The New York Times recently published an editorial entitled, “Homeownership and Wealth Creation.” The housing market has made a strong recovery, not only in sales and prices, but also in the confidence of consumers and experts as an investment. The article explains: “Homeownership long has been central to Americans’ ability to amass wealth; even with the substantial decline in wealth after...
Below are the headlines from three separate news releases issued over a one month period: 11/3/2014 - Millions of Potential New Households Waiting Out the Recovery 11/11/2014 - Experts: First-Time Homebuyers' Weak Finances Holding Back Housing Market And then, the contrarian view: 12/2/2014 - In 2015, Millennials Will Be Biggest Home Buying Group It sure seems that the group that...
Yesterday, HousingWire reported that both Fannie Mae and Freddie Mac formally announced their 3% down options on home purchases. Fannie Mae’s plan will be effective December 13, 2014 while the Freddie Mac plan will be available March 23, 2015. The HW article quotes FHFA Director Mel Watt: “The new lending guidelines released today by Fannie Mae and Freddie Mac will enable creditworthy...
The Mortgage Bankers Association, the National Association of Realtors, Fannie Mae and Freddie Mac are each projecting mortgage interest rates to increase substantially over the next twelve months. What will that mean to the housing market in 2015? Last week, we posted a graph showing that home prices appreciated each of the last four times mortgage interest rates dramatically increased. Today,...
CNBC’s Diana Olick recently reported that rents in the residential housing sector continued to rise in 2014. She interviewed Jed Kolko, Chief Economist at Trulia, who revealed: "Rents are rising because of strong demand that supply hasn't kept up with. Nearly all the new households are renters, and young people moving out of their parents' homes will keep fueling rental demand." Where are rents...
// Post by Tony Meier - EastsideHomes.com - Seattle's Eastside Real Estate...
Here are the latest market charts from the MLS. Click on each image below for a larger version. Active Listings vs. Sold Listings Number of Pending Listings Median Sales Price For more information our the Seattle and Eastside Real Estate Market contact Tony Meier...
KIRKLAND, Washington (Dec. 4, 2014) - Buyer interest remains high and many good values exist for those whose holiday wish list includes a new home, according to brokers with Northwest Multiple Listing Service. A new report from the MLS summarizing November activity shows year-over-year gains in pending sales, closed sales and median prices. The report encompasses 21 counties, mostly in Western...
As we finish 2014, it appears the real estate market is once again on solid footing and ready to advance forward over the next few years. The strength of the market can be viewed using two metrics: projected home values and projected house sales. We recently reported that the Home Price Expectation Survey revealed future home values will continue to appreciate nicely. Today we want to look at...
When we needed to buy a house, you were our only choice. We are a repeat customer, since you sold our house in Redmond in 2010. There is nothing you could have done to improve your service level. You are perfect. Availability - You were always available, even with our crazy schedules, your extreme popularity and the extraordinary volume of houses we wanted to see. Knowledge - You had the excellent...
In a recent video update on the housing market, Frank Nothaft, Freddie Mac’s chief economist, stated that with both mortgage interest rates and home prices projected to increase in 2015 buying now makes sense. “If you are planning to buy a home in the next year, it’s better to do it sooner rather than later.” Here are the latest mortgage interest rate projections from four major housing...
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