January 2013

Found 5 blog entries for January 2013.

 WASHINGTON – Jan. 23, 2013 – Home sales are set to keep marching upward this year after hitting their highest level in five years in 2012, economists say.

Existing-home sales for the full year rose 9.2 percent from 2011, according to preliminary data, the National Association of Realtors (NAR) reported Tuesday.

New home sales, which will be reported Friday, have also been improving.

Housing is finally contributing to the economy’s growth instead of pulling it down, Moody’s Analytics chief economist Mark Zandi says.

He expects housing to contribute a fifth of the economy’s growth this year. In 2009, it subtracted more than 1 percentage point from GDP growth, he says.

Housing has historically led the U.S. economy out of recessions.

Now that housing…
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Awesome News!    Home construction in 2012 highest in 4 years   WASHINGTON (AP) – Jan. 17, 2013 – U.S. builders started work on homes in December at the fastest pace since the summer of 2008 and finished 2012 as their best year for residential construction since the early stages of the housing crisis.

The Commerce Department said Thursday that builders broke ground on houses and apartments at a seasonally adjusted annual rate of 954,000. That’s 12.1 percent higher than November’s annual rate and nearly double the recession low reached in April 2009.

For the year, builders started work on 780,000 homes. That’s still roughly half of the annual number of starts consistent with healthier markets. But it is an increase of 28.1 percent from 2011. And it…
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 ORLANDO, Fla. – Jan. 16, 2013 – To sell a home or get top dollar, sellers must look at their property through the eyes of a potential buyer. Consider the following five tips:

1. Get rid of clutter and Aunt Mary’s photo.

“Selling your house is about taking your personality out of it and having people going through it envisioning their own life and personality,” says Candice Olson, host of “Candice Tells All” on Canadian television station “W Network.”

It’s hard for buyers to imagine themselves in a home decorated wall-to-wall with photographs of people they do not know, and knick-knacks that hold no special meaning. In preparing a home for sale, all the things that personalize a home to the family within should be stored for the next home – including all the…
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JACKSONVILLE, Fla. – Jan. 16, 2013 – The November Mortgage Monitor report released by Jacksonville-based Lender Processing Services (LPS) finds that the national foreclosure inventory dropped to 3.51 percent in November – an almost 10 percent decline from September 2012, when National Mortgage Settlement requirements began to influence the pace of first-time foreclosure starts.

However, LPS expects foreclosure starts to rebound as mortgage servicers incorporate new procedural requirements into their operations in the coming months.

According to LPS Applied Analytics Senior Vice President Herb Blecher, borrowers are benefiting from today’s historically low interest rates. “Comparing interest rates on new versus paid-off loans, we see that interest

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According to a report by California-based ZipRealty, Palm Beach County's median home sales price in December was $169,000, up 35 percent from the same time the previous year.  The report used data from the Multiple Listing Service (MLS) and included single-family homes, townhomes and condominiums.  The 35 percent increase levels have not been seen since 2002 or 2003.  

Price increases are being driven by a demand for homes from both investors and traditional homebuyers hoping to make a purchase when prices and interest rates are still low.  Price increases measured in November by the Realtors Association of the Palm Beaches ranged from 7.7 percent in Palm Beach Gardens to a whopping 73 percent in Royal Palm Beach.  This is all very exciting news!


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