Archive for November, 2013

What’s the life span of a house?

Friday, November 22nd, 2013

Concrete, brick,  copper, stone products can last a lifetime or a century. Major appliances may  conk out after just 10 to 15 years of normal use. Homebuyers should  consider remaining useful life of house components.   A house may survive for hundreds of years. But the individual components that  make up the house may — or…Read More »

Despite inventory shortages, homebuyers looking for bargains this winter

Thursday, November 21st, 2013

         Prospective homebuyers hoping to buy a home in the next four months say the lack of inventory is their biggest challenge, but many believe winter is a good time to buy because sellers are motivated to sell and more willing to negotiate. That’s according to a survey of more than 1,300 visitors to…Read More »

Housing Trends

Tuesday, November 19th, 2013

Housing Trends • Time on market for non-distressed properties remained steady. •   The damaged REO share of distressed property sales increased in many areas. • After months of declines, investor participation increased slightly in September. Time on Market ‘Great, clean homes sell in less than two weeks. Homes priced too high linger and get…Read More »

Quicken Loans beats big mortgage lenders on customer satisfaction

Friday, November 15th, 2013

Quicken Loans beat out a number of big banks on customer satisfaction to land the top spot on the J.D. Power 2013 U.S. Primary Mortgage Origination Satisfaction Study, which also found that the use of electronic closing documents improved customer satisfaction with that part of the process. On average, mortage lenders scored 771 on a…Read More »

More properties going to the auction block as judicial foreclosure states clear backlogs

Thursday, November 14th, 2013

Foreclosure backlogs continue to ease in states where courts handle the process as the number of properties headed to the auction block climbed for the 16th month in a row in October, according to the latest report from foreclosure data aggregator RealtyTrac. Overall U.S. foreclosure activity — filings of default notices, scheduled auctions and bank repossessions…Read More »

Increase in Interest Rates Had Minimal Impact on Housing Activity

Tuesday, November 12th, 2013

> Little Impact from Higher Interest Rates > FHA Share Declining > Chase Social Media Webinar > Housing Demand Remains Strong Issue  / November 2013 Increase in Interest Rates Had Minimal Impact on Housing Activity Three months after interest rates on mortgages started to increase, the housing market showed few signs of weakness due to…Read More »

Home prices post strongest annual gain in nearly 8 years

Friday, November 8th, 2013

Home prices in most metropolitan areas grew significantly in the third quarter, with the national median price rising at its fastest annual clip in nearly eight years, according to the National Association of Realtors (NAR). During the same period, existing homes sold at the fastest annual rate recorded in more than six years, according to NAR’s latest…Read More »

Santa Barbara, Reno are top ‘Turnaround Towns’

Friday, November 1st, 2013

With median list prices up 44.3 percent in the third quarter from a year ago and inventory down 24.5 percent over the same period, Detroit, despite filing for bankruptcy in July, experienced the most significant housing recovery from July to September, according to’s third-quarter “Turnaround Towns” report. Detroit ranked No. 7 on’s second-quarter…Read More »

New mortgage rules may crimp lending, but should build investor trust

Friday, November 1st, 2013

While some say new mortgage rules scheduled to take effect on Jan. 10 could crimp lending, the rules are key to building private investors’ confidence in the secondary market, according to a white paper released today by real estate data and technology firm CoreLogic. “Setting the rules and boundaries for consumer mortgage loans is one of the…Read More »