Showing posts with label home insurance. Show all posts
Showing posts with label home insurance. Show all posts

Friday, September 19, 2014

Where Did Americans Move This Summer?

Chicago, Washington, D.C., and Atlanta were the most popular moving destinations of this summer, according to United Van Lines' Summer Long-Distance Moving Trends Study. The moving company giant found that more Americans this summer left cities in the Sun Belt and West Coast to move to Midwestern and Northeastern cities.
On the Move
"Bucking recent trends, more people are moving to cities in the Northeast and Midwest," says Michael A. Stoll, economist, professor, and chair of the Department of Public Policy at the University of California, Los Angeles. "Popular metropolitan destinations driving city-to-city migration are those with a highly educated labor force and that have growing or mature business, financial, and insurance services. In addition, strong technology and health care industries are driving migration, sectors where recent job growth has been relatively robust in the broader economy."
The most popular metro areas for U.S. family moves during the peak moving season (based on United Van Lines' summer moving volume data) are:
  1. Chicago
  2. Washington, D.C.
  3. Atlanta
  4. Boston
  5. Los Angeles
  6. Dallas
  7. Phoenix
  8. New York City
  9. Minneapolis
  10. San Diego
What had people moving this summer? Seventy-one percent moved for a new job or corporate transfer; 13 percent moved because of retirement; and nearly 10 percent moved for health or other personal reasons, according to the United Van Lines survey. Dallas/Fort Worth, Atlanta, and Los Angeles were the most popular destinations for new jobs and corporate transfers, according to the survey.


Friday, July 11, 2014

Report: Hurricanes Could Put 6.5 Million U.S. Homes at Risk

More than 6.5 million homes along the U.S. Atlantic and Gulf coasts could be at risk of a storm surge from a hurricane, which could amount to nearly $1.5 trillion in potential reconstruction costs, according to the 2014 storm surge analysis conducted by CoreLogic. The analysis estimates the number and reconstruction value of single-family homes that could be exposed to a potential hurricane-driven storm surge.
When natural disaster strikes:
“This exposure could constitute significant risk for home owners and financial services companies, as many at-risk homes lack protection from insurance coverage,” CoreLogic’s report notes.
Florida has the highest number of homes at risk of storm surge damage, with nearly 2.5 million homes potentially in harms way, representing $490 billion in potential damages, according to the report. At the metro level, the New York metro area, which includes northern New Jersey and Long Island, contained the highest number of homes at risk for potential storm surge damage – 687,412 – as well as the highest reconstruction value at more than $251 billion.
The reconstruction value of homes exposed to storm surge damage was found to be much greater in the Atlantic region than the Gulf. The total reconstruction cost value of homes along the Atlantic coast is nearly $951 billion – nearly double the value of properties at-risk in the Gulf Region, at slightly over $545 billion, according to the report.
The CoreLogic analysis includes single-family homes, mobile homes, duplexes, manufactured homes and cabins. View the full report at CoreLogic. 
Source: CoreLogic




pendinghomesales Arizona AZ MesaAZ MesaArizona mesaarizonahomes mesaarizonahomesforsale mesaarizonarealestate gilbertaz gilbertazhomesforsale mesaazrealestate mesaazhomesforsale gilbertaz gilbertazrealestate gilbertazhomes gilbertazrealestateagent mesaazrealestateagent queencreekaz santanvalleyrealestate santanvalley santanvalleyrealtor santanvalleyaz santanvalleyhomesforsale queencreekrealestate queencreekaz queencreekrealtor florenceaz chandleraz chandlerazrealestate chandlerazhomesforsale chandlerazocotillorealestate scottsdalerealestate scottsdaleaz scottsdalehomesforsale scottsdalerealtors paradisevalley paradisevalleyaz paradisevalleyrealestate phoenixaz arizonarealestate Azrealestate arizonastate azrealestate azrealestateforsale azrealestateagent remax remaxagent buyingahome selligahome apachejunctionproperties apachejunctionhomesforsale apachejunctionarizona apachejunctionhomesales tempeaz tempeazhomesforsale tempeazhomes goldcanyonrealestate goldcanyonaz 

Monday, June 30, 2014

'Zombies' Make Up 21% of Foreclosures

Zombie foreclosures are still haunting the housing market, representing one in every five foreclosures nationally, according to RealtyTrac, a housing data firm. “Zombie foreclosure” is a term coined to describe properties where the foreclosure process has been started and the home owner vacates, but the foreclosure has never been completed. As such, the distressed home owners who vacate eventually find they still own the home, and are often unaware they are still responsible for it.
The vacated properties can become eyesores in neighborhoods and drive down nearby property values. They also take a big chunk out of local government revenue in the form of unpaid property taxes. RealtyTrac estimates that more than $400 million in property tax revenue is likely delinquent due to zombie foreclosures. Still, the zombie foreclosure rate has shown some improvement, falling 7 percent compared to the first quarter of this year and dropping 16 percent from year-ago levels.
Florida has the highest number of zombie foreclosures, accounting for more than one-third of all zombie foreclosures nationwide. New York, New Jersey, Illinois, and Ohio also have some of the highest numbers of zombie foreclosures across the country.
“Most of these states have seen an increase in new foreclosure activity over the past year, creating a more fertile breeding ground for zombie foreclosures,” says Daren Blomquist, vice president at RealtyTrac.
Some states, such as Florida and Illinois, are looking to combat zombie foreclosures by weighing legislation that could help “fast track” foreclosures and move the abandoned properties through the system more quickly, RealtyTrac reports. New York is also considering legislation that would make lenders responsible for the upkeep of zombie foreclosures. Some local governments—such as in Cleveland and Detroit—also are creating land banks that would include zombie foreclosures, allowing city officials to rehab properties or demolish them.

Where Zombie Foreclosures Are Highest

On a metro level, the seven markets with the highest number of zombie foreclosures, according to RealtyTrac’s second quarter report, are:
  1. New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa.
  2. Miami-Fort Lauderdale-Pompano Beach, Fla.
  3. Chicago-Naperville-Joliet, Ill.-Ind.-Wis.
  4. Tampa-St. Petersburg-Clearwater, Fla.
  5. Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.
  6. Orlando-Kissimmee, Fla.
  7. Jacksonville, Fla.
Meanwhile, California posted the largest drop in zombie foreclosures, down 57 percent in the past year. Other states posting large decreases are Arizona, Nevada, and Washington.
Source: RealtyTrac




Friday, April 26, 2013

Best Time to Sell? More Americans Say 'Yes'


Seller confidence is surging: The number of home sellers who say now is a good time to sell doubled in the second quarter, according to a new survey of nearly 2,000 owners conducted by real estate brokerage Redfin. In the first quarter of 2013, 22 percent surveyed said it was a good time to sell compared to 45 percent in the second quarter. 
The percentage of respondents who say now is a good time to buy dropped by 10 percent in that time frame. Forty-four percent of home owners say it's a good time to buy, compared to 54 percent in the first quarter. 
"More folks who bought before the bubble burst are now above water and listing their homes," says Chad Dierickx, a real estate practitioner with Redfin. "When sellers see their neighbors' homes selling quickly and for prices they never would have imagined a couple of years ago, they can't help but be optimistic about the market."
Nearly 32 percent of home owners surveyed said they have no concerns about selling right now. Eighty-five percent of sellers say they believe home prices will rise in their area for the next year — up from 81 percent in the first quarter, according to the survey. 
Source: Redfin
Read More


arizona homes salearizona house,arizona real estateaz housesaz real estatebusinesschief economisteconomyfor sale by ownerFSBOgilbert arizonagilbert azgilbert real estatehome for sale in arizonahomes for sale in san tan valley azhomes 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 valleyhomes in az for salehouses for salehouses in Arizona for salehow to sell my homejohnson ranchqueen creek,queen creek arizonaqueen creek azreal estate arizonareal estate azreal-estatesan tansan tan heightssan tan valley arizonasan tan valley real estateSelling my homeshort selling my homevalley homes salewhere is san tan valley az

Thursday, March 7, 2013

Short Sales Help Underwater Households


Data indicates that the pace of U.S. foreclosures is waning — in part because the housing market is rebounding but also because more home owners are engaging in short sales.
The approach has become more popular as home owners and real estate practitioners have learned the ropes of marketing and pricing these listings and as lenders have ironed out the kinks in order to process them more quickly.
Moreover, because they eliminate distressed mortgages, reduce the amount of time that vacant houses sit unoccupied, and command higher prices than foreclosures, short sales are seen as the more efficient way to unload underwater homes.
“Short sales change hands much more quickly,” says CoreLogic senior economist Sam Khater. “That’s a good thing for the economy and society.”
According to CoreLogic, foreclosures as a share of total homes sales slid to 11.5 percent in October 2012 from 17.3 percent a year earlier, while short sales increased to 10.4 percent from 8.1 percent over the same time frame.
Source: “Help for Underwater Homes,” The Wall Street Journal (March 6, 2013)
© Copyright 2013 Information Inc.
Read More


arizona homes salearizona house,arizona real estateaz housesaz real,az real estatebusinesschief economisteconomyfor sale by ownerFSBOgilbert arizonagilbert az,gilbert real estatehome for sale in arizonahomes for sale in san tan valley azhomes 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 sahomes for sale valleyhomes in az for sale,houses for salehouses in Arizona for salehow to sell my homejohnson ranchqueen creekqueen creek arizonaqueen creek azreal estate arizonareal estate azreal-estatesan tansan tan heightssan tan valley arizonasan tan valley real estate,Selling my homeshort selling my homevalley homes salewhere is san tan valley az

Friday, March 1, 2013

Mortgage Rates Move Lower


After mostly holding steady the last few weeks, mortgage rates inched down this week, giving housing a boost leading up to the spring home buying season, Freddie Mac reports in its weekly mortgage market survey. 
Freddie Mac reported the following national averages with rates for the week ending Feb. 28: 
  • 30-year fixed-rate mortgages: averaged 3.51 percent, with an average 0.8 point, dropping from last week’s 3.56 percent average. A year ago, 30-year rates averaged 3.90 percent. 
  • 15-year fixed-rate mortgages: averaged 2.76 percent, with an average 0.8 point, dropping from last week’s 2.77 percent average. Last year at this time, 15-year rates averaged 3.17 percent. 
  • 5-year adjustable-rate mortgages: averaged 2.61 percent, with an average 0.6 point, dropping from last week’s 2.64 percent average. Last year at this time, 5-year ARMs averaged 2.83 percent. 
  • 1-year ARMs: averaged 2.64 percent, with an average 0.4 point, dropping from last week’s 2.65 percent average. A year ago, 1-year ARMs averaged 2.72 percent. 
Source: Freddie Mac


arizona homes salearizona house,arizona real estateaz housesaz real,az real estatebusinesschief economisteconomyfor sale by ownerFSBOgilbert arizonagilbert az,gilbert real estatehome for sale in arizonahomes for sale in san tan valley azhomes 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 sahomes for sale valleyhomes in az for sale,houses for salehouses in Arizona for salehow to sell my homejohnson ranchqueen creekqueen creek arizonaqueen creek azreal estate arizonareal estate azreal-estatesan tansan tan heightssan tan valley arizonasan tan valley real estate,Selling my homeshort selling my homevalley homes salewhere is san tan valley az