Homebuilder Confidence Rises To 5-Year High

Aug 16

Homebuilder Confidence Rises To 5-Year High

August 16, 2012 By Joshua Oliver Leave a Comment

Home builder confidence rises again. For August 2012, the National Association of Homebuilders reports the monthly Housing Market Index at 37 -- an increase of more than 100% from one year ago and the highest HMI value since February 2007. The Housing Market Index is an indicator of homebuilder confidence and when it reads 50 or better, the HMI suggests favorable conditions for home builders. Readings below 50 suggest unfavorable conditions for builders. Despite the recent rise in home … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Selling Real Estate in Washington, DC Tagged With: HMI, Home Builders, Home construction, Housing Market Index, July, NAHB, National Association of Home Builders, Real estate pricing, Sales, Washington D.C.

Aug 10

5 States Home To 50% Of Foreclosure Activity Nationwide

August 10, 2012 By Mark Mlakar Leave a Comment

Foreclosure pipelines are re-filling nationwide. According to data from RealtyTrac, a national foreclosure-tracking firm, the number of foreclosure filings dipped below 192,000 in July 2012, a 3 percent decrease from the month prior. RealtyTrac defines a "foreclosure filing" as any foreclosure-related action, including a Notice of Default, a Scheduled Auction, or a Bank Repossession. July marks the 22nd straight month during which foreclosure filings fell on a year-over-year basis. At … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Connecticut, foreclosure, Foreclosure Filing, Foreclosures, July, New Jersey, North Dakota, RealtyTrac, South Dakota, Washington D.C.

Jun 22

How To Keep Your Home House Fly Free

June 22, 2012 By Jessica Wilkie Leave a Comment

As the calendar turns to June and the temperatures start to rise in District of Columbia and nationwide, we begin to spot more bugs, insects and pests as compared to during the winter. Hiring an exterminator is one way to limit the number of ground-based bugs in your home. For example, periodic treatments can help to keep ants, beetles and termites at bay. For airborne pests, however, prevention can be more difficult. House flies can be especially nagging. They often enter through open … [Read more...]

Filed Under: Neighborhood News Tagged With: Environmentally-Friendly, House Fly, Housefly, Pest Control, Washington D.C.

May 24

New Home Sales Rise For 7th Month Out Of 8

May 24, 2012 By Justin Paulhamus Leave a Comment

The April New Home Sales report suggests that the market for newly-built homes is as strong as the market for existing ones. According to the U.S. Census Bureau, the number of new homes sold rose 3.3 percent in April to a seasonally-adjusted, annualized 343,000 units sold -- its second-highest reading since April 2010. April 2010 marked the last month of that year's federal home buyer tax credit program. April's New Home Sales data also marks the 7th of eight consecutive months during … [Read more...]

Filed Under: Selling Real Estate in Washington, DC Tagged With: Buyer, Homebuilder Confidence, Mortgage loan, New Home Sales, New Home Supply, Real estate pricing, Seasonal adjustment, Supply and demand, United States Census Bureau, Washington D.C.

Dec 23

Housing Starts Show Strength In Housing

December 23, 2011 By Joshua Oliver 3 Comments

The new construction housing market continues to show strength across the country. According to the U.S. Census Bureau, Single-Family Housing Starts rose to 447,000 units on a seasonally-adjusted, annualized basis in November -- a 2 percent increase from October. A "Housing Start" is defined as breaking ground on new home construction. November's figures mark the third straight month of Single-Family Housing Starts gains. The new construction metric is now 15 percent above its … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Building Permits, Census Bureau, Construction permit, Housing Starts, Mortgage loan, New Home Construction, November, Point (mortgage), Real estate economics, Single-family detached home, Washington D.C.

Dec 16

Mortgage Payments Fall 12% Since February 2011

December 16, 2011 By Joshua Oliver 9 Comments

As mortgage rates drop, so do housing payments. It's a good time to consider refinancing your home, or making an offer on a new one. Mortgage payment affordability has never been so high in history. According to Freddie Mac, the average 30-year fixed rate mortgage rate is now 3.94 percent -- an all-time low -- with an accompanying 0.8 discount points. This means that in order to get access to the 3.94 percent rate, District of Columbia homeowners and home buyers should expect to pay a … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: 30-Year Fixed, Fixed rate mortgage, Freddie Mac, Loan, Mortgage Bankers Association, Mortgage loan, PMMS, Refinancing, Washington D.C.

Oct 26

District of Columbia Posts One Year Gain in Home Values

October 26, 2011 By Justin Paulhamus 1 Comment

The August 2011 Case-Shiller Index was released this week. On an monthly basis, 10 of 20 tracked markets worsened. On an annual basis, valuation degradation was worse. Only Detroit and Washington, D.C. posted higher home values in August 2011 as compared to August 2010, rising 2.7% and 0.3%, respectively. However, the index has been moving in the right direction. Since bottoming out in March of this year, the Case-Shiller Index is up nearly 4 percent. As home buyers and sellers in … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Case-Shiller Index, Case–Shiller index, Home Values, Real estate pricing, Standard & Poors, Washington D.C.

Oct 04

Conforming Loan Limits Drop In High-Cost Areas

October 4, 2011 By Joshua Oliver Leave a Comment

For homeowners in high-cost areas nationwide, conforming and FHA loan limits have dropped by as much as 14 percent. Effective October 1, 2011, the temporary mortgage loan limits that allowed for non-jumbo loan sizes of up to $729,750 are no longer. $729,750 is above the "normal" loan limit of $417,000. The elevated limits were put in place in 2008 as the economy and financial sector entered its crisis. At the time, there was little private money to serve buyers and would-be … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Conforming loan, Fannie Mae, Freddie Mac, Jumbo mortgage, Loan Limits, Mortgage loan, Washington D.C.

Sep 08

After A Pause, Mortgage Guidelines Resume Tightening

September 8, 2011 By Barbara Morrocco 1 Comment

Mortgage guidelines appear to be tightening with the nation's largest banks. In its quarterly survey to senior loan officers nationwide, the Federal Reserve uncovered that a small, but growing, portion of its member banks is making mortgage approvals more scarce for "prime" borrowers. A prime borrower is described as one with a well-documented payment history, high credit scores, and a low monthly debt-to-income ratio. Of the 53 responding "big banks", 3 reported that mortgage … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Adjustable-rate mortgage, Credit score, Debt-to-Income, Federal Reserve, Fixed rate mortgage, Loan, Mortgage loan, Senior Loan Officer Survey, Washington D.C.

Aug 12

Foreclosures Sink To 4-Year Low

August 12, 2011 By Mark Mlakar 1 Comment

Foreclosure activity continues to slow. According to RealtyTrac, a national foreclosure-tracking firm, the number of foreclosure filings nationwide fell 35 percent as compared to July 2010, a statistic suggesting that the housing market continues to improve. "Foreclosure filing" is a catch-all term encompassing default notices, scheduled auctions, and bank repossessions. Filings fell to a 44-month low in July 2011. For all the improvement, though, activity remains concentrated in … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Selling Real Estate in Washington, DC Tagged With: Distressed Homes, foreclosure, july 2011 foreclosures, National Association of Realtors, Washington D.C.