January 2013

Found 23 blog entries for January 2013.


bloomberg.com - The “R” word that economists were using after yesterday’s news that U.S. gross domestic product contracted in the fourth quarter was rebound, not recession.

 

The economy will bounce back in the current quarter after plunging defense spending and dwindling inventory growth swamped gains for consumers and businesses in the final three months of 2012, according to economists at JPMorgan Chase & Co., Bank of America Corp. and Morgan Stanley. Businesses probably will rebuild stockpiles while consumers and companies keep on spending.

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realestate.aol.com - With all signs tilting toward a sellers' market for the first time in years, it's helpful for buyers to understand today's seller. No two sellers are alike, of course. But there's a certain mindset that many sellers these days share, and it's a grateful one for many. Understanding that mindset can help buyers more successfully and easily navigate through the process of purchasing a home. The same holds true for sellers. They should be mindful of the buyers who stand before them. Here are three things homebuyers should know about today's sellers.

1.  Many Homeowners Are in a Negative Equity Position  2.  Sellers Are Often Buyers, Too  3.  Sellers Are Starting to Feel Relieved But Are Still Cautious

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inman.com - Sales of new single-family homes rose 19.9 percent from 2011 to 2012, with 367,000 newly-built homes sold last year, the U.S. Census Bureau reported today.

It's been seven years since new-home sales posted an annual gain, but 2012 was still the third worst year in Census Bureau records dating to 1963, blogger Bill McBride noted on Calculated Risk. The two worst years for new-home sales were 2010 and 2011.

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cnnmoney.com -Just over half of economists surveyed by CNNMoney identified a housing recovery as the primary driver of economic growth this year. The rest were split fairly evenly between consumer spending, increased domestic energy production and stimulus from theFederal Reserve as major growth drivers.

"Homebuilding activity will likely remain the strongest growing component of the economy in 2013," said Keith Hembre, chief economist of Nuveen Asset Management. "After several years of excess supply, demand and supply conditions are now in much better balance."

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After years of dead open houses, price reduction after price reduction and failed attempts to sell homes, many real estate markets are picking up. This could be welcome news to someone who has been forced to have kids share a bedroom, suffer through a long commute or any number of reasons why folks would want to sell their home. Even though sales activity is up, sellers still must be ready to do what it takesto get their home sold. It's still not the good old days. Buyers continue to be cautious and don't want to make a bad decision. It's more important than ever to do what it takes to work with potential buyers and prepare as best you can to get your home sold.

Here are five mistakes that serious sellers must avoid when going on the market today.
1. Not

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nytimes.com - Home values rose nearly 6 percent in 2012, according to year-end data from the real estate Web site Zillow. But such increases aren’t likely to continue.

The increase is the largest annual gain since 2006, near the peak of the housing bubble, and is greater than the typical appreciation seen in healthy markets. Zillow forecasts an increase next year of about 3.3 percent, more in line with typical housing market appreciation. (Historically, annual appreciation averages about 3 percent, according to Zillow’s research.)

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reuters.com - "The reality is that the appraiser is only there for 30 minutes at most," says Brian Coester, chief executive of CoesterVMS, a nationwide appraisal management company based in Rockville, Maryland. "The best thing a homeowner can do to get the highest appraisal possible is make sure they have all the important features of the home readily available for the appraiser."

Here are eight ways you can bolster your appraisal:           1. Make sure appraiser knows your neighborhood  2. Provide your own comparables   3. Know what adds the most value   4. Document your fix-ups  5. Talk up your town  6. Distinguish between upstairs and downstairs  7.Clean up  8. Give the appraiser some space

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Anxious for interest rates to rise in 2013? Take a chill pill.

money.cnn.com - The low rates of the past few years -- which have warmed the hearts of mortgage applicants but been cold comfort to savers -- are unlikely to budge soon. For that, thank (or blame) the Federal Reserve.

To spark growth, the Fed is aiming to keep the influential rate at which banks lend one another money between 0% and 0.25%, and it expects that number to be "exceptionally low" until at least mid-2015.

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usatoday.com - The aftermath of the housing bust forced many homebuilders to dramatically scale back construction on new homes to avoid the risk of ending up saddled with a trove of newly built, yet unsold properties.

But an improving housing market has homebuilders feeling more confident about sales, and that's likely to kick the pace of new construction into a higher gear this year.

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usatoday.com - The average rate on 30-year fixed mortgages inched down toward its record low this week, helping to keep home buying affordable.

Mortgage buyer Freddie Mac says the rate on the 30-year loan dipped to 3.38% from 3.40% last week. It's slightly above the 3.31% rate reached in November, lowest on records dating to 1971.

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