Daily Real Estate News | Tuesday, May 15, 2012… Housing affordability conditions for all buyers reached a milestone in the first quarter, according to the National Association of REALTORS®.

NAR’s composite quarterly Housing Affordability Index rose to a record high of 205.9 in first quarter, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power. This is the first time the quarterly index broke the 200 mark; recordkeeping began in 1970.

NAR President Moe Veissi said market conditions are optimal for home buyers. “For those with good credit, we’ve never seen better housing affordability conditions or market opportunities than we see at present,” he said. “Although home prices are stabilizing and sales are rising, some buyers still have to jump through a lot of hoops to convince a lender that they are creditworthy, even for a mortgage that would be well within their means. This is especially true for self-employed buyers.”

Veissi noted home sales would be much higher if lending standards would return to normal.

The index shows the median-income family, earning just under $61,000, could afford a home costing $325,500 in the first quarter, which is more than double the national median existing single-family home price of $158,100. The median monthly mortgage principal and interest payment for a median-priced home would take only 13.5 percent of gross income.

A companion index measuring the ability of first-time buyers to purchase a home also set a record, with the first-time buyer index reaching 135.8 in the first quarter.

Assumptions for the first-time buyer index include a lower income, at 65 percent of median family income, a starter home costing 85 percent of the median price, and a down payment of 10 percent. This index means the typical entry-level buyer could afford a home costing $182,500, which is well above the overall median price.

“It’s never been easy to buy a first home because of the cash required for down payment and closing costs, but conditions for first-time buyers who are able to get a mortgage have never been better,” Veissi explained.

Most first-time buyers choose a loan with a lower down payment, often an FHA-insured loan with 3.5 percent down, and some use the VA program with no down payment.

Both home prices and mortgage interest rates are expected to edge up modestly as the year progresses, but housing affordability will remain very favorable with the median-income household well positioned to afford a median-priced home. For all of 2012 the index is projected to set an annual record, averaging 191 for the year.

Source: National Association of Realtors (NAR) | Blog distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

:::::: :::::: Guest Author: Kenneth Bargers is a REALTOR® serving the Greater Nashville Area and Middle Tennessee. To learn more about Kenneth and his background, please visit www.bargers-solutions.com.

Following is a market snapshot for the Greater Fort Lauderdale / Broward County housing market, comparing April 2011 with April 2012:

• The number of homes listed for sale decreased 30% (14,046 vs. 9,745).
• The price of homes sold increased over 20% ($173,000 vs. $208,000).
• The number of homes sold decreased 11% (2,604 vs. 2,309), which is consistent with the reduced number of homes listed for sale.
• The number of homes pending sale (under contract) increased 16% (3,077 vs. 3,646).
• The average amount of days a home was listed for sale is down 9.6% (94 days vs. 85 days), which means the time to sell a home is improving.

Since inventory levels are decreasing and home prices are increasing, does that mean it’s too late to get your piece of paradise?  Absolutely not!

There are many wonderful homes (and deals) listed for sale in Greater Fort Lauderdale, including popular, gay-friendly neighborhoods like Wilton Manors, Oakland Park, Victoria Park, Fort Lauderdale Beach and the Las Olas area in Downtown Fort Lauderdale.  From waterfront homes to high-rise condos and everything in between, there are lots of luxury homes for sale in Fort Lauderdale.

Whether you’re buying a second home or primary residence, you’re sure to find something that suits your needs and tastes in Fort Lauderdale.  Plus, you’ll likely feel you’re on holiday every day you’re here!

This guest blog post is courtesy of the Luxury Living Fort Lauderdale group.  We enjoy helping clients buy, sell or rent fabulous homes in Greater Fort Lauderdale.

NASHVILLE, Tenn. (May 9, 2012), GNAR – There were 2,186 home closings reported for the month of April, according to figures provided by the Greater Nashville Association of REALTORS®. This represents an increase of 25 percent from the 1,747 closings reported for April 2011.

Year-to-date closings are also up compared to 2011 with 7,041. That is a 24.5 percent increase compared to the 5,655 closings reported through April 2011.

“Total sales are the best we’ve seen since June 2010, which was the initial deadline for the First Time Buyer Tax Credit,” said GNAR President Kendra Cooke. “While some of the increase can be attributed to normal seasonal trends, the high number of closings is a clear indication that the real estate market in this region is showing significant improvement. The continuation of historically low interest rates, increasing economic confidence and increasing rental rates are all factors having a positive impact on real estate sales.”

There were 2,436 sales pending at the end of the month, compared to the 1,909 pending sales at this time last year. The average number of days on the market for a single-family home was 88 days.

The median residential price for a single-family home during April was $165,120 and for a condominium it was $141,190. This compares with last year’s median residential and condominium prices of $159,070 and $148,000, respectively.

Inventory at the end of April was 19,622, down from 22,297 in 2011.

“Inventory is down, but with overall inventory at a 9-month supply and residential inventory at a very balanced 6.5-month supply. Right now, sellers will want to be sure their homes are well-prepared for showing. While market activity is increasing, buyers are very focused on properties they visit being clean and fixed-up if they are going to seriously consider making a purchase.” added Cooke.

The Greater Nashville Association of REALTORS® is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR® is a registered trademark that may be used only by real estate professionals who are members of the National Association of Realtors and subscribe to its strict code of ethics.

Source: Greater Nashville Association of REALTORS® (May 9, 2012) | Blog distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

:::::: :::::: Guest Author: Kenneth Bargers is a REALTOR® serving the Greater Nashville Area and Middle Tennessee. To learn more about Kenneth and his background, please visit www.bargers-solutions.com.

Patricia Love,  Realtor ®  @ Century 21 Desert Hills Realty 2010 LTD. ® TM
867 Victoria Street     Kamloops, BC  V2C2B7
Cell: 250-319-9448   Office: 250-377-3030  Fax: 250-377-3099  Email: patricia.love@century21.ca
Or
Check out my two Web sites  www.patricialoverealestate.com
www.patricialovekamloops.com

Hello from Texas!  Dallas is a great city for GLBT home owners.  Here’s an update about our markets from the Texas Association of Realtors:

“The Texas housing market gained positive momentum in the first quarter of 2012, according to the 2012-Q1 edition of the Texas Quarterly Housing Report.  Here are some highlights from the report:

From January through March 2012, the volume of single-family home sales in Texas was 45,502, 12% more than the same quarter in 2011. The median price for Texas homes during the quarter was $147,100, 2.7% more than 2011-Q1.

Months inventory decreased from 7.6 months statewide in 2011-Q1 to 6.0 months in the first quarter of this year. Economists at the Real Estate Center at Texas A&M University say that 6.5 months of inventory represents a balanced market. The 21% drop in housing stock could mean demand is starting to overtake supply and Texas home prices are about to rise again.”

Bob McCranie Texas Pride Realty – Broker / Owner 972-754-0582 cell Bob@BobMcCranie.com

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Texas Pride Realty

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Daily Real Estate News | Wednesday, May 02, 2012… After a slowdown in corporate moves the past few years, more companies are planning to get their employees moving, according to a new survey.

Twenty-six percent of companies plan to relocate more workers this year than last year, according to the 2012 Corporate Relocation Survey, conducted by Atlas Van Lines.

The top places for corporate moves is the Northeast (42 percent), followed by the Midwest (37 percent), South (31 percent), and the West (26 percent).

The Atlas Van Lines survey also found that:

• 86% of companies plan to spend as much or more on relocation in 2012 than in 2011.
• More companies are also now offering relocating employees full reimbursement, not just lump sum or partial reimbursement.
• 52% of all relocations last year were for new hires.
• The most frequently moved employees in 2011 are employees aged 36-40.

Some Employees Decline to Move:

• In 2011, 57 percent of companies say that employees declined a relocation. The top reasons that employees said they did not want to relocate:
• Housing and mortgage concerns: 71%
• Family issues/ties: 64%
• Personal reasons: 42%

Source: Daily Real Estate News (article Wednesday, May 02, 2012); Atlas Van Lines, 2012 Corporate Relocation Trends | Blog distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

:::::: :::::: Guest Author: Kenneth Bargers is a REALTOR® serving the Greater Nashville Area and Middle Tennessee. To learn more about Kenneth and his background, please visit www.bargers-solutions.com.

Janice chose real estate as her second career a few years back, and once she became involved in the Albany real estate market, she was hooked. She really enjoys being a full time Realtor, and she will give her clients her time, her boundless energy, and her real estate skills.

Janice has been a homeowner in the Riviera Estates in Latham for close to twenty years, and has two beautiful children who have attended the North Colonie School District. She loves the Capital District and the neighboring communities – it’s a terrific place to live, for raising a family, or for retiurement. She knows the area inside and out, and would love to help you find your dream home.

If you’re planning to buy or sell a home in the Albany real estate market, you need to be confident in your real estate agent, and Janice promises to give you the best real estate service. When you understand the real estate process, you can make better decisions, and Janice will keep you up-to-date on the latest trends in the Albany real estate market.

See Janice’s Expanded Listing on Gay Realty Network Here

Gay Friendly Realtors and Real Estate Professionals in New York

The numbers also show housing inventory continued to shrink, along with the amount of time homes stayed on the market before a sale. The median sales price increased by 6.4 percent from the previous March to $149,000. Homes spent an average of 144 days on the market — a drop of 10 percent.

Andy Fazendin, president-elect of the Minneapolis Area Association of Realtors, said the rise in home prices should lure more sellers into the market. “This is a pretty important moment just to make up a little ground as far as the price increase goes,” he said.

At Gay Realty Watch, we look for news to share with you about the gay real estate market – both lgbt real estate news and news specific to gay and lesbian real estate meccas.

Full Story from MN Public Radio

Click here for gay realtors, mortgage lenders, and other real estate professionals in Minnesota.

If you have a gay real estate story that you’d like to share with us, contact us at info@gayrealtynetwork.com

As WBBM Newsradio’s Regine Schlesinger reports, the head of the Illinois Association of Realtors says the latest figures suggest the housing market has turned the corner in Chicago and across the state.

“I haven’t seen the real estate business this busy since five years ago, when we started going down,” said association president Loretta Alonzo, a real estate agent in LaGrange Park.

At Gay Realty Watch, we look for news to share with you about the gay real estate market – both lgbt real estate news and news specific to gay and lesbian real estate meccas.

Full Story from CBS Local

Click here for gay realtors, mortgage lenders, and other real estate professionals in Illinois.

If you have a gay real estate story that you’d like to share with us, contact us at info@gayrealtynetwork.com