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Home Sales Increase as Investors Scoop up Distressed Properties
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 TAKE IT TO THE NEXT LEVEL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Home Sales Increase as Investors Scoop up Distressed Properties
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
Home Sales Increase as Investors Scoop up Distressed Properties

September 22, 2011 (Chris Moore)

Distressed property sales were almost 7 percent higher in August than July and investors came out in force to scoop them up, helping existing home sales to post a 7.7 percent gain according to the National Association of Realtors (NAR).

Investors accounted for 22 percent of all purchase activity in August, up from 18 percent in July, as distressed property sales increased to 31 percent of all homes sold, an increase of 6.9 percent over July.

As a consequence of the deep discounts that distressed properties typically sell for, median home prices continued to decline, falling to an average of $168,300 in August, down from $174,000 in July. The national median home price was also 5.1 percent lower than August 2010.

Total existing home sales, which include single-family homes, townhomes, condos, and co-ops, sold at a seasonally adjusted rate of 5.03 million in August, up from a revised 4.67 million in July. Sales were 18.6 percent higher than the 4.24 million units sold in August 2010 which was primarily due to home sales last year suffering from the hangover caused by the expiration of the home buyer tax credit.

Lawrence Yun, chief economist at NAR, stated, “Some of the improvement in August may result from sales that were delayed in preceding months, but favorable affordability conditions and rising rents are underlying motivations. Investors were more active in absorbing foreclosed properties. In additional to bargain hunting, some investors are in the market to hedge against higher inflation.”

Purchase cancellations, which first spiked in June, continued to be a source of concern in August as cancellations caused by declined mortgage applications and low appraised values increased even higher from 16 percent in July to 18 percent in August.

Regionally, existing home sales in the Northeast increased 2.7 percent to an annual pace of 770,000 sales in August and are 10.0 percent higher than August 2010, while existing home sales in the Midwest rose 3.8 percent to a level of 1.09 million sales and are 26.7 percent above year ago levels.

In the South, existing home sales increased 5.4 percent to an annual level of 1.94 million sales in August and are 16.9 percent above August 2010 levels, and in the West, existing home sales increased 18.3 percent to an annual rate of 1.23 million sales in August and are 13.0 percent below year ago levels.

The median price in the Northeast was $244,100, a decline of 5.1 percent from a year ago, while the median price in the Midwest was $141,700, down 3.5 percent from August 2010.

The median price in the South was $151,000, a decline of 0.8 percent from a year ago and in the West the median price was $189,400, down 13.0 percent from August 2010.

Tags: NAR, existing home sales, investors, distressed property sales, 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

September 22, 2011 (Chris Moore)

Distressed property sales were almost 7 percent higher in August than July and investors came out in force to scoop them up, helping existing home sales to post a 7.7 percent gain according to the National Association of Realtors (NAR).

Investors accounted for 22 percent of all purchase activity in August, up from 18 percent in July, as distressed property sales increased to 31 percent of all homes sold, an increase of 6.9 percent over July.

As a consequence of the deep discounts that distressed properties typically sell for, median home prices continued to decline, falling to an average of $168,300 in August, down from $174,000 in July. The national median home price was also 5.1 percent lower than August 2010.

Total existing home sales, which include single-family homes, townhomes, condos, and co-ops, sold at a seasonally adjusted rate of 5.03 million in August, up from a revised 4.67 million in July. Sales were 18.6 percent higher than the 4.24 million units sold in August 2010 which was primarily due to home sales last year suffering from the hangover caused by the expiration of the home buyer tax credit.

Lawrence Yun, chief economist at NAR, stated, “Some of the improvement in August may result from sales that were delayed in preceding months, but favorable affordability conditions and rising rents are underlying motivations. Investors were more active in absorbing foreclosed properties. In additional to bargain hunting, some investors are in the market to hedge against higher inflation.”

Purchase cancellations, which first spiked in June, continued to be a source of concern in August as cancellations caused by declined mortgage applications and low appraised values increased even higher from 16 percent in July to 18 percent in August.

Regionally, existing home sales in the Northeast increased 2.7 percent to an annual pace of 770,000 sales in August and are 10.0 percent higher than August 2010, while existing home sales in the Midwest rose 3.8 percent to a level of 1.09 million sales and are 26.7 percent above year ago levels.

In the South, existing home sales increased 5.4 percent to an annual level of 1.94 million sales in August and are 16.9 percent above August 2010 levels, and in the West, existing home sales increased 18.3 percent to an annual rate of 1.23 million sales in August and are 13.0 percent below year ago levels.

The median price in the Northeast was $244,100, a decline of 5.1 percent from a year ago, while the median price in the Midwest was $141,700, down 3.5 percent from August 2010.

The median price in the South was $151,000, a decline of 0.8 percent from a year ago and in the West the median price was $189,400, down 13.0 percent from August 2010.

Tags: NAR, existing home sales, investors, distressed property sales, 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

September 22, 2011 (Chris Moore)

Distressed property sales were almost 7 percent higher in August than July and investors came out in force to scoop them up, helping existing home sales to post a 7.7 percent gain according to the National Association of Realtors (NAR).

Investors accounted for 22 percent of all purchase activity in August, up from 18 percent in July, as distressed property sales increased to 31 percent of all homes sold, an increase of 6.9 percent over July.

As a consequence of the deep discounts that distressed properties typically sell for, median home prices continued to decline, falling to an average of $168,300 in August, down from $174,000 in July. The national median home price was also 5.1 percent lower than August 2010.

Total existing home sales, which include single-family homes, townhomes, condos, and co-ops, sold at a seasonally adjusted rate of 5.03 million in August, up from a revised 4.67 million in July. Sales were 18.6 percent higher than the 4.24 million units sold in August 2010 which was primarily due to home sales last year suffering from the hangover caused by the expiration of the home buyer tax credit.

Lawrence Yun, chief economist at NAR, stated, “Some of the improvement in August may result from sales that were delayed in preceding months, but favorable affordability conditions and rising rents are underlying motivations. Investors were more active in absorbing foreclosed properties. In additional to bargain hunting, some investors are in the market to hedge against higher inflation.”

Purchase cancellations, which first spiked in June, continued to be a source of concern in August as cancellations caused by declined mortgage applications and low appraised values increased even higher from 16 percent in July to 18 percent in August.

Regionally, existing home sales in the Northeast increased 2.7 percent to an annual pace of 770,000 sales in August and are 10.0 percent higher than August 2010, while existing home sales in the Midwest rose 3.8 percent to a level of 1.09 million sales and are 26.7 percent above year ago levels.

In the South, existing home sales increased 5.4 percent to an annual level of 1.94 million sales in August and are 16.9 percent above August 2010 levels, and in the West, existing home sales increased 18.3 percent to an annual rate of 1.23 million sales in August and are 13.0 percent below year ago levels.

The median price in the Northeast was $244,100, a decline of 5.1 percent from a year ago, while the median price in the Midwest was $141,700, down 3.5 percent from August 2010.

The median price in the South was $151,000, a decline of 0.8 percent from a year ago and in the West the median price was $189,400, down 13.0 percent from August 2010.

Tags: NAR, existing home sales, investors, distressed property sales, 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