November 2015

Found 21 blog entries for November 2015.

Mortgage rates for all types of loans were down last week according to the Mortgage Bankers Association® Weekly Applications Survey. The drop in mortgage rates follows 4 straight weeks of rate increases. Even with the lower rates, findings show demand for loans to purchase homes for sale and condos for sale was down from the previous week.

Furthermore, the Refinance Index fell 5 percent and the Purchase Index (a leading indicator for future home sales) dropped 1 percent. However, the Purchase Index remains 24 percent higher than it was during the same period 12 months ago.

MBA’s chief economist, Michael Fratantoni spoke to CNBC and indicated demand for more expensive homes is continuing to outpace mortgage applications for more affordable

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The S&P/ Case-Shiller Home Price Indices are considered accurate monthly statistics when looking at year over year and month over month measurements for home prices across the country. The most recent findings show home prices are up 4.9 percent as compared to 2014 representing a minor uptick from the prior report, but is consistent with the trend.

In general, housing prices are showing signs of stability after many years of volatility. Current readings indicate annual price increases repeatedly ranging between 4 and 5 percent above last year’s level. S&P Dow Jones Indices’ managing director David M Blitzer believes home prices will continue strengthening. He said, “Home prices and housing continue to show strength with home prices rising at more than

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Potential buyers of homes for sale in Fort Lauderdale and Fort Lauderdale condos for sale find it extremely difficult to obtain loan financing when mortgage credit is tight. As a result, fewer applicants will qualify for loans resulting in fewer homes being sold.

However, there is positive news from the Mortgage Bankers Association (MBA) indicating mortgage credit has loosened. Furthermore, the Mortgage Credit Availability Index - which scores any increase in availability as credit loosening and less availability as requirements as tightening - showed an availability increase of 1.5 percent as compared to September.

MBA’s chief economist, Mike Fratantoni recently commented that the results in the month of October are partly because of new loan

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The National Association of Realtors® (NAR) released recent figures showing existing home sales dropped back a bit in October after jumping almost 5 percent in September. Total existing home sales - which include single-family houses, townhouses, condominiums and co-operatives slipped by 3.4 percent from September - however, they are still unchanged at 3.9 percent above the level this time last year.

NAR’s chief economist Lawrence Yun said he expected home sales to slow down. He said, “New and existing-home supply has struggled to improve so far this fall, leading to few choices for buyers and no easement of the ongoing affordability concerns still prevalent in some markets.”

Despite the lack of inventory for homes for sale and condos for sale, Mr

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One of the best ways to measure how many new construction homes will be built in the coming months is to look at the number of building permits issued. The US Census Bureau and Department of Housing & Urban Development (HUD) tracks building permits each month to offer an outlook for the new construction real estate market.

In October of this year, government issued permits for single-family home construction increased by 4.1 percent as compared to the previous month. This is very good news considering housing starts (the number of new houses that broke ground during the month) fell 2.4 percent from the month before. Although fewer homes broke ground in October, expectations are that new construction activity will soon rebound.

Michelle Girard, chief

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photo of for sale sign

This week's featured newest homes for sale in Fort Lauderdale:

The following are Fort Lauderdale Beach homes for sale: A beautiful open floor plan with direct Intracoastal views on West Tradewinds Ave offers the finest in Lauderdale by the Sea real estate. Also available on East Tradewinds Avenue, a 3 bedroom home with 80 feet on the water being sold as a home foreclosure. A completely remodeled dry lot home for sale in Bermuda Riviera - This property on Fort Royal Isle offers 3 bedroom/ 2 baths and just under 2,500 square feet.

The Landings Homes For Sale - this 4 bedroom 4 baths waterfront home for sale is an interior point lot home on NE 56th Court with more than 3,000 square feet of living area and offering 285 feet of waterfront dockage.

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Recent findings from RealtyTrac’s US Foreclosure Market Report show the total number of foreclosure starts in the month of October reached it’s highest mark in 4 years, up 12 percent. The jump aligns with similar data from October in previous years, however the amount of increase this time was significant.

Daren Blomquist, RealtyTrac VP said, “We've seen a seasonal increase in foreclosure starts in October for the past five consecutive years, so it's not too surprising to see the monthly increase this October.” He continued, “However, the 12 percent increase this October is more than double the average 5 percent monthly increase in the past five Octobers, and the even more dramatic monthly increases in some states is certainly a concern.”

Even with

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As the final days of 2015 are approaching, the real estate housing market and economy are showing positive signals. Fannie Mae’s Economic & Strategic Research Group is forecasting a strong 4th quarter finish for the economy. Higher hourly earnings combined with lower unemployment statistics is leading to most folks feeling financially stable, which should encourage more spending.

This is good news for both the housing market and overall economy. Doug Duncan, chief economist at Fannie Mae, recently said, “Despite mixed housing and mortgage market data, our forecast for housing activity is little changed over the past two months. The supply of existing homes [for sale and condos for sale] remains lean amid slowing new single-family construction, putting

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Recent findings from the National Association of Home Builders 55+ Housing Market Index show that the housing market is booming among buyers aged 55 and older. The index - which looks at what builders think about current sales activity, the amount of current buyers looking and their outlook over the next six months - is calculated by a score above 50 indicated conditions are favorable. Results of the 3rd quarter show a score of 60, and increase of 3 points from quarter two.

NAHB’s chief economist David Crow believes the real estate market as far as baby boomers, is strong and growth is expected to continue. Mr. Crowe said, “Like the overall housing market, we continue to see steady, positive growth in the 55+ market,” Crowe said. “With the economy and

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Overall, most Americans are confident in their job security, but they may have 2nd thoughts about buying a house for sale or condo for sale according to a recent study by Fannie Mae. The Fannie Mae monthly Home Purchase Sentiment Index questions folks about their thoughts on home ownership, price changes, economic conditions and their personal finances.

The responses were fairly flat as compared to the previous month with a small drop in the number of respondents who believe they should wait before buying a home. Fannie Mae’s senior VP and chief economist, Doug Duncan while Americans feel secure in their employment, their household incomes aren’t growing.

Mr. Duncan said, “The income growth necessary for renewed momentum in housing market sentiment

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