Millennials can only afford 135 square feet of housing in San Francisco: San Francisco is infamous for being overly competitive and obscenely expensive, and the reality of how expensive it is for Millennials just sunk in thanks to a new report. http://www.housingwire.com/articles/35936-millennials-can-only-afford-135-square-feet-of-housing-in-san-francisco ❤️ #share #mortgage
Goldman Sachs: Will homebuilding remain the fastest-growing sector?: Will homebuilding remain the fastest-growing sector? Will growth stay above trend? Will the consumer stay strong? Will the FOMC deliver more than two hikes in 2016? You asked, Goldman Sachs answers. http://www.housingwire.com/articles/35935-goldman-sachs-will-homebuilding-remain-the-fastest-growing-sector ❤️ #share #mortgage
Wall Street Journal op-ed ethers ‘toxic twins’ Fannie Mae, Freddie Mac: For the second time in the last ten days, the editorial section of a major national newspaper has taken on the future of Fannie Mae and Freddie Mac. The Washington Post recently weighed in on the recapitalization and release of Fannie and Freddie, calling it a “recipe for housing disaster.” But that’s nothing compared to the editorial that showed up in the Wall Street Journal. http://www.housingwire.com/articles/35934-wall-street-journal-op-ed-ethers-toxic-twins-fannie-mae-freddie-mac ❤️ #share #mortgage
Tour the farmhouse of the stars of HGTV’s Fixer Upper: They’re America’s favorite HGTV duo and the team everyone wishes they could have their home redesigned by. So what does the home of the renowned design duo look like then? An article in House Beautiful gave a full tour of the home, and it’s everything you would expect and more. http://www.housingwire.com/articles/35933-tour-the-farmhouse-of-the-stars-of-hgtvs-fixer-upper ❤️ #share #mortgage
Jobless claims beat analyst expectations: It was a surprisingly strong week for jobless claims, with filings rising by 20,000 for the week ending Dec. 26. However, data in this report can be volatile during the holiday weeks. http://www.housingwire.com/articles/35932-jobless-claims-beat-analyst-expectations ❤️ #share #mortgage
Want to be the chair of the Federal Reserve? Here’s your chance [Quiz]: As we call count down the hours until the New Year’s Eve festivities officially begin, here’s a nice little distraction that might keep you entertained, educate you, or confirm that you are a true financial ninja. http://www.housingwire.com/blogs/1-rewired/post/35931-want-to-be-the-chair-of-the-federal-reserve-heres-your-chance-quiz ❤️ #share #mortgage
Why are there almost no new banks since the crisis?: In the aftermath of the economic crisis of the late 2000’s, the federal government passed a number of sweeping laws that irrevocably changed the financial landscape of this country, but just how much? http://www.housingwire.com/articles/35929-why-are-there-almost-no-new-banks-since-the-crisis ❤️ #share #mortgage
Here are the 6 most popular HousingWire stories of 2015: On behalf of the editorial department at HousingWire.com, thank you for another banner year. So what were the stories most of you read in 2015? For no particular reason, here are the top 6, along with a blurb to help explain more. http://www.housingwire.com/blogs/1-rewired/post/35930-here-are-the-6-most-popular-housingwire-stories-of-2015 ❤️ #share #mortgage
Freddie Mac: #mortgage rates finally break above 4%: Right as the year comes to a close, the average #mortgage rate finally surpassed the 4% threshold for the first time in five months. However, this shouldn’t come as surprise since after the Fed raised interest rates Freddie Mac said it expected an increase in #mortgage rates, which have hovered near or below 4% for much of this year. Click the headline to read more. http://www.housingwire.com/articles/35928-freddie-mac-mortgage-rates-finally-break-above-4 ❤️ #share #mortgage
Here’s To A Wonderful 2016!:
We hope 2016 is a great year for you both personally & professionally. http://www.simplifyingthemarket.com/2015/12/31/heres-to-a-wonderful-2016/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage
If you’re an adventurer, this pro skier’s tiny home wins: Tiny homes are quickly becoming a growing craze, and while they might not be for everyone, this professional skier makes it look perfect for any person who lives for the outdoors. If any part of you craves nature, this is the perfect home for you. http://www.housingwire.com/articles/35927-if-youre-an-adventurer-this-pro-skiers-tiny-home-wins ❤️ #share #mortgage
Freddie Mac: Housing posts strongest improvement in nearly a year and a half: Housing markets across the country are steadily making their way into the stable range. Most of the improvement can be attributed to #mortgage delinquencies continuing to decline at a steady pace, especially in those hardest hit markets. http://www.housingwire.com/articles/35926-freddie-mac-housing-posts-strongest-improvement-in-nearly-a-year-and-a-half ❤️ #share #mortgage
Meet the real estate agent who lands celeb clients thanks to her Air Jordans: Realtors and real estate agents have long been known to go the extra mile to land a client, and for one Los Angeles real estate agent, it’s what she wears on her feet when she’s going that extra mile that helps her land celebrities and professional athletes as her clients. http://www.housingwire.com/articles/35925-meet-the-real-estate-agent-who-lands-celeb-clients-thanks-to-her-air-jordans ❤️ #share #mortgage
CFPB pushes to expose anonymous companies that sue it: Arguing that companies that sue it should not be granted anonymity, the Consumer Financial Protection Bureau is asking a federal judge to reveal the names of several companies that are anonymously suing the agency after a lawyer representing the group was denied entry into a investigative hearing. http://www.housingwire.com/articles/35924-cfpb-pushes-to-expose-anonymous-companies-that-sue-it ❤️ #share #mortgage
Is Nationstar about to completely rebrand itself?: 2015 turned out to be a tough year for Nationstar. But does the company have big plans to turn its fortunes? It certainly looks that way. Buried deep on Nationstar’s website in a most unlikely place is a look at what the company could be planning for 2016. And it’s big…as in reshaping the company’s entire public image big. http://www.housingwire.com/blogs/1-rewired/post/35923-is-nationstar-about-to-completely-rebrand-itself ❤️ #share #mortgage
CoreLogic: Distressed home sales dip lower in October: Distressed home sales, which include real estate-owned properties and short sales, continued to trend lower October 2015. If the current year-over-year decrease in the distressed sales share continues, it will reach the “normal” mark of 2% in mid-2019. http://www.housingwire.com/articles/35922-corelogic-distressed-home-sales-dip-lower-in-october ❤️ #share #mortgage
Man at center of Peyton Manning HGH scandal is an alleged real estate fraudster: In case you’ve been living under a rock, or don’t care about such things, the biggest scandal in the sports world right now is whether Denver Broncos quarterback Peyton Manning used human growth hormone (also called HGH) when he was rehabbing from a neck injury in 2011. Now, more about the past of Liam Collins, the man at the center of the scandal, is also coming to light, including reports of Collins getting into some legal trouble in England for real estate fraud. http://www.housingwire.com/articles/35921-man-at-center-of-peyton-manning-hgh-scandal-is-an-alleged-real-estate-fraudster ❤️ #share #mortgage
Beverly Carter’s accused murderer changes plea, wants evidence tossed: As the pre-trial portion of the prosecution of Arron Lewis, the man who stands accused of abducting and killing Arkansas Realtor Beverly Carter in 2014, comes closer to ending, Lewis and his attorney are pushing to have several pieces of evidence tossed out. Lewis also recently changed his plea. http://www.housingwire.com/articles/35920-beverly-carters-accused-murderer-changes-plea-wants-evidence-tossed ❤️ #share #mortgage
Appraisal Institute names 2016 president: In light of the New Year, the Appraisal Institute named its newest president. Scott Robinson, of Salisbury, North Carolina, will begin his one-year term on Jan. 1. http://www.housingwire.com/articles/35919-appraisal-institute-names-2016-president ❤️ #share #mortgage
Pending home sales struggle to overcome housing headwinds: Pending home sales once again struggled to overcome housing headwinds and slightly declined for the third time in four months. And according to the National Association of Realtors’ chief economist, the struggles will continue when spring buying season begins. http://www.housingwire.com/articles/35918-pending-home-sales-struggle-to-overcome-housing-headwinds ❤️ #share #mortgage
American Dream of Homeownership Still Very Much Alive:
In a recent post, Trulia examined whether homeownership was again being seen by adults in the US as a “part of their personal American Dream.” Over the last five years:
* The percentage of U.S. adults who believe homeownership is part of their American Dream increased from 70% to 75%
* The percentage of 18-34 Year-olds who believe homeownership is part of their American Dream increased from 65% to 80%
Here is a graph of the survey over the last five years:
Bottom Line
As the housing industry recovers from the crisis of 2008-2010, Americans belief in homeownership as part of their own personal American Dream has also made a strong comeback. http://www.simplifyingthemarket.com/2015/12/30/american-dream-of-homeownership-still-very-much-alive/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage
Across a bridge over a bubbling creek, the 5-bedroom, 4-bath Tudor estate features a terraced yard including a pool, large alfresco dining area, and lush landscaping fit for Oliver Queen, the billionaire-turned-superhero Amell plays in the television series “Arrow” and “The Flash.”
The home offers numerous lounging and eating areas for Amell and his wife, actress Cassandra Jean, as well as romping space indoors and out for their two-year-old daugher, Mavi.
A chef’s kitchen with a walk-in pantry connects the family and dining rooms, and the spacious master suite boasts a sitting area and exposed beams, plus a clawfoot bathtub and steam shower.
The home includes a pub with stairs leading to a two-bedroom guest wing.
The listing agent was Jason Reitz of Rock Realty Group.
Related:
CFPB to relax TRID enforcement actions: After a recent letter to the Consumer Financial Protection Bureau, the #mortgage Bankers Association released a response from CFPB Director Richard Cordray that should bring some much-needed clarity to the industry on the current expectations for #lenders in implementing the new TILA-RESPA Integrated Disclose rule. Click headline to read more. http://www.housingwire.com/articles/35916-cfpb-to-relax-trid-enforcement-actions ❤️ #share #mortgage
Can’t afford your home anymore? Do this: So the British Broadcasting Corp has a website called BBC Capital. Despite the lofty name, it’s mainly dedicated to personal finances. But does the advice stack up? Judge for yourself. http://www.housingwire.com/articles/35915-cant-afford-your-home-anymore-do-this ❤️ #share #mortgage
Here are the 20 hottest housing markets to close out the year: As the year comes to a close, the residential market is going through its typical seasonal slowdown. But despite the holiday cool down, these 20 markets are still shining through as the 20 hottest markets in the nation. http://www.housingwire.com/articles/35914-here-are-the-20-hottest-housing-markets-to-close-out-the-year ❤️ #share #mortgage
Consumer confidence beats expectations in December: Consumer confidence in December beat expectations as more Americans became more optimistic about the current state of the economy and job market. http://www.housingwire.com/articles/35913-consumer-confidence-beats-expectations-in-december ❤️ #share #mortgage
Appraisal volume survives winter slowdown: Appraisal volume managed to stay afloat amid a winter slowdown, coming in slightly better than every holiday week since 2006. http://www.housingwire.com/articles/35911-appraisal-volume-survives-winter-slowdown ❤️ #share #mortgage
Industry reaction to Case-Shiller shows what to expect in 2016: The latest home price report from Case-Shiller posted much of the same, with home prices trending higher in October. Several industry experts weigh in on what they think this means for the future of housing and what upcoming first-time #homebuyers can expect. http://www.housingwire.com/articles/35909-industry-reaction-to-case-shiller-shows-what-to-expect-in-2016 ❤️ #share #mortgage
Real estate stocks set for S&P break out: According to the Wall Street Journal, after a ho-hum 2015 that saw investors crammed by market compartmentalization, the people behind the S&P 500 think they have an idea to put a little surge back into the stock market. http://www.housingwire.com/articles/35910-real-estate-stocks-set-for-sp-break-out ❤️ #share #mortgage
Case-Shiller: Home prices continue upward trend: Home prices once again trended higher on a monthly and a yearly basis. According to David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, “Generally good economic conditions continue to support gains in home prices.” http://www.housingwire.com/articles/35908-case-shiller-home-prices-continue-upward-trend ❤️ #share #mortgage
Every December, we ask Americans which celebrities they would most like to have as their neighbor, and which ones they’d hate to have next door. Here’s who respondents would be happy to call neighbor in 2016, and who they would have hated to live beside in 2015.
The kitchen in Taylor Swift’s Tribeca loft offers plenty of room to gather her squad.
On top of numerous other accomplishments this year, pop sensation Taylor Swift can now add Most Desirable Celebrity Neighbor to her growing awards list.
Swift was the top choice for a neighbor in 2016, earning 12 percent of votes. The pop star was especially favored among millennials, receiving 17 percent of their votes.
“2015 was a landmark year for Taylor Swift, from her highly successful 1989 World Tour, to being named the youngest female ever on Forbes’ 100 Most Powerful Women list, so it’s no surprise America picked the down-to-earth singer-songwriter as 2016’s most desirable neighbor,” says Jeremy Wacksman, Zillow chief marketing officer.
When she’s not touring or hanging out with glamorous friends around the world, Swift hangs her hat in the 7-bedroom, 5.5-bath Tribeca loft she purchased for nearly $20 million in October 2014.
Blockbuster star Jennifer Lawrence and comedian Amy Schumer rounded out the top three positions, earning 11 percent and nine percent of the votes, respectively. All three women were equally as popular among male and female voters.
Trump reportedly never lived in the NYC apartment he sold for $14M under his initial ask.
Outspoken Republican candidate Donald Trump tops this year’s list for worst neighbor, moving up three positions from his fourth-place finish in 2014. One in four voters (24 percent) say Trump is the worst neighbor of 2015 - nearly five times more than last year (five percent of votes).
Trump was especially disliked by females (27 percent) and millennials (33 percent) polled.
“Donald Trump is frequently in the limelight for his polarizing comments and non-apologetic attitude, which some may see as unattractive qualities in a neighbor,” says Wacksman.
In July 2015, Trump sold a nearly 6,200-square-foot apartment in the Trump Park Avenue tower for $21 million - significantly less than his original $35-million asking price.
Kim Kardashian and Kayne West came in second with 22 percent of the votes, narrowly defeating last year’s worst neighbor, Justin Bieber, who ranked third this year. Democratic presidential candidate Hillary Clinton finished fourth with 11 percent of the votes.
Which celebrities would most or least like to have next door?
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Thinking of Selling Your Home? Get Ready to Negotiate!:
Now that the market has showed signs of recovery, some sellers may be tempted to try and sell their home on their own (FSBO) without using the services of a real estate professional.
Real estate agents are trained and experienced in negotiation. In most cases, the seller is not. The seller must realize their ability to negotiate will determine whether they can get the best deal for themselves and their family.
Here is a list of some of the people with whom the seller must be prepared to negotiate if they decide to FSBO:
* The buyer who wants the best deal possible
* The buyer’s agent who solely represents the best interest of the buyer
* The buyer’s attorney (in some parts of the country)
* The home inspection companies, which work for the buyer and will almost always find some problems with the house.
* The termite company if there are challenges
* The buyer’s #lender if the structure of the #mortgage requires the sellers’ participation
* The appraiser if there is a question of value
* The title company if there are challenges with certificates of occupancy (CO) or other permits
* The town or municipality if you need to get the COs permits mentioned above
* The buyer’s buyer in case there are challenges on the house your buyer is selling
* Your bank in the case of a short sale
Bottom Line
The percentage of sellers who have hired a real estate agent to sell their home has increased steadily over the last 20 years. Let’s get together and discuss all we can do to make the process easier for you. http://www.simplifyingthemarket.com/2015/12/29/thinking-of-selling-your-home-get-ready-to-negotiate/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage
Single female #homebuyers making a comeback: Ever since the financial crisis, the amount of single female #homebuyers has significantly slumped due to #lenders making it more difficult to qualify for a #mortgage. But now thanks to two new factors females should finally be able to jump back in. http://www.housingwire.com/articles/35907-single-female-homebuyers-to-make-a-comeback ❤️ #share #mortgage
Here are the best and worst rental markets for Millennials: Despite it making more financial sense to buy than rent in many markets, many Millennials are choosing to rent. But where does it make sense to rent? A new report from RealtyTrac shows the best and worst rental markets for Millennials. http://www.housingwire.com/articles/35906-here-are-the-best-and-worst-rental-markets-for-millennials ❤️ #share #mortgage
Is living with your parents now a cultural norm?: When Millennials decide to return home to save money to help pay of their massive pile of student debt, it’s usually under the assumption that they will move out once they get a secure job. However, according to an article in TIME, this may not be the case anymore. http://www.housingwire.com/articles/35905-is-living-with-your-parents-now-a-cultural-norm ❤️ #share #mortgage
Buying still more affordable than renting for most of country: Rapidly rising rents are ensuring that it makes more sense to buy in much of the country, a new report from RealtyTrac showed. http://www.housingwire.com/articles/35904-buying-still-more-affordable-than-renting-for-most-of-country ❤️ #share #mortgage
Looking for work-life balance? Check out these companies: Looking for a great place to work in the industry? Or want to find out what your competition is offering? These companies are going above and beyond to ensure employee satisfaction. http://www.housingwire.com/blogs/1-rewired/post/35903-looking-for-work-life-balance-check-out-these-companies ❤️ #share #mortgage
What Fed rate hike? Interest rates hold steady for 2nd straight week: Despite some declarations that the Federal Open Market Committee’s recent decision to raise the federal funds rate for the first time since June 2006 was a “disaster,” the FOMC’s decision is having a limited impact on #mortgage interest rates thus far. http://www.housingwire.com/articles/35902-what-fed-rate-hike-interest-rates-hold-steady-for-2nd-straight-week ❤️ #share #mortgage
Actor Tom Cruise lists UK estate for $7.4 million: Hollywood A-lister Tom Cruise is reported to have listed his home in the U.K. for $7.4 million. Cruise and his ex-wife, Katie Holmes, purchased the property in 2006 for somewhere around $4.75 million. http://www.housingwire.com/articles/35901-actor-tom-cruise-lists-uk-estate-for-74-million ❤️ #share #mortgage
2016: A look into the crystal ball for #mortgages next year: Heading into 2016, the industry will be required to go another step further in implementing technology into the #mortgage process. Here are 5 predictions for what you can expect next year and how technology will seep further into the industry. http://www.housingwire.com/articles/35900-a-look-into-the-crystal-ball-for-mortgages-next-year ❤️ #share #mortgage
2015 marks worst year for investor agility: Ideally, asset relocation allows investors to jump into another thriving market when one market struggles. However, this wasn’t the case in 2015. http://www.housingwire.com/articles/35899-marks-worst-year-for-investor-agility ❤️ #share #mortgage
Don’t Let Rising Rents Trap You!:
There are many benefits to homeownership. One of the top ones is being able to protect yourself from rising rents and lock in your housing cost for the life of your #mortgage.
Don’t Become Trapped
Jonathan Smoke, Chief Economist at realtor.com recently reported on what he calls a “Rental Affordability Crisis”. He warns that,
“Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that they’ll outpace home price appreciation in the year ahead.”
The Joint Center for Housing Studies at Harvard University recently released their 2015 Report on Rental Housing, in which they reported that 49% of rental households are cost-burdened, meaning they spend more than 30% of their income on housing. These households struggle to save for a rainy day and pay other bills, such as food and healthcare.
It’s Cheaper to Buy Than Rent
In Smoke’s article, he went on to say,
“Housing is central to the health and well-being of our country and our local communities. In addition, this (rental affordability) crisis threatens the future value of owned housing, as the burdensome level of rents will trap more aspiring owners into a vicious financial cycle in which they cannot save and build a solid credit record to eventually buy a home.”
“While more than 85% of markets have burdensome rents today, it’s perplexing that in more than 75% of the counties across the country, it is actually cheaper to buy than rent a home. So why aren’t those unhappy renters choosing to buy?”
Know Your Options
Perhaps, you have already saved enough to buy your first home. HousingWire reported that analysts at Nomura believe:
“It’s not that Millennials and other potential #homebuyers aren’t qualified in terms of their credit scores or in how much they have saved for their down payment.
It’s that they think they’re not qualified or they think that they don’t have a big enough down payment.” (emphasis added)
Many first-time #homebuyers who believe that they need a large down payment may be holding themselves back from their dream home. As we reported last week, in many areas of the country, a first-time home buyer can save for a 3% down payment in less than two years. You may have already saved enough!
Bottom Line
Don’t get caught in the trap so many renters are currently in. If you are ready and willing to buy a home, find out if you are able. Have a professional help you determine if you are eligible to get a #mortgage. http://www.simplifyingthemarket.com/2015/12/28/dont-let-rising-rents-trap-you/?a=242769-4eb2112ad1caac540e99a63dd199d5ed ❤️ #share #mortgage
