Case illustrates potential peril to real estate agents By Inman News, Thursday, May 2, 2013. Ron Bailey can just picture it: He’s showing a rental listing to some prospects when suddenly, a person he’s never met thunders, “Are you Ron Bailey?”.
There is optimism regarding the housing market and now a majority of American’s feel more positive according to survey results from Gallup. As part of the “New American Consumer” series investigating housing and homeownership, Gallup polled more than 2,000 Americans.
The 2013 national bank failure tally rose to eight this weekend after three more institutions collapsed. FDIC announced the collapses of Chipola Community Bank in Marianna, Florida; Heritage Bank of North Florida in Orange Park; and First Federal Bank in.
A recent survey of over 2,000 by Gallup shows that 62 percent say they own their primary residence, 34 percent are renting, and the remainder have other arrangements. More than half of Americans, at 56 percent, own and plan to.
Although there was a monthly uptick in foreclosure starts, first quarter foreclosure activity is at a six-year low. Data from RealtyTrac showed 442,117 properties received some sort of foreclosure filing- default notices, scheduled auctions, and bank repossessions- in Q1. This.
The Federal Housing Finance Agency (FHFA) has extended the Home Affordable Refinance Program (HARP) a two-year extension. The program, under the direction of FHFA, Freddie Mac, and Fannie Mae, will continue until December 31, 2015. The program was previously set.
Sperling’s Best Places, a research firm specializing in livability rankings, have released a list of cities with the most and least stress. The study analyzed a variety of factors associated with stress including suicide, divorce, crime, joblessness, and lengthy commuting..
According to the DataQuick’s February Property Intelligence Report (PIR), although prices are improving and foreclosures are declining there is still room for economic uncertainty to “dampen” housing activity. DataQuick’s PIR is a monthly report assessing the nations largest 42 counties.
Last month there was an increase in consumer confidence, suggesting that consumers may not be too concerned about the pending impacts of fiscal policy. However, Fannie Mae predicts that consumers will feel some financial tightening over the next few months.
Lower rental yields may cause investors to lose interest in the housing market but Capital Economics says this scenario is unlikely to happen this year. The increase in home prices currently is outpacing the rise in rent which “is weighing.