Don Dutton's Blog

Buying Cheaper Than Rent

Zillow: Buying Beats Renting in 64% of Metros After 3 Years Buying a home is more affordable than renting in nearly two-thirds of metros after three years of paying for a mortgage, according Zillow. For its calculation, Zillow considered costs associated with buying and renting, such as upfront...

Trula Dismisses Bubble Worries

Trulia: Home Price Recovery Not Shaping into Another Bubble   While home prices are rising today nearly as fast as they did during the peak bubble years of 2005 and 2006, Trulia reassures “bubble-phobes” that they can rest easy in its latest report. The company tossed its two...

Price Growth through 2017

Industry Experts Predict Price Growth into 2017 If projections hold out, home values will rise 22 percent cumulatively by the end of 2017, according to Zillow’s first-quarter Home Price Expectations Survey. For its report, Zillow and Pulsenomics surveyed a nationwide panel of 118 economists,...

Home Prices Heading Up

Capital Economics Revises Home Price Forecast Upward Strong demand and tight inventory have brought existing home sales back to “normal” levels, and further gains are possible, according to the latest market report from Capital Economics. Additionally, market conditions may prompt lenders...

Strong Spring Market Predicted

CoreLogic: Prices Up 9.7%; Market Poised for Strong Spring Season Unhindered by winter weather, the home price recovery pressed on in January as CoreLogic’s home price index (HPI) rose nearly 10 percent year-over-year. When including distressed sales, January prices were up 9.7 percent from...

Buyer Frustration with Low Inventory

Survey: Inventory Shortage Frustrates Buyers Prospective homebuyers are starting to feel stung as the market slips away from them, according to responses in Redfin’s latest Real-Time Home-Buyer Tracker. The survey shows a shortage of inventory and rising prices—both of which naturally...

Zillow Report More Homeowners Released from Negative Equity

Zillow: 1.9M Homeowners Released from Negative Equity in 2012 Over the course of last year, nearly 2 million homeowners were released from negative equity, Zillow reported Thursday. Data from Zillow revealed 1.9 million homeowners came out of negative equity due to two main reasons: completed distressed...

Big Decline in Foreclosures

MBA: Delinquency, Foreclosure Rates See Steep Declines in Q4 The national delinquency rate moved against the seasonal trend and declined from the third to fourth quarter, while foreclosure starts and the foreclosure inventory rate made history with their decreases, according to the Mortgage Bankers...

Freddie Mac Sees Room For More Growth

Freddie Mac: Housing Still Has 'Substantial' Room to Grow Housing may not be where it used to be, but on the upside, Freddie Mac suggested this indicates there’s still plenty of room for the industry to grow. “[T]he level of housing activity is still near historic lows. This...

FNMA Helps Short Sales

Fannie Mae Announces Tool to Escalate Short Sales Real estate professionals who find themselves stuck in the short sale process can turn to a recently expanded tool from Fannie Mae. The HomePath for Short Sales tool can be used by agents to escalate the short sale process. The tool is only for...

Good Remodeling Projects for High Return

Report: Remodeling Projects that Yield the Greatest ROI   A lot of homes can use a facelift, especially properties in distress, but some projects may not be worth the sweat and dollars when considering the return on investment (ROI). Based on results from the 2013 Remodeling Cost vs. Value...

Big Price Gains

Home Values See Largest Annual Gain Since 2006 U.S. home values in 2012 rose 5.9 percent over 2011, according to data in Zillow’s latest Home Value Index (HVI). The 5.9 percent appreciation rate is the largest annual gain since August 2006, near the peak of the housing bubble. While the...

REO Sales Dropping in Early 2013

  The Rise and Fall of REO Sales REO sales no longer play the dominant role they once did in real estate transactions. The recent decline in REO sales, along with the decrease in inventory, is helping the market see an improvement in prices, according to a report from Corelogic. REO sales showed...

More Short Sales Expected in 2013

  Agency Expects More Short Sales in 2013 with Debt Relief Act's Extension YouWalkAway.com, a foreclosure agency, conducted a survey of its clients and revealed 78 percent of those who responded said they were walking away from their primary residence. In addition, at least 74 percent of all respondents...

Zillow Reports More Appreciation in 2013

  Survey: Experts Predict 3.1% Price Increase in 2013 Home prices will increase by 3.1 percent in 2013 and top off 2012 with a 4.6 percent gain, according to Zillow’s December Home Price Expectations Survey. The survey, which was conducted by Pulsenomics LLC, was based on responses from...

Mortgage Debt Relief

  Mortgage Debt Relief Act Extended for Another Year Struggling homeowners who are considering a short sale or modification will be eligible for tax relief in 2013. The “fiscal cliff bill” passed by Congress on January 1 included a provision to exclude borrowers from paying taxes...

Buyers More Motivated

  Survey: Rising Prices Motivate Buyers to Purchase Now The expectation for prices to continue rising is creating urgency among consumers to buy now, according to a Redfin survey of 1,084 active homebuyers. The percentage of homebuyers who believe prices are bound to move higher in the next...

Fannie Mae Reports on 2013

  Fannie Mae: Housing Market to Press On While Economy Lags After rising in the third quarter, overall economic growth is expected to decline this quarter and in early 2013, according to Fannie Mae. However, the GSE anticipates further strengthening in the housing market. Economists at Fannie...

Good News for Home Investors

  Rental Sector to Gain the Most from Rebound in Household Formation As household formation mends and grows, the housing recovery will benefit overall, but the rental industry is expected to come out as the biggest winner, according to a report from Capital Economics. “With the overwhelming...

Millennial Generation Excited About Home Ownership

  Trulia: 93% of Young Renters Plan to Become Owners Consumers are becoming more positive toward the idea of homeownership as home prices rise and the threat of delinquencies and foreclosures subside, Trulia reported Wednesday. Confidence in future ownership is especially prevalent among young...

Zillow Reports on Western Markets

  Zillow: Western States Dominate Top Markets for Sellers A new report from Zillow shows home sellers in the West tend to have the greatest advantages over buyers when it comes to negotiation, while buyers in the Midwest and Mid-Atlantic areas are likelier to come out of a sale with more left...

Freddie Mac Forecast 2013

  Freddie Mac: What to Expect from Housing in 2013 Freddie Mac made suggestions on what housing might look like in 2013 in its December outlook report. Overall, the GSE expects to see a continuation of positive trends. For one, property values should still rise into the next year and are likely...

Foreclosures Decreasing

  Foreclosure Activity Falls to Five-Year Low: RealtyTrac Foreclosure filings — including default notices, scheduled auctions, and bank repossessions — were reported on 180,427 U.S. properties in September, according to RealtyTrac. The total number of filings last month was down 7...

More Good Real Estate News

  CoreLogic: Home Prices Sustain Recovery with 4.6% Yearly Gain Home prices continued to trend upwards in August, posting both yearly and monthly gains for the sixth consecutive month, CoreLogic reported Tuesday. When including distressed sales, home prices in August rose 4.6 percent from a...

Home Price Surge Likely to Continue

  Home Prices Forecast to Weather Winter, but Will Congress Ice Gains? Home prices continued to reclaim lost ground in September with increases recorded for every corner of the country, Clear Capital reported Tuesday. Improvements have been so strong, in fact, the real estate valuation firm says...

Economists Upbeat About Real Estate

  Economists Far More Optimistic on Future of Housing Prices: Survey A strengthening housing market in the past few months has economists making more bullish predictions about the recovery, Zillow revealed Thursday. The company released the results of its most recent Home Price Expectations...

Flipping in the News

  Reality TV's Flip Men Offer Investment Tips During Webinar   RealtyTrac hosted a webinar Wednesday to get advice from two pros in the world of property flipping. Titled Learn Before You Leap: Real Estate Investing Lessons From Spike TV’s Flip Men, the webinar was hosted by Daren...

Foreign Buyers Snap Up US Homes

  Foreign Buyers Snap Up US Homes at Reduced Prices The dollar volume of U.S. homes sold to foreign buyers rose 24 percent in the 12 months through March as investors from Canada, China, India, Mexico and the U.K. took advantage of low prices and favorable exchange rates. Foreign buyers spent...

Market Gaining Steam

  Clear Capital: Prices See First Quarterly and Yearly Gain Since August '10 For the first time since August 2010, home prices rose on both a quarterly and yearly basis, according to the May 2012 Home Data Index (HDI) report released by Clear Capital. Quarter-over-quarter, prices appreciated...

Positive Reports on New Home Sales

  Economists Analyze Positive Reports on New Home Sales New home sales rose 3.3 percent month-over-month in April to a seasonally adjusted annual rate of 343,000, the Commerce Department and HUD reported Wednesday. On a yearly basis, new home sales rose 9.9 percent. And, the good news did not...

Delinquencies Down

  Delinquency Rate Reaches Lowest Level Since 2009: TransUnion After declining during the 2012 first quarter, the national mortgage delinquency rate is at its lowest level since the first quarter of 2009 and finally dropped after two consecutive quarterly increases. TransUnion reported Wednesday...

Homes Great Investment

  Trulia: Rent Prices Climb While Asking Prices Point Towards Recovery   While reports on home prices have been mostly uninspiring, with some flickering of hope here and there, rent prices continue to make significant strides, with rent increasing more than 10 percent compared to a year...

Fannie & Freddie Consider Principle Reduction

  NPR and ProPublica Report GSEs Considering Principal Reduction   NPR and ProPublica reported Friday that Fannie Mae and Freddie Mac might consider principal reduction as a means to help underwater homeowners. “NPR and ProPublica have learned that both firms have concluded that...

Foreclosures vs Short Sales

  Short Sales Bring 24% Greater Returns than Foreclosures The real estate professionals at Massachusetts-based McGeough Lamacchia Realty have been proponents of short sales for quite some time, insisting that everyone comes out ahead when a short sale is achieved as opposed to a foreclosure....

Foreclosures Decreasing

  Report Reveals Number of Foreclosures Down From Last Year   A foreclosure report released by CoreLogic Wednesday revealed that the number of homes in foreclosure is decreasing nationwide. The report included monthly data on foreclosures, foreclosure inventory, and 90-plus delinquency...

Fannie Mae Opens Up Repos

  Fannie Mae Now Accepting Online Offers for REOs   Fannie Mae announced Tuesday that it has expanded its online system to accept purchase offers for all its REOs listed for sale.   Real estate agents will now submit offers online on behalf of clients, receive receipt confirmation,...

Economists Talk About The Market

  Rise in Home Sales Signifies Strengthening Market: Economists The long-awaited housing recovery is beginning to blossom, according to industry experts taking a look at recent existing-home sales. While admitting home sales “are still very low,” Paul Dales, chief economist at Capital...

Market Improves

December 2011 statistics published by the NWMLS show the highest sales figures since 2006. Closed sales show prices stabilizing in King and Snohomish counties. Median prices dropped just slighly in Pierce, Thurston and Kitsap counties. Interest rates remain at a record low of 3.875% for 30...