RISMedia » Consumer News and Advice

Great Spaces: Paradise Property for Sale, Walls Optional

susanne — Wed, 22 May 2013 20:32:12 +0000

Want to move to paradise? Who could blame you! This Hawaiian estate, located on the big island of Hawaii, is called Laule’a, or “a place of peace and happiness.” Happiness, indeed! Overlooking the fifth green of the Kona Country Club’s mauka course in the prestigious Keauhou Estates, this stunning property mixes tropical design with contemporary [...]

The Future of Mortgages

susanne — Tue, 21 May 2013 20:25:52 +0000

The current trend in real estate has been quite positive. For an extended period of time, we have seen pretty consistent growth in sales and home prices. After years of dealing with poor market conditions, we are all breathing a sigh of relief. Nevertheless, the industry must be vigilant in ensuring that nothing is done [...]

Builder Confidence Improves in May

susanne — Wed, 15 May 2013 20:12:47 +0000

Builder confidence in the market for newly built, single-family homes improved three points to a 44 reading on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for May, released recently. This gain, from a downwardly revised 41 in April, reflected improvement in all three index components – current sales conditions, sales expectations [...]

Positive Equity Is Driving Down Defaults

susanne — Wed, 08 May 2013 20:03:32 +0000

Homeowners with positive equity in their homes have fewer problem loans and are outperforming the national average for defaults. Their default rates are close to pre-crisis norms. The latest data from Lender Processing Servicers shows that the overall equity trend has been a very positive one. “LPS’ latest data shows that the share of loans [...]

Improving Markets List Includes 258 Metros in May

susanne — Mon, 06 May 2013 20:59:20 +0000

The number of U.S. housing markets showing sustained improvement in three key measures fell slightly to 258 in May from 273 in April, according to the NAHB/First American Improving Markets Index (IMI), released recently. This total includes entrants from all 50 states and the District of Columbia. The IMI identifies metropolitan areas that have shown [...]

Housing Tax Incentives Critical to Maintain Thriving Middle Class

susanne — Wed, 01 May 2013 20:07:45 +0000

To meet the nation’s growing need for affordable rental housing and homeownership opportunities, the National Association of Home Builders (NAHB) recently called on Congress to maintain its support for vital housing tax incentives, including the Low Income Housing Tax Credit, the mortgage interest deduction and real estate tax deductions. “Home building is an industry dominated [...]

Miami Ranked 2nd among Foreign Consumers Searching U.S. Properties

susanne — Wed, 01 May 2013 20:00:48 +0000

Attention from foreign consumers searching U.S. properties increased for Miami in March, according to the 26,000-member MIAMI Association of REALTORS® (MIAMI). South Florida, the top area in the nation for international real estate buyers, remains the focus of consumers from a diverse group of nations. Miami Top Market for Foreign Consumers In March, Miami ranked [...]

Investors and the Home-Rental Market

susanne — Tue, 30 Apr 2013 20:51:04 +0000

In traditional housing recoveries, individuals and households provide the bulk of the demand the market needs to rebound. This time, though, a different kind of buyer has been powering the housing recovery: investors looking for valuable rental property. Along with individual investors, institutional investors have poured into the single-family home market, buying enough foreclosed and [...]

March Pending Home Sales Improve 1.5%

beth — Mon, 29 Apr 2013 20:22:22 +0000

Pending home sales increased in March and remain above year-ago levels, but contract activity in recent months shows only modest movement, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 1.5 percent to 105.7 in March from a downwardly revised 104.1 in February, and [...]

Solar Panels Puzzle Would-Be Buyers

susanne — Tue, 23 Apr 2013 20:32:18 +0000

(MCT)—With solar panel prices plunging and generous tax credits and incentives still available, now may be as good a time as any to go solar. But shopping for a solar power system can be a tough task. Consumers face a bewildering array of options. There are thousands of different solar panel models from dozens of [...]

Mortgages Are Coming Home

susanne — Mon, 22 Apr 2013 20:07:54 +0000

Since late last year, industry experts forecast a drop in mortgage refinancings as rates rise, and a revival of purchase mortgages, as the housing recovery creates business for lenders willing to work with buyers. The spring housing market is here and now the mortgage market is following. Purchase mortgages zoomed to their highest monthly market [...]

Consumer Confidence Making a Comeback

susanne — Mon, 22 Apr 2013 20:04:09 +0000

As the weather warms for spring, so are consumers—for home buying, that is. “Now that interest rates are at such a low level, people are beginning to realize that buying a home is more affordable than renting,” says Rob Sibcy, President of Sibcy Cline REALTORS®. “As people continue to have the ability to sell their [...]

Real Estate Q&A: How to Get Out of a Land Deal Gone Bad

susanne — Sat, 20 Apr 2013 04:01:21 +0000

(MCT)—QUESTION: I bought a vacant lot a few years ago on the Internet, sight unseen. Turns out, the property is unusable because it’s on the edge of a development and on a deep slope. I found out that it is part of an association, and the dues now have exceeded the value of the property. [...]

Housing Passes One Million Mark

susanne — Wed, 17 Apr 2013 20:39:42 +0000

Housing construction passed the psychological mark of one million starts in March coming in at 1.036 million homes, up 7 percent from an upwardly revised February level of 968,000. The surge was due to a 31 percent increase in apartment construction to a level of 417,000 units, the highest since January 2006. Single-family construction fell [...]

Freddie Mac CreditSmart® Online Tutorial Helps Prepare Future Borrowers for Homeownership

susanne — Wed, 17 Apr 2013 20:37:58 +0000

Freddie Mac recently announced a free, online CreditSmart(R) tutorial to provide working families and new or inexperienced borrowers with basic sound information about building savings, personal credit, and making wise financial choices. CreditSmart is a comprehensive, multilingual financial education curriculum that has reached more than three million consumers in 44 states through lenders, churches, schools [...]

The Vacation Home Makes a Comeback

susanne — Tue, 16 Apr 2013 20:30:15 +0000

As the market continues to shift, one industry trend seems to be making continuous waves: vacation homes. With low prices and mortgage rates still available in most parts of the country, affluent buyers—or those who have always dreamed of a cabin on a lake—are making their move and purchasing second homes in exotic locations to [...]

Ask the Experts: What Should Home Sellers Do to Prepare for a Home Inspection?

susanne — Tue, 16 Apr 2013 20:25:48 +0000

We see it every day. Sellers who don’t take the time to ensure a smooth home inspection and who pay for it in the long run. The spring market is upon us. A little preparation can ensure sellers have great home inspections. Home inspectors typically arrive 30-45 minutes early to the home inspection appointment so [...]

HARP Mortgage Refinancing Program Extended by Two Years

susanne — Mon, 15 Apr 2013 20:05:53 +0000

(MCT)—Underwater homeowners with Fannie Mae- and Freddie Mac-backed mortgages will be able to try to refinance their mortgages for another two years. The Federal Housing Finance Agency announced Thursday that Fannie and Freddie’s Home Affordable Refinance Program, which was set to expire Dec. 31, will be extended until the end of 2015. “More than 2 [...]

4 Myths of Online Real Estate Lead Generation

susanne — Sun, 14 Apr 2013 17:05:28 +0000

Using the internet to capture real estate leads can be an exciting way to earn new business. It can also be a major undertaking for those without the training, understanding or systems to manage online lead generation. According to NAR, 90% of consumers are researching homes online. This is before they ever pick up a [...]