Home prices post biggest annual jump in two years

NEW YORK (CNNMoney)

The recovery in the housing market continues to pick up steam, as home prices posted the biggest percentage gain in more than two years in the latest reading of the closely followed S&P/Case-Shiller index. Read More...

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Home Prices Could Jump 9.7% in 2013, J.P. Morgan Says

Home-price forecasts for 2013 are on the rise.

J.P. Morgan Chase & Co. expects U.S. home prices to rise 3.4% in its base-case estimate and up to 9.7% in its most bullish scenario of economic growth. Standard & Poor’s, which rates private-issue mortgage bonds, on Friday said it expects a 5% rise in 2013.

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The J.P. Morgan analysts boosted their base-case estimate from 1.5% after a convincing rise in the “net demand” for housing this year has surpassed 2 million homes for the first time since 2006, said John Sim, a strategist at the investment bank. Net demand is the pace of existing home sales minus the inventory of homes available for sale.  Read More...

A New Housing Boom

The long-battered housing market is finally starting to get back on its feet. But some experts believe it could soon become another housing boom.

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Signs of recovery have been evident in the recent pick ups in home prices, home sales and construction. Foreclosures are also down and the Federal Reserve has acted to pushmortgage rates near record lows. Read More...

Was 2012 a Better Year for Real Estate Than 2011?

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Jet Blue's coming to Duke City a boon for Santa Fe

No, Jet Blue airways is not flying to Santa Fe, but it will certainly increase the ease for New Yorkers who want to visit when airline service starts in April to Albuquerque.

Robert Painter who writes the World Traveler Insights Examiner blog is already setting the plate.

“Are you ready for the Santa Fe Opera?  Read More...

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Is it Time to Make Your Move?

Yearly Price Gains Continue into Offseason for Homebuying

Compared to 2011, home prices continued to show strong gains in October and posted their biggest yearly increase since June 2006, according to data from CoreLogic.

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Home prices—including distressed sale—climbed 6.3 percent higher year-over-year in October, marking the eighth consecutive month of yearly gains. Distressed sales include transactions for REOs and short sales. Read More...

8 Major Indicators All Confirm A Strong Recovery In US Home Prices

Read more ...

Five Reasons Home Prices Have Been Rising

Home prices rose by 0.1% in September from the prior month and by 3.6% from one year ago, the largest such gain in six years, according to a report released Monday by Lender Processing Services. 

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Compared with one year ago, prices are up by 17.7% in Phoenix, the largest gain among the nation’s 40 largest metro areas. Other cities with notable year-over-year increases include Detroit (11.7%), Las Vegas (11.5%), San Jose, Calif. (11.3%), San Francisco (10%), and Sacramento (8.3%).  Read More...

Housing Market Propels Economy

The U.S. housing market, which plunged the economy into recession five years ago and was a persistent drag on the recovery, is now a key economic driver at a time when other sectors are slowing.

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Economists project U.S. gross domestic product growth will slow in the final three months of the year from the sluggish 2% annual rate in the third quarter. Read More...

Home prices: Biggest rise in more than 2 years

NEW YORK (CNNMoney) -- In another sign of a housing market rebound, home prices posted the biggest percentage gain in more than two years in the third quarter, according to the closely followed S&P/Case-Shiller index.

The 3.6% increase from a year earlier is more than three times the rise in the previous quarter and was the biggest jump in prices since the second quarter of 2010. But that 2010 rise was much more of a temporary blip caused by a homebuyer's tax credit of up to $8,000 on homes purchased in late 2009 and early 2010. Read More...

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5 Reasons to Love Santa Fe During the Holidays

There’s no question that Santa Fe is a wonderful place to live and visit. Our unique high desert city offers more artwork, food, music, shopping and recreation than we could ever begin to shake a stick at.  The City Different becomes especially magical during the holidays, though, inspiring visits from around the world. Here’s why we believe Santa Fe is the perfect place to spend your holiday season.  Read More...

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It's starting to look like ski season!

It's that time of year again...can't wait!!!

Northern New Mexico ski areas are relishing the snowfalls over the weekend, though they were scant.

So far, the earliest scheduled opening date for the season is Saturday, Nov. 17, at Sipapu, near Peñasco, where 5 inches fell over the weekend, adding to the resort’s artificial snowmaking efforts. Read More....

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NAR Economist: Home Prices to Rise 15% in 3 Years

ORLANDO—National Association of Realtors Chief Economist Lawrence Yun foresees U.S. home prices rising by 15% over the next three years, a boost for the beleaguered housing market.

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Mr. Yun is widely known for his optimistic forecasts, given his employer, the nation’s largest housing cheerleader. Still, any talk of rising home prices is welcome news. Home values have plunged a third or more from the peak, leaving millions of Americans underwater, or owing more than their mortgage, and unable to move. If their values increase, they might feel comfortable enough to buy a bigger home or retire to a smaller one, helping everyone from real-estate agents, who would earn a commission, to retailers selling everything from furniture to paint. Read More...

Housing Market Uptrend Expected Through 2014

The housing market recovery should continue through the coming years. Read More...

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America's Best Cities

Santa Fe does it again!  Voted #2 in the latest Travel and Leisure Poll.  Read More...

Americans Upbeat on Prospects for Home Prices

Americans continue to show growing confidence that home prices will increase over the next 12 months, offering another sign of a slow but steady housing recovery, according to Fannie Mae's FNMA -2.52% monthly national-housing survey.

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The mortgage-finance company said its poll of 1,001 Americans showed that consumers  expect home prices to increase an average of 1.7% over the next year. Read More...

CoreLogic: Home Prices Up 5% Annually, "Outpace Expectations"

Home prices increased 5 percent on an annual basis in September according to data released this morning by CoreLogic. The CoreLogic Home Price Index (HPI) which includes sales of distressed homes, indicate that September had the largest price increase in over six years and represented the seventh month when annual prices increased.  September's annual increase, however, was 0.3 percent lower than the annual increase in August.

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When distressed sales are excluded, home prices also increased on a year-over-year basis by 5 percent and increased month-over-month for the seventh consecutive month, increasing 0.5 percent compared to August.  Read More...

Where Are House Prices Headed?

by THE KCM CREW on NOVEMBER 5
We are often asked where we think home prices are headed over the next year. Recently, several groups have stepped forward and given their projections as to what level of appreciation we can expect by the end of 2013. Here is what they said:  Read More....

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Park the Pickup - Santa Fe by Bicycle

THE poet C. P. Cavafy said that a city changes when you fall in love with someone in it.  It can also change for less exalted reasons: when, for example, instead of sealing yourself in the personal microclimate of an automobile, you use a bicycle to get around. I happened to grow up in Oxford, England, a city, and country, where biking is a normal means of transport, no more a sport than bipedalism is. But it rains a lot, and I didn’t come away with a proper appreciation of the benefits of the bicycle. Read More...

Warren Buffett Just Made A Huge Bet On The US Housing Market Read more: http://www.businessinsider.com/warren-buffett-brookfield-asset-managment-housing-2012-10#ixzz2B57P5lzt

Perhaps the most bullish indicator for U.S. housing is Warren Buffett.

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The legendary investor has been buying up real-estate brokerages around the country as he bets on a housing turnaround. Now, he is partnering with Brookfield Asset Management, a Canadian real-estate investor, to more than double the size of his brokerage business.  Read more...

Top Reasons to Own a Home

Buyers all across the nation are making their dreams come true. They’re signing on the dotted line and grabbing hold of the keys to a family home.

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Despite record low interest rates and enticing pricing, many potential buyers are delaying the decision to buy. Read More...

Home prices rise for fifth month in a row

NEW YORK (CNNMoney) -- The housing market picked up more momentum in August, as the average home price for 20 major cities jumped 0.9%, according to the S&P/Case-Shiller home price index. 

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The increase marked the fifth consecutive month of gains for the index with all but one city, Seattle, recording month-over-month price increases. Read More...

Home Prices Up 11 Percent

Home sales dropped a bit over the last month but they remain strong compared to this time last year and price gains remain robust.

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NAR Chief Economist Lawrence Yun released NAR’s September 2012 existing-home sales figures on Friday last week, and they’re down 1.7 percent from August figures, to an annual sales pace of 4.75 million units. That’s still 11 percent above where they were last year, suggesting that the long-term upward trend continues. Read More...

New-home sales hit 2-year high

NEW YORK (CNNMoney) -- In another sign of a housing market recovery, new-home sales rose in September to the highest level in more than two years, according to a government report released Wednesday.

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Sales sold at an annual rate of 389,000 homes in the month, according to the Census Bureau report, up 5.7% from the 368,000 sales pace in August. The last time sales were at this pace, in April 2010, they were being helped by a short-term home buyer's tax credit. Read More...

Is the Housing Market Finally Rebounding?

Throughout the country, homes that once sat on the market for years are now in demand. According to a survey conducted by housing research firm Metrostudy that covers 65 percent of the country, there are less than 30,000 vacant new homes on the market. In the pre-bubble housing market, there were typically 100,000. Last month, builders constructed new homes at the fastest pace since 2008. 

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These are just a few of the growing number of signs that the five-year-long housing slump might finally be coming to an end.  Read More...

The 25 Best Places to Retire

Although Santa Fe is not on the list, Albuquerque is. Close enough!

There is much to be said for a place where you can ski in the morning and golf in the afternoon; drink Italian-style espresso at breakfast and eat homemade sopapillas for lunch; see ancient petroglyphs one day and gallery hop the next.

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The Housing Market Is Telling Us The Rest Of The Economy Will Accelerate Within Months

Despite some nagging doubts that have remained over the U.S. housing market, consensus is that housing has turned the corner and is recovering.

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In his latest note titled The Housing Recovery Is For Real, Deutsche Bank's Joseph LaVorgna writes that the "residential housing market is in the very early stages of a durable recovery."

Read more... 

Change ahead for Santa Fe housing market

Something has to give in Santa Fe’s housing market.

The September numbers for home sales show that the summer sizzle ended with a bang as there were 164 closed residential sales — the best September since 2006, according to data compiled by Alan Ball of Keller Williams Real Estate. Adding in the total number of sales from July through September brings 451 closed sales in the busiest season, up 35 percent from the same three months of 2011. 

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And this comes at a time when inventory has dropped significantly. At the end of September, there were 1,500 active listings countywide, according to the Santa Fe Association of Realtors — a 41 percent drop from a year ago. Read More...

Consumers More Positive on the Economy

Consumers More Positive on the Economy

The Cycle of Foreclosure...about to be broken?

by THE KCM CREW on OCTOBER 12, 2012

Foreclosures fall to 5-year low

NEW YORK (CNNMoney) -- The wave of foreclosures hitting the nation's housing market has been much less severe than anticipated, with foreclosure filings at their lowest level in five years last month, according to a report out Thursday.

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Foreclosure filings -- including default notices, scheduled auctions and bank repossessions -- were reported on 180,427 properties in September, a 7% decline from August and down more than 16% from a year earlier, according to a report released Thursday by RealtyTrac, an online marketer of foreclosed properties. That's the lowest number of filings since September 2007. Read More...

Homeowners Recover 13.5 Percent of Lost Equity Through Q3

Rising home values have brought homeowner equity to its highest level since the third quarter of 2008 and helped lift 1.3 million families above water. Homeowner equity jumped $406 billion, or 5.9 percent, to $7,275 billion in the second quarter of 2012, according to the Obama Administration’s September Housing Scorecard. Read More...

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Time Lapse of ABQ Balloon Fiesta

Real Estate Forecast 2013: The Housing Market

The housing market will improve moderately in 2013, but nobody will mistake this for a boom. The gains in activity and prices will be a welcome relief, but will leave many homeowners still underwater.

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The usual way of discussing housing problems is misleading. Foreclosures, short sales, shadow inventory, upside-down mortgages are all symptoms. The fundamental problem that we have is an excess supply of housing units. Read More....

How The Housing Recovery Will Take Shape In Coming Months

More good news on the home front.  The latest S&P/Case-Shiller Home Price Index indicates that home prices gained 1.6% in July compared to a year earlier. Every city tracked in the 20-City Composite has seen prices rise for three straight months and 16 of the 20 cities saw year-over-year increases.

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“The positive news in both the monthly and annual rates of change in home prices over the past few months signals a possible recovery in the housing market,” noted David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, in a statement. Read More...

Asking Prices Soar Nationwide

Asking prices posted their largest year-over-year increase since the housing slump began, a monthly report from Trulia shows. Home prices listed on the Trulia web site were up 2.5 percent nationally. When foreclosures are left out, asking prices were up 3.5 percent from year-ago levels.  Read More...

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House Prices: Annual Appreciation for Last 25 Years

by THE KCM CREW on OCTOBER 5, 2012

Economists: Housing recovery finally here

NEW YORK (CNNMoney) -- It's been a long time coming, but economists surveyed by CNNMoney believe the nation's housing market has finally turned the corner.

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Of the 14 economists who answered questions about home prices in the survey, nine believe that prices have already turned higher or will make that turn later this year. Only three months ago, half of the economists surveyed by CNNMoney believed a turnaround in prices would not take place until 2013 or later. Read More...

Housing: Finally on the Path to Recovery

The housing market overcame a listless economy this summer, and several data points on Wednesday show it is finally beginning a long climb out of a deep hole.

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Single-family housing starts hit their highest level in 28 months during August, on a seasonally adjusted annual basis, the Commerce Department said Wednesday. Single-family starts were up by 5.5% from July and 26.8% from one year. Starts have been up from one year ago in 11 straight months—and by double digits in each of the last nine months. Read More...

House Prices: Experts Becoming More Optimistic

Each quarter, Pulsenomics surveys a

“distinguished panel of over 100 economists, investment strategists, and housing market analysts regarding their 4-year expectations for future home prices in the United States.”

Here are the latest survey results.

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5 Reasons to Buy a Home NOW

Based on prices, mortgage rates and soaring rents, there may have never been a better time in real estate history to purchase a home than right now. Here are five major reasons purchasers should consider buying:

Supply Is Shrinking

With inventory declining in many regions, finding a home of your dreams may become more difficult going forward. There are buyers in more and more markets surprised that there is no longer a large assortment of houses to choose from. The best homes in the best locations sell first. Don’t miss the opportunity to get that ‘once-in-a-lifetime’ buy.

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Price Increases Are on the Horizon

Prices will bounce along the bottom this winter. However, projections call for appreciation after that. Several studies and surveys call for price increases over the next few years starting in 2013. One such survey shows that prices will increase over 10% by 2016. Read More...

Five Questions: Why Home Prices Are Rising

Home prices through July posted their largest year-to-date rise since 2005, according to the S&P/Case-Shiller index covering 20 major metropolitan areas. Read More...

New Home Sales Steady - But Prices Jump!

NEW YORK (CNNMoney) -- Sales of new homes were little changed in August, but prices rose sharply in a signal of continued improvement in the housing market, according to a government report issued Wednesday.

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New homes sold at an annual rate of 373,000, down 1,000 from the July reading from the Census Bureau, which tracks the sales. The number is 28% above year-earlier levels. Read More...

Home Prices Rebound to '03 Levels

NEW YORK (CNNMoney) -- In another sign of a turnaround in the long-battered real estate market, average home prices rebounded in July to the same level as they were nine years ago.

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According to the closely watched S&P/Case-Shiller national home price index, which covers more than 80% of the housing market in the United States, the typical home price in July rose 1.6% compared to the previous month. Read More...

Investors Ready to Take Bigger Bite Out of Market

Rising home prices haven’t deterred investors from the housing market, according to a new survey by real estate-centered companies BiggerPockets.com and Memphis Invest. In fact, nearly 40 percent of real estate investors say they plan to purchase more properties over the next 12 months than they did last year. Twenty-six percent say they plan to buy as many as they did last year, according to the survey. 

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Investors have made up a big part of the housing market in recent months. Investors bought 1.23 million homes last year—a nearly 65 percent increase over the 749,000 they purchased in 2010, according to the National Association of REALTORS®.  Read More...

Mortgage Rates Lower Every Day This Week. New Lifetime Lows.

Mortgage rates have moved lower every day this week.  Today's move was even more pronounced than yesterday's, carrying rates decisively into NEW all-time lows.   Today's data and events during the domestic market session were of little concern to Secondary Mortgage Markets, which began the day in stronger territory thanks to the overnight sessions in Europe and Asia.  From there, MBS (the "mortgage-backed-securities") that most directly influence rates) essentially held stead for the rest of the day, allowing lenders the ability to pass on more of the improvements. Read More...

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2 bedroom / 2 bath home on corner lot in Santa Fe, NM

Check out this new listing!

                                           This corner lot home on a cul-de-sac, by a field and running path has wonderful views & privacy. Better then new home has been freshened up from head to toe w/new carpet, paint & landscaping. Feel its expansiveness while relaxing in the landscaped extra large rear patio. Conveniently located in the heart of The Original Village just steps from the market. The newly insulated/sheet rocked 2 car garage makes a perfect workshop/office. The best deal in Rancho Viejo! MLS 201204477.  Offered at $199,000

See the listing here.

Virtual Tour

Mortgage rates at record low, again.

NEW YORK (CNNMoney) -- Mortgage rates fell to record low levels once again last week, as the Federal Reserve's decision to buy billions in home loans for the foreseeable future helped bring lending costs down for home buyers and owners.

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Mortgage finance backer Freddie Mac's weekly survey of mortgage rates showed the average 30-year fixed-rate mortgage fell to 3.49% from 3.55% the previous week. That matched the previous record low set in July. The fixed-rate 15-year mortgage reached a new record low of 2.77%, down from 2.85% a week earlier. Read More...

Home Sales Rate Rose in August to a 2-Year High

Sales of existing homes rose in August to their highest rate in more than two years and new housing construction also climbed last month, providing signs that a budding housing market recovery is gaining traction.

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The National Association of Realtors said Wednesday that existing home sales increased 7.8 percent last month to an annual rate of 4.82 million units. That was well above economists’ expectations and the fastest rate since May 2010 when activity was being supported by a homebuyer tax credit. Read More...

Home Loans may get Cheaper under New Rules

Home mortgages could get a bit cheaper and eventually easier to get as a result of actions taken last week by the Federal Reserve and the agency that regulates Fannie Mae and 
Freddie Mac. 

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On Thursday, the Fed said it would begin buying $40 billion worth of mortgage-backed securities per month. Read more...

As Home Prices Rise, Will Investors Step Back?

Now that home prices are rising again, watch for investors to step back from the market.

Home prices in June rose by 0.5% from one year ago, according to the S&P/Case-Shiller home price index released on Tuesday. That is the first year-over-year increase in the since a tax credit-fueled home-buying rush two years ago.

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Prices began rising earlier this year amid a strong bid from investors for bargain-priced foreclosures. They have continued to climb as more buyers chase fewer homes for sale. Listings are down sharply from one year ago, the result of banks putting fewer foreclosures up for sale and traditional homeowners sitting on the sidelines. Read More....

Home Buyers Face Serious Competition

(Money Magazine) -- When Paul and Ieva Johnson moved from Minnesota to Florida, they were looking forward to warm weather and plenty of bargain-priced homes. But when the couple made their first offer earlier this year, they quickly discovered that they'd have to settle for the sunshine.

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Not only didn't they get the house, says Paul, but "we didn't even get a callback." Over the next two months they put in seven offers -- most at or above asking price -- before finally making a successful $365,000 bid on a Sarasota three-bedroom.  Read More...

Housing on Mend, but Full Recovery Is Far Off

Home prices during the first half of 2012 posted their strongest gains in six years, the clearest sign that more U.S. housing markets have hit bottom.

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But the housing market remains far from normal. Hitting a bottom shouldn't be confused with a full-on recovery, which looks a ways off.  Read More...

Finally a little Rain!

I woke up this morning to gray, cloudy skies with a touch of drizzle.  It's not much, but we'll take what we can get. The smell of the pinon when it rains is intoxicating. Love that rain!

Housing Is Rebounding -- Just Not the Way You Think

Make no mistake: Housing is recovering. It's on an upswing. It's likely sustainable, and I think it has a long way to run. But if you're a homeowner, don't get your hopes up. The recovery probably won't affect you like you think.

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Housing construction is rebounding, and there's a decent chance it will double in the coming years (more on that in a second). But housing prices are another story altogether.  Read More...

The 10 States with the Strongest Housing Markets

The housing market is showing signs of a recovery, albeit a halting one. In 10 states, median home prices increased by more than 5.5% from July 2011 to July of this year. While there is no single reason why housing markets in these states have done so well, most have several things in common.

Many of them, like North and South Dakota, have maintained jobless rates at nationwide lows. In these states, home prices barely dropped when the national housing bubble burst. Since then, home prices in some of have even risen, while the national market plummeted. In these economically stable areas, home prices expected to continue to move higher, although recoveries are expected to be modest. Read More...

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