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June 2012

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State of Real Estate - June 2012

State of Real Estate - June 2012

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  • 1. Pending Home Sales110.0100.0 90.0 80.0 70.0 Apr May Jun Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr NAR 5/2012
  • 2. Existing Home Sales 12,658 Homes Sell Every Day and 8,987 Buyers Receive a Mortgage NAR 5/2012
  • 3. Return on Investment50 January 2000 – June 2012 34.230 14.310-10 5.8-30 -28-50 Dow S&P NASDAQ Real Estate MSN Money.com, Case Shiller
  • 4. “Until house prices are consistently rising,the economic recovery won’t fully engage.” -Mark Zandi, Chief Economist for Moody’s Analytics Housing Wire 5/9/2012
  • 5. Mortgage Rates – 30 Year Fixed5.25 54.75 4.54.25 43.75 1/01/2011 Today Federal Reserve
  • 6. Rent vs. Buy“In the chart, the red lineshows the mortgagepayment you’d have tomake if you took out astandard 30-year mortgagefor the median askingsales price for vacant saleunits… That number isnow lower than the mediannational rental price. Thisis the first time that’shappened since 1988, andprobably for quite sometime before that, too.” Reuters-Felix Salmon 5/8/2012
  • 7. Young Renters Plan to Buy a HomeA Home Buyer Poll Young Rentersreleased recently by TD Plan to Buy DontBank revealed aspirationsof homeownership are 16%still very much alive.The majority (84%) oftodays younger rentinggeneration (ages 18-34) 84%responded that theyintend to buy a home. TD Bank 5/21/2012
  • 8. Non-Financial Value of Homeownership“We’re seeing a psychological shift.Instead of looking at homes throughthe eyes of an economist, we’rerealizing that a home doesn’t solelyequate to a financial return…Insteadthe home is the emotional center ofour lives, and it remains a criticalcomponent of who we are…Thefeeling you get when you step throughyour front door or pull into yourdriveway is indescribable andpriceless and the same holds truefor our children who crave stability.”- Psychotherapist Dr. Robi Ludwig DS News 5/31/2012
  • 9. Supply & Demand
  • 10. http://web.realestateconsulting.com/us-housing-summary-2012/Default.aspx
  • 11. Month’s Inventory of Homes for Sale10.0 9.0 8.0 7.0 6.0 5.0 4.0 Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr NAR
  • 12. Impact of Coming Foreclosures“As lenders begin processing their distressedinventories and releasing them for sale at the locallevel, we look to themto move carefully andmonitor conditions sorecently gained homevalues arent diminished.“- Move.com Move, Inc. 5/30/2012
  • 13. Short Sales Skyrocketing“Foreclosure-related sales picked up in the first quarter,particularly pre-foreclosure sales where a distressedhomeowner is selling to avoid foreclosure - typically via shortsale. Those pre-foreclosure sales hit a three-year high in thefirst quarter (up 25%). Lenders are approving moreaggressively priced short sales,which in turn is resulting in moresuccessful short sales.”- Brandon Moore, CEO of RealtyTrac RealtyTrac 5/29/2012
  • 14. ResourcesSlide Slide Title Link http://www.reuters.com/article/2012/05/31/housing-data-tealeaves-idUSL1E8GU545201205312, 3, 4 Reuters Quotes6, 8 Pending Home Sales, Existing Sales Report http://www.realtor.org9 S&P Case Shiller Home Price Indices http://www.standardandpoors.com http://housingwire.com/news/zandi-foreclosure-crisis-biggest-impediment-full-us-employment11 Mark Zandi Quote13 Mortgage Rates – 30 Year Fixed http://www.freddiemac.com/pmms14 Rent vs. Buy http://blogs.reuters.com/felix-salmon/2012/05/08/chart-of-the-day-lets-go-buy-a-house http://www.marketwatch.com/story/us-homeownership-aspirations-arent-dead-owning-a-home-r15 Young Renters Plan to Buy a Home http://www.dsnews.com/articles/homeownership-still-holds-high-emotional-value-2012-05-3116 Non-Financial Value of Homeownership19 Month’s Inventory of Home Sales http://www.realtor.org20 Continued Pressure on Prices http://www.radarlogic.com/rlresearch21,22 Percentage of Distressed Property Sales http://www.realtor.org23 Foreclosure Inventory in Judicial States http://www.lpsvcs.com/LPSCorporateInformation/NewsRoom/Pages/default.aspx KEEPINGCURRENTMATTERS.COM
  • 15. ResourcesSlide Slide Title Link25 Judicial and Non-Judicial States http://www.corelogic.com/about-us/researchtrends/asset_upload_file896_15255.pdf http://www.calculatedriskblog.com/2012/05/freddie-mac-lower-reo-expense-in-q1-due.html26 Judicial and Non-Judicial States27 Impact of Coming Foreclosures http://news.move.com/index.php?s=11609&item=128978 http://www.realtytrac.com/content/foreclosure-market-report/q1-2012-us-foreclosure-sales-repor28 Short Sales Skyrocketing KEEPINGCURRENTMATTERS.COM
  • 16. W HY T HE TW HA RE HE W HOW

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