to meet this demand in the market.   “the current inventory is at a historic low point” 

Largest decline in Shadow Inventory since the housing crisis began.

Megan Hopkins

35% drop (annualized basis).

23% drop (year over year)

[Compass Point Research & Trading]

Fewer Homes In The Foreclosure Pipeline Has Resulted From:

A decline in 90+ past due loans.

An increase in prices, which has motivated people to repair their situation.

An improvement in mortgage credit quality.

The decline is expected to continue as servicers push to resolve delinquent inventory.

Forbes: Trulia Chief economist; “market 64% back to normal.”

Key market Trends: Dave Liniger (RE/MAX Co-Founder & Chairman)

By Teresa Walsh

“New Construction Will Experience Robust Growth For The Next Decade…”   

“The Beginning Of A New Homes Boom!”

Factors:

1.) High demand, low inventory: Resales are not enough.

2.) New household formation:  Historically lows are now picking up.

3.) Population Growth: Specifically Immigration.

“Builders need to pick up the pace...and deliver"

Areas:

1.) More housing

2.) Numerous styles.  

3.) Multiple price points.  

FLORIDA Market Report: July 2013

U.S. Housing Market on Bloomberg's Market Makers

National Market Report: July 2013

RE/MAX FULL REVIEW

NATIONAL ASSOCIATION OF REALTORS FULL REVIEW

Naples Market Report: July 2013

Florida Monthly Market Update: June 2013

Homes
Condos

2013 Profile of International Home Buying Activity

68 BILLION IN SALES

Local Market Update: 2nd Quarter

National Monthly Market Update

RE/MAX Performance in National Surveys

The results of the 2013 RISMedia Power Broker Report, the REAL Trends 500 and "The Thousand" all show that RE/MAX agents continue to outperform the competition, helping more home buyers and sellers realize their dreams.

Where Is the World's Most Expensive Real Estate?

 It the world's second smallest country with the most billionaires per capita, where a 4-bedroom property will cost you about $26 million. Bloomberg takes a look at why Monaco has the world's most expensive property. (Source: Bloomberg)