January 20, 2014 by Managing The Real Estate Details

New Loan Requirements for Getting a Mortgage

The number of homes purchased with a home loan has been dropping steadily since May, according to RealtyTrac. Instead, cash is king for many reasons. As mortgage rates began creeping up, some home buyers started opting to purchase with all cash. And that trend may continue as new loan requirements become more strict.

However, for those buyers who do need to purchase a home with a loan, expect to see some changes in the loan requirements as the new year rings in. Here are a just a few of the changes that are going into effect in January 2014. Some of these requirements are already in place by lenders.

Image January 19, 2014 by Managing The Real Estate Details

Go Hawks!

January 18, 2014 by Managing The Real Estate Details

Huge Year For Top 20 Master-Planned Communities

The top 20 master-planned communities in the country sold 15,338 homes in 2013, which is an 11% increase over 2012. With 9 communities, Texas dominated the list. Florida had 4, Nevada had 3, and California had 2. Colorado and the DC area round out the list.

Only 5 new communities joined the list, and 9 of the top 20 remained the same as last year, which is a reflection of how few new master-planned communities have started recently. Our consultants know this will change, however, as we consulted on dozens of planned new communities in 2013.

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January 17, 2014 by Managing The Real Estate Details

3 Simple Steps Can Help Agents Win Repeat Business

What can you do to create more repeat and referral business in 2014? Peter Knight, managing director of the U.K.’s Property Academy, had some great answers at the National Association of Realtors’ convention in San Francisco.

Knight’s session highlighted a major theme that was present throughout a number of last year’s sessions at NAR: “people, not property.” Knight’s “people first” approach not only turns the traditional sales funnel upside down, but it skewers a number of real estate’s sacred cows as well.

Read his recommendations…

January 16, 2014 by Managing The Real Estate Details

Housing Recovery Sparks Pickup in Home Seizures

Though the housing market continues its halting recovery, thousands of homeowners are still struggling in the aftermath of the worst financial collapse since the Great Depression. Even as the overall foreclosure level has retreated to pre-2006 levels, the average length of cases already in the pipeline has increased.

But that may be changing.

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January 15, 2014 by Managing The Real Estate Details

Can Selling Real Estate Make You Rich?

Many will find that while breaking into real estate may be easy, getting established is tough. Landing those million-dollar listings means succeeding against all odds.

Only 2% of Realtors, a trademarked term used by the National Association of Realtors to which the majority of real-estate agents belong, earn more than $250,000 a year. The median annual income nationwide was $43,500 in 2012, up from $34,900 in 2011.

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January 14, 2014 by Managing The Real Estate Details

Job Growth to Drive 2014 Housing Market

The housing recovery is expected to remain strong in the new year, driven by economic growth and an improving employment picture, economists say.

In fact, job growth likely will be one key to driving housing growth in the new year. An estimated 2 million or more jobs will be created in 2014, predicts Lawrence Yun, National Association of REALTORS(R)’ chief economist.

As employment picks up, greater demand for housing is expected to occur and a surge in homebuilding activity. Celia Chen, housing economist at Moody’s Analytic, predicts a “homebuilding boom” in 2014 that will spark even more jobs — from construction workers to manufacturers — and bring about greater demand for housing overall.

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January 13, 2014 by Managing The Real Estate Details

Top 10 Housing Bets for Investors

Investments in single-family homes for rental properties will remain an attractive venture in many markets in the new year, says Ingo Winzer, president of Local Market Monitor. Winzer notes that Texas and Oklahoma offer some of the best bets “with their low unemployment rates and ability to profit for years from new shale oil and gas development.”

Local Market Monitor and HomeVestors, an investment company that brands itself “We buy ugly houses,” named the following top 10 housing markets for investing in single-family homes for 2014. All of these markets have posted strong appreciation in the past year but are still underpriced by up to 28 percent.

January 11, 2014 by Managing The Real Estate Details

As Home Prices Rebound, Lenders Rush to Unload REOs

The recovery in home prices this year is prompting banks to sell off their REO inventory at a brisker pace. Sales of bank-owned homes made up 10 percent of residential sales in November, the third consecutive month for increases in REO sales, RealtyTrac reports.

“Lenders are taking advantage of this environment to unload more of their bank-owned inventory and in-foreclosure inventory at the foreclosure auction,” says RealtyTrac’s Daren Blomquist. “But as the backlog of distressed inventory available dries up in many of the markets with the most efficient foreclosure processes — namely California, Arizona, and Nevada, with Georgia not far behind — overall sales volume is declining and will continue to do so until more nondistressed sellers enter the market.”

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