Newsletter

Join Our Mailing List
Email:
For Email Marketing you can trust

Mortgage Rates



Mortgage Rates



Current Mortgage Rates


Get Widgets

News

Follow us

     

Video Message

Place An Order Today

                

Attorney Settlement Assistance Program

Closing Services for Attorneys, Lenders and Realtors.
Check out ASAP

The Anatomy of a Great LinkedIn Sales Message

If part of your lead funnel is filled through LinkedIn, Hubspot published a great article of some of the do’s and don’ts.

LinkedIn is definitely a platform that should be utilized in many cases during those periods that are outside of the busy seasons. In the case of the real estate market, now might not be the best time to reach out to attorneys or real estate agents since spring and summer are super busy for them. But after Christmas and through February would be ideal times to work your LinkedIn network.

National Association of Realtors: Existing-Home Sales Sag

The report issued by the National Association of Realtors indicated that existing–home sales declined slightly in April to 3.3 percent to a seasonally adjusted annual rate of 5.04 million in April from an upwardly revised 5.21 million in March.

Still, the projected annual sale pace of five million for the second consecutive year is still on track. The only region that reported an improvement was the Midwest, all other regions including California and Florida reported sales declines in April.

RealtyTrac Reports U.S. Foreclosure Activity Increases 3 Percent in April

+ Highest State Foreclosure Rates in Florida, Nevada, Maryland and New Jersey
+ Bank Foreclosure Starts and Scheduled Foreclosure Auctions Continue to Decline

RealtyTrac reported foreclosure filings of 125,875 U.S. properties in April of 2015 which is up 3 percent from the previous month and up 9 percent from a year ago, an 18-month high. The current U.S. foreclosure rate in April was one in every 1,049 housing units with a foreclosure filing.

Housing Starts and Mortgage Apps: 2 Different Stories

The Commerce Department reported on May 19th that housing starts surged 20.2 percent to 1.14 million units, representing the highest level since November 2007.

On top of that, building permits also increased by 10.1 percent.

Groundbreaking surged 85.9 percent in the Northeast.

Starts fell by 1.8 percent in the South but building permits were up 9.9 percent.

Groundbreaking for single-family homes, which represents the largest share of the market, hit its highest level since January 2008, with starts for the multi-families also showing gains.

Cash Sales Should Fall to 25% by 2018

According to CoreLogic, property cash sales should fall to near normal levels, 25%, by mid-2018.

Still cash sales continue to comprise nearly 40% of all sales.

The most recent report by CoreLogic put February 2015 cash sales at 37.9% of total home sales nationally. This represents a slight decrease from the 40.6% reported in February 2014.

Currently, looking on a year-over-year basis, the percentage of cash sales have fallen each month since January 2013, making February 2015 the 26th consecutive month of declines.

New Jersey Land Is Best in USA

According to a report published by the federal government, New Jersey's land is worth more per acre than any other state.

Actually, New Jersey's land value per acre on average "kills it."

New Jersey's average value per acre stands at $196,410; based upon the same report, an acre in Wyoming came in at the least, at $1,557 an acre on average.

The more than 4.7 million acres of land in New Jersey, excluding buildings, is worth $930 billion, according to the paper.

Only three other states come in at the $100,000 level: Rhode Island, Connecticut and Massachusetts.

1.55 Million Loan Originations for Q1 2015

There were over 1.55 million loans originated on single family homes Q1, according to RealtyTrac.

Lower interest rates continue to fuel a active real estate market.

According to RealtyTrac mortgage origination increased by 17% year year-over-year for the first quarter of 2015.

Of the 1.5 million loan originations, clearly two thirds or 67.8% of total loan origination were from refinance loans.

The amount of loans refinanced totaled $256 billion for the first quarter of 2015.

Another $128 billion was used to purchase homes.

CoreLogic Reports Foreclosures Fall by 25.7% from 2014 Nationally

CoreLogic reported that the national foreclosure inventory fell by 25.7 percent year over year in March 2015.

The report issued by CoreLogic stated that foreclosure inventory nationally fell to approximately 542,000 homes, or 1.4 percent of all homes with a mortgage.

Fast Facts from the report:
■ This continues the unbroken trend of 41 months with consecutive year-over-year declines
■ For March 2015, the 12-month sum of completed foreclosures continued to decline, dropping by 15.5 percent to 544,000 since March 2014

Housing Eating Up More Paycheck

A recent study found that many Americans are spending at least half their pay on housing.

According to a new analysis of Census data by Enterprise Community Partners, 1 in 4 US renters must use half their pay for housing costs which includes both rent and utilities. Part of this is do to the “surging cost of rental housing has squeezed a rising proportion of U.S. families since the Great Recession struck in 2007,” according to an AP report. The number of such households now stands at 11.25 million, which is the highest figure since 2007.

Profit on Flipped Homes Hits $72K for Q1 2015

RealtyTrac first quarter report for single family home sales indicates that the number of homes that were flipped fell, what the percentage of profit on those homes went up significantly.

The average gross profit between the purchase price and the completed sale price for each home flipped was $72,450. This is up from Q 4 of 2014 which was $65, 290, and up from Q1 2014 which was $61,684.

According to RealtyTrac the average gross return on investment fell slightly from 35.3 to 35.1%.