News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
John McManus / BUILDER / February 9, 2015
It’s time to ask, is the new “starter” home history?
It’s at least an endangered species.
Why? How could such a quintessential bastion of contemporary American housing, the literal deed and doorway from fantasy-land pining to the American dream, fall into question? Entry-level gave meaning to what American society uniquely offered people who “wanted in” on a path to relative wealth, a foot in the door of full-recognition and belonging in communities. Entry-level was the “there” that many people worked and worried and dreamed of getting.Read More
Diana Olick / CNBC.com / January 15, 2013
Mortgage applications jumped sharply last week, as a weaker-than-expected December employment report sent interest rates lower.
Total application volume on a seasonally adjusted basis rose 11.9 percent on the week, according to the Mortgage Bankers Association. Applications to refinance rose 11 percent and applications to purchase a home increased 12 percent, both seasonally adjusted.
The average contract rate for 30-year fixed mortgages with conforming loan balances ($417,000 or less) dropped to 4.66 percent from 4.72 percent. Rates had been rising after the Federal Reserve announcedRead More
Glenn Kelman, CEO of Redfin / The Wall Street Journal / June 26, 2013
“The long-awaited day of reckoning is here,” Chris Farrell wrote in Forbes this week. “The era of historically low interest rates is over.” Mortgage interest rates began to increase in the first week of May, going from 3.35% to the headline-grabbing rate of 4.36% as of Friday.
What happened? Last Wednesday, Federal Reserve Chairman Ben Bernanke announced that if the economy continued to improve, the government would stop buying $85 billion in bonds each month by mid-2014. The stock market lost 3% of its value in three days.
Everyone wants to know how American home buyers will react toRead More
Redfin Bidding War Report Shows Early Signs of a Cooling Real Estate Market in Some Cities While Competition Intensifies in Others
Rachel Musiker / Redfin / May 10, 2013
Seventy-three Percent of Home Offers Faced Competition in April, the Lowest Level this Year
Welcome to Redfin’s latest in real estate analysis—the Bidding War Report. The data for this report are based on Redfin’s Offer Insights, statistics compiled from more than 2,000 offers written each month by Redfin agents for Redfin’s home-buying clients.
In April, 73 percent of the offers Redfin agents wrote faced competition. That percentage, which peaked in February with 79 percent of offers facing competition, has been shrinking for the last two months. The market is undeniably hot,Read More
Susan Johnston / US News & World Report / May 6, 2013
Things are starting to look up for Americans who lost their homes during the recession
For the millions of Americans who lost their homes in a foreclosure or short sale during the recession, things are starting to look up. In addition to receiving a piece of the $3.6 billion settlement that banks are distributing to borrowers who were wrongfully foreclosed on, some homeowners are now becoming “boomerang buyers” and re-entering the market after a foreclosure or short sale.
Neal Katz, a mortgage agent at All Western Mortgage in Las Vegas, says he fields calls from a number of peopleRead More