Today’s Real Estate Update for your review !

by John DeCosta.  ” Take a quick look at what is happening. Some people think the market is improving, and some are quite fearful.”

November 4, 2013

Tight Lending Standards Slow the Economy

Changes in lending standards by banks, undertaken to reduce their risk and preserve capital, have huge, macroeconomic effects on the economy. Not are not only restricting credit, they simultaneously reduce the demand for credit by businesses homeowners, even creating credit shocks that impact GDP. However, banks loosen standards to create a competitive advantage in the marketplace according to a new study by economists at the Federal Reserve.

Realtors Now as Old as Congressmen

The median age of Realtors now is the same as the median age of members of the current US House of Representatives, according to the latest member profile from the National Association of Realtors.

Case-Shiller: Prices Slowing to 5.4% Appreciation

Home prices increased by 10.1 percent in the second quarter of 2013 compared to a year ago and prices nationwide are now 16 percent above the trough, reached in the fourth quarter of 2011, but still remain 24 percent below the peak, reached in the first quarter of 2006.

First Rental-backed Security Reaches the Market

Blackstone began marketing the first-ever US home-rental asset-backed security on Wednesday, with some 300 potential investors expected in New York to peruse the nearly $480 million deal.

Detroit, Santa Barbara and Reno Lead Turnaround

Detroit, Santa Barbara, Calif. and Reno, Nev. markets are currently leading the nation in recovery according to realtor.com’s third quarter ranking of America’s top turnaround markets.

August Prices Rise to 12.8 Percent Over 2012

S&P Dow Jones Indices released for its S&P/Case-Shiller1 Home Price Indices showing that the 10-City and 20-City Composites increased 12.8% year-over-year. Compared to July 2013, the annual growth rates accelerated for both Composites and 14 cities.

Investors Have Doubled Purchases Over 2012

Though most observers forecast rising home prices would drive investors out of the market for single family rentals, that fact is that to date investors have purchased more homes than they did in all of 2012 or 2011.

August Values Rose in Fewer Local Markets

Prices increased on a month-over-month basis in 253 of the top 300 markets, fewer than 293 in July, according to Homes.com’s Local Market Index for August.