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August 2012

Found 23 blog entries for August 2012. -Prices went up for foreclosure-related sales on a quarterly and yearly basis, with the annual increase marking the first rise in two years, according to RealtyTrac’s Q2 foreclosure sales report.

The average price for foreclosure-related sales stood at $170,040, a 6 percent increase from the previous quarter and a 7 percent hike from the second quarter of 2011. The annual increase is the first since the second quarter of 2010 and the biggest yearly increase since the fourth quarter of 2006.

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837 Views, 0 Comments - Americans signed more contracts to buy homes in July than at any time in the last two years, further evidence of a housing recovery.


The National Association of Realtors said Wednesday that its index of sales agreements for previously occupied homes jumped 2.4% in July to 101.7. That's higher than June's 99.3. It's also the highest reading since April 2010, last month that buyers could qualify for a federal home-buying tax credit.

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697 Views, 0 Comments - An investment group completed its purchase Tuesday of the downtown National Guard Armory.

At the closing of the sale, Matt Johnson, vice president of First Interstate Bank, handed over the keys to Cory Lawrence, head of Kelryco Inc. and president of the local adventure travel company Off the Beaten Path.

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871 Views, 0 Comments - When it comes to existing-home sales and the national median home price, rates are on the rise.

According to the National Association of Realtors (NAR), total existing-home sales, including single-family, townhomes, condos, and coops, grew by 2.3 percent for the month of July. Single-family home sales increased 2.1 percent. Existing condominium and co-op sales rose 4.3 percent.

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1,119 Views, 0 Comments - Average fixed mortgage rates in the U.S. continued to move higher over the past week--marking the fourth week in a row--as more signs emerged of improvement in the housing market, according to mortgage-finance company Freddie Mac (FMCC).

Freddie Mac Chief Economist Frank Nothaft noted recent positive housing data included an increase of residential building permits during July as well as an improvement in existing home sales last month--including the largest year-to-year gain in median home prices since January 2006.

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701 Views, 0 Comments - “While the general U.S. economy continues to struggle to make gains, for the first time since the end of the recession, housing may actually make a significant contribution to economic growth in 2012, a welcome change to affairs for an otherwise struggling economy.”

The above excerpt comes from CoreLogic’s August MarketPulse Report which provides insight into the current and future health of the U.S. economy with emphasis on housing and mortgage metrics.

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672 Views, 0 Comments - 1. This fall, the housing market may avoid the slide that has occurred each of the last three years because of an improving balance between supply and demand, declining REO sale shares and a slowly declining foreclosure inventory.
2.  A lower likelihood of foreclosures flooding the housing market is beneficial because the market is more likely to absorb the inventory without dramatic changes in price.
3.  Many borrowers in both the boom and “rust-belt” markets lack the means to prevent serious delinquency due to their limited ability to refinance at a lower mortgage interest rate. Policies designed to offer options for borrowers to lower their interest rates further can help decrease the flow of future delinquencies.
4.  The current share of…
894 Views, 0 Comments - July home sales increased 10% from last year, according to real estate franchisor RE/MAX.

It marks the 13th straight month of annual increases in sales even after falling more than 9% from the previous month.

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Some homeowners may have a strong preference for selling their own properties, but a new poll by HomeGain suggests having a real estate agents improves a person's odds of offloading their home.

About 66% of homeowners who utilized the services of a Realtor, for example, managed to sell their home — while only 30% of those who attempted to sell their own properties were successful.

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RISMEDIA, Friday, August 17, 2012— Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates following long-term Treasury yields higher. This marks the third straight week of fixed mortgage rates moving higher. 

The survey reported that the 30-year fixed-rate mortgage (FRM) averaged 3.62 percent with an average 0.6 point for the week ending August 16, 2012, up from last week when it averaged 3.59 percent. Last year at this time, the 30-year FRM averaged 4.15 percent. 

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656 Views, 0 Comments