¡El inventario de ejecuciones hipotecarias bajo un 37% respecto al año pasado!

Foreclosures Down 37% From Last Year | Keeping Current Matters

De acuerdo con el último Informe Nacional de Ejecuciones Hipotecarias de CoreLogic, “Aproximadamente 660,000 casas en los Estados unidos estaban en algún estado de ejecución hipotecaria hasta mayo 2014”. Esta cifra está un 37% por debajo del millón de casas en mayo de 2013. Mayo marco el mes 31 consecutivo en el que hubo descenso año tras año.

Mark Felming Chief Economista para CoreLogic revelo:

“Una ganancia significativa se ha efectuado en el último año para reducir la acción de ejecución hipotecaria. Sin embargo, estas mejoras están ocurriendo desproporcionadamente en estados no-judiciales. El promedio del inventario de ejecuciones hipotecarias en estados judiciales del 2.1%, es más del doble del promedio de 0.9% que está ocurriendo en estados no-judiciales.”

El proceso de ejecución hipotecaria en veintidós estados judiciales puede tomar, en promedio, entre 180-400 días según la Asociación de Banqueros Hipotecarios. La falta de intervención de la corte al comienzo en los estados no-judiciales, a menudo significa que el proceso de la ejecución hipotecaria tomara significativamente menos tiempo.

Por lo tanto, los estados judiciales en general, han tomado más tiempo para alcanzar al resto del país en la liquidación del inventario de ejecuciones hipotecarias.

Todos los cinco estados con alto inventario de ejecuciones hipotecarias como porcentaje de casas hipotecadas son estados judiciales.

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De la lista de los cinco estados con bajo inventario, solo Dakota usa un proceso judicial.

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En conclusión

Aunque algunos estados no se han recuperado totalmente de la crisis hipotecaria, la nación en conjunto está en el camino correcto a medida que el inventario disminuye.

¿Vendiendo su casa? ¡5 Razones para vender ahora!

Selling Your House? 5 Reasons to Do It Now! | Keeping Current Matters

Muchos vendedores aun dudan si poner su casa para la venta. ¿Adónde se dirigen los precios? ¿Hacia dónde van las tasas de interés? ¿Pueden los compradores calificar para una hipoteca? Todas estas son preguntas válidas. Sin embargo, hay varias razones para vender su casa en vez de esperar. Aquí hay cinco de estas razones:

1. La demanda está fuerte

Actualmente hay una demanda acumulada de compradores ya que muchos compradores dejaron la búsqueda el invierno pasado y a comienzo de la primavera debido a las condiciones climáticas extremas. De acuerdo con la Asociación Nacional de Realtors (NAR por sus siglas en ingles) El número de compradores en el mercado, cayó dramáticamente en diciembre, enero y febrero, ha empezado a aumentar durante los últimos meses. Estos compradores están listos, dispuestos y en capacidad de comprar… y ¡están ahora en el mercado!

2. Hay menos competencia ahora

El suministro de la vivienda está aún por debajo del número histórico del suministro de 6 meses. Esto significa que, en muchos mercados, no hay suficientes casas para la venta para satisfacer la cantidad de los compradores en ese mercado. Esta es una buena noticia para los precios de las casas. Sin embargo, el inventario adicional está a punto de llegar al mercado.

Hay un deseo reprimido de muchos propietarios de casas de mudarse, debido a que no podían vender durante los últimos años por el valor líquido negativo. Los propietarios están ahora viendo el regreso del valor líquido positivo a medida que los precios han aumentado durante los últimos dieciocho meses. Muchas de estas casas llegaran al mercado en el futuro cercano. También, las nuevas construcciones de las viviendas unifamiliares esta nuevamente comenzando a aumentar. Un estudio reciente por Harris Poll revelo que 41% de los compradores prefieren comprar una casa nueva mientras que solo 21% prefieren una casa ya existente (38% no tiene preferencia).

Las opciones que tienen los compradores seguirán aumentando durante los próximos meses. No espere hasta que todo este otro inventario de casas llegue al mercado antes de que usted venda.

3. El proceso será más rápido

Uno de los mayores desafíos del mercado de la vivienda de 2014 ha sido la cantidad del tiempo que tarda desde el contrato al cierre. Los bancos exigen más y más papeleo antes de aprobar una hipoteca. Mientras el mercado se calienta, los bancos serán inundados con preguntas sobre los préstamos haciendo que el plazo para el cierre se alargue. Vender ahora hará el proceso más rápido y sencillo.

4. Nunca habrá un mejor momento para mudarse a algo más grande

Si se está mudando a una casa más grande, más costosa, considere hacerlo ahora. Los precios están proyectados para apreciar en más del 19% desde ahora hasta el 2018. Si se está mudando a una casa con precio más alto, Lo hará costándole más en dólares en bruto (ambos en la cuota inicial y el pago de la hipoteca) si usted espera. Usted puede también bloquear los gastos de vivienda a 30 años con las tasas de interés en los bajos 4 porciento. Las tasas están proyectadas para ser más del 5% en próximo año.

5. Es hora de continuar con su vida

Vea la razón por la que usted decidió vender en primer lugar y decida si vale la pena esperar. ¿Es el dinero más importante que estar con su familia? ¿Es el dinero más importante que su salud? ¿Es el dinero es más importante que tener la liberta de seguir con su vida de la forma que usted quiere?

Solo usted sabe la respuesta a estas preguntas. Usted tiene el poder de retomar el control de la situación de poner su casa en el mercado y el darle un precio que garantice su venta. Tal vez, ha llegado el momento para que usted y su familia sigan adelante y empiecen a vivir la vida que usted desea.

Eso es lo que es realmente importante.

Millennials: How Many are Actually ‘Living with their Parents’

Millennials: Millennials: How Many are Actually ‘Living with their Parents’ | Keeping Current Matters

Every day we are pleasantly surprised with the research coming forward regarding the Millennial generation. Whether it was the over-exaggeration of the student debt challenge, the misbelief that they are not yet ready to buy or the under estimation of their actual home purchases, evidence is beginning to debunk the myths many have held about this generation and homeownership. Now, one more strongly held belief is being questioned.

Do Millennials Live in their Parents Basements?

It seems not as many as once was reported. Our friends at Calculated Risk (CR) alerted us to a post by Derek Thompson in the Atlantic: The Misguided Freakout About Basement-Dwelling Millennials. The article explains that according to the Census Reports:

“It is important to note that the Current Population Survey counts students living in dormitories as living in their parents’ home.”

What?!? If you live in a college dorm, the census counts you as living with your parents. Thompson has some fun with this when he explains:

“When you were adjusting to your freshman roommate, you were ‘living with your parents’. When you snagged that sweet triple with your best friends in grad housing, you were ‘living with your parents’. That one time you launched butt-rattling bottle rockets at the stroke of midnight off your fraternity roof? I hope you didn’t make too much noise. After all, you were ‘living with your parents’.”

The data is “Criminally Misleading”

According to Thompson, the counting of those living in college dorms as living with their parents is “criminally misleading”. He explains that part of the increase in these numbers is actually attributed to the fact that more people are attending college:

“[T]he share of 25- to 29-year-olds with a bachelor degree has grown by almost 50 percent since the early 1980s. More than 84 percent of today’s 27-year-olds spend at least some time in college and now 40 percent have a bachelor’s or associate’s degree. More young people going to school means more young people living in dorms, which means more young people ‘living with their parents’, according to the weird Census.”

Thompson then goes on to reveal that:

“[T]he share of 18-to-24-year-olds living at home who aren’t in college has declined since 1986. But the share of college students living “at home” (i.e.: in dorms, often) has increased.

So the Millennials-living-in-our-parents meme is almost entirely a result of higher college attendance.” (emphasis added)

The Other Side of the Argument

However, Trulia’s chief economist Jed Kolko, doesn’t totally agree. In a post in response to the Thompson article, Kolko explains:

“The Current Population Survey’s (CPS) Annual Social and Economic Supplement (ASEC) counts college students who are living in dorms as living with their parents, and college enrollment has indeed gone up. But it does not follow that basement-dwelling millennials are a myth. The ASEC and other Census data show that after adjusting for college enrollment and for dormitory living, millennials were more likely to live with parents in 2012 and 2013 than at any other time for which a consistent data series is available.”

Bottom Line

There are more Millennials living with their parents than ever before. However, the numbers being quoted by some seem to be exaggerated.

How Much of a Down Payment Do You Actually Need?

How Much of a Down Payment do You Actually Need? | Keeping Current Matters

A recent survey by Zelman & Associates revealed that 38% of those between the ages of 25-29 years old and 42% of those between the ages of 30-34 years old believe that a minimum of 15% is required as a down payment to purchase a home. A recent questionnaire administered by Freddie Mac showed that over 50% of all respondents thought 20% was required as a down payment.

In actuality, a purchaser may be able to put down far less.

Freddie Mac, in a recent blog post addressing the issue, confirmed that there is misinformation regarding the amount necessary when determining the down payment for a home purchase:

“Did you know 40 percent of today’s homebuyers using mortgage financing are making down payments that are less than 10 percent? And how about this: since 2010, the number of people putting down less than 10 percent for conventional loans has grown three fold.  So, not only are low down payment options real, they represent a significant portion of today’s purchases.”

In a separate Executive Perspectives, Christina Boyle, Freddie Mac’s VP and Head of Single-Family Sales & Relationship Management explained further:

  • A person “can get a conforming, conventional mortgage with a down payment of as little as 5 percent (sometimes with as little as 3 percent coming out of their own pockets)”.
  • Qualified borrowers can further reduce the down payment coming out of their own pockets to 3 percent by lining up gifts from family or grants or loans from non-profits or public agencies.

Ms. Boyle goes on to explain:

“Letting more consumers know how down payments are determined could bring more qualified borrowers off the sidelines. Depending on their credit history and other factors, many borrowers can expect to make a down payment of about 5 or 10 percent.”

Bottom Line

If you are saving for either your first home or that perfect move-up dream house, make sure you know all your options. You may be pleasantly surprised.

Home Mortgage Rates: Where are They Headed?

Home Mortgage Rates: Where are They Headed?

Many readers have asked where interest rates are headed over the next several months. While no one has a crystal ball, we did want to share what some experts are saying on the subject.

HSH.com

“For now, and likely through the summer, we may see data-driven bumps and dips in rates. Although we managed a slight dip presently, a bump is in order before long.”

Freddie Mac

“In the next few months, mortgage rates are likely to remain at their current, low level, but will not remain there for long. As the Federal Reserve is expected to ‘taper’ its purchases of long-term Treasuries and mortgage-backed securities, and as economic growth picks up, long-term yields will gradually rise. Fixed-rate mortgages are expected to be higher in six months, and may even approach 5 percent a year from now.”

National Association of Realtors

“Mortgage rates could move suddenly higher in anticipation of rate increases, much as they did last summer when refinance and transaction activity was high. Steady purchase transaction volume and lower refinance volume could mean that mortgages rates may adjust in a more gradual fashion. In either case, as the economy improves—and today’s data clearly suggests it is improving—the overall trend for mortgage rates is up, not down.”

Fannie Mae

Projects the 30 year fixed mortgage rate to be 4.3% by the end of the year.

Mortgage Bankers Association

Projects the 30 year fixed mortgage rate to be 4.7% by the end of the year.

13,397 Houses Sold Yesterday!

13,397 Houses Sold Yesterday! | Keeping Current Matters

If you read certain headlines, you might be led to believe that the housing recovery has come to a screeching halt. Naysayers are claiming that the threat of rising mortgage rates and a lack of consumer confidence are keeping Americans on the fence when it comes to purchasing real estate. That is actually far from reality. After all 13,397 houses sold yesterday, 13,397 will sell today and 13,397 will sell tomorrow.

13,397!

That is the average number of homes that sell each and every day in this country according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. According to the report, annualized sales now stand at 4.59 million. Divide that number by 365 (days in a year) and we can see that, on average, over 13,000 homes sell every day. If you are considering whether or not to put your house up for sale, don’t let the headlines scare you. There are purchasers in the market and they are buying – to the tune of 13,397 homes a day.