Relevant News Links: Friday, June 5th

“The first step in the acquisition of wisdom is silence, the second listening, the third memory, the fourth practice, the fifth teaching others.” — Solomon Ibn Gabriol

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Home Prices Rose by 6.8 Percent Year Over Year in April 2015
On a Month-Over-Month Basis, Home Prices Increased by 2.7 Percent in April.
http://www.corelogic.com/about-us/researchtrends/home-price-index-report.aspx?WT.mc_id=crlg_150602_k8Jnw&elq=5b684db3fca948ac955954f33023571f&elqCampaignId=1846&elqaid=6616&elqat=1&elqTrackId=a7b25c33f28d494493dd1461d86a9512

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Pending home sales rise to highest in nine years in April
Pending home sales rose in April for the fourth straight month and reached their highest level in nine years, according to the National Association of Realtors.
http://www.housingwire.com/articles/34021

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3 Strategic Moves for Competitive Home Buyers
If you’re a prospective home buyer who has been making offers for many months without being accepted, it’s time to up your game. After all, while making lots of offers helps you learn about the market, the goal is to actually purchase a home, right?
http://www.zillow.com/blog/strategic-moves-competitive-buyers-177184/

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How to Become a Better Landlord By Honing Your Influence & Persuasion Powers
5 principles from his book The Psychology of Persuasion and how you can use them to be a more effective landlord.
http://www.biggerpockets.com/renewsblog/2015/05/27/better-landlord-influence-persuasion-powers/

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CFPB Takes First Steps Toward Greater Clarity on RESPA-TILA Integrated Disclosure Enforcement
“The action announced today by the CFPB is a welcome first step toward clarifying the changes coming to real estate closings August 1. NAR appreciates the “sensitivity” offered by the CFPB to companies making a good-faith effort to comply with the new TILA-RESPA Integrated Disclosure regulation
http://www.realtor.org/news-releases/2015/06/cfpb-takes-first-steps-toward-greater-clarity-on-respa-tila-integrated-disclosure-enforcement

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Rent or Buy: 5 Questions Consumers Should Ask Themselves
During American Housing Month in June, the American Bankers Association Foundation is reminding consumers that their local banker can help navigate challenges associated with choosing a home, including deciding what is affordable and whether to rent or buy.
http://www.aba.com/Press/Pages/060315RentorBuyHousingMonth.aspx

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10 most overpriced housing markets
Real estate prices in these cities are well above pre-recession levels, according to real estate investment firm West Realty Advisors.
http://money.cnn.com/gallery/real_estate/2015/06/05/overvalued-housing-markets/index.html

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Elderly could lose homes from reverse mortgages
Tell grandma not to believe those ads about reverse mortgages that promise free money.
http://money.cnn.com/2015/06/05/real_estate/reverse-mortgage-ads/index.html

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More Easing for AD&C Lending Conditions
Builders and developers continue to report easing credit conditions for acquisition, development, and construction (AD&C) loans according to NAHB’s survey on AD&C financing.
http://eyeonhousing.org/2015/06/more-easing-for-adc-lending-conditions/

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Rates on New Home Loans Stable, Under 4 Percent
On May 28, the Federal Housing Finance Agency (FHFA) reported that mortgage rates overall were nearly stable in April, changing by a mere 2 basis points.
http://eyeonhousing.org/2015/06/rates-on-new-home-loans-stable-under-4-percent/

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Housing Recovery – Prices and Production
The Federal Housing Finance Agency (FHFA) and the Standard and Poor’s/Case-Shiller recently released the Home Price Index (HPI) for March
http://eyeonhousing.org/2015/06/housing-recovery-prices-and-production/

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Mortgage Debt Outstanding: Using “Scissors” to Cut the Data
According to the Federal Reserve Bank of New York’s latest Household Debt and Credit Report, total household debt outstanding rose by $24 billion, 0.2%, between the fourth quarter of 2014 and the first quarter of 2015.
http://eyeonhousing.org/2015/06/mortgage-debt-outstanding-using-scissors-to-cut-the-data/

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Swimming pools under attack in drought-hit California
Residential swimming pools are coming under attack in drought ravaged California. The state has mandated a reduction in water consumption by 25 percent due to a severe four-year drought, and some cities are pointing the finger at pools as big water wasters, The Seattle Times reports.
http://www.seattletimes.com/business/pool-peddlers-tout-water-savings-in-california-drought/

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What to do about housing affordability?
Buying or renting in the Seattle area is getting ever more pricy? But can anything be done? You get to have your say.
http://www.seattletimes.com/business/economy/vote-what-to-do-about-housing-affordability-jon-talton/

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Average US rate on 30-year mortgage stays at 3.87 percent
Average long-term U.S. mortgage rates were flat to slightly lower this week, remaining near their highest levels so far this year.
http://www.seattletimes.com/business/real-estate/average-us-rate-on-30-year-mortgage-stays-at-3-87-percent/

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Owners tend to overvalue homes | Nation’s Housing
A new statistical study, published in the Journal of Housing Economics, found that homeowners on average “overestimate the value of their properties by about 8 percent.”
http://old.seattletimes.com/html/realestate/2026398864_bizharney31xml.html?syndication=rss

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This executive coach used podcasting to boost her brand — and her bottom line
In 2011, Farnoosh Brock began producing a weekly podcast called “The Daily Interaction” about how to be a better communicator.
http://www.bizjournals.com/portland/bizwomen/news/profiles-strategies/2015/06/this-executive-coach-used-podcasting-to-boost-her.html

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No surprise here: Portland home prices continue to climb
Ask just about anyone involved in Portland’s residential real estate market — Realtors, lenders, frustrated prospective buyers and gleeful sellers — and there’s no surprise here: Home prices in April were up 7 percent compared to the same month last year.
http://www.bizjournals.com/portland/blog/real-estate-daily/2015/06/no-surprise-here-portland-home-prices-continue-to.html?iana=ind_rre

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Home that LaMarcus Aldridge rents hits the market for $1.4M
A media firestorm erupted in Portland Thursday when it was revealed that Trail Blazers All-Star forward LaMarcus Aldridge had put his West Linn house on the market.
http://www.bizjournals.com/portland/blog/real-estate-daily/2015/06/home-that-lamarcus-aldridge-rents-hits-the-market.html

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Five Midcentury Homes for Interiors Inspiration
Take a tour of these classic residences, including Modernist designer Eileen Gray’s 1929 villa, now open to the public after years of restoration.
http://www.wsj.com/articles/five-midcentury-homes-worth-touring-for-interiors-inspiration-1433443379

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Brooklyn Metal Sculptor Vallessa Monk Plays With Fire
Armed with four welding machines, a plasma cutter, anvil and tools for bending, texturing and hammering, Vallessa Monk sculpts home décor from bronze and steel.
http://www.wsj.com/articles/brooklyn-metal-sculptor-vallessa-monk-plays-with-fire-1433430584

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Title Insurance: A Friend in Deed
Title insurance protects mortgage lenders and borrowers in disputes over ownership of a property
http://www.wsj.com/articles/title-insurance-a-friend-in-deed-1433343997

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New-Home Buyers’ Wish List: More Bedrooms, Bathrooms, Patios
46% of single-family homes constructed last year had four or more bedrooms, up from 44% in 2013 and from 34% in 2009. Thirty-six percent of the homes built last year had three or more bathrooms, up from 33% in 2013.
http://blogs.wsj.com/developments/2015/06/03/new-home-buyers-wish-list-more-bedrooms-bathrooms-patios/

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NAR Member Survey Reveals Slight Dip in Realtor® Business in 2014
After gradually climbing for three consecutive years, the decline in existing-home sales in 2014 resulted in a slight reduction in Realtor® business activity and income last year, according to the 2015 National Association of Realtors® Member Profile.
http://www.realtor.org/news-releases/2015/06/nar-member-survey-reveals-slight-dip-in-realtor-business-in-2014

Download the Profile: http://www.realtor.org/reports/member-profile Requires member login.

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2015 Q1 Local Market Reports
Find out the latest about jobs, foreclosures, inventory, and debt-to-income ratios in your state’s metropolitan housing markets.
Requires member login.
http://www.realtor.org//reports/local-market-reports

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NAR: “Marginal agents” are a threat to realtors
The No. 1 threat to real estate professionals is other agents, according to the National Association of Realtors’ newly released “Danger Report”. The threat falls ahead of other pressing issues such as declining commissions, dwindling relevance, or a repeat housing crisis. Requires member login.
https://store.realtor.org/product/report/danger-report?sku=135-107

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The MarketPulse
The MarketPulse provides monthly insight into the current and future health of the U.S. economic climate with particular focus on housing and mortgage metrics
http://www.corelogic.com/about-us/researchtrends/the-marketpulse.aspx#.VNVmOPmjNpU

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HOUSING STATISTICS
Housing Statistics offers 43 different sets of data, downloadable either as Excel or PDF files (updated weekly). Housing data and primary indicators of the industry are housed in one easy-to navigate location containing historical and current sets of statistics such as: Housing Starts (by Region & Structure Type), Homes Sold by Region, Producer Price Indexes (for Building Materials), Manufactured Homes, New Home Characteristics, Residential Vacancy & Absorption Rates, Units Under Construction, Value of New Construction, and many more.
http://www.nahb.org/reference_list.aspx?sectionID=819&channelID=311

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Bureau of Economic Analysis
U.S. Economy at a Glance
http://www.bea.gov/index.htm

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U.S. Housing Market Tracker
The U.S. housing market has struggled to find equilibrium after the bubble of the past decade. Here’s a look at where various gauges of supply and demand stand today.
http://graphics.wsj.com/us-housing-market/

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Mortgage Market Survey Archive
Compilation of Weekly Survey Data for 2015
http://www.freddiemac.com/pmms/archive.html

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