Thursday, May 22, 2014

The Experts Predict Future Home Values

Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

Results of their latest survey
  • Home values will appreciate by 4.4% in 2014.
  • The cumulative appreciation will be 19.5% by 2018.
  • That means the average annual appreciation will be 3.6% over the next 5 years.
  • Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 9.4% by 2018.
Individual opinions make headlines. We believe the survey is a fairer depiction of future values.

Friday, May 16, 2014

Foreclosures Decrease Nationally -- While NJ Breaks New Records in Reposessions

New Jersey was the only state to see an increase in loans in foreclosure on a quarter-over-quarter basis in the first 3 months of 2014. This is according to a new report from the Mortgage Bankers Association. New Jersey has fast become a focal point of the US foreclosure crisis. Eight % of New Jersey's loans are in the foreclosure process, the highest in the country. And there was no silver lining in the decline in loans that were over 90 days delinquent either — because this was driven by loans that entered the foreclosure process. Slower home price growth also tends to keep more homeowners in negative equity — when they owe more on their homes that their mortgage is worth.

RealtyTrac the nation's leading source for comprehensive housing data, yesterday released its U.S. Foreclosure Market Report for April 2014, which shows foreclosure filings - default notices, scheduled auctions and bank repossessions - were reported on 115,830 U.S. properties in April, a 1 percent decrease from the previous month and down 20 percent from April 2013.

The report also shows one in every 1,137 U.S. housing units with a foreclosure filing during the month. Despite the decrease in overall foreclosure activity, bank repossessions in April increased 4 percent from the previous month, although they were still down 14 percent from a year ago.

There were a total of 30,056 bank repossessions nationwide in April. Bank repossessions increased from the previous month in 26 states and were up from a year ago in 16 states, including New York (142 percent increase), Oregon (91 percent increase), and New Jersey (58 percent increase).

Sunday, May 04, 2014

Nothing Tacky About These Living Spaces

Nothing works better than great photography to get potential homebuyers interested in a closer look at a charmingly cozy home.

Christopher Tack is a professional photographer; Malissa Tack works in 3D animation and graphic design. They have built themselves a tiny house and put their skills to work; it's not just a house but a real demonstration of their skills as designers, builders, and last but not least, tiny home entrepreneurs. has put together a portfolio of Tack's perfectly composed and photographed examples of appealing interior spaces. They're all in "move-in" condition.