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Archive for August, 2011

Pending Home Sales Slip in July but up Strongly from One Year Ago

August 31, 2011 Leave a comment
 

 

Pending home sales declined in July but remain well above year-ago levels, according to the National Association of REALTORS®. All regions show monthly declines except for the West, which continues to show the highest level of sales contract activity.

The Pending Home Sales Index, a forward-looking indicator based on contract signings, slipped 1.3 percent to 89.7 in July from 90.9 in June but is 14.4 percent above the 78.4 index in July 2010. The data reflects contracts but not closings.

Lawrence Yun, NAR chief economist, says sales activity is underperforming. “The market can easily move into a healthy expansion if mortgage underwriting standards return to normalcy,” he says. “We also need to be mindful that not all sales contracts are leading to closed existing-home sales. Other market frictions need to be addressed, such as assuring that proper comparables are used in appraisal valuations, and streamlining the short sales process.”

The PHSI in the Northeast declined 2.0 percent to 67.5 in July but is 9.7 percent above July 2010. In the Midwest the index slipped 0.8 percent to 79.1 in July but is 18.8 percent above a year ago. Pending home sales in the South fell 4.8 percent to an index of 94.4 but are 9.5 percent higher than July 2010. In the West the index rose 3.6 percent to 110.8 in July and is 20.6 percent above a year ago.

“Looking at pending home sales over a longer span, contract activity over the past three months is fairly comparable to the first three months of the year, and well above the low seen in April,” Yun says. “The underlying factors for improving sales are developing, such as rising rents, record high affordability conditions and investors buying real estate as a future inflation hedge. It is now a question of lending standards and consumers having the necessary confidence to enter the market.”

Dave & David Warner
 

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California Real Estate Foreclosure Trends

August 30, 2011 Leave a comment

Check out this zoom map of California Foreclosures by County – then city- then  zip code.

http://www.realtytrac.com/trendcenter/ca-trend.html

From Realty Trac

Dave & David Warner
 

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Summary of Weekly Mortgage Rates – August 25, 2011

August 25, 2011 Leave a comment
Regional Breakdown 30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM
Average Rates 4.22 % 3.34% 3.07 % 2.93 %
Fees & Points 0.7 0.6 0.5 0.5
Margin N/A N/A 2.74 2.76

From Freddie Mac

Dave & David Warner
 

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19 inch Wyoming Rainbow

August 20, 2011 Leave a comment
Callwarner.wordpress.com

Dave with a 19"er

Caught near Kemmerer, Wy.

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CSF Titans 2012 Baseball Schedule

August 18, 2011 Leave a comment

Summary of Weekly Mortgage Rates – 8/18/2011

August 18, 2011 Leave a comment
Regional Breakdown 30-Yr FRM 15-Yr FRM 5/1-Yr ARM 1-Yr ARM
Average Rates 4.15 % 3.36% 3.08 % 2.86 %
Fees & Points 0.7 0.6 0.5 0.6
Margin N/A N/A 2.73 2.76

 

From  Freddie Mac

Dave & David Warner

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Been Fishing in Utah and Wyoming

August 17, 2011 1 comment
Callwarner.wordpress.com

Dave with a 20.5" Rainbow

 
 
 
 
 
 
 
 
 
 
 Dick’s place in Wyoming
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