Tuesday, April 14, 2015 / by David Monroe
Expert sees signs of recovering housing market in Cobb
by Ricky Leroux
April 10, 2015 04:00 AM | 2361 views | 0 | 12 | |
MARIETTA — The decreasing number of foreclosed Cobb properties advertised to be sold at auction in 2015, when compared to a year ago, is a sign of a recovering housing market, real estate experts say.
For the May auction, 295 properties were placed in the legal notices of the Marietta Daily Journal, compared to 310 advertised for the April auction. So far this year, 1,042 properties have been advertised for Cobb’s monthly auction of foreclosed properties.
Comparatively, the auction in May 2014 saw 368 properties advertised for sale, and this time last year, a total of 1,264 properties had been advertised for auction.
In Cobb County, if a foreclosure notice is printed for four consecutive weeks, the property is sold at an auction on the ...
Monday, April 13, 2015 / by David Monroe
Rent vs. Buy: How to Overcome Buyer Concerns
DAILY REAL ESTATE NEWS | MONDAY, APRIL 13, 2015
New research shows that home ownership tends to be a smarter decision than renting for many Americans, particularly now when rental costs are skyrocketing.
The monthly payment on a median priced home is more affordable than the monthly fair market rent on a three-bedroom property in 76 percent of the U.S. counties, according to RealtyTrac’s Residential Rental Property Analysis, which encompassed 461 counties nationwide with populations of at least 100,000.
Home ownership may not be for everyone. But for many, it makes sense.
Lawrence Yun, NAR's chief economist, says that families with home ownership tend to have a much higher net worth overall than renters. Home owners have the benefit from equity and long-term price appreciation.
At NAR's Economists' Outlook blog, the following chart is shown in responding to buyers concerns over "I can’t afford to buy! ...
Wednesday, April 8, 2015 / by David Monroe
More Proof Home-Buyer Demand Is Rising
DAILY REAL ESTATE NEWS | WEDNESDAY, APRIL 08, 2015
Mortgage applications for home purchases rose last week for the third consecutive week, a fresh sign that home-buyer demand is increasing. Applications, which are viewed as a leading gauge of home-buying activity, were up 7 percent week-over-week and are now 12 percent higher than the same week one year ago, according to the Mortgage Bankers Association.
"Purchase mortgage application volume last week increased to its highest level since July 2013, spurred on by still-low mortgage rates and strengthening housing markets," says Mike Fratantoni, MBA's chief economist.
The MBA's seasonally adjusted mortgage application index showed that overall volume, including for purchases and refinancing, rose 0.4 percent week-over-week for the week ending April 3. The modest rise was due to a sluggish number of applications for refinancing last week.
Despite low mortgage rates, refinance applications ...
Wednesday, April 8, 2015 / by David Monroe
The Top 10 Features for New Homes
DAILY REAL ESTATE NEWS | MONDAY, APRIL 06, 2015
The outdoor kitchen and two-story foyers are starting to lose favor among new home shoppers, while energy efficiency and bigger closets are gaining in popularity, according to a new survey from the National Association of Home Builders. NAHB asked builders to rank home features from 1 to 5 on how likely they were to include them this year in single-family homes they build this year.
An increased interest in energy efficiency is decreasing interest in two-story foyers and rooms, Rose Quint, NAHB’s assistant vice president for survey research, told MarketWatch. "Consumers consider those spaces to be energy inefficient," she says.
Here are some of the least likely features that builders say they will include in new homes this year:
Outdoor kitchen (cooking, refrigeration, and sink)
Laminate countertops in kitchen
Two-story family room
Two-story fo ...
Tuesday, April 7, 2015 / by David Monroe
Most Americans Want to Move in Retirement
DAILY REAL ESTATE NEWS | FRIDAY, APRIL 03, 2015
Three out of five Americans want to spend their retirement in another city or state from where they currently live, according to a Bankrate's "Would you Move in Retirement?" survey of about 1,000 adults nationwide.
Seventy-three percent of those surveyed who fall between the ages of 18 and 29 say they’d consider moving when it's time to retire, but that rate drops to 62 percent for those between the ages of 30 and 49, and 50 percent for ages 50 to 64. Only about 20 percent of those surveyed age 65 and older said they’d consider moving.
"It makes sense that as people approach retirement age, they become less enthusiastic about the idea," says Nari Rhee, a University of California, Berkeley retirement expert. "Once you've established roots in a community, it's much harder to move away from your friends and your support network -- even if the cost of living is lower ...