Gevon Polgar - Real Estate

For Sale: 5BR/3BA Single Family House in Mountain House, CA, $330,000

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Real estate markets across the country are inching their way to a slow recovery after bottoming out, according to several real estate economists who spoke at a forum hosted by the National Association of Real Estate Editors. National Association of REALTORS®’ Chief Economist Lawrence Yun, Zillow Chief Economist Stan Humphries, and National Association of Home Builders Chief Economist David Crowe shared their views on the direction of the housing market during the forum. "Last year was the worst year on record for [new] house sales, for 60 years of housing-sale info," Crowe said. But things are picking up, the economists note, despite several challenges still threatening that recovery. Yun says that appraisal issues are holding back up to 20 percent of home sales and that lenders’ tightened mortgage underwriting standards are likely holding back another 15 to 20 percent of potential home deals. Here are some of the economists’ forecasts: 1. New-home market: The NAHB pred

Obama Extends Foreclosure Prevention Program Aid

Building permits for single-family homes rose 1.8 percent in December to a rate of 444,000 units compared with November, according to a joint release by the U.S. Census Bureau and the Dept. of Housing and Urban Development. Single-family housing starts rose 4.1 percent to a seasonally adjusted annual rate of 657,000. An estimated 611,900 housing units were authorized by building permits in 2011. This is 1.2 percent above the 2010 figure of 604,600. Approximately 606,900 housing units were started in 2011. This is 3.4 percent above the 2010 figure of 586,900. Gevon Polgar

For Sale: 4BR/2+1BA Single Family House in Mountain House, CA, $260,000

3 Ways to Take Advantage of a Rising Rental Market

California home sales rise in December, posting 11-month sales high California home sales rose for the third consecutive month in December, marking the highest level since January 2011, according to data from C.A.R. Sales also were up from a year ago, marking the sixth consecutive annual increase. Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 520,940 in December, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. December’s sales were up 3.3 percent from November’s revised pace of 504,420 and were up 0.1 percent from the revised 520,330 sales pace recorded in December 2010. The statewide median price of an existing, single-family detached home posted its second consecutive monthly gain, increasing 1.8 percent to $285,920 in December, up from a revised $280,960 in November. However, the median price was down 6.2 percent from the r

Optimism Builds in Housing Market

Mortgage Rates Reach New Record Lows Daily Real Estate News | Friday, January 13, 2012 Mortgage rates were back to hitting record lows again, pushing housing affordability even higher to home buyers, Freddie Mac reports in its weekly mortgage market survey. For the sixth consecutive week, the 30-year fixed-rate mortgage, the most popular choice among buyers, has averaged below 4 percent — unheard of until a few weeks ago. "Mortgage rates eased slightly this week to all-time record lows following mixed indicators in the labor market,” Frank Nothaft, chief economist at Freddie Mac, said in a statement. The economy added 1.6 million jobs in 2011 — the highest number since 2006 — but overall unemployment still remains high, Nothaft noted. Here’s a closer look at rates and the new record lows they posted for the week ending Jan. 12: 30-year fixed-rate mortgages: averaged 3.89 percent, with an average 0.7 point, reaching a new all-time low. Previously, 30-year mortgages’ rec