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Tag Archives: Real Estate Investment

FHA Anti-Flipping Waiver Extended Through 2014

FHA flipping rules

HUD plans to waive the Federal Housing Administration's (FHA) anti-property-flipping rule through December 31, 2014. The agency is extending the temporary waiver that was put into place in January 2010 for another two years to encourage investors to acquire and renovate foreclosed and vacant homes.

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GDP Up 2.7% in Q3, Corporate Profits Grow

Real GDP growth for the third quarter was revised up significantly, the Bureau of Economic Analysis reported Thursday, reaching a 2.7 percent annualized growth. Economists had forecast a 2.8 percent growth rate. The report on GDP was the second of three monthly reports and billed as the ""second estimate."" The report on profits was the first of two and labeled ""preliminary."" Final reports on both will be released December 20.

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October New Home Sales Dip After Downward Revision for September

New home sales barely budged in October, dropping 0.37 percent to 368,000 after September’s report was revised sharply downward from an original 389,000 to 369,000, Census Bureau and HUD reported Wednesday. Economists surveyed by Bloomberg expected the report to show a sales pace of 387,000.

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Case-Shiller Indices Up in September, Momentum Slows

Despite another month of home price improvements, the housing sector stumbled in September as prices fell in five of the 20 cities covered in the monthly Standard & Poor's/Case-Shiller Home Price Index. The 10-city index increased 0.3 percent from August to 158.93, its highest level since September 2010. Meanwhile, the 20-city index rose by the same 0.3 percent to 146.22, also the highest in two years. The national index improved 2.2 percent in the third quarter to 135.67, its highest level since Q3 2010.

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Housing Starts Up in October, Completions Soar

Housing starts rose 3.6 percent in October to a seasonally adjusted annual rate of 894,000, the highest level since July 2008, but permits for new residential construction fell the Census Bureau and HUD reported jointly Tuesday. Housing completions soared in October, up 14.5 percent during the month to 772,000, the highest level since June 2010. The increase in completions was led by a 5.3 percent jump in multifamily completions. Single-family completions in October reached their highest level since June 2010, increasing to 542,000.

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GDP Up 2% in Q3, Beating Forecasts

Led by increases in personal consumption, government spending and residential investment, the U.S. economy grew 2.0 percent in the third quarter, the Bureau of Economic Analysis reported Friday, faster than economists expected and a strong rebound from the 1.3 percent growth rate in the second quarter. Economists surveyed by Bloomberg had expected an increase of 1.9 percent.

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September New Home Sales at 30-Month High

New home sales jumped 5.7 percent in September to a seasonally adjusted average annualized rate of 389,000, the highest rate since April 2010, the Census Bureau and HUD reported Wednesday. The month-to-month sales improvement was the strongest since February, when sales improved 27,000, or 8.0 percent. While sales numbers improved, both the median and average sales price of a new home dropped month-to-month. Sales were still up 27.1 percent from September 2011, the strongest year-over-year gain since February.

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PCV Murcor Debuts Rental BPO Valuation Tool

PCV Murcor is unveiling its newest valuation tool to mortgage industry professionals this week at the Mortgage Bankers Association's 99th Annual Convention in Chicago. It's called Rental Broker Price Opinion (BPO)--a tiered offering that includes a BPO, automated rent estimate (ARE), and an optional reconciled broker opinion of the ARE.

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Existing Home Sales Slip in September, Prices Up Year-over-Year

The housing sector hit a speed bump in September as existing home sales dipped, according to a report from the National Association of Realtors. Existing home sales fell 1.7 percent to a seasonally adjusted annual rate of 4.75 million, the first decline in three months. The median price of an existing home was down 0.5 percent from August to $183,900, but the median price was up 11.3 percent from September 2011, the strongest year-year dollar increase since January 2006.

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Stronger Traffic Boosts Builder Confidence

After jumping 11 points in three months, builder confidence inched up one point in October to 41, remaining at its highest level since June 2006, the National Association of Home Builders (NAHB) reported Tuesday, matching economist expectations. The October boost was due entirely to a surge in homebuyer traffic in October, as other elements of the index were flat from September.

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