Archive for August, 2013

Higher Mortgage Rates Push Down Pending Home Sales

Saturday, August 31st, 2013

 Higher mortgage rates negatively impacted pending home sales, according to new data from the National Association of Realtors. The Pending Home Sales Index, the leading measure of contract signings in the residential housing market, declined 1.3 percent from June to July, according to the latest numbers from the National Association of Realtors. Though the index…Read More »

Mortgages will remain hard to get until common sense returns

Friday, August 30th, 2013

Long-term rates stayed about the same this week, mortgages just above 4.5 percent for most products. There are many things to write about this week, but the most important news for most Americans is the first retreat from Dodd-Frank toward common sense. Economic data stayed in pattern — reasonable growth without acceleration. Overall orders for…Read More »

Easing of rules a ‘victory for mortgage bankers’ and homebuyers

Wednesday, August 28th, 2013

Mortgage lenders won’t have to retain a 5 percent “risk retention” stake when loans are securitized just because borrowers put less than 20 percent down, federal regulators said today in proposing new guidelines for “qualified residential mortgages.” A previous proposal to exempt loans with loan-to-value ratios of less than 80 percent from the 5 percent…Read More »

Home prices across the US defy gravity

Tuesday, August 27th, 2013

Home prices are going up, up, up, but it’s not a bubble just yet. The surge in home prices over the past year may have some home buyers wondering if the market has gotten ahead of itself. Rising interest rates aside, housing prices in most parts of the country appear to have plenty of room…Read More »

Don’t forget sales taxes on vacation-home rentals

Monday, August 26th, 2013

Now is the time of year when many people rent out their vacation homes. If you rent out your vacation home (or main home) for 14 days or less during the year, the rental income you receive is income tax-free. However, this doesn’t mean no taxes are ever involved when you rent out your vacation home….Read More »

The secret life of a real estate agent

Saturday, August 24th, 2013

The life of a real estate professional is highly nuanced and, for the most part, downright mysterious. On the one hand, you have this simplified misconception that all it takes to be an agent is to get a license, be somewhat personable and like houses. On the other hand, you have the reality that each…Read More »

Orlando condo prices double in 3 years

Friday, August 23rd, 2013

Orlando-area condo prices have more than doubled in less than three years, a new report shows. The median price for a condominium or townhouse in the four-county area during July was $104,000, according to a report released by Florida Realtors Wednesday. During 2010, the units traded for a median price of $50,400 — making Orlando…Read More »

The Top-Selling Master-Planned Communities Mid-Year 2013 Update

Thursday, August 22nd, 2013

Homes at the nation’s top-selling master-planned communities (MPCs) sold at a much faster pace in the first half of 2013 than they did in 2012. Every year since 1994, RCLCO has conducted a national survey identifying the best-selling MPCs. We recently checked-in with the top communities of 2012 to see if they’re maintaining or exceeding…Read More »

Home sales surge in July despite higher interest rates

Thursday, August 22nd, 2013

Existing-home sales increased 6.5 percent to a seasonally adjusted annual rate of 5.39 million in July, up from a downwardly revised rate of 5.06 million in June, according to the National Association of Realtors (NAR). “Mortgage interest rates are at the highest level in two years, pushing some buyers off the sidelines,” said NAR Chief…Read More »

Mortgage rates on march to 5 percent

Monday, August 19th, 2013

Long Treasurys broke upward, out of the trading range of the last eight weeks. Not by much, but out, the 10-year T-note above 2.8 percent for the first time in more than two years — 2.86 percent at this moment. Mortgages are stickier, the rise negligible (investors have lost fear of another refi wave), but…Read More »