Hey guys,

I thought I would send out a market update that will encompass a dramatic shift on price appreciation, interest rates, inflation and inventory level re-sell and new home inventories and strategies.

1.       Prices – I truly believe that you will see prices drop in every market going forward in the next 4 to 6 months. Price drops have already started in some areas as of this publication. The non-demand areas – weaker school systems could very well drop up to 5 percent to 7 percent if interest rates level. The solid school system homes will remain much more stable and depending on the area of the school system should hold and stabilize. Certain homes will depreciate even in the higher demand areas but not significantly. These areas may see a

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These 10 markets are expected to sizzle over the next few years

HomeMarket Update by Steve Randall12 Dec 2019

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• Customers say these are the top mortgage lenders

  LendingTree’s quarterly list is based on reviews

• Housing boom is back... but without the bubble

  America's housing market is booming with home prices nationwide now back to where they were a decade ago, just before the financial crisis

A range of factors suggest that some US housing markets are set to outperform the wider market over the coming years.

According to a top 10 ranking by the National Association of Realtors, strong job growth, domestic migration, housing affordability for new residents, population age structure,

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Housing to drive economic growth in 2020 – Fannie Mae

 

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• The Many Ways to Be Relieved of Your Timeshare Obligations

  While it is true that a timeshare contract is a binding legal document, it is often mistakenly thought that such a contract cannot only be cancelled. In fact, most timeshare companies maintain that their contracts are non – cancellable. This misconception is perpetuated by timeshare companies and user groups that are funded, maintained and controlled by the timeshare industry.

• Straight Up with Jocelyn Predovich: The Truth about FHA 203k Loans

  The FHA 203k loan program provides home buyers the opportunity to buy and fix up a property, without exhausting their personal savings.

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Median priced homes not affordable in 74% of US housing markets

HomeMarket Update by Steve Randall28 Jun 2019

• America's housing market is booming with home prices nationwide now back to where they were a decade ago, just before the financial crisis

Average wage earners cannot afford a median priced home in 74% of 480 counties across the US.

The analysis of home affordability in the second quarter of 2019 by ATTOM Data Solutions shows that things are worsening in 40% of markets where median home prices are growing faster than wages.

"Despite falling mortgage rates and rising wages, the cost of owning the typical home remains out of reach or a significant financial stretch for the nation's average

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HOME AFFORDABILITY STILL PROBLEMATIC – BUT FOR HOW LONG

 

Home prices are falling. In some markets one could argue that it is the beginning of a strong correction. Maybe that is just want the housing market needs as home affordability is still at a 10-year low (Attom Data Solutions).

 

Wage growth is increasing, but at a snail’s pace, and home prices have been far outpacing incomes. As housing inventory increases, home prices continue to fall, and interest rates stabilize (momentarily), we may have the perfect storm for a strong buying season this spring.

BUILDERS NOT BUILDING

 

Housing starts dropped 11.2% in December according to the last report from HUD. Despite the monthly loss, both single-family and multifamily starts posted an

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Tom Brewer Premiere Properties and Mortgage…

Home sales are 6.5% below their potential says report

HomeMarket Update by Steve Randall19 Nov 2018

 

America's housing market is booming with home prices nationwide now back to where they were a decade ago, just before the financial crisis

US home sales should be running 6.5% higher than their current pace but supply issues and interest rates are stifling the market.

That’s one of the key findings of the latest Potential Home Sales Index from First American Financial Corporation, which shows that there should be 391,600 more sales on a seasonally-adjusted annualized rate.

However, the gap in October was narrower than in the previous month by around 64,800 sales.

“While the housing market continues to

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Why the Housing Market Is Slumping Despite a Booming Economy

Home prices are out of reach relative to incomes and mortgage rates. The big question for the economy is how the imbalance adjusts.

A sign pointed to an open house in Waukee, Iowa, earlier this year. Housing sales have slowed in recent months.       A sign pointed to an open house in Waukee, Iowa, earlier this year. Housing sales have slowed in recent months.

These should be happy times for the housing sector. The economy is booming, with more people working at higher pay, and with the sizable millennial generation reaching prime home buying age.

Instead, the housing market has gone soft, acting as a drag on the

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Housing starts to decline in 2019 but demand will also ease

HomeMarket Update by Steve Randall28 Oct 2018

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America's housing market is booming with home prices nationwide now back to where they were a decade ago, just before the financial crisis.

US housing starts are set to ease in 2019 but demand is also expected to weaken.

That’s according to Dodge Data Analytics which forecasts that single-family housing starts will be down 3% in unit terms to 815,000 (Dodge basis) but unchanged in dollar terms.

Rising mortgage rates, lower affordability, and reduced benefits from tax cuts introduced this year, will mean slightly lower demand for newly-built homes.

Meanwhile, in the multifamily sector Dodge

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U.S. Pending Home Sales Fell 1.8% in August

    Tim Boyle/Getty Images

WASHINGTON—The number of U.S. existing homes going under contract declined in August for the fourth time in five months, reflecting what appears to be a broader slowdown in the housing market.

The National Association of Realtors on Thursday said its pending home-sales index, which tracks contract signings for purchases of previously owned homes, fell 1.8% from the prior month to 104.2 in August. Sales, unless they fall through, typically close within a month or two of signing.

Economists surveyed by The Wall Street Journal had expected a 0.4% decline in August.