Real Estate Market Update: Politics, a recent update on the housing market forecast for 2013 and an update on housing starts

Editors note: This article was written for the November print edition of TNR for Real Estate Agents and Brokers, prior to knowing the 2012 presidential election outcome.

By Now We Know Who Our Next President Is:

As of the time of this writing, we are six days away from the election.  By the time you receive this at your offices, we will know who our next president is.  Will it be four more years of Obama, which has produced a central approach to federal governance and the highest levels of federal regulatory oversight ever placed on the private sector, or will it be Governor Romney, who is likely to sustain what Obama has put in place despite the campaign rhetoric?  There isn’t a clear difference between the two candidates regarding the housing markets.  [Read more…]

Case-Shiller: Home Prices Rise for Six Straight Months

 

 

The S&P/Case-Shiller U.S. National Home Price Index recorded a 3.6 percent gain in the third quarter of 2012 over the third quarter of 2011, marking the sixth consecutive month of increasing prices. In September 2012, the 10- and 20-City Composites posted annual increases of 2.1 percent and 3.0 percent, respectively. [Read more…]

Big changes to FHA loans and why you should buy now

A great video from my friends over at The RE Source . This is defiantly making a great case for why your clients (attention Realtors) or for you as a buyer should get off the fence and buy a home NOW, especially if you are using FHA financing!!  FHA has been increasing the fees associated to its loans over the past 3 years, and even now while they starting to show profits. Don’t wait too long and be stuck with Mortgage insurance for the life of the loan, or forcing you to refinance out of it to Higher rates later down the road.

 

How Debt Affects Your Ability To Borrow

Mortgage Rates are quite low. In fact locking-in a 30 year fixed rate mortgage around 3.5% is pretty common these days. Whether purchasing or refinancing, securing the best mortgage rate is on everyone’s mind. [Read more…]

5 tips for refinancing a mortgage

The lowest rates in decades are enticing, but do your research to make sure you’re really better off with a new loan. [Read more…]

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