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Real Estate Industry News

Found 20 blog entries about Real Estate Industry News.


Written by Robert H. Ruth

“OK, Mr. Peabody…but what happened in 2007, and why is it important that we go back there now?”

“Well Sherman, 2007 was a pivotal year for the United States Housing Economy, a year in which all hell broke loose due to the impact of grossly overvalued Real Estate which had been driven to unsustainable levels by Subprime Mortgage Loans.”

“What are Subprime Mortgage Loans Mr. Peabody?”

“Not so fast Sherman…first let’s talk about how values in Real Estate have changed on a historical basis.

You see, historically, US home values have increased by an average of 2 ½-3 % yearly, but during the period from 2003-2006 values went up by 20-30% per year.”

“That sounds like a lot of appreciation, Mr. Peabody.”

“You

365 Views, 0 Comments

Written by Robert H. Ruth

What is the State of the Market?

The market is experiencing increasing sales volume fueled by a shortage of inventory. 

  • Current inventory is less than 4 months, 2 months in some metro areas
  • Home price appreciation is up over 6% YTD, and could increase by 10% this year
  • Demand is at the strongest levels since 2012

Factors Influencing Growth

Interest rates are not dramatically increasing as had been expected, but rather, have moderated as has the 10 Yr. Treasury Yield: 

Date

30 Yr. Fixed Rate

10 Yr. Treasury Yield

11/8 election

3.500%

1.93

12/8

4.000

2.40

1/8

3.990

263 Views, 0 Comments


Written by Robert H. Ruth

This is a BIG Deal for Homebuyers in General, Millennial Buyers in Particular

Last week I provided an overview of the scope of the student loan debt situation in America and nowhere is the situation as impactful as when someone with student debt tries to purchase a home. This issue alone has held the housing market back from a truly significant rebound, and is putting the millennial generation behind their parent’s generation in creating wealth for their futures.  

In a recent announcement, Fannie Mae has publicly stated that they intend to be part of the solution by “implementing new policies to help borrowers qualify for a home loan and reduce student debt.”

Here is a link to the official press release by

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Written by Robert H. Ruth

“ Sometimes the path you’re on is not as important as the direction you're heading." - Kevin Smith


In the real estate industry, like many other industries, knowledge is a highly valued commodity.  The generally accepted thinking is that the more time you have in the business, the more knowledge you have amassed, and that cumulative knowledge can be used for the benefit of your clients. This is certainly true.

It is also true that over time you have been a participant in more transactions which gives you a wealth of experience in dealing with a variety of situations. This experience and situational awareness that can only be developed over time can be of tremendous value to clients.

Our industry then, is one

3,568 Views, 0 Comments

Written by Robert H. Ruth

Last week I discussed the impact rising interest rates have on mortgage affordability. As the chart in my article showed, as rates rise, the amount of mortgage that borrowers can obtain with the same payment goes down. Makes sense…as rates drop you can buy more with the same payment and as rates rise the amount you can buy goes down.

But my analysis seemed incomplete; I wanted to dig deeper into this topic and examine the impact interest rate fluctuations have had on mortgage affordability over time. I wanted to give you a greater view of this going back over the last 5 decades.  Here then is a chart of the average 30 Year Fixed Mortgage interest rate by decade starting in the 1970’s to now. The chart

267 Views, 0 Comments

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Mother Nature served up more than just inclement weather during the 2014-2015 Winter season.  As the snow piled up throughout New England we were given insight into a real estate market that would have otherwise been impossible to perceive.  

Reports regarding the absorption of foreclosures and REO’s have been fairly consistent. The inventory is being purchased which in turn is driving supply down as well as months of inventory.  Our economy is feeling a bit healthier and we expect interest rates to rise by the 4th quarter as a reflection.

But WAIT….the latest snow storms showed us that MANY homes are still VACANT & BANK OWNED.  With driveways blocked and paths un-shoveled we were able to get a true glimpse of the housing market.   No one is

2,218 Views, 0 Comments

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“ Sometimes the path you’re on is not as important as the direction you’re heading.” Kevin Smith

In the real estate industry, like many other industries, knowledge is a highly valued commodity.  The generally accepted thinking is that the more time you have in the business, the more knowledge you have amassed, and that cumulative knowledge can be used for the benefit of your clients. This is certainly true.

 

It is also true that over time you have been a participant in more transactions which gives you a wealth of experience in dealing with a variety of situations. This experience and situational awareness that can only be developed over time can be of tremendous value to clients.

 

Our industry then, is one in which knowledge,

3,799 Views, 1 Comment

Zillow acquires Trulia in what could end up the biggest real estate deal ever. Not because of the 3.5 billion in stock price tag though, more has to do with the fact that Zillow now owns over 60% of the online real estate consumer traffic when you add it all up. We already know roughly 95% of buyers start their search online, so when you take that into account when talking about the 60+% what does this mean for the Realtor and buyer/seller relationship?

The real estate consumer in today’s market uses Zillow as their sole source for real estate searches, or something very similar like Trulia or Street Easy in Manhattan; both of which Zillow know owns by the way. Zillow has become the consumer’s MLS. People trust in the listings and trust many times in

4,541 Views, 0 Comments

 

Waterfront Property Experts is the one place you can come every Friday and get in touch with waterfront real estate expert Tim Bray of Seaport Real Estate Group at William Pitt Sotheby's International Realty. Tim will bring the public free and valuable information about the market and what is happening with shoreline homes up and down the coast.

Episode 1 covers the effect of Super Storm Sandy on the waterfront residential home market.

 

Connect with Real Estate Expert Tim Bray:

tbray@seaportre.com

860-912-7137

 Facebook: https://www.facebook.com/SeaportRealE...

https://www.seaportre.com/

 

8,673 Views, 1 Comment

Seaport Real Estate Group of William Pitt Sotheby’s International Realty and two local reputable lenders will be hosting an informal open discussion regarding the current real estate market and if it is the right time to buy, sell, hold or rent. Get answers to your questions and find out if you are eligible for $1,500 towards closing costs and a 10% rebate of the agent’s commission to be paid outside of closing.  Only those individuals attending or registering for this event will be eligible for the rebate and credit.

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This event will be held at Divine Wine at 275 West Main St in Niantic. Ken Turcotte, Owner and wine educator will graciously be hosting and speaking about wines as well.  This deal will only be offered to the first 25 buyers and

10,700 Views, 0 Comments