The average US rate on a fixed mortgages decreased this past week to the lowest levels since long-term mortgages began in the 1950s. This decrease in the average fixed interest rate will give prospective buyers more incentive to purchase property in the housing market. According to mortgage buyer Freddie Mac, "the average rate on the 30-year loan fell to 3.56 percent... That’s … Keep reading... about 30-Year Mortgage Rates Continue to Drop

The positive trend that has been experienced in Florida for much of 2012 continued in July. According to data released by Florida Realtors, "pending sales, closed sales and median prices rose, while the inventory of homes and condos for sale dropped" last month. The housing market, which has been rebounding significantly in Florida over the past year, continues to show signs … Keep reading... about Florida Housing Market Continues on Positive Track

The number of pending home sales bounced back in May, according to the National Association of Realtors (NAR). The levels reached in May were significantly higher than the prior year and the highest level in the past two years. According to Florida Realtors, NAR's Pending Sale Home Sales Index, "a forward-looking indicator based on contract signings, rose 5.9 percent to 101.1 … Keep reading... about Pending Sales Reach Two-Year High

CoreLogic released its monthly report last week, revealing that the inventory of unsold homes is at the lowest point in five years. The reason? Negative equity, which is proving to be a driving force in the real estate market. Homeowners who owe more on their mortgage than the current value of the home are deciding to hold onto property and not sell now. The result of this has … Keep reading... about Unsold Homes Inventory at Lowest Point in 5 Years

Tracking "lowball offers" is something that can really demonstrate how the real estate market is performing. In a market where prices hit all time lows and buyers were finding "steals," lowball offers had become fairly common. However, as the market has begun to shift in the right direction, the number of these lowball offers seems to be dwindling. To better understand, we must … Keep reading... about Why Lowball Offers Will No Longer Work

When CoreLogic released its April Home Price Index (HPI) earlier this week, there were many encouraging signs that the housing market is recovering better than originally predicted. Home prices and the number of distressed sales increased nationwide by 1.1% in April 2012 (compared to 2011). This marked the second year-over-year increase in 2012 and the first time two … Keep reading... about Home Prices Rise for Second Month

The first quarter of 2012 was a milestone for housing affordability, according to the National Association of Realtors (NAR). The Housing Affordability Index, which "provides a quick look at affordability and is calculated by the relationship between median home price, median family income and average mortgage interest rate" rose to 205.9 in quarter one of 2012 (National … Keep reading... about First Quarter Review: Housing Affordability

There are half a dozen markets in Florida that are positively trending, according to the National Association of Home Builders (NAHB). Two of these markets are located on Southwest Florida's Gulf Coast: Punta Gorda and North Port. The NAHB has an Improving Market Index that analyzes Metropolitan Statistical Areas that have shown improvement from their "market bottoms with … Keep reading... about Improving Markets: North Port and Punta Gorda

Since 2006, the average US home price has declined by nearly 33%. These downward trends have contributed to panicked owners selling too quickly and an increase in available homes on the market. According to market watcher, Fiserv, home prices in the US will rise at 4% per year for the next five years. Fiserv sees market prices stabilizing by the end of summer and then climbing … Keep reading... about Forecast Predicts Annual 4% Rise in Home Prices

A review of the nationwide housing market indicates that, for the most part, the majority of areas in the United States are seeing a recovery for residential real estate. It is important to keep in mind that ALL real estate is “local” and there are areas of the country where recovery has yet to take hold. According to Steve Berkowitz, chief executive officer for Realtor.com, … Keep reading... about Broad Based Housing Recovery