Big Predictions for Housing for Next 2 Years

DAILY REAL ESTATE NEWS | FRIDAY, MARCH 29, 2013

Home sales are projected to post some big gains in the next two years, according to Fannie Mae’s latest monthly economic outlook. 

Fannie Mae economists predict that existing-home sales will rise by 10.5 percent this year, and by 6.2 percent in 2014. The economists made even bolder projections for new single-family home sales -- growing 15.1 percent this year and 44.1 percent in 2014.

"We expect home prices to firm further amid a durable housing recovery, continuing to boost household net worth, gradually diminishing the population of underwater borrowers, and reducing incentive for strategic defaults," according to Fannie Mae’s report.

Fannie Mae projects that mortgage rates will stay low by historical averages this year, but the 30-year fixed-rate mortgage will rise from an average of 3.5 percent during the first quarter to an average of 4 percent during the final three months of 2013. During the fourth quarter of 2014, mortgage rates are projected to tick up to a 4.5 percent average. 

Mortgage applications for purchases are projected to increase by 16.8 percent this year and by 17.1 percent in 2014. However, a decline in applications for refinancings will likely cause mortgage originations to be down 14.5 percent this year and by 31.4 percent in 2014, Fannie economists predict. 

Source: “Fannie Mae sees housing upturn as 'intact',” Inman News (March 28, 2013)

Read More

An Upbeat Forecast for Housing
Freddie Has High Expectations for Spring Market

http://realtormag.realtor.org/daily-news/2013/03/29/big-predictions-for-housing-for-next-2-years

homes for sale in san tan valley az san tan valley arizona arizona homes sale home for sale in arizona real estate az real estate arizona arizona real estate san tan san tan heights homes in az for sa,homes for sale in san tan valley az,san tan valley arizona, arizona homes sale, home for sale in arizona, real estate az, real estate arizona, arizona real estate, san tan, san tan heights, homes in az for sale, az houses, queen creek az,gilbert arizona, az real estate,houses for sale, queen creek arizona, san tan valley real estate,gilbert real estate, homes for sale valley, arizona house, queen creek,valley homes sale, gilbert az,houses in Arizona for sale, where is san tan valley az, johnson ranch,Selling my home, short selling my home, FSBO, for sale by owner,how to sell my home, real-estate,chief economist, economy,business

Are First-Time Buyers Being Shut Out? What's Your Opinion?

DAILY REAL ESTATE NEWS | THURSDAY, MARCH 28, 2013

Across the country, first-time home buyers have been putting in offers on homes, but many of them keep losing out.

One working mother says she’s put in 30 offers on homes in the $100,000 range in the Atlanta area, bidding $2,500 to $3,000 above the asking price, but each time she’s been outbid. “We have to be on top of the game and be able to drop everything and check out a house or it will be gone,” says another couple in Alexandria, Va. 

Tight housing inventories are playing a role. For example, in Boston home listings are down 57 percent and in Atlanta area home listings have dropped nearly 40 percent in the past year. 

Also, “investors have been pushing home prices higher faster than expected,” Diana Olick reports for NBC. “But the higher prices get, the more investors may get out, because they won’t be able to find such great bargains any more. That in turn will let regular buyers back in, even if they do have to pay a little more to own.” 

Source: “First-time Buyers Struggle as Home Prices Rise,” NBC (March 26, 2013)

Read More

Competition Heats Up for Home Buyers

http://realtormag.realtor.org/daily-news/2013/03/28/are-first-time-buyers-being-shut-out

homes for sale in san tan valley az san tan valley arizona arizona homes sale home for sale in arizona real estate az real estate arizona arizona real estate san tan san tan heights homes in az for sa,homes for sale in san tan valley az,san tan valley arizona, arizona homes sale, home for sale in arizona, real estate az, real estate arizona, arizona real estate, san tan, san tan heights, homes in az for sale, az houses, queen creek az,gilbert arizona, az real estate,houses for sale, queen creek arizona, san tan valley real estate,gilbert real estate, homes for sale valley, arizona house, queen creek,valley homes sale, gilbert az,houses in Arizona for sale, where is san tan valley az, johnson ranch,Selling my home, short selling my home, FSBO, for sale by owner,how to sell my home, real-estate,chief economist, economy,business

Competition Heats Up for Home Buyers

DAILY REAL ESTATE NEWS | WEDNESDAY, MARCH 27, 2013

Bidding wars are brewing again in more housing markets, and buyers are finding themselves up against increased competition in snagging a home. 

California buyers reportedly are feeling some of the biggest competition in the housing market, as inventories of homes for sale have fallen at the same time that buyer demand has picked up, sparking a supply-demand conundrum. 

For example, in Sacramento, Calif., inventory of for-sale homes is less than a month; generally a balanced real estate market has about a six-month supply of houses for sale. The lack of inventory has made multiple offers on homes and fast sales more common. 

A Sacramento area couple says they received five offers in a week on their home. They say they even fielded personal letters from buyers who expressed how much they wanted to buy the couple’s house, hoping the letters would help give their offer the edge. 

“This is our fourth house,” home seller Angie Deuel says. “I’ve never experienced the market the way it is right now for a seller.” 

Another Sacramento-area seller said she’s seeing increased competition among home buyers too — with three offers on her home in three days. 

Some real estate agents are trying to lure more sellers to the market by showing them how competitive home buyers have gotten and how bidding wars are leading to houses selling above the asking price in many cases. 

Some home owners say they are deciding to sell now to take advantage of the buyer competitiveness. These sellers say they were concerned that the inventory of homes would increase, interest rates would rise, and buyers would be less competitive down the road. 

Source: “Bidding Wars Erupt in California Housing Market,” SunHerald.com (March 26, 2013)

Read More

Bidding Wars Catch Buyers Off-Guard

http://realtormag.realtor.org/daily-news/2013/03/27/competition-heats-up-for-home-buyers

arizona homes sale, arizona house,arizona real estate, az houses, az real estate, business, chief economist, economy, for sale by owner, FSBO, gilbert arizona, gilbert az, gilbert real estate, home for sale in arizona, homes for sale in san tan valley az, homes for sale in san tan valley az san tan valley arizona arizona homes sale home for sale in arizona real estate az real estate arizona arizona real estate san tan san tan heights homes in az for sa,homes for sale valley, homes in az for sale, houses for sale, houses in Arizona for sale, how to sell my home, johnson ranch, queen creek,queen creek arizona, queen creek az, real estate arizona, real estate az, real-estate, san tan, san tan heights, san tan valley arizona, san tan valley real estate, Selling my home, short selling my home, valley homes sale, where is san tan valley az

Nearly New Home w/o That New Home Price---Don't Miss This Steal!!!

1353 E. Poncho Ln. $129,900 Rancho Bella Vista's Best! This home boast of open floor plan, vaulted ceilings, large kitchen, and much more. This home sits on a corner lot. Wonderful backyard landscaping, with grass area curbed, wonderful mature trees, and shrubs, and fruit trees. Extended patio and concrete. Maple cabinets are a nice touch to the large kitchen. Huge closets through. MLS Number: 4822338 Property Type: Single Family Bedrooms: 4 Bathrooms: 2 Square Footage: 1,673/6,098 Location: Queen Creek, AZ Year Built: 2008 RE/MAX Property Shop Rebecca Kallhoff Associate 480-275-9566 (Mobile) http://www.sellingazwithrebecca.com Each Office Independently Owned and Operated ©2013 Imprev, Inc. RE/MAX Property Shop 22036 S Ellsworth Rd Queen Creek, AZ 85142

Spacious Home GREAT For ANY Family!!!

24440 N Plum Rd. Florence, AZ 85132 $164,900

Gorgeous, Spacious Home! Traditional SALE! STOP the CAR! WOW! This home will not disappoint the PICKIEST client. Tile in all the right places. Nice paint. Ceiling Fans. Lots of storage. Stainless appliances, that stay. Upgraded cabinets. Butlers bar, HUGE pantry. PLUS, a main level Mother-in-law suite or Master bedroom and bathroom suite. This home is MOVE in ready. Beautiful upgraded railing for the staircase. Upstairs laundry. The loft is spacious. Mature backyard trees and landscape. LARGE covered patio ready for your entertaining. Nice quiet area. WAIT there is more - Window coverings stay!

MLS Number: 4869987 Property Type: Single Family Bedrooms: 4 Bathrooms: 3.5 Square Footage: 3,247/8,276 Location: Crestfield Manor/Arizona Farms Year Built: 2007

RE/MAX Property Shop Rebecca Kallhoff Associate 4802759566 (Mobile) http://www.sellingazwithrebecca.com

Each Office Independently Owned and Operated ©2013 Imprev, Inc.

RE/MAX Property Shop 22036 S Ellsworth Rd Queen Creek, AZ 85142

Cute, Spacious Home!!!

6572 E. Flynn Ave. $107,500

Beautiful Florence Home! Beautiful 4 bedroom 3 bath home ready for immediate move in! Large loft upstairs perfect for game room or TV. Quick drive to Florence, San Tan Valley and Queen Creek. Located in a Golf course community. Grab this one quick, as it is priced to sell!

MLS Number: 4904040 Property Type: Single Family Bedrooms: 4 Bathrooms: 3 Square Footage: 2,220/ 6,534 Location: Oasis at Magic Ranch Year Built: 2006

RE/MAX Property Shop Rebecca Kallhoff Associate 4802759566 (Mobile) http://www.sellingazwithrebecca.com

Each Office Independently Owned and Operated ©2013 Imprev, Inc.

RE/MAX Property Shop 22036 S Ellsworth Rd Queen Creek, AZ 85142

Great Investment Opportunity

Beautiful Custom Home!!! Home You've Dreamed About w/o The Hassle of Building!!!

29094 N. Bryce Trl. 85142 $419,900 Bonanza Highlands This beautiful functional single level Spanish style home on 4+Acres is AMAZING.Open floor plan with Many upgrades is a dream come true.Kitchen boost of convection ovens, vegetable sink, with a great Spanish back splash&concrete counters.If the kitchen don't win you over,the fireplace in the family room is a great focus point. MLS Number: 4891180 Property Type: Acreage Bedrooms: 4 Bathrooms: 2.5 Square Footage: 3,146/174,676 Location: Queen Creek, AZ Year Built: 2004 RE/MAX Property Shop Rebecca Kallhoff Associate 480-275-9566 (Mobile) http://www.sellingazwithrebecca.com Each Office Independently Owned and Operated ©2013 Imprev, Inc. RE/MAX Property Shop 22036 S Ellsworth Rd Queen Creek, AZ 85142

Beautiful Home Priced To Sell!!!

6572 E. Flynn Ave. $107,500

Beautiful Florence Home! Beautiful 4 bedroom 3 bath home ready for immediate move in! Large loft upstairs perfect for game room or TV. Quick drive to Florence, San Tan Valley and Queen Creek. Located in a Golf course community. Grab this one quick, as it is priced to sell!

MLS Number: 4904040 Property Type: Single Family Bedrooms: 4 Bathrooms: 3 Square Footage: 2,220/ 6,534 Location: Oasis at Magic Ranch Year Built: 2006

RE/MAX Property Shop Rebecca Kallhoff Associate 4802759566 (Mobile) http://www.sellingazwithrebecca.com

Each Office Independently Owned and Operated ©2013 Imprev, Inc.

RE/MAX Property Shop 22036 S Ellsworth Rd Queen Creek, AZ 85142