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    Monthly Archives: December 2011

    Low Rates Send Mortgage Applications Soaring 12.8%

    Published December 8, 2011 | By teamgreen

    Mortgage applications, a future gauge of home buying, had a sharp jump as more consumers rushed to take advantage of low interest rates, the Mortgage Bankers Association reports. 

    For the week ending Dec. 2, mortgage applications increased 12.8 percent. Applications for home purchase jumped 8.3 percent from a week earlier while applications for refinancing soared 15.3 percent.

    Of the home purchase applications, 85.5% were for fixed-rate 30-year loans.

    “Coming out of the Thanksgiving holiday, applications increased significantly as mortgage rates dropped to their lowest levels in about two months,” Michael Fratantoni, MBA vice president of research and economics, said in a statement. “In particular, refinance applications increased sharply, with some lenders seeing refinance volume double. Despite this surge, aggregate refinance activity is still below levels reported two weeks ago. Some lenders indicated they are beginning to see an increase in HARP loans, but that increase is still a small portion of the move this week.”

    Source: “Mortgage Applications Jump 12.8% as Refinancing Volume Soars,” HousingWire (Dec. 7, 2011)

    Posted in Buyers, Community Information, Market Information, Real Estate Sales and Market Statistics, Sellers | Tagged , , , , , , | Leave a comment

    Home Energy Efficiency Tax Credits to Expire Dec. 31

    Published December 7, 2011 | By teamgreen

    Home owners may be able to take advantage of several tax credits for energy efficiency home improvements from this year. But they need to hurry: The tax credits are set to expire Dec. 31, and Congress has yet to renew them for 2012. 

    “Making efficiency improvements this year will lower home energy bills and improve home comfort for years to come, while also reducing 2011 federal income tax bills,” Kateri Callahan, president of the Alliance to Save Energy.

    The allowance for the tax credits that home owners may be eligible for include:

    • 10% of the cost of insulation and sealing materials, exterior doors, and certain types of energy efficient roofs.
    • 10% of the cost, up to $200, of exterior windows or skylights.
    • $300 for electric heat pump water heaters, electric heat pumps, central air conditioners, biomass stoves, and natural gas, propane, or oil water heaters.
    • $50 for advanced main air circulating fans.
    • $150 for natural gas, propane, oil furnace, or hot water boilers.

    For more information about applying for these tax credits, visit the Alliance to Save Energy Web site.

    Posted in Buyers, Community Information, Market Information, Real Estate Sales and Market Statistics, Sellers | Tagged , , , , , , | Leave a comment

    Prices Mostly Stabilize: Why Aren’t More Talking About It?

    Published December 6, 2011 | By teamgreen

    There was a great article today from Realtor.com that deserves to be shared.  We have been pondering this question for about a year now.

    An improving job picture and prices stabilizing for non-distressed homes are all signs that point to a housing recovery taking shape, Barclays Capital analyst Stephen Kim told HousingWire.

    “In the absence of a government home buyer incentives, prices for non-distressed home sales have stabilized for almost a year,” Kim said. “This is the most important trend in the housing industry right now, and we are amazed at how little attention it has been getting from the media and the street. This stability on the part of nondistressed prices has occurred despite a very high share of distressed activity and continued declines in overall prices.”

    The key to when the housing recovery will largely take off “depends primarily on when these first-time buyers decide it is safe to buy a house,” Kim told HousingWire.

    Source: “Barclays Analyst Sees Housing Rebound Coming in 2012,” HousingWire (Dec. 5, 2011)

    Posted in Buyers, Community Information, Market Information, Real Estate Sales and Market Statistics, Sellers | Tagged , , , , , | Leave a comment

    Are the Holidays a Good Time to Sell?

    Published December 6, 2011 | By teamgreen

    Now here’s a question we get asked each and every year around this time and here’s a statistical answer for you based on facts.

    Sixty percent of real estate professionals advise their sellers to list a home during the holidays because it’s a good time to sell, according to a new survey conducted by Realtor.com. 

    Why are the holidays such a good time to sell? Seventy-nine percent of the agents surveyed said that more serious buyers come out during the holidays, and 61 percent say less competition from other properties make it a great time to sell. Plus, 17 percent of agents say the cold weather is actually a benefit, making homes feel more cozy.

    Online listing photos become even more crucial during the holiday season, according to the survey. Slightly more than half of agents say that the photos are more important because sellers tend to offer less open houses around the holidays, and so the online photos help buyers decide the properties to see and which ones to possibly bypass.

    The biggest hurdles sellers face during the holidays, however, are keeping a home ready to show (clean and staged) as well as winter weather conditions and buyers’ vacation schedules, the Realtor.com survey found.

    Posted in Buyers, Community Information, Market Information, Real Estate Sales and Market Statistics, Sellers | Tagged , , , , | Leave a comment

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