January 4th 2017
Foreign Real Estate Investors Not Dissuaded by Interest Rates, New Administration
Foreign investors continue to view U.S. real estate as a sound investment, with an astounding 95 percent of those recently surveyed by the Association of Foreign Investors in Real Estate (AFIRE) reporting they plan to “maintain or increase their investment” in 2017. U.S. real estate was ranked No. 1 by respondents for both security and stability, as well as opportunity for capital appreciation..
And the Top-Ranked Metros Are…
The latest Multi-Indicator Market Index (MiMi) by Freddie Mac detailed the improvement to four-fifths of the nation’s housing markets. The analysis revealed that Dallas (1), Nashville (2), Honolulu (3), Odgen, Utah (3); and Los Angeles (5) were the top five metros. MiMi monitors and measures the stability of the nation's housing market, as well as the housing markets of all 50 states, the District of Columbia, and the top 100 metro markets, according to Freddie Mac.
Wage Growth and the Affordability Crisis
Economists have cited gains in hourly wages as one of the keys to improving affordability in housing. Are wages finally starting to keep up with home price appreciation?
What to Do Before You Get Settled in Your New Home
Buying a new house is an exciting adventure to embark on. Whether you are a newlywed just beginning your life with your significant other or a retiree looking to downsize, purchasing a new home is a time of new beginnings. Despite all of the anticipation of owning a new home, there are some housekeeping items that should be taken care of prior to settling in.
Foreign Buyers: U.S. Is Tops for Real Estate
The United States remains the world’s most popular choice for foreign real estate capital, according to the latest annual survey of overseas investors by the Association of Foreign Investors in Real Estate.
Ninety-five percent of global investors surveyed said they planned to increase or maintain their level of U.S. investment.
Housing Shows ‘Flashes of Promise’ as New Year Starts
The housing market has shown “flashes of promise” as 2017 begins though growth remains “frustratingly slow” as of late, according to the National Association of Federal Credit Union (NAFCU)’s December Economic & CU Monitor.
January 3rd 2017
Post-Disaster, Families Rebuild Bigger, Better
About 120 major disasters have struck somewhere in the U.S. since 1996, according to the Federal Emergency Management Agency. But homeowners are showing some resilience. Following hurricanes, wildfires, earthquakes, or floods, they are rebuilding bigger and stronger homes that can better withstand the forces of Mother Nature.
This May Be It for the Luxury Rental Boom
A seven-year boom in the high-end apartment sector may be nearing an end. Landlords of luxury rental properties likely will need to cut rents and offer concessions as supply starts to outstrip demand across the country, The Wall Street Journal reports.
How Will the Trump Administration Affect the U.S. Housing Market?
New York billionaire Donald Trump, President-elect of the United States, made his early fortune in the real estate sector. Business analysts who have been covering Trump for decades often mention that his business acumen is not as keen as that of his late father, Fred Trump; nonetheless, his business holdings clearly indicate that the President-elect is a firm believer in the economic power of the American housing market.
What Demographics Will Fuel Housing Demand in 2017?
Millennials and the baby boomer population will be demographics to watch in the new year, as the housing decisions they make will increase demand for the next 10 years, according to the 2017 National Housing Forecast reportfrom Realtor.com which details the top housing trends and 100 largest metropolitan markets to watch.
Does Homebuyer Education Lead to Housing Stability?
Efforts to educate new homebuyers are paying off, according to HUD. This week, HUD published early findings from a large-scale study into the benefits of counseling buyers, The First-Time Homebuyer Education and Counseling Demonstration and found that distance and telephone counseling programs in mortgage literacy and preparedness, homebuyer outcomes, and loan performance are indeed helping borrowers make better choices to achieve housing and financial stability.
Rise in Holiday Cheer … and Mortgage Rates?
Last month was not only high in Christmas spirit and morale, it also included an increase in mortgage rates. According to the latest Ten-X Residential Real Estate Nowcast, existing home sales have seen a month-over-month decrease, which due to rising mortgage rates.
80% of Housing Markets Are Getting Better
The majority of the top 100 housing markets nationwide are improving compared to their historic benchmark range of housing activity, according to Freddie Mac’s Multi-Indicator Market Index, known as MiMi.
4 Things NOT to Do When Putting Your Home on the Market
So you've decided to put your home on the market. Congratulations! Hopefully, you've brought a rockin' REALTOR® on board to help you list your spot, and together you've done your due diligence on what to ask for. As you start checking things off your to-do list, it's also important to pay mind of what not to do. Below are a handful of things to get you started.
The Modern Mortgage: From Pre-Crisis to Present
After the rise of the housing bubble and the subsequent Great Recession resulting in the housing crisis, what has stayed consistent to the housing and mortgage industry has been the conventional, 30-year, fixed-rate mortgage.
The Alternate Housing Market Universe
It has been determined by industry experts that if the housing market follows the same trajectory it is currently on, the median home price in the U.S. will be equal to that of prices before the housing crisis by 2017. A recent report from Zillow, though, cautions correlating prices returning to these levels with market recovery. The report states that instead of this milestone meaning recovery, it still means that home prices are well below what they would be if the housing bubble and crisis had never occurred but instead grown at historic norms.
January 2nd 2017
The Fed Raised the Rates…Now What?
For the first time in a year and only the second time in a decade, the Federal Open Market Committee (FOMC), the policy making arm of the Federal Reserve, voted on Wednesday in its eighth and final meeting of the year to raise the federal funds target rate by 25 basis points up to the 0.50 to 0.75 percent range.
Obama and Warren Reflect On Wall Street Reform’s Progress
Sen. Elizabeth Warren, who rose to prominence in the years immediately after post-crisis as the architect of the Consumer Financial Protection Bureau (CFPB), did not make the cut as Hillary Clinton’s VP.
Foreign Real Estate Investors Not Dissuaded by Interest Rates, New Administration
Foreign investors continue to view U.S. real estate as a sound investment, with an astounding 95 percent of those recently surveyed by the Association of Foreign Investors in Real Estate (AFIRE) reporting they plan to “maintain or increase their investment” in 2017. U.S. real estate was ranked No. 1 by respondents for both security and stability, as well as opportunity for capital appreciation.
Housing Value at Record-High:
Industry Leader Wants to Streamline FHA
The Trump administration transition team has already announced their selections for positions that will heavily impact the housing and mortgage industry such as HUD Secretary and Treasury Secretary, but one position that has yet to be announced is that of FHA Commissioner. Currently, several names have been thrown into the ring to follow behind FHA Acting Commissioner, Biniam Gebre including Debra Still, President and Chief Executive of Pulte Mortgage, Rep. Scott Garrett (R-New Jersey), and Ed Brady, Chairman of the Board for the National Association of Home Builders.
Trump Officially Taps Carson for HUD Secretary
As initially reported by DS News, President-elect Donald Trump has been on-record that he favored Dr. Ben Carson as the next HUD Secretary. On Monday, CNN reported that this preference became official with Trump's transition team announcing the appointment.
Looking Ahead: Tax Reform in 2017
As we kick off 2017 with a new administration and the start of the 115th Congress, the National Association of REALTORS® (NAR) will ramp up its messaging on the social and financial benefits of homeownership. While NAR has long touted the benefits of owning a home, it’s more important than ever to send a strong message to lawmakers about NAR’s priorities as Congress considers tax reform proposals in 2017.
Consumer Confidence Catapults to 13-Year High
Confidence among consumers catapulted to a 13-year high in December, posting a 105.5 Expectations reading of The Conference Board Consumer Confidence Index®, the highest level since 107.4 in December 2003. The upshot builds on optimism expressed in November, with the Index overall posting 113.7 in December.