May 24th, 2012, 3:48 pm · · posted by Jon Lansner Veteran Southern California real estate analyst G.U. Krueger adds his commentary on the housing market to this blog in a spot we call “Thursday Morning Quarterback.” Here’s his latest installment. … ARCHIVE Every other day, it seems a new home price index is coming out — saying this or that about its superiority over others. No matter the math, what’s being released seems to point towards healing in the nation’s home prices. At least, for now. It is fascinating that this picture emerges through the smorgasbord of competing price-tracking methodologies. Apparently, when the market turns, methodological differences tend to take a back seat. Two recently published home-price indices show more improvement. Modest gains, to ... Continue reading →
Published: May 24, 2012 Updated: 2:20 p.m. Continue reading →
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May 24th, 2012, 8:23 am · · posted by Jon Lansner What’s happening with mortgage rates? We’ve asked Jeff Lazerson, of Mortgage Grader in Laguna Niguel, to give us his weekly take … So, Jeff … RATE NEWS SUMMARY: From Freddie Mac’s weekly survey, for a fourth week in a row, the average 30-year fixed rate hit a new all-time record low of 3.78 percent and .8 point. Last week the 30-year fixed was at 3.79 and .7 point. The 15-year fixed remained unchanged, averaging 3.04 percent for the second week in a row. The 5-year ARM did not move either, holding steady for 2 weeks in a row at 2.83 percent and .6 point. APPLICATION NEWS SUMMARY: Mortgage Bankers Association weekly survey indicates loan ... Continue reading →
Fitch Ratings says the bottom for U.S. home prices by the end of 2013. "The economy continues to grow with economic indicators on a positive trajectory and pointing to a recovery. But struggles remain. High unemployment, a declining labor force, stagnant wages, and a large delinquent inventory across many parts of the country are slowing the recovery's momentum," Fitch wrote. Fitch expects home prices – after inflation – to drop another 7.8% -- a smaller forecasted decline that 9.1% projected three months ago. Them Fitch sees a "slow recovery." By state, Fitch sees widely varied performances ahead – but 12 state housing markets were seen as "undervalued" and 14 with pricing at "sustainable" levels. CLICK HERE FOR THE 12 'UNDERVAUED' STATES Continue reading →
May 24th, 2012, 1:00 am · · posted by Jeff Collins Real estate news and views from around the globe that make you go, “Really?” You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed. Continue reading →
May 23rd, 2012, 12:39 pm · · posted by Jon Lansner We’re starting to see some evidence that a springtime rush of house hunting is pushing prices higher. According to the National Association of Realtors, the U.S. median selling price for all housing types jumped 10.1 percent in a year to $177,400 in April. The March price showed an upwardly revised 3.1 percent annual improvement. NAR economist Lawrence Yun: “This is the first time we’ve had back-to-back price increases from a year earlier since June and July of 2010 when the gains were less than one percent. For the year we’re looking for a modest overall price gain of 1.0 to 2.0 percent, with stronger improvement in 2013.” Single-family home sales rose to a seasonally ... Continue reading →
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May 23rd, 2012, 8:22 am · · posted by Jon Lansner An Orange County house once again costs triple what an typical American homebuyers pays. Click to enlarge! I’ve long tracked a curious ratio: What local homes are selling at, using National Association of Realtor data, compared to the overall U.S. median price. My “Orange Premium” tracks what we pay extra to live here. Using this Realtors home-price data, we see Orange County’s latest median of $484,860 compares to $158,100 nationwide. So, one could buy one median-priced Orange County single-family house or 3.07 houses at the national median in the last quarter. The Orange Premium had dipped below triple — well, 2.99 — in the previous quarter for the first time in five quarters. It’s ... Continue reading →
BERLIN (AP) -- The German government has moved to oversee more closely the country's move from nuclear power to renewable energy - a mammoth 10-year project for Europe's biggest economy. Chancellor Angela Merkel said Wednesday she will meet all of Germany's 16 state governors twice a year to take stock of the transformation's progress and shortcomings. Critics have faulted the government for a lack of coordination. Merkel said everything must be done to ensure affordable energy will always be available. Germany decided to speed up shutting down its nuclear reactors following Japan's Fukushima nuclear disaster last year. Wind, solar and other renewable energy sources currently account for some 20 percent of the country's electricity production and are set to produce a third of it within ... Continue reading →
