Processing
By Andy Beth Miller | 05/24/2013
As sellers hold their grip on the market, buyers are starting to understand what it's going to take to stay in the game, according to responses in Redfin's second-quarter Real-Time Home-Buyer Report. After speaking at length with the buyers, it was determined that although their understandable frustration concerning the low amount of inventory continues to rise, there is an equal elevation in their individuals awareness and recognition of the seller's market, as well as an overall willingness to actually pay more out of pocket for purchasing real estate.
Read More
By Mark Lieberman, Five Star Institute Economist | 05/24/2013
Has housing turned the corner? Look again. The last time both prices and sales of new homes increased in the same month was last September. In October, both sales and prices dropped, but in November, January, and March, sales increased when prices dropped and in December and February when prices rose, sales fell. What of course is missing from the two data sets is any indication of demand, though there are other sources which suggest skepticism about a near-term housing rebound might not be misplaced.
Read More
By Tory Barringer | 05/24/2013
Carrington Real Estate Services, LLC announced the launch of MyFUELCenter, its mobile online resource for agents on the go.
Read More
By Tory Barringer | 05/24/2013
GMH Mortgage Services LLC, a nationally-recognized mortgage banker headquartered in Pennsylvania, added Scott Medrow to its team as SVP of its National Mortgage Center and specialty products division.
Read More
By Esther Cho | 05/23/2013
Compared to the first quarter of 2012, home prices in Q1 2013 were up by 6.7 percent, according to the Federal Housing Finance Agency's (FHFA) seasonally adjusted, purchase only House Price Index (HPI). From February to March, the index increased by 1.3 percent. While the HPI is higher by 6.7 percent compared to last year, prices of other goods and services rose by just 1.4 percent during the same time period. When adjusted for inflation, this means prices were up by about 5.2 percent from last year, according to the FHFA.
Read More
By Tory Barringer | 05/23/2013
The Illinois Association of Realtors (IAR) reported Wednesday that sales were up 25.3 percent year-over-year throughout the state. According to the association, statewide home sales (including single-family homes and condos) totaled 12,621 in April, the best performance for that month since 2007.
Read More
By Tory Barringer | 05/23/2013
The Mortgage Bankers Association (MBA) announced that HUD has approved the association's underwriter training program for the Multifamily Accelerated Processing (MAP) program.
Read More
By Mark Lieberman, Five Star Institute Economist | 05/23/2013
The price of a new single-family home soared to a record high in April as sales jumped 2.3 percent to a seasonally adjusted annual rate of 454,000, the Census Bureau and HUD reported Thursday. Economists surveyed by Bloomberg expected April sales to increase to 425,000 from March's originally reported 417,000. March sales were revised to 444,000. The median price of a new home, according to the Census/HUD report, soared $20,900 (8.3 percent) in April to $271,600, the highest price on record.
Read More
By Mark Lieberman, Five Star Institute Economist | 05/23/2013
First-time claims for unemployment insurance for the week ended May 18 dropped 23,000 to, 340,000 from the highest level since the end of March the Labor Department reported Thursday.
Read More
By Esther Cho | 05/22/2013
Pacific Union Financial, LLC appointed industry veteran Scott Conradson as EVP of mortgage servicing. With over 28 years of servicing and default management experience, Conradson will manage the company's growing servicing portfolio.
Read More
