National News

Is Housing’s Foundation Getting Stronger?

Chief Economist for Fannie Mae Doug Duncan released a statement today that said housing market activity is on a steady incline toward improvement, “well ahead of last year’s pace.” Duncan’s statement coincides with Fannie Mae’s recent findings in their

Rents Average Over $1000 A Month

Real estate data firm Reis, Inc. is reporting that average rent costs have reached a record increase in 74 out of 82 markets that it is tracking in the second quarter, including cities like Chicago, Miami, Seattle, San Diego

3 Reasons the FHFA’s REO Pilot Program is a Good Thing

The Federal Housing Finance Agency (FHFA) has selected the winner bidders for its pilot initiative, putting the agency one step closer to closing out what many have anticipated as its most helpful program yet for the U.S. housing market. The program,

$500 Marketing Budget – What Would You Do?

ActiveRain, the popular online real estate network, has an intriguing question for agents – what would you buy if you were on a marketing budget of $500 per month? That question is at the heart of a new competition

Gains for Home Prices in CoreLogic Index Make it 3 Months in a Row

Home prices in CoreLogic’s May home price index rose for the third consecutive month, posting both monthly and yearly gains. From April to May, national home prices were up 1.8 percent, CoreLogic reported, and price rose year-over-year by 2

4 Explanations for Why Housing Inventory Is So Low

Housing inventories have been on a roll lately, but not the kind many of us had expected – it just keeps going, and going, and going down! In May, the most recent month we have data for, Realtor.com’s for-sale

Mortgage Underwriting Standards Less Strict in 2012

Lessening underwriting standards are the great white whale in housing’s recovery, and the 2012 Survey of Credit Underwriting Practices from the Office of the Comptroller of the Currency (OCC) is making some suggestions that the tide may be turning for home

Ask a Lender: Mike Gambatese, Guaranteed Rate

Q. Are Banks Getting Tougher or Easier with Lending Guidelines? A. We have plenty of options for all types of buyers. We have loan programs that are specifically designed for buyers ranging from inexperienced first-time homebuyers to seasoned homeowners who have

App Review: Prudential Rubloff iPad App

Looking to join Sotheby’s International Realty in the iPad App game, Prudential Rubloff Properties has expanded their Prudential Rubloff Mobile application for buyers and agents alike who use the tablet in their house hunting process. The app, released on

Paging Dr. Robert J. Shiller – Housing Guru on How to Fix Housing

Robert J. Shiller is more than just a highly-respected professor of economist at Yale – he’s the co-creator of the Case-Shiller Home Price Indices, one of the most influential readings available on the U.S. housing market. Therefore, it makes

Prepping for the Sale – 4 Essential Steps

Prepping a property for potential buyers is a multi-tiered process, one that involves a number of steps across a number of different mediums. From writing the initial Internet listing to scrubbing the home’s interiors and exteriors for showings, a

Do Americans Value Their Cars More than Their Houses?

Homeownership is often seen as the ultimate realization of the “American Dream.” Though the emotions behind that sentiment are still running strong, a recent report suggests that consumer spending habits may have different priorities, and that other big purchases now take precedent over

What’s in a Housing Recovery? 3 Things to Keep in Mind

In case you’re late to the party, allow us to bring you up to speed – various sources are saying housing is inching towards recovery. Existing-home sales were up 9.6 percent last month, new home sales 19.8 percent, and

NAR Pending Home Sales Index Rises 5.9 Percent in May, MORe co-President Jack Persin on ‘Brisk’ Chicagoland Markets

The National Association of Realtors’ Pending Home Sale Index bounced back to positive territory in May, rising 5.9 percent to its highest level in two years. With a reading of 101.1, the index is 13.3 percent higher than a

Chicago Home Prices Rise 1.1 Percent in April 2012 Case-Shiller Index

Home prices in Chicago improved in the latest Case-Shiller Home Price Index, increasing 1.1 percent from March to April according to Standard & Poor’s (S&P). That increase came after a 2.5 percent price decline from February to March, which had brought

New Home Sales For May 2012 Leap 19.8 Percent, Garrison Benson, the CEO/president of Garrison Partners on ‘Outstanding’ Market

Sales of new singe-family homes for the month of May, according to new data from the Census Bureau, rose 19.8 percent year-over-year to a two-year high. The 369,000 seasonally-adjusted annual rate was also 7.6 percent above April’s rate of

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