Author: admin

By Susanne Dwyer

On the heels of a summer home-buying season marked by record demand and sky-high prices, the residential real estate market is shaping up for its hottest fall in a decade, according to new monthly data on inventory and demand on realtor.com®. Homes for sale in September are moving 4 percent more quickly than last year as prices continue to hit new highs.

The median age of listings on realtor.com®—an indication of market inventory—in September is expected to be 77 days, three days less than one year ago. That is five days more than last month, a change which reflects the housing market’s typical seasonal slowdown as summer ends and schools resume. Total inventory remains considerably lower than a year ago, with less than 450,000 new listings entering the market in September.

The median home was listed for $250,000, 9 percent more than a year ago and unchanged from last month. That continues this year’s record-setting trend and marks a new high for September.

“House hunters who were shut out this summer because of fierce competition could fare better this fall, with more opportunities to buy and mortgage rates still near all-time lows,” says Jonathan Smoke, realtor.com® chief economist. “But don’t expect bargains—prices haven’t come down from this summer’s record highs. Overall, the fundamental trends we have been seeing all year remain solidly in place as we enter the traditionally slower sales season, and pent-up demand remains substantial as buyers seek to get a home under contract while rates remain so low.”

Key Statistics:

• Median age of inventoryin September is expected to be 77 days, down 4percent from September 2015 and up 7 percent from last month.
  

• Median listing pricefor September should reach $250,000, matching last month’s record high and increasing 9 percent over this time last year.
  

• Listing inventoryin September should show a 2 percent decrease over August. Additionally, inventory should still show a decrease of 9 percent year-over-year.

For more information, visit www.realtor.com.

…read more

From:: Finance and Economy

By Susanne Dwyer

On the heels of a summer home-buying season marked by record demand and sky-high prices, the residential real estate market is shaping up for its hottest fall in a decade, according to new monthly data on inventory and demand on realtor.com®. Homes for sale in September are moving 4 percent more quickly than last year as prices continue to hit new highs.

The median age of listings on realtor.com®—an indication of market inventory—in September is expected to be 77 days, three days less than one year ago. That is five days more than last month, a change which reflects the housing market’s typical seasonal slowdown as summer ends and schools resume. Total inventory remains considerably lower than a year ago, with less than 450,000 new listings entering the market in September.

The median home was listed for $250,000, 9 percent more than a year ago and unchanged from last month. That continues this year’s record-setting trend and marks a new high for September.

“House hunters who were shut out this summer because of fierce competition could fare better this fall, with more opportunities to buy and mortgage rates still near all-time lows,” says Jonathan Smoke, realtor.com® chief economist. “But don’t expect bargains—prices haven’t come down from this summer’s record highs. Overall, the fundamental trends we have been seeing all year remain solidly in place as we enter the traditionally slower sales season, and pent-up demand remains substantial as buyers seek to get a home under contract while rates remain so low.”

Key Statistics:

• Median age of inventoryin September is expected to be 77 days, down 4percent from September 2015 and up 7 percent from last month.
  

• Median listing pricefor September should reach $250,000, matching last month’s record high and increasing 9 percent over this time last year.
  

• Listing inventoryin September should show a 2 percent decrease over August. Additionally, inventory should still show a decrease of 9 percent year-over-year.

For more information, visit www.realtor.com.

…read more

From:: Real Estate News

By Susanne Dwyer

Brokers will find a great deal of valuable information about the state of the industry from the National Association of REALTORS®’ (NAR’s) 2016 Profile of Real Estate Firms. For instance, the vast majority of real estate firms have an optimistic outlook for the future of the industry’s profitability and growth, and 43 percent of real estate firms expect competition to increase in the next year from non-traditional firms, down from 45 percent in 2015.

The report is based on a survey of firm executives who are NAR members and provides insight into the business characteristics and activity of firms, benefits and education provided to agents and outlook for the future. Read more here.

…read more

From:: Real Estate News

Proctor has developed a proprietary client portal, Intelligent Insurance Manager, to simplify the vendor management process. This portal goes beyond just tracking residential and commercial loans, allowing clients to access recorded borrower phone calls and management trend reports. …read more

From:: Real Estate Wire

MyAMC assists in underwriting interpretation and potential investor issues regarding appraisal challenges. The company was part of the early testing of Fannie Mae’s Collateral Underwriter, an automated risk assessment tool, and can provide guidance in resolving challenges stemming from CU. …read more

From:: Real Estate Wire

People shouldn’t be worried about the 3% down program. The FHA, USDA and VA have been doing it for years, and with the right guidelines and criteria in place these are great for borrowers. Whatever is best for borrowers and prudent lending standards is what all lenders and originators should be looking to offer. …read more

From:: Real Estate Wire

People shouldn’t be worried about the 3% down program. The FHA, USDA and VA have been doing it for years, and with the right guidelines and criteria in place these are great for borrowers. Whatever is best for borrowers and prudent lending standards is what all lenders and originators should be looking to offer. …read more

From:: Real Estate Wire