{"id":5036,"date":"2010-06-18T14:59:02","date_gmt":"2010-06-18T19:59:02","guid":{"rendered":"https:\/\/bhgrealestateblog.com\/?p=5036"},"modified":"2024-12-30T14:34:32","modified_gmt":"2024-12-30T19:34:32","slug":"week-in-review-things-we-liked-from-the-week-that-was-27","status":"publish","type":"post","link":"https:\/\/bhgrecareer.com\/bebetterblog\/week-in-review-things-we-liked-from-the-week-that-was-27\/","title":{"rendered":"Week in Review: Things We Liked from the Week That Was"},"content":{"rendered":"<p><a href=\"http:\/\/www.reuters.com\/article\/idUSTRE65912320100612?type=domesticNews\"><span style=\"text-decoration: underline\">The Stanley Cup<\/span><\/a> ended last week, but\u00a0the industry is talking about\u00a0a possible\u00a0<a href=\"http:\/\/www.inman.com\/news\/2010\/06\/16\/house-prices-spike-again\"><span style=\"text-decoration: underline\">hockey stick<\/span><\/a> recovery for housing\u00a0if builders can&#8217;t\u00a0\u201cmeet pent-up demand once excess inventories are depleted.\u201d\u00a0\u00a0The\u00a0sentiment is joined by analysts who believe that\u00a0<a href=\"http:\/\/money.cnn.com\/2010\/06\/15\/real_estate\/new_housing_bubble\/index.htm?section=money_topstories&amp;utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29\"><span style=\"text-decoration: underline\">a ho<\/span><span style=\"text-decoration: underline\">u<\/span><span style=\"text-decoration: underline\">s<\/span><span style=\"text-decoration: underline\">i<\/span><span style=\"text-decoration: underline\">n<\/span><span style=\"text-decoration: underline\">g<\/span><span style=\"text-decoration: underline\"> s<\/span><span style=\"text-decoration: underline\">h<\/span><span style=\"text-decoration: underline\">ortage<\/span><\/a> could be on its way as\u00a0the job market rebounds\u00a0and\u00a0people look to\u00a0buy\u00a0homes again.\u00a0In the meantime, however,\u00a0<a href=\"http:\/\/www.businessweek.com\/news\/2010-06-16\/housing-starts-in-u-s-fell-to-593-000-pace-in-may-update2-.html\"><span style=\"text-decoration: underline\">housing starts<\/span><\/a> sagged\u00a0<a href=\"http:\/\/www.ft.com\/cms\/s\/0\/cdb533a0-793f-11df-92c1-00144feabdc0.html\"><span style=\"text-decoration: underline\">10 <\/span><span style=\"text-decoration: underline\">percent<\/span><\/a> in\u00a0May and building permits fell to a one-year low.<\/p>\n<p>Trulia.com reports that\u00a0last month,\u00a0<a href=\"http:\/\/www.reuters.com\/article\/idUSTRE65F0VK20100616?type=domesticNews&amp;feedType=RSS&amp;feedName=domesticNews\"><span style=\"text-decoration: underline\">sellers lowered asking prices<\/span><\/a> on 22 percent of homes, totaling\u00a0$26.7 billion.\u00a0There\u00a0may\u00a0be many reasons\u00a0why, but\u00a0clearly\u00a0the role of the real estate\u00a0professional\u00a0in\u00a0pricing\u00a0a home\u00a0is\u00a0growing evermore vital in a\u00a0changing\u00a0market.\u00a0 This will only increase in the years to come as\u00a0the Mortgage Bankers Association\u00a0this week gave buyers\u00a0and sellers\u00a0another reason to move with a sense of urgency, saying they believe thirty-year fixed-rate\u00a0<a href=\"http:\/\/www.inman.com\/news\/2010\/06\/15\/expect-a-gentle-rise-in-mortgage-rates\"><span style=\"text-decoration: underline\">mortgages<\/span><\/a> will creep up to the high six percent range\u00a0over\u00a0the next two years.<\/p>\n<p>In good news\/bad news reports,\u00a0the\u00a0<a href=\"http:\/\/www.consumeraffairs.com\/news04\/2010\/06\/harvard_housing_study.html\"><span style=\"text-decoration: underline\">&#8220;State of the Nation&#8217;s Housing&#8221;<\/span><\/a> study\u00a0from\u00a0Harvard University&#8217;s Joint Center for Housing Studies\u00a0predicts\u00a0<a href=\"http:\/\/online.wsj.com\/article\/BT-CO-20100614-704859.html?mod=WSJ_latestheadlines\"><span style=\"text-decoration: underline\">household growth<\/span><\/a> could\u00a0approach 15 million from 2010 to 2020,\u00a0thanks to the\u00a0emergence of the\u00a0echo-boom and baby-bust generations, if employment picks up.\u00a0 However, the US Labor Department reported only\u00a041,000\u00a0private sector jobs last month, this\u00a0is only\u00a0<a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2010\/06\/09\/AR2010060904786.html?hpid=opinionsbox1\"><span style=\"text-decoration: underline\">one-fifth of the April number<\/span><\/a>.<\/p>\n<p>In\u00a0other news from Washington, in\u00a0what has been dubbed the\u00a0<a href=\"http:\/\/www.ibtimes.com\/articles\/29060\/20100616\/fannie-mae-and-freddie-mac-ordered-to-delist-shares.htm\"><span style=\"text-decoration: underline\">&#8220;the mother of all bailouts,&#8221;<\/span><\/a> Fannie and Freddie\u00a0<a href=\"http:\/\/www.google.com\/hostednews\/ap\/article\/ALeqM5jJ-e_CiwqZXolH42yQBruYSH3dhgD9GCD02G0\"><span style=\"text-decoration: underline\">have been de-listed from the NYSE<\/span><\/a>.\u00a0 These government sponsored enterprises, which\u00a0own or guarantee almost 31 million home loans, will need at least<a href=\"http:\/\/www.businessweek.com\/news\/2010-06-14\/fannie-freddie-fix-at-160-billion-with-1-trillion-worst-case.html\"><span style=\"text-decoration: underline\"> $160 <\/span><span style=\"text-decoration: underline\">billion<\/span><\/a> to be fixed\u00a0and can spiral up to\u00a0$1 trillion.\u00a0\u00a0Even the \u201clow end\u201d of this estimate\u00a0surpasses the amount spent on\u00a0bailouts\u00a0of American International Group, General Motors\u00a0or Citigroup.<\/p>\n<p>Lastly, if you have homebuyers considering a fixer-upper with limited funds to remodel it, look into\u00a0<a href=\"http:\/\/www.sfgate.com\/cgi-bin\/article.cgi?f=\/g\/a\/2010\/06\/16\/investopedia5937.DTL&amp;type=realestate\"><span style=\"text-decoration: underline\">the FHA 203(k) Loan<\/span><\/a>.\u00a0A variety of home repairs, from painting\u00a0to room additions\u00a0to kitchen remodeling, can all be financed with the loan.<\/p>\n<p>To all dads, Happy Father\u2019s Day!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Stanley Cup ended last week, but\u00a0the industry is talking about\u00a0a possible\u00a0hockey stick recovery for housing\u00a0if builders can&#8217;t\u00a0\u201cmeet pent-up demand once excess inventories are depleted.\u201d\u00a0\u00a0The\u00a0sentiment is joined by analysts who believe that\u00a0a housing shortage could be on its way as\u00a0the job market rebounds\u00a0and\u00a0people look to\u00a0buy\u00a0homes again.\u00a0In the meantime, however,\u00a0housing starts sagged\u00a010 percent in\u00a0May and building [&hellip;]<\/p>\n","protected":false},"author":141,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[61],"tags":[1801,3111,3181,3211,3231,6101,6431,9361,14381,14921,17251,18031,19801,27671,27771,36771,37371,38661,40951,41061,44141,44841,46531],"class_list":["post-5036","post","type-post","status-publish","format-standard","hentry","category-commentary","tag-america","tag-baby-bust","tag-bailout","tag-bank","tag-bankers","tag-business","tag-buyer","tag-consumer","tag-fathers-day","tag-fixed-rate-mortgages","tag-government-sponsored-enterprises","tag-harvard-university","tag-household-growth","tag-mortgage-bankers-association","tag-mortgages","tag-reuters","tag-rpr","tag-sellers","tag-stanley-cup","tag-state-of-the-nation","tag-trulia","tag-us-labor-department","tag-week-in-review"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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