From Forbes.com  5/9/2012

Well, 2012 may or may not be the end of the world as we know it, but one thing is perhaps certain: it’s the end of the ghastly price hemorrhages home owners have suffered since the real estate market crashed in 2007. Nationally, home prices have dropped about 35% since the housing bubble burst –  in the hardest hits areas, 55% or more. Yet new reports from several real estate research firms signify that home prices are finally stabilizing. The data reinforces a notion already asserted by many an economist, real estate agent and Wall Street investor: that 2012 is the year of the bottom.

The National Association of Realtors reports that in the first quarter of 2012, the median existing single-family home price, or final sales price, rose in 74 of the 146 metro areas that the association tracks. In the fourth quarter of 2011, only 29 metro areas had showed price gains.  In other words 51% of the major cities across the U.S. have welcomed price gains, most notably in areas where  the energy industry helps fuel the economy (Bismarck, N.D. and Oklahoma City, Okla.) and in snow bird retirement haven Florida (Tampa, Cape Coral, Palm Bay, Sarasota). Areas still plagued by falling prices are Atlanta, Ga., Mobile, Ala., Reno, Nev., Seattle, Wash., and Kingston, N.Y.

“Given the steadily dwindling supply of inventory and notably higher listing prices that are being negotiated today, prices are expected to show further improvements in the near future.” Lawrence Yun, chief economist of NAR, noted in a statement.

Full Article Here…

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From Forbes.com  5/9/2012

Well, 2012 may or may not be the end of the world as we know it, but one thing is perhaps certain: it’s the end of the ghastly price hemorrhages home owners have suffered since the real estate market crashed in 2007. Nationally, home prices have dropped about 35% since the housing bubble burst –  in the hardest hits areas, 55% or more. Yet new reports from several real estate research firms signify that home prices are finally stabilizing. The data reinforces a notion already asserted by many an economist, real estate agent and Wall Street investor: that 2012 is the year of the bottom.

The National Association of Realtors reports that in the first quarter of 2012, the median existing single-family home price, or final sales price, rose in 74 of the 146 metro areas that the association tracks. In the fourth quarter of 2011, only 29 metro areas had showed price gains.  In other words 51% of the major cities across the U.S. have welcomed price gains, most notably in areas where  the energy industry helps fuel the economy (Bismarck, N.D. and Oklahoma City, Okla.) and in snow bird retirement haven Florida (Tampa, Cape Coral, Palm Bay, Sarasota). Areas still plagued by falling prices are Atlanta, Ga., Mobile, Ala., Reno, Nev., Seattle, Wash., and Kingston, N.Y.

“Given the steadily dwindling supply of inventory and notably higher listing prices that are being negotiated today, prices are expected to show further improvements in the near future.” Lawrence Yun, chief economist of NAR, noted in a statement.

Full Article Here…

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A PulteGroup survey of renters says more expect to buy homes in the next two years.

They may have watched the value of their parents’ homes soar then crash. And, chances are, they know someone who is losing their home to foreclosure. Still, the hope of homeownership is alive among people who rent and want to buy, according to a recent survey by PulteGroup.

The home builder’s survey results showed that 60% of renters who say they want to buy a home in the future have increased their intent to buy compared to a year ago. And 61% of that group says they plan to purchase a home within the next two years.

Read Full Article Here…

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NEW YORK (CNNMoney) -- Buying a home may never get any cheaper than this. Several housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market.

Read Full Article Here…

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Check out the video here:

http://www.designingspaces.tv/show_segment.php?id=1025

Designing Spaces got together with Anne Anastasi, president of Genesis Abstract and a member of the American Land Title Association to talk title insurance and home buying.

Marlen and her daughter are buying a house, and a meeting with Anne has the mother and daughter making smart decisions for peace of mind. Exactly what takes place at the closing is explained. Purposes for Title insurance and how rates are established are discussed. Title insurance insures that the title to your property is clear, with no known liens or encumbrances, such as unpaid property taxes, recorded liens, or street and sewer easements. Marlen closes on her house and moves in, knowing she has the right insurance.

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NEW YORK (CNNMoney) -- The Federal Housing Finance Agency laid out new rules aimed at speeding up the short sale process, a move that could keep many homes from falling into foreclosure.

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By: Krista Franks Brock 01/24/2012 from DSnews.com

Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit.

The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is constant with requirements one year ago.

Full article here...

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In a recent interview with CNBC, Warren Buffett reiterated the inherently valuable investment of single family home purchases in the current market.  The Oracle of Omaha, one of the country’s and the world’s most respected investors, has become bullish on real estate investment in recent times, especially considering the attractive interest rates available.

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By JONATHAN LANSNER

From: http://m.ocregister.com/articles/five-344589-years-momentum.html

Email Article

Southern California's home market had its busiest February in five years. But where was the best sales gains and pricing momentum in the six-county market? CLICK HERE FOR COUNTY-BY-COUNTY RANKINGS!

Full Article Here...

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Real estate pros: Show us your apps

By Inman News, Friday, March 9, 2012.

Chris Nichols, branch broker for Prudential Utah Elite Real Estate, talks about his favorite mobile apps and how they help in Real Estate.

Full Article Here...

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From Bloomberg.com -  By Christine Harvey - Mar 13, 2012

Potential homebuyers and sellers are growing more confident that the U.S. real estate market will begin to recover as soon as next year, according to a Prudential Real Estate survey.

Sixty percent of people surveyed last month had positive views about the housing market and 70 percent expected property values to improve over the next two years, according to the survey released today. About 63 percent of respondents said they considered real estate a good investment, up from 52 percent last year, the Irvine, California-based broker reported.

Full Article Here...

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From Realty Times

For many, homeownership is still a dream. Moving from renting can seem like it’s an impossible mission. But if you plan ahead and carefully budget, the goal of homeownership can be yours.

When budgeting how much home you can afford, it’s important to understand and anticipate the costs of owning and maintaining a home. Here are a few things that some... first-time buyers forget to include.

List and description at the full article here...

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From LATimes.com  - March 11, 2012

Reporting from Washington

By Kenneth R. Harney

The FHA plans to impose limits on the amount of money that home sellers can contribute at closing and to raise mortgage insurance premiums.

If you're considering buying a house with an FHA mortgage and expect the seller to help out with your closing costs, here's a heads-up: The Federal ...Housing Administration plans to impose significant restrictions on the amount of money that sellers can contribute at closing in the near future.

Bottom line: Nail down your FHA money and seller-contribution negotiations as soon as you can because later looks a lot more expensive.

Full Article here...

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Published Tuesday February 28, 2012

By Steve Jordon -  via Omaha.com
WORLD-HERALD STAFF WRITER

JEFF BEIERMANN/THE WORLD-HERALD

Warren Buffett is interviewed Monday by Becky Quick as part of CNBC's "Squawk Box" program. The live interview took place in pressroom of The World-Herald, which Berkshire bought in December, as a follow-up to Saturday's release of the Berkshire Hathaway annual report.

Today's best investment, Warren Buffett said Monday, may be to buy a distressed single-family house with a 30-year, low-interest-rate mortgage.

That's because home prices are down in most places, interest rates are low and, Buffett said, the economy is improving and some day — he didn't say when — housing prices will turn around, too.

"Three or four or five years, I'd probably sell it at a very substantial profit relative to my equity," Buffett said during a wide-ranging interview on CNBC.

Full Article Here

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Monday, February 27, 2012, 11:48am
By Jim Cronin  -  From:  bankerandtradesman.com

Banker & Tradesman Staff Writer

MetLife, the largest portfolio lender in the insurance industry, said it originated more than $11 billion in commercial mortgage loans in 2011 through its Real Estate Investments Department - the company's largest production year on record.

MetLife's investment focus includes office, multi-family, industrial and retail properties in top metropolitan markets. Currently, the company has $40 billion in outstanding commercial mortgage loans, according to a statement.

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Has The Housing Market Hit Its Bottom?

From Forbes.com  -  1/10/2012

Has the U.S. housing market hit a bottom? Do we have further to go? When will a recovery start? These are the questions every homeowner and real estate investor are currently asking themselves — or should be.

Indeed national home price data indicates that the worst of the catastrophic home price implosion is behind us.  Clear Capital, a Truckee, Calif.-based real estate research firm, reports that 2011 saw a national decrease of 2.1% in home prices when compared to 2010. While still a loss, it’s measly drop compared to the double-digit plunges felt in the years before. For 2012, the firm’s Home Data Index (HDI) Market Report also predicts a humble 0.2% gain across all markets. “Overall, 2011 was a relatively quiet year for U.S. home prices compared to the last five years,” said Dr. Alex Villacorta, Clear Capital’s director of research and analytics, in the report. He further notes that “the current balance the market has found will continue through 2012.”

What does all of this mean? Housing from a national standpoint is flattening out; the macro level data suggests we could possibly be at the bottom or near to it.

Full Article Here

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U.S. Job Creation Unchanged in December

Gallup Job Creation Index at +14 -- same as in October and November

by Dennis Jacobe

Gallup

January 4, 2012

PRINCETON, NJ -- Job market conditions in the U.S. remain unchanged in December, with Gallup's Job Creation Index continuing at +14 for the third month in a row. While job creation has not improved during recent months, the jobs situation has not deteriorated as it typically does at this time of year. It instead remains near the high point for the year and is significantly better than the +10 of one year ago. The Job Creation Index average for 2011 is +13, about twice the 2010 average of +7.

Hiring and Firing Also Unchanged 

The Job Creation Index of +14 is based on 32% of workers nationwide saying their employer is hiring workers and expanding its workforce and 18% saying their employer is letting workers go and reducing its workforce -- the same as November. Hiring was at 29% and firing at 19% in December 2010.

Implications

The lack of change in Gallup's Job Creation Index in December provides some mildly good news about U.S. job market conditions. The Index is not seasonally adjusted and the job situation usually deteriorates at this time of year, meaning this lack of change is a mild positive. The same is true for the fact that the Index closed out 2011 near its high for the year.

Full Article Here

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From Bloomberg - By Timothy R. Homan - Dec 29, 2011 7:00 AM PT

The industry that triggered the 18-month recession that ended in June 2009 is showing signs of stabilizing as construction (CNSTTMOM) picks up, builder confidence improves and the number of houses on the market declines. Nonetheless, another wave of foreclosures may weigh on real-estate values next year.

Full Article Here

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From Wall Street Journal – December 22, 2011

By Mia Lamar and Nathalie Tadena

“Rates on 30-year fixed mortgages have been at or below 4% for the last eight weeks and now are almost 0.9 percentage point below where they were at the beginning of the year, which means that today’s home buyers are paying over $1,200 less per year on a $200,000 loan,” Freddie Mac Chief Economist Frank Nothaft said.

Full Article Here

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