Mack's Blog » Interesting Things

Americans Stay Put

Magoo — Wed, 02 Nov 2011 19:25:37 +0000

A message to all members of GLOZAL – A Social Real Estate Network

Americans are no longer flocking south to Sun Belt states in large numbers as they did prior to the recession, a new study finds. The typical migration pattern from the cold, snowy north to the sunny south has slowed dramatically, according to a new study by the Carsey Institute at the University of New Hampshire. Researchers evaluated three years’ worth of data to……

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Survey Reveals 5 Home Buying Myths] Category[Thing]

Magoo — Fri, 28 Oct 2011 21:33:51 +0000

GLOZAL – A Social Real Estate Network

A message to all members of GLOZAL – A Social Real Estate Network

Overall, today’s home buyers tend to be fairly knowledgeable about the real estate market, but there are still a few points of confusion in the process, a new survey by Zillow of 1,000 potential home buyers finds.

Here are the five main areas of confusion the survey revealed….

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Renters Spending 5% More Than Home Owners] Catagory[Thing]

Magoo — Thu, 27 Oct 2011 14:26:45 +0000

GLOZAL – A Social Real Estate Network

A message to all members of GLOZAL – A Social Real Estate Network

Rising rents are forcing renters to outspend home owners on housing costs, according to a new study. Since 2005, home owners’ housing expenses have climbed from 31.9 percent of their household budget to 33.2 percent. On the other hand, in that same time period, renters’ expenses have jumped from…..

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Magoo — Thu, 15 Sep 2011 04:10:29 +0000

Forbes reveals the healthiest
cities, taking into account such factors as clean air quality,
residents’ health, and a community’s promotion of exercise and healthy
living. Here are the top seven cities to make its “healthy cities” list:

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Magoo — Fri, 09 Sep 2011 13:53:08 +0000

The rental market is continuing to heat
up and can offer potentially big returns for buyers willing to jump into
the landlord role.

For investors looking to take advantage
of low record-reaching mortgage rates and big discounts on home prices,
the opportunities are plenty. Rents are rising and demand is up too,
partially due to…..

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Magoo — Fri, 05 Aug 2011 13:46:39 +0000

The inventory of homes on the market in several areas have begun to decline. It is debatable whether or not the market is improving or that owners are frustrated and removing their homes from the market. Either way lowering inventory levels should assist the market to stabilize. Once the number of homes drops and better matches the number of buyers, the process of prices moving up will begin. At some point when the perception is that prices are moving up again, buyers will become more comfortable in making offers which should translate into more sold homes.

Magoo — Mon, 07 Mar 2011 22:20:18 +0000

Higher Costs Ahead for FHA Mortgages

An article published online at Marketwatch.com ("Higher costs ahead for FHA-insured mortgages"
by Amy Hoak) explains why FHA-insured mortgages have grown as a
percentage of the mortgage market AND the changes ahead for the FHA.

*** BEGIN QUOTE ***

As one of the few backers of low-down-payment mortgages in a time of
stringent lender underwriting, the Federal Housing Administration has
become a primary means of financing for U.S. home buyers.

But as the government moves to reform the mortgage market, the FHA is
heading for some changes that could limit borrowers' access to the loans
- or at least make them more expensive.

About 56% of mortgages for a home purchase were FHA-insured in 2009, up from 6% in 2007, according to a report from the George Washington University School of Business.

*** END QUOTE ***

To read more, CLICK HERE.

[SOURCE: Marketwatch.com]

Existing Home Sales Rise :Things :Interest

Magoo — Fri, 25 Feb 2011 02:46:08 +0000

Existing Home Sales Rise Again!

January saw an increase in existing home sales: read more

De-Mystifying Credit Scores

Magoo — Mon, 21 Feb 2011 22:35:58 +0000

De-Mystifying Credit Scores

With credit scores playing an ever-larger role in qualifying for
financing a home purchase, knowing how scores are calculated can help you help your clients understand the process!

A very readable article by Realty Times Managing Editor Carla Hill ("Explaining Credit Scores")
provides a helpful summary of how Experian, TransUnion, and Equifax
arrive at their scores. In it she tackles a few of the more common
questions, such as whether or not someone should close a credit card account with a zero balance or an unused card.

To read the entire article, CLICK HERE.

[SOURCE: Realty Times]

Banks Pushing Higher Down Payments

Magoo — Mon, 21 Feb 2011 22:33:29 +0000

Banks Pushing Higher Down Payments

The Obama administration is calling for a phased-in hike in the minimum down payment on conventional mortgages to 10 percent.
Experts say higher down payments combined with rising interest rates
could further depress home prices, with Mortgage Bankers Association
President and CEO John Courson adding that lower affordability could
prompt some consumers to rent instead.

This past week, the Wall Street Journal also reported:

"The median down payment in nine major U.S. cities rose to 22% last year
on properties purchased through conventional mortgages, according to an
analysis for The Wall Street Journal by real-estate portal Zillow.com.
That percentage doubled in three years and represents the highest median down payment since the data were first tracked in 1997."

[SOURCES: Wall Street Journal; Information, Inc.]