National News

Realtors’ Suggestions for Saving the Housing Market

The National Association of Realtors, along with everyone else, would like to save the housing market. According to the Chicago Tribune, these are their ideas for fixing the industry: creating safe mortgage financing for qualified borrowers, revising underwriting standards,

Average Home Equity Down, Wealth Gap Widens

Home equity decreased across all racial groups in 2009: whites’ average home equity fell to $95,000; in 2005, a white’s home equity was $115,364 on average; blacks’ home equity fell to $59,000 in 2009, creating an equity loss of

Despite Varying Forecasts, Experts Agree on 2011-2012 Home Sale Increases

Everyone has a different outlook on the housing market, but where you get your information from can also alter your opinion for better or worse. The truth is, nobody is entirely sure what will happen to home sales or

Dallas’ Seasonally Adjusted Case-Shiller Index Decreased – Prices Increase with Buyer Demand

According to the most recent Case-Shiller indices, Dallas had an index of 114.31 this May, creating a 0.9 percent increase (non-seasonally adjusted) since April after a 0.4 percent increase from March to April, but the yearly change was still

Predicting Future Demand with the PRIZM Model

In an effort to predict the demands for building within the current housing market, Builder Magazine installed the PRIZM model, a tool that is made up of 66 segments typically used to describe “demographic, psychographic, and behavioral similarities in

What NAR and NAHB Spend Compared to Google and Facebook

A recent comparison by Agent Genius showed that while many criticize Google and Facebook’s annual lobbying costs, those for NAR and NAHB are within the same

Bankrate’s 2011 Closing Costs Survey Finds Texas has Second Highest Closing Costs

Bankrate’s 2011 Closing Costs Survey demonstrated that while home prices are tumbling, closing costs are still on the rise in most states–with an increase of 8.8 percent nationwide, compared to 2010. Nationwide, the average closing cost is now $4,070

Nationwide Home Sales Fall 0.8 Percent in June- Houston Holds Strong

Today, NAR reported that home sales dropped 0.8 percent, to 4.77 million, this June–8.8 percent below June 2010’s sale of 5.23 million

Bank of America Reports loss of $8.8 Billion

In the second quarter, Bank of America posted a $8.8 billion loss, following the $8.5 billion settlement with investors regarding troubled mortgage-backed

Index Rises from 13 in June to 15 in July

July brings a modest increase in homebuilder confidence, with the National Association of Home Builders/Wells Fargo sentiment index increasing to 15 (from 13 in June), according to Bloomberg

Next Boom Towns in the U.S.-Texas Expected to Dominate

The top boom town in the U.S. is expected to be Austin, Texas , according to recently released data from New Geography. Houston doesn’t fall far behind, earning a fifth place nomination, and San Antonio came in fourth, making

Highest-Priced Home in U.S. Sells for $85 Million

Once regarded as the highest-priced home in the U.S. with a price tag of $150 million, the former Los Angeles County home of Candy Spelling has sold for a drastically reduced price of $85 million (43 percent less) after

Mortgage Rates Fall This Week: 30-year FRM Drops to 4.51 Percent

The 30-year fixed-rate mortgage (FRM) is down to 4.51 percent (with an average 0.7 point) this week and 15-year rates dropped to 3.65 percent (with an average 0.6 point), according to MarketWatch. While neither drop is incredibly drastic, it

Post-Bubble Homebuyers Tend to Overprice Homes

Zillow found that home sellers who bought their home after 2007’s housing bubble burst have a tendency to overprice their home by 14.1 percent more than those who bought a home during or before the bubble, said Agent

Canadian Luxury Sale Agent Disappearance Case Nearing Closure Months Later

Many are familiar with the case of the recent murder of Ashley Okland, the Des Moines, Iowa Realtor who was shot and killed at the open house she was showing. While the case (now active for three months) has

Construction Sector Proves Indestructable While Economy Requires Some Renovation

The job market for construction seems to be recovering; even as the entire economy experienced a 10 percent increase in layoffs, from May to June – to the highest level since August 2010 – construction hires and openings proved

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