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Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
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Existing Home Sales Continue Their Bumpy Ride
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Existing Home Sales Continue Their Bumpy Ride
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Existing Home Sales Continue Their Bumpy Ride

May 20, 2011 (Shirley Allen)

Existing home sales continued its ride along the bottom of the housing barrel as completed transactions declined 0.8 percent in April, 2011, compared to March according to the National Association of Realtors (NAR). Although the market has managed six gains in the last nine months, Lawrenece Yun, chief economist of NAR, says the market is “underperforming” especially considering this is generally the time of year sales are suppose to be gaining momentum and declining home prices and historically low mortgage interest rates have now made home buying highly affordable.

“Given the great affordability conditions, job creation and pent-up demand, home sales should be stronger,” he said. “Although existing-home sales are expected to trend up unevenly through next year, unnecessarily tight credit is continuing to restrain the market, along with a steady level of low appraisals that result in contract cancellations.”

A parallel survey conducted by NAR shows that 11 percent of Realtors reported that a contract had been cancelled in April due to an appraisal coming in below the negotiated price between a buyer and a seller. Ten percent of the appraisals reportedly delayed a contract and 14 percent required a contract to be negotiated to a lower sales price.

Existing home sales, which includes single-family homes, condominiums, and co-ops, sold at a seasonally adjusted rate of 5.05 million homes in April, down from a revised 5.09 million homes in March, and down from 5.8 million in April 2010.

NAR also reports that all-cash transactions stood at 31 percent, down from a record high of 35 percent in March. Investors account for the bulk of cash purchases. First time home buyers purchased 36 percent of the homes for sale, up from 33 percent in March. Investors stayed busy by capturing 20 percent of existing homes sales in April, which was down from 22 percent in March.

Distressed home sales continued to influence home prices as the national median home price was $163,700 with distressed properties typically being sold at about a 20 percent discount. Distressed home sales accounted for 37 percent of sales in April, down from 40 percent in March.

Housing inventories increased in April to 3.87 million existing homes available for sale. Based on current sales trends, that translates into a 9.2 month supply of homes.

Regionally, existing-home sales in the Northeast fell 7.5 percent to an annual pace of 740,000 in April and are 32.1 percent below a year-ago surge and in the Midwest existing-home sales rose 5.7 percent in April to a level of 1.12 million but are 16.4 percent below a cyclical peak in April 2010.

In the South, existing-home sales declined 1.0 percent to an annual pace of 1.95 million in April and are 9.3 percent below a year ago, while in the West, existing home sales slipped 1.6 percent to an annual level of 1.24 million in April and are 0.8 percent below April 2010.

The median price in the Northeast was $225,400, which is 7.3 percent below April 2010, while in the Midwest, the median price was $133,200, down 5.1 percent from a year ago.

The median price in the South was $142,800, which is 4.1 percent lower than April 2010 and in the West, the median price was $203,400, down 6.1 percent from a year ago.

Tags: NAR, existing home sales, underperforming market, affordable conditions, low mortgage rates, declining prices, low appraisals, cancelled contracts, median home price

Source:
NAR

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

May 20, 2011 (Shirley Allen)

Existing home sales continued its ride along the bottom of the housing barrel as completed transactions declined 0.8 percent in April, 2011, compared to March according to the National Association of Realtors (NAR). Although the market has managed six gains in the last nine months, Lawrenece Yun, chief economist of NAR, says the market is “underperforming” especially considering this is generally the time of year sales are suppose to be gaining momentum and declining home prices and historically low mortgage interest rates have now made home buying highly affordable.

“Given the great affordability conditions, job creation and pent-up demand, home sales should be stronger,” he said. “Although existing-home sales are expected to trend up unevenly through next year, unnecessarily tight credit is continuing to restrain the market, along with a steady level of low appraisals that result in contract cancellations.”

A parallel survey conducted by NAR shows that 11 percent of Realtors reported that a contract had been cancelled in April due to an appraisal coming in below the negotiated price between a buyer and a seller. Ten percent of the appraisals reportedly delayed a contract and 14 percent required a contract to be negotiated to a lower sales price.

Existing home sales, which includes single-family homes, condominiums, and co-ops, sold at a seasonally adjusted rate of 5.05 million homes in April, down from a revised 5.09 million homes in March, and down from 5.8 million in April 2010.

NAR also reports that all-cash transactions stood at 31 percent, down from a record high of 35 percent in March. Investors account for the bulk of cash purchases. First time home buyers purchased 36 percent of the homes for sale, up from 33 percent in March. Investors stayed busy by capturing 20 percent of existing homes sales in April, which was down from 22 percent in March.

Distressed home sales continued to influence home prices as the national median home price was $163,700 with distressed properties typically being sold at about a 20 percent discount. Distressed home sales accounted for 37 percent of sales in April, down from 40 percent in March.

Housing inventories increased in April to 3.87 million existing homes available for sale. Based on current sales trends, that translates into a 9.2 month supply of homes.

Regionally, existing-home sales in the Northeast fell 7.5 percent to an annual pace of 740,000 in April and are 32.1 percent below a year-ago surge and in the Midwest existing-home sales rose 5.7 percent in April to a level of 1.12 million but are 16.4 percent below a cyclical peak in April 2010.

In the South, existing-home sales declined 1.0 percent to an annual pace of 1.95 million in April and are 9.3 percent below a year ago, while in the West, existing home sales slipped 1.6 percent to an annual level of 1.24 million in April and are 0.8 percent below April 2010.

The median price in the Northeast was $225,400, which is 7.3 percent below April 2010, while in the Midwest, the median price was $133,200, down 5.1 percent from a year ago.

The median price in the South was $142,800, which is 4.1 percent lower than April 2010 and in the West, the median price was $203,400, down 6.1 percent from a year ago.

Tags: NAR, existing home sales, underperforming market, affordable conditions, low mortgage rates, declining prices, low appraisals, cancelled contracts, median home price

Source:
NAR

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

May 20, 2011 (Shirley Allen)

Existing home sales continued its ride along the bottom of the housing barrel as completed transactions declined 0.8 percent in April, 2011, compared to March according to the National Association of Realtors (NAR). Although the market has managed six gains in the last nine months, Lawrenece Yun, chief economist of NAR, says the market is “underperforming” especially considering this is generally the time of year sales are suppose to be gaining momentum and declining home prices and historically low mortgage interest rates have now made home buying highly affordable.

“Given the great affordability conditions, job creation and pent-up demand, home sales should be stronger,” he said. “Although existing-home sales are expected to trend up unevenly through next year, unnecessarily tight credit is continuing to restrain the market, along with a steady level of low appraisals that result in contract cancellations.”

A parallel survey conducted by NAR shows that 11 percent of Realtors reported that a contract had been cancelled in April due to an appraisal coming in below the negotiated price between a buyer and a seller. Ten percent of the appraisals reportedly delayed a contract and 14 percent required a contract to be negotiated to a lower sales price.

Existing home sales, which includes single-family homes, condominiums, and co-ops, sold at a seasonally adjusted rate of 5.05 million homes in April, down from a revised 5.09 million homes in March, and down from 5.8 million in April 2010.

NAR also reports that all-cash transactions stood at 31 percent, down from a record high of 35 percent in March. Investors account for the bulk of cash purchases. First time home buyers purchased 36 percent of the homes for sale, up from 33 percent in March. Investors stayed busy by capturing 20 percent of existing homes sales in April, which was down from 22 percent in March.

Distressed home sales continued to influence home prices as the national median home price was $163,700 with distressed properties typically being sold at about a 20 percent discount. Distressed home sales accounted for 37 percent of sales in April, down from 40 percent in March.

Housing inventories increased in April to 3.87 million existing homes available for sale. Based on current sales trends, that translates into a 9.2 month supply of homes.

Regionally, existing-home sales in the Northeast fell 7.5 percent to an annual pace of 740,000 in April and are 32.1 percent below a year-ago surge and in the Midwest existing-home sales rose 5.7 percent in April to a level of 1.12 million but are 16.4 percent below a cyclical peak in April 2010.

In the South, existing-home sales declined 1.0 percent to an annual pace of 1.95 million in April and are 9.3 percent below a year ago, while in the West, existing home sales slipped 1.6 percent to an annual level of 1.24 million in April and are 0.8 percent below April 2010.

The median price in the Northeast was $225,400, which is 7.3 percent below April 2010, while in the Midwest, the median price was $133,200, down 5.1 percent from a year ago.

The median price in the South was $142,800, which is 4.1 percent lower than April 2010 and in the West, the median price was $203,400, down 6.1 percent from a year ago.

Tags: NAR, existing home sales, underperforming market, affordable conditions, low mortgage rates, declining prices, low appraisals, cancelled contracts, median home price

Source:
NAR

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS