Monthly Archives: May 2014

32% of people looking to buy a home in the next two years | Chappaqua Real Estate

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Americans are becoming more optimistic about buying a home, with 67% of people saying they plan on purchasing a home, and of that amount, 32% are looking to buy within the next two years.

The PulteGroup (PHM) Home Index surveyed 1,004 adults on their sentiment about the U.S. economy and how current housing conditions are impacting future homebuyers.

According to the survey results, 74% of adults feel the economy has remained steady or improved in the last year.

As a result, 57% of adults think now is a good or excellent time to purchase items they want or need, especially when it comes to entering the housing market.

Millennials and move-up buyers are the most engaged consumer segments, with 85% and 71%, respectively, intending to purchase a home in the future.

“For the first time in years, Americans have a growing sense of optimism that the housing market is improving, and that these positive changes may be sustainable,” said Margaret Gramann, senior vice president of sales for PulteGroup.

“This favorable outlook is giving them the confidence to pursue more meaningful, big-picture life opportunities they may have otherwise put on hold,” Gramann added.

There are two main drivers to purchasing a home: the need for more space and the view that owning a home is a smart financial investment.

Currently 70% of home shoppers plan to spend as much or more money on their next home, along with 64% of people saying they prefer to spend on a home that’s move-in ready rather than spend less and renovate.

“Whether it’s a first-time or move-up buyer, or an active adult, purchasing a home is a major life decision and Americans are recognizing the importance of maximizing what they view as a long-term investment,” said Gramann. “They’re aiming to create value in a home that meets their specific wants and needs from day one, and if that means spending more money, they’re willing to do so because of confidence in the market.”

And as consumer demand for housing increases, so does the demand for more credit.

For borrowers who already have a home, the demand for home equity lines of credit is increasing.

 

 

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Americans ready to spend money…especially on housing

Let customer feedback shape the evolution of your product and it will sell itself | Armonk Homes

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A lot of companies are started out of frustration, trying to solve a problem that their founders don’t see an available solution for, says Onvedeo founder and CEO Boubou Guiro.

Guiro says that was certainly the case for him. As a would-be homebuyer, the time he squandered visiting properties that weren’t always as they were depicted online convinced him that the solution was a video marketing platformm scalable so that it was affordable enough for every broker and agent to employ on all their listings.

Now he’s passing along the insight he’s gained building the company. He advises his fellow entrepreneurs to keep testing their product, and evolving it based on customer feedback.

“I truly believe the product is going to be the best marketing and the best sales tool you’re going to get,” he says. “If people love your product, you don’t really need to do much after that, besides just making them aware of it.”

 

 

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http://www.inman.com/2014/05/02/let-customer-feedback-shape-the-evolution-of-your-product-and-it-will-sell-itself/?utm_source=20140502&utm_medium=email&utm_campaign=dailyheadlinesam

Super Realtor Man rescues ‘urgent seller’ | Mount Kisco Real Estate

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Erick Motta, owner of Fresno, Calif.-based Home Star, is tired of watching YouTube videos of agents pitching themselves to potential clients.

So to set his brokerage apart, he decided to produce a different kind of promotional video. Motta — the latest winner of Inman News #madREskillz contest – cast himself as Superman.

In the video, Motta soars across Fresno, Calif. to answer the call of a client who must sell her home in 24 hours. The video is a spoof on the viral hit “Superman With a GoPro,” and is designed to showcase Home Star’s expertise with video marketing, Motta said.

Like “Superman with a GoPro,” Motta’s video features what is supposed be first-person footage of a superhero flying through the atmosphere.

The video opens with animation showing a conversation between “Super Realtor Man,” played by Motta, and a damsel in distress, the “urgent seller.” Home Star bought the animation sequence from VideoHive, and filled the dialogue bubbles with original content, Motta said.

“When do you need to sell it by?” Super Realtor Man asks in the video.

“By Friday,” she says — not next week, but tomorrow.

 

 

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http://www.inman.com/2014/05/02/super-realtor-man-rescues-urgent-seller/?utm_source=20140502&utm_medium=email&utm_campaign=dailyheadlinesam

Mortgage Rates average 4.29% | South Salem Real Estate

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Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving down slightly following the release of real GDP estimates for the first quarter.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.29 percent with an average 0.7 point for the week ending May 1, 2014, down from last week when it averaged 4.33 percent. A year ago at this time, the 30-year FRM averaged 3.35 percent.
  • 15-year FRM this week averaged 3.38 percent with an average 0.6 point, down from last week when it averaged 3.39 percent. A year ago at this time, the 15-year FRM averaged 2.56 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.05 percent this week with an average 0.4 point, up from last week when it averaged 3.03 percent. A year ago, the 5-year ARM averaged 2.56 percent.
  • 1-year Treasury-indexed ARM averaged 2.45 percent this week with an average 0.5 point, up from last week when it averaged 2.44 percent. At this time last year, the 1-year ARM averaged 2.56 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quotes
Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

“Mortgage rates were down slightly following the release of real GDP estimates for the first quarter of the year which rose 0.1 percent and fell well short of market expectations. Meanwhile, the pending home sales index rose in March ending eight consecutive months of decline and the S&P/Case-Shiller® 20-city composite house price index rose 12.9 percent over the 12-months ending in February 2014.”

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation’s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Additional information is available at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.