U.S. home value appreciation rates are expected to increase in 2013 but then drop in 2014, according to a Zillow Home Price Expectations Survey. By the end of 2013, home values are expected to increase 6.7% year over year; however, starting next year, there is an anticipated slowdown for the following five years, according to […]
RealtyTrac recently reported that a total of 14% of residential sales in the last year derived from people or institutions buying 10 or more residential properties. This is the highest level since RealtyTrac began tracking home purchases two years ago. Forty-nine percent of last month’s home sales were all-cash, up from 40% in August and […]
The National Association of REALTORS recently reported that approximately 29 percent of today’s homebuyers are down from the “historic norm” of 40 percent. The NAR cited tight credit conditions, limited housing inventories, and steep competition from investors for the same properties as reasons for the shrinking number of first-time homebuyers. Kevin Gillen, an economist at […]
The Federal Reserve Bank of New York recently came out with its biannual Small Business Credit Survey, which showed lenders expressing a more positive attitude towards small business financing. The survey — which received more than 800 responses from businesses from New York, New Jersey and Connecticut — showed that almost half (44%) of small […]
CoreLogic recently reported that the shadow inventory during the month of January dropped 18% from its January 2012 levels. There are now 2.2 million homes that are considered seriously delinquent, in some stage of foreclosure or REO (real estate owned) by a lender but not listed anywhere as being for sale. Further, January’s figure was […]
Affordable Financial Services LTD is proud to sponsor the upcoming Pink Tie Event, which will be held on April 8 at 6:30 p.m. The event will take place at Carlyle on the Green at 99 Quaker Meeting House Road in Farmingdale. There will be cocktail hour, dinner and open bar. Guests include New York Knicks […]
CoreLogic recently reported that there were 767,446 completed foreclosures on active mortgages in 2012, which comes out to one in every 53 active mortgages. Despite the high numbers, CoreLogic pointed out it is an improvement over 2011, when there were 830,000 foreclosures. In December 2012, there were 56,000 completed foreclosures — lower than the previous […]
Multiple Listing Services of Long Island recently reported that there were 2,368 closings in December 2012 — a 25.7% jump over November’s figure of 1,885 and 7.5% higher year over year when there were 2,202 closings in December 2011. There were also 1,928 pending sales in December, compared to 1,838 in November (a 4.9% increase), […]
Today, Lender Processing Services, Inc. released its “first look” report which showed that the delinquency rate for the month of August fell 2.3 percent compared to July. In addition, the August delinquency rate was 10.6 percent below levels from 12 months ago, according to the report. These statistics were derived from Lender Processing Services’ loan-level […]
Sales and prices of vacation homes in 2010 plunged to almost half the record number of sales in 2005 and 2006. The National Association of Realtors recently reported that sales plummeted from a high of 5.02 million in 2005 to a mere 3.81 million in 2010. Vacation homes accounted for only 10% of all sales […]