Real Estate - UPI.com

Foreclosure processing time at new high

Mon, 15 Apr 2013 17:12:39 -0400

By Real Estate Economy Watch
In the first quarter, it took nearly 16 months to process the average foreclosure in America, longer it has ever taken and an increase of 14 percent over the fourth quarter of 2012.

Altos: No sign of single family rental weakness -- yet

Mon, 15 Apr 2013 17:08:46 -0400

By REAL ESTATE ECONOMY WATCH
Rents in major investor markets are showing no sign of weakness despite expectations that the housing recovery will put pressure on single family vacancy rates, according to a report by the CEO of Altos Research.

CB Previews International draws the line on pocket listings

Tue, 09 Apr 2013 16:21:45 -0400

By STEVE COOK, Real Estate Economy Watch
As inventories shrink and buyers frantically search for homes to buy off-market, “pocket listings” are becoming more prevalent, especially in luxury markets where the appeal of keeping the entire commission can be hard to resist for listing brokers.

Americans exit the housing crisis with new appreciation for renting

Mon, 08 Apr 2013 17:13:57 -0400

By REAL ESTATE ECONOMY WATCH
Six years of crisis have changed forever the way Americans think about housing. It’s good news for rental housing and not so good news for the home ownership industry, according to a massive new study conducted by Hart Research for the MacArthur Foundation.

Real Estate: Nothing to fear from zombie houses

Tue, 02 Apr 2013 17:26:11 -0400

By STEVE COOK, Real Estate Economy Watch
Are zombie houses where the monsters live in the latest Resident Evil sequel? Or are they fraternities decked out for Halloween? Neither.

Luxury market ready to switch to sellers

Tue, 02 Apr 2013 17:23:48 -0400

By REAL ESTATE ECONOMY WATCH
The highest tier of homes for sale, which has been the last part of the market to feel the effects of the housing recovery, is on the verge of switching from a buyers’ to a sellers’ market for first time in years.

Did real estate investing peak last year?

Tue, 02 Apr 2013 17:22:46 -0400

By REAL ESTATE ECONOMY WATCH
ave real estate investments peaked? After years of growth during the Foreclosure Eva, investment purchases declined slightly last year after surging 64.5 percent in 2011. With the cost and competition to buy distress sales growing and prices for normal homes rising, will investors pull back and start cashing in their assets?

Buying a home called a 'foolish mistake'

Mon, 01 Apr 2013 17:14:14 -0400

By REAL ESTATE ECONOMY WATCH
Buying a house make a national list of the most foolish mistakes American adults feel they have made, according to a survey released to coincide with April Fools’ Day.

Foreclosure inventory ballooned in first quarter

Mon, 01 Apr 2013 17:11:54 -0400

By REAL ESTATE ECONOMY WATCH
The inventory of properties in the foreclosure process expanded by nearly 10 percent in the first quarter, casting a pall over the housing recovery as local markets prepare for more foreclosures than expected. However, a high level of demand driving by investor activity may mitigate their impact.

Inventories are turning the corner in runaway California markets

Mon, 01 Apr 2013 17:10:20 -0400

By STEVE COOK, Real Estate Economy Watch
The hottest housing prices in the nation at last are encourage more sellers to list their homes, promising more sales and cooler price hikes in the weeks to come.

The shadow inventory is slowly disappearing

Wed, 27 Mar 2013 17:16:45 -0400

By REAL ESTATE ECONOMY WATCH
Florida, California, New York, Illinois and New Jersey were home to four out of ten distressed properties in the nation in January, an indication of how far east America’s foreclosure nightmare has moved.

Short sales are growing longer

Wed, 27 Mar 2013 17:12:32 -0400

By STEVE COOK, Real Estate Economy Watch
Perhaps the greatest advantage of a short sale to beleaguered homeowner facing default and foreclosure is the opportunity to move on with life and put the bad debt behind them as quickly as possible.

Case-Shiller: 2012 price hikes matched the boom years

Tue, 26 Mar 2013 17:08:56 -0400

By REAL ESTATE ECONOMY WATCH, UPI.com
Home prices increased more in 2012 than they have since have since the summer of 2006 in both of the S&P/Case-Shiller Home Price Indices.

Mortgage approval rates rise 18.6 percent, no sign of lower standards

Mon, 25 Mar 2013 17:18:17 -0400

By STEVE COOK, Real Estate Economy Watch
Mortgage approval rates have risen nearly 20 percent over the past 12 months yet there is virtually no evidence that lenders are relaxing underwriting standards, according to the February originations report from Ellie Mae.

Lower rates benefit richer homeowners most

Mon, 25 Mar 2013 17:15:46 -0400

By STEVE COOK, Real Estate Economy Watch
The Federal Reserve’s policy of buying mortgage-backed securities to keep mortgage rates low may be bolstering upper tier home values rather than helping to make homeownership more affordable for entry-level buyers.

Fear motivates first-time homebuyers

Mon, 25 Mar 2013 17:13:35 -0400

By REAL ESTATE ECONOMY WATCH
Worried about predictions of rising mortgage rates, additional increases in home prices and new costs for FHA borrowers, first-time homebuyers are kicking off the spring buying market in years, despite skimpy inventories and late winter weather across much of the nation.

Hedge funds are fueling foreclosure inflation

Tue, 19 Mar 2013 17:05:31 -0400

By STEVE COOK, Real Estate Economy Watch
Though hedge fund purchases on a national level have had minimal impact, in the nation’s hottest foreclosure markets hedge funds, or institutional investors, are contributing to double digit foreclosure price increases and dramatic declines in REO inventories.

Psychoanalyzing sellers

Mon, 18 Mar 2013 17:19:14 -0400

By STEVE COOK, Real Estate Economy Watch
How real estate has changed in just a few months! For six years, real estate professionals have struggled to get buyers back into the market with advertising campaigns, incentives, and the willingness to suffer social abuse for proclaiming the housing depression to be a great time to buy a home.

Michigan, Florida markets top list of most dangerous for investors

Mon, 18 Mar 2013 17:17:25 -0400

By Real Estate Economy Watch

Experts see soaring home values busting the bubble

Mon, 18 Mar 2013 17:14:21 -0400

By Real Estate Economy Watch
A nationwide panel of 118 economists, real estate experts and investment and market professionals expects home values to end 2013 up an average of 4.6 percent and rise cumulatively by 22 percent, on average, over the next five years, according to the first quarter Zillow Home Price Expectations Survey.

Early bird buyers try to beat tight inventories

Mon, 18 Mar 2013 17:13:21 -0400

By STEVE COOK, Real Estate Economy Watch
Realtor.com listing data for February suggest buyers are getting an early start to the 2013 home buying season despite the bad weather in many parts of the country and inventories that are still at record lows. Sellers are finally responding to the positive market by replenishing depleted inventories.

Falling inventories are hitting the brakes

Tue, 12 Mar 2013 17:20:28 -0400

By STEVE COOK, Real Estate Economy Watch
At long last, there are signs that the unprecedented year-long decline in for-sale inventories are slowing, though continuing to fall, just in time for the spring home buying season. But inventories may continue to decline through 2013.

State laws will extend foreclosure pain by 30 months or more

Tue, 12 Mar 2013 17:18:35 -0400

By STEVE COOK, Real Estate Economy Watch
The 23 states that require court orders to foreclose and other states that have enacted legislation that delays foreclosure processing will take twice as long as the rest of the nation to clear backlogged foreclosure inventories at their current rate.

Movoto: Big drop in days on market

Tue, 12 Mar 2013 17:16:49 -0400

By STEVE COOK, Real Estate Economy Watch
Just as the clock ticks down on the launch of the 2013 buying season, the Movoto mega site reports that in February days on market has dropped dramatically in its market footprint, which is heavily dominated by California markets.

The cost of recovery: FSBOs are baaaack

Tue, 12 Mar 2013 17:15:39 -0400

By STEVE COOK, Real Estate Economy Watch
In the hottest markets around the nation, “for sale by owner” signs are popping up in yards as penurious owners try their hands at selling their own homes. It’s another sign of recovery that’s raising echoes of the real estate boom seven years ago.