From RealTrends.com: CoreLogic reported that the foreclosure inventory fell by 33 percent in January 2014 to approximately 794,000 homes, or 2.0 percent of all homes with a mortgage, from 1.2 million, or 2.9 percent, in January 2013. This marks 27 months of continual year-over-year declines in the inventory of foreclosed homes, including 13 straight months of declines greater than 20 percent. Additionally, the 12-month sum of completed foreclosures was at the lowest level in January since 2007. At its peak, the seriously delinquent inventory increased 88 percent year over year in April 2008, but it was down 25.3 percent year over year in January 2014.
Marion Skubi
February 2014
February 2014 Sales YTD Avg List Price Avg Sale Price 2013 Sales Value of the Month Las Campanas 8 1,124,125 1,103,242 5 Northwest County 17 578,882 557,360 8 Northeast City 27 632,722 599,192 24 Tesuque 7 592,100 560,985 1 Santa Fe City 122 445,584 315,000 112 Santa Fe County (includes city) 239 427,467 405,851 206 … Read more
The “There Is No Inflation” Report: Monthly House Payments for Home Buyers Increased 21% From a Year Ago
From RealTrends.com: RealtyTrac released a housing affordability analysis showing that the estimated monthly house payment for a median-priced three-bedroom home purchased in the fourth quarter of 2013 — including mortgage, insurance, taxes, maintenance, and subtracting the estimated income tax benefit — increased an average of 21 percent from a year ago in the 325 U.S. counties included in the analysis.
Builders Coming Back
From RealTrends.com: One of the great mysteries of this recovery has been the absence of significant growth in new home permits, starts and sales. In fact, most news from the homebuilders has been flat or outright bearish for the last three years. It looks as though that is about to change.
January 2014
January 2014 Sales YTD Avg List Price Avg Sale Price 2013 Sales Value of the Month Las Campanas 4 1,472,500 1,393,717 3 Northwest County 6 616,466 596,500 7 Northeast City 14 594,035 567,366 12 Tesuque 3 568,300 538,333 0 Santa Fe City 70 372,002 354,552 68 Santa Fe County (includes city) 105 436,696 416,353 107 … Read more
Will History Repeat Itself?
Written by Steve Murray, publisher From RealTrends.com: Record low interest rates, strongly increasing home prices and near record stock market highs in all indexes. A sluggish economy with a Federal government doing all that it thinks necessary to stimulate the economy. A political leader of Fannie and Freddie with a history of being in favor of expanding low income lending to the housing industry.
The New Mortgage Rules That Are Likely to Affect Your Next Home Purchase
From RealTrends.com: If you’re planning to buy a house next year — and unless you’re in a position to make an all-cash offer — chances are you’ll be affected by some significant changes occurring in the mortgage application process beginning in January. Several federal agencies are implementing new policies aimed at addressing lax underwriting standards … Read more
December Market Update
From RealTrends.com: The REAL Trends Housing Market Report for November 2013 shows that the rate of housing sales decreased on a year over year basis for the first time since August 2011. Sales of new and existing homes in November 2013 fell 0.1 percent from the rate of sales in November 2012. The annual rate of new and existing home sales for November 2013 was 5.665 million units down slightly from 5.669 million units sold in November 2012.
Home Sales Surge in September
From RealTrends.com: The REAL Trends Housing Market Report for October 2013 shows that the rate of housing sales increased strongly in September 2013 growing 20.9 percent from September 2012, a continuation of the powerful surge in housing sales that started in October 2011. The annual rate of new and existing home sales for September 2013 was 6.228 million up from 5.153 million recorded in September 2012 but down slightly from the rate in August 2013.
October 2013
October 2013 Sales YTD Avg List Price Avg Sale Price 2012 Sales Value of the Month Las Campanas 31 997,796 947,996 48 Northwest County 83 681,662 654,429 92 Northeast City 177 641,223 549,000 153 Tesuque 20 838,915 771,670 38 Santa Fe City 818 446,936 425,405 731 Santa Fe County (includes city) 1444 443,503 422,450 1326 Go … Read more