Daily Archives: November 6, 2012

U.S. home prices decline in September | Waccabuc NY Real Estate

“While prices on a month-over-month basis are declining, as expected in the housing off-season, most states are exhibiting price increases,” said Corelogic chief economist Mark Fleming. “Gains are particularly large in former housing-bubble states and energy-industry concentrated states.”

Capital Economics, a research firm, noted that Corelogic’s measure of house prices isn’t seasonally-adjusted, adding that the downturn is seasonal and should not be surprising.

“As the summer-buying season draws to a close, it’s normal for prices to weaken,” said Capital Economics economist Paul Diggle in a report. “This seasonal downturn is something we have been warning about for some time now and it should not come as a surprise.”

The report said that, including distressed sales, the five states with the highest home-price appreciation were: Arizona, Idaho, Nevada, Hawaii and Utah. The five states with the greatest home-price depreciation, also including distressed sales, were Rhode Island, Illinois, New Jersey, Alabama and Delaware.

The report comes after the S&P/Case-Shiller 20-city composite index for home prices posted a non-seasonally-adjusted 0.9% increase in August, following a 1.6% gain in July. There was monthly growth in all cities but Seattle, where prices ticked lower. Read about how home prices have hit nearly a 2-year peak

Home prices fall in September, the first drop in months | South Salem NY Real Estate

After six straight months of gains, nationwide home prices fell 0.3% last month from August, tamped down by low prices on distressed properties.

But compared with the same month a year ago, prices for single-family homes are up 5%, according to Irvine-based CoreLogic. That’s the largest boost since July 2006 and the seventh straight year-over-year increase.

Prices in every state except for seven are up from last year, according to the report.

In California, they’re up 6.9%. In the Los Angeles-Long Beach-Glendale area, prices saw a 4.8% surge. They advanced 5.2% in the Riverside-San Bernardino-Ontario region.  

But compared with their peak highs in April 2006, statewide prices are down 37.2%.

Quiz: How much do you know about California’s economy?

Arizona led all states in price appreciation in September with an 18.7% upswing, followed by 13.1% in Idaho and 11% in Nevada. Rhode Island prices tumbled the most, sliding 3.5%.

Removing the effect of short sales and foreclosure transactions, nationwide prices are up 0.5% from August.

As the surge of demand common during the peak summer season wears off, CoreLogic predicts that prices will fall again in October, down 0.5% from September. But compared with October 2011, they’ll be up 5.7%.

“Home prices are responding to better market fundamentals, such as reduced inventories and improved buyer demand,” Anand Nallathambi, CoreLogic’s chief executive, said in a statement. “So far this year, we’re seeing clear signs of stabilization and improvement that show promise for a gradual recovery in the residential housing market.”

ALSO:

Home builder confidence rises to highest level in six years

Colony Capital buys 970 foreclosed homes for $176 million

Los Angeles metro area home prices predicted to keep rising

Core Logic home price index rises 5% | Katonah NY Real Estate

Posted by mhopkins on 11/6/12 at 9:54am

CoreLogic  ($23.87 0%) released its September Home Price Index report today, revealing that national home prices increased on a year-over-year basis by 5% in September 2012. This represents the seventh consecutive month of annual home prices increase — and the largest year-over-year increase since July 2006.

The pending index analysis indicated that October 2012 home prices, including distressed sales, are predicted to increase 5.7% from October 2011.

Month-over-month, these numbers are down 0.5% from September 2012, suggesting a seasonal slowdown entering the winter months.

“Home price improvement nationally continues to outpace our expectations, growing 5% year-over-year in September, the best showing since July 2006,” said Mark Fleming, chief economist for CoreLogic.

Distressed sales excluding, house price this October are expected to rise 6.3% year-over-year from October 2011 and increase 0.2% month-over-month since September.

“Home prices are responding to better market fundamentals, such as reduced inventories and improved buyer demand,” said Anand Nallathambi, CoreLogic CEO. “So far this year, we’re seeing clear signs of stabilization and improvement that show promise for a gradual recovery in the residential housing market.”

The HPI analysis shows that all but seven states are experiencing year-over-year price gains.

mhopkins@housingwire.com

Freddie Mac reports $2.9 billion third-quarter profit | Bedford Corners Real Estate

No

Author(s): 

Freddie Mac’s delinquency rates remained below industry benchmarks as the delinquency rate for single-family loans declined to 3.37% in September. That is down from 3.45% in June.

Freddie Mac secured a significant profit in the third quarter as the company’s book of business improved and the housing market turned around, improving the fundamentals associated with the agency’s loan pools.

The government-sponsored enterprise posted a net third-quarter profit of $2.9 billion, down slightly from $3 billion in the second quarter.

Freddie also finished the period without requiring additional draws on the Treasury and saw its inventory of delinquent loans fall to the lowest level in two years.

Overall, Freddie Mac pulled in $5.6 billion, an amount that allowed the GSE to pay a $1.8 billion dividend to senior preferred stock holders.

Housing statistics within the agencies’ portfolios also showed improvement. Higher quality loans now represent 60% of the firm’s business.

Delinquency rates remained below industry benchmarks with the late-payment rate for single-family loans declining to 3.37% in September. That is down from 3.45% in June. Meanwhile, the multifamily delinquency rate remained unchanged at 0.27%.

Freddie Mac must pay cash dividends to Treasury on the senior preferred stock at an annual rate of 10%. However, it was found that paying this dividend contributed to request for more funds.

On August 17, 2012, Freddie Mac, acting through its conservator the Federal Housing Finance Agency and Treasury ameded the agreement.

Under this amendment [2], the current fixed dividend rate will be replaced with a net worth sweep dividend beginning in the first quarter of 2013.

“This effectively ends the circular practice of Treasury advancing funds to us to pay dividends back to Treasury,” Freddie Mac said in the filing. “As a result, beginning in 2013, the need for future draws will not be driven by the dividend obligation.”

kpanchuk@housingwire.com [3]

 

 

 

Main Image: 

Fannie Mae: Home ownership to Fall Further | Bedford NY Real Estate

Just as the national homeownership rate showed signs of stabilizing over the past six months (See Has the Homeownership Rate Bottomed Out?), Fannie Mae’s Multifamily Research Group predicted today that the rate would fall another one to two points  by 2015 despite the fact that the company, along with Freddie Mac, owns the mortgages for about half the single family homes in the nation.

Fannie’s forecast calls for an additional 1.7 million new multifamily renter households between now and 2015 as the result of recent declines in homeownership related to economic stress and high foreclosures in the single-family market.

Rental demand will continue to grow faster than historical averages. The single-family rental market, a growing and distinct market from multifamily, has expanded 16 percent (about 3 million units) since 2007. Multifamily demand is likely to be 1.7 million new renter households between now and 2015 (slow growth prediction).

“Currently, most industry practitioners, including us, expect overall economic growth to be slower than the long-run average. Given this outlook, we forecast that the homeownership rate will continue to decline to around the 65 percent level, which implies 3.1 million new families or more than half of total new households will move into rental units. Consequently, multifamily demand will be solid with a total of 1.7 million net new renters from 2011 to 2015. Considering that the current multifamily construction pipeline is around 200,000 this year, this scenario suggests continued strength in the multifamily market,” the forecast said.

If the economic recovery accelerates, demand will be in the one million new renter range; and if no recovery, then in the 1.6 million range for new renters, Fannie predicted. In the more optimistic scenario, there a rebound in homeownership and it will rise to the 1999-2000 level by 2012.

“The research supports the optimism that currently pervades the multifamily market. It confirms that multifamily is a bright spot in in the real estate market and the economy more broadly, and it will likely continue to shine for quite some time,” said David Brickman, senior vice president of Freddie Mac Multifamily.

“The economic data indicates that current rental markets are very strong with low vacancy rates, rising rents and solid demographic trends. What this research demonstrates is that these conditions are likely to remain in place for several years to come,” said Brinkman.

Rentals Create Need for Space | Pound Ridge NY Real Estate

With the latest surge in both single and multifamily rentals, individuals and families on the move, finding extra space can be a challenge.

As some Americans look to the numbers and see some improvement in regions of the country when it comes to the housing market, especially when it comes to renting, they may need temporary or long-term storage needs, hence doing one’s homework to find the right unit is indeed important.

But for some on the move, they do not always take the time to do a qualified US Storage Search, meaning they are leaving things to chance when it comes to storing items for a short or long period of time.

So, how can you go about finding the right self storage unit and leave your worries behind?

Among the tips to follow:

* Know your needs – Above all else, know what space you will need. It is best to consolidate as much as possible, meaning using temporary shelving, stacking items on top of one another (lighter items always on top), and using each and every inch of space available. If you are just storing a few items, then space should not be as much of an issue, but still shop wisely. The last thing you want to do is rent a space that is bigger than you need and you are essentially paying for wasted space;

* Shop around – Like you would for just about anything else, shop around and get several quotes. Some storage centers may be offering price cuts, so you may come across a deal at just the right time. You also want to be able to compare prices side-by-side, making sure you are getting the most for your money. Be sure to inspect each place you may want to rent so you know the available space, neighborhood surroundings, security (see below), and what the customer service may be like;

* Be secure with your selection – One of if not the most important facets of finding the right self storage units is getting one that is secure. Those that have video cameras, gated entryways that require a key or numerical combination to enter, and provide good lighting should be high on your list. If the storage facility is in a neighborhood that has a high crime rate, make sure that the facility itself at least is well secured. Also look for a facility that is not in a flood-prone area where you could have weather issues to deal with;

* Facility conditions do matter – It is also important to find a storage facility that is well ventilated, meaning the chances of damage to your boxes, furniture and other items is minimal at best. If the unit is not well ventilated, there is always the potential for mold and dirt to be issues. If the unit is near a watery area, make sure that water getting into the facility and your unit especially is not an issue. Also check to see how the unit is built in that it is sturdy and there are not exposed nails and other items that could injure you or damage your goods. Lastly, are bugs and animals an issue? You don’t want a facility where such could get into your unit and damage your property;

* Read the fine print – Finally, make sure you read the contract that you are signing from top to bottom. Look for any hidden fees and charges that could be imposed on you. You can either pay on a yearly basis or a monthly basis, so make sure everything is spelled out to you. Some facilities will offer a cheaper price if you sign a longer-term deal, but ask yourself if you really think you will need the unit for a long time or if this is just a short stay. Also know the hours you can get into the facility to access your property, as not all self-storage businesses allow 24/7 access to customers.

In today’s changeable real estate market, it’s hard to anticipate whether you need a self-storage unit for just a few months or a longer period of time, invest the time needed to find the right facility.

Remember, your possessions need and deserve a good home.

How to Get More out of Your Social Sharing Buttons | Chappaqua NY Homes for Sale

Social media  sharing buttons are maybe the simplest and most under-rated evolution on the web in recent years.How to Make more of your sharing buttons

Twitter’s “Tweet” button and Facebook’s “Like” button  took sharing from a complicated cut and paste to a low friction simple click and share.

I introduced them to my blog very soon after they were introduced and noticed the increase in traffic immediately.

The pace of the evolution of social media is so fast that we forget that they were only introduced in 2010 with Facebook’s official like button appearing in April of 2010 and Twitter’s button released in August, 2010.

These opened up a Tsunami of sharing with recent figures showing that there are more than 3.2 billion likes on Facebook and over 400 million tweets on Twitter per day!

The bulk of sharing on the social web is now driven by these ubiquitous buttons. Google introduced Google+ just over 12 months ago and from the start the +1   button was a vital part of its tactic of measuring social signals that feed into the optimization of  Google’s search algorithm. Google uses these sharing actions to measure social signals that are now impacting SEO as the sharing reveals what content is valued and what isn’t.

The Importance of Social Sharing Buttons

As social sharing on social media continues to match SEO as a leading source of traffic for websites, it’s becoming increasingly important for sites to have the right social strategy to compete for users, page views and of course, revenue.

Until recently, publishers had two choices when working with social sharing buttons

  1. Go to all of the different social networks. Grab the separate JavaScript tags for buttons such as Facebook Share and Like, Twitter, Google+, LinkedIn, Pinterest, StumbleUpon, etc.  The problem here is that there are no centralized social analytics and the combined weight of all of the different JavaScript calls was the leading cause of sluggishness for sites.
  2. Leverage a 3rd party sharing platform like AddThis or ShareThis to get one code, easy customization and centralized social analytics.  The problem here is that by using these companies you allow them sell your data with $0 in revenue coming back to you.

For publishers who are care about page load time, revenue and maximizing their social strategy, there is one provider that can solve all of the problems above, and it’s called Po.st.

Make Revenue from Sharing Buttons

My site has been using Po.st—the revenue based sharing platform from RadiumOne—for the last month.  Po.st combines the best of both worlds in that they give publishers an easy-to-implement JavaScript tag that is highly customizable and up 50% lighter in weight than going to all of the different providers directly.  In addition to the lightweight JavaScript tag, they are the only platform that allows you to monetize social sharing on your site.

How to Maximize your Sharing

Regardless of the sharing platform you choose, here are some great tips (from Po.st) to keep in mind to get the most out of your social sharing buttons

  1. Keep it uniform—Make sure buttons are uniform in design and size. Whether you choose to display icons or extended name buttons, select one style and use it throughout your entire site
  2. Opt for multiple sharing buttons—Readers need choices. Data we’ve gathered from thousands of sites indicates sites that give readers a minimum of 5 different sharing channel choices generate the largest volume of sharing. Twitter, Facebook, and email buttons are obvious, but make sure to include other channels important to your audience
  3. Include share counters—Readers like to see that other people have shared and it helps add credibility
  4. Integrate calls-to-action—Make sure to indicate that you’d like people to share your content. A simple “Share” is enough to get people’s attention or if you’d like to add more colorful language, do it. You’ll be surprised what a simple word can do to encourage your readers start sharing your content
  5. Top of mind placement—Place your sharing options where users can quickly find the buttons and remember where they are the next time they come back to your site. If your site has multiple articles or posts per page, display sharing buttons for each article. If your site typically has long articles, you’ll need to place the buttons at the top and bottom to allow readers to share the moment the minute they finish reading

How to Get Started

To start using Po.st, click here to get started. If you are a WordPress user, visit here to download the Po.st plugin. As a bonus, send an email to the Po.st team (publishers@po.st) and tell them Jeff Bullas referred you to ensure a premium ad CPM.

What About You?

How prominent  are your sharing buttons? Are they hidden at the bottom of your articles or are they at the top.

When you introduced the buttons did they make a difference to your blog traffic?

Look forward to hearing your stories

 

Want to Learn How to Market Your Business and Brand on Social Networks?

My book – Blogging the Smart Way “How to Create and Market a Killer Blog with Social Media” – will show you how.

It is now available to download. I show you how to create and build a blog that rocks and grow tribes, fans and followers on social networks such as Twitter and Facebook. It also includes dozens of tips to create contagious content that begs to be shared and tempts people to link to your website and blog.

I also reveal the tactics I used to grow my Twitter followers to over 115,000.

You can download and read it now.

40
inShare