March was a stellar month for housing starts with numbers touching an almost five-year high. Beginning construction of new homes skyrocketed to 1.4 million, making the industry dizzy with excitement. But, the momentum is slowing down a bit. That’s an expected trend and shouldn’t be a cause of worry. Housing starts fell to a 970,000 annual rate in April. Bloomberg says it’s an indication that work on apartment buildings is slowing down. . . .
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The metamorphism from her birth in Pittsburg to a childhood spent in Colorado to her residency in a secluded enclave on the tip of the Big Island of Hawaii created not only one of the island’s leading real estate agents, but a bit of a renaissance woman as well. Beth Thoma Robinson, broker/agent with Hawaii Life, got her undergraduate degree in mathematics from the University of Colorado. From there she worked for the . . .
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The average rate on 30-year home loans rose slightly to 3.42 percent this week, according to mortgage giant Freddie Mac. Last week, it was 3.35 percent. Rates on the shorter term 15-year loan also inched up to 2.61 percent. Two weeks ago, it had hit a record low. Despite the slight increase this week, rates are still at historic lows. Last November, rates on 30-year loans dropped to 3.31 percent, the lowest on record since 1971 when Freddie Mac began tracking rates. . . .
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From lawyers to news anchors, real estate agents typically enter the business after finding success in another field. St. Augustine, Fla. agent Peggy Gachet worked with Delta Airlines for 16 years, starting in customer service and ending up in sales and marketing. You know how sometimes you’ll see a product prominently displayed in a TV show or movie? It was Gachet’s job to get those placements for Delta Airlines. . . .
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President Obama has nominated longtime Rep. Mel Watt (D-N.C.) to head the Federal Housing Finance Agency, the organization responsible for administering Fannie Mae and Freddie Mac. Watt has long been an advocate for various affordable housing initiatives in Congress. DeMarco, who had been the agency’s acting director since 2009, had been coming under increasing fire from Democrats for resisting calls to cram down mortgage balances. . . .
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Even though things are looking up for the housing market, many believe there’s still some ways to go. A new Rasmussen Reports national telephone survey found that 47 percent of Americans believe it will take more than three years for prices to recover to pre-bust levels. This is the second consecutive month when numbers dipped below the 50 percent mark, but it does reflect more optimism than what was recorded in mid-2010. Of those surveyed . . .
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Over the last few years the real estate market has definitely been struggling on the road toward “recovery.” Although people are waiting anxiously for the real estate market to return to “normal” (aka the real estate market of 2006), more than likely this state of normal is not going to occur. . . .
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October 29, 2012 is a date no Rockaway resident will ever forget. That’s the day Hurricane Sandy descended on this 11-mile sliver of peninsula in Queens. One of the storm’s hardest hit communities, whether The Rockaways will ever be the same is open to much speculation by locals. One of those working hard to ensure the community’s revival is Robin Shapiro, owner/broker of Robin Shapiro Realty. With many homes damaged beyond repair, . . .
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Here’s some much needed relief for buyers. Home prices, which were on an accelerated climb, have slowed down their momentum in the first quarter. With mortgage rates still hovering at the bottom, now may really be the time for buyers to take the plunge. As the economy improves, prices and rates are expected to rise. . . .
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The Obama administration has forwarded its 2014 budget request to Congress – two weeks late, and it has big ramifications for housing. The top line figures, including all on-budget federal spending, add up to $3.77 trillion in total spending. The deficit, according to the president’s own proposal, will add up to $744 billion. Boiling things down to the housing budget, the president is asking for $47.6 billion for the . . .
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