Three different data reports released this morning appeared to give the cumulative effect of a housing market that is aggressively seesawing to extremes: Rates hitting a new low, existing-home sales hitting a new high and rising fears that housing affordability might become an ephemeral commodity.Click to continue
The acclaimed writer and futurist Alvin Toffler once remarked, “You can use all the quantitative data you can get, but you still have to distrust it and use your own intelligence and judgment.”
Of course, Toffler was not talking about surplus amount of data relating to the housing industry and the mortgage market. However, the excess quantity of data servings sometimes creates a contradictory picture, creating both confusion and bemusement across the industry.Click to continue
For most of this year, the level of mortgage applications made no great progress upwards. But one strategy for bumping up applications—and, by extension, stabilizing the housing market—could involve the expansion of homeownership among the nation’s minority communities.Click to continue
A pair of new reports issued today—Freddie Mac’s Primary Mortgage Market Survey (PMMS) and Zillow’s first quarter overview on all-cash purchases—offered a view that might suggest housing is showing evidence of stabilizing, even if the economy is still wobbling about. According to Freddie Mac, the 30-year fixed-rate mortgage (FRM) averaged 4.17 percent with an average 0.6 point for the week ending June 19, down from last week when it averaged 4.20 percent. A year ago at this time, the 30-year FRM averaged 3.93 percent.Click to continue
Are you tired of relying on real estate agent referrals for your livelihood? It doesn't have to be that way. It shouldn't be that way … there are other ways. In fact, my entire business was built without ever soliciting an agent. You can do the same.
Donuts and coffee
We are told that the key to mortgage success is simple; get the most agents. Grab the donuts, the coffee and pound the pavement kid.Click to continue
In half of U.S. metros, buying a home is a better financial decision than renting for homebuyers who plan to stay in their home for at least two years, according to the first quarter Zillow breakeven horizon analysis.Click to continue
Zillow recently took a look at a few major metropolitan markets to highlight some areas that, should mortgage rates reach highs of six percent as many have predicted for 2014, many U.S. area would be essentially unaffordable to live in. Some individuals have highlighted that skyrocketing fees would lead to a more organic pricing structure in terms of homes, however; many others argue that Zillow’s estimates are correct, that certain neighborhoods would be unavoidably high.
On the list of neighborhoods facing devastation at the hands of increasing mortgage rates:Click to continue
Zillow Chief Economist Dr. Stan Humphries sat down with Barry Zigas, director of housing policy for the Consumer Federation of America and a commissioner on the Bipartisan Policy Center (BPC) Housing Commission, to discuss the BPC's plan for housing finance reform. A video of this discussion, entitled "Zillow Presents: Discussing Housing Finance Reform Options with Barry Zigas of the Bipartisan Policy Center Housing Commission, Facilitated by Zillow Chief Economist Dr. Stan Humphries," is now available on the Zillow Blog.Click to continue
Zillow Inc. has announced the launch of a new interface enhanced for iOS 7 and redesigned home shopping features for the Zillow Real Estate Apps for iPhone, iPad and iPod touch. The new Zillow Real Estate Apps bring simplicity to the time-consuming and complex process of finding the right home, taking advantage of iOS 7's design principles. In August alone, home shoppers spent over nine million hours on Zillow's mobile applications, viewing more than 320 million homes.Click to continue
More than half (52 percent) of homeowners plan to make a home improvement or addition this fall, according to the Zillow Digs Fall Home Improvement Trend and Spending Survey, compared with 60 percent in the summer; homeowners plan to spend $1,000, which is $200 less than during the summer. While the percentage of homeowners planning remodels for nearly every room fell from the summer survey, homeowners will continue to focus on home office or playroom remodels in the fall.Click to continue