Chicago and Maui Real Estate for Buyers, Sellers, Renters and Investors
Inman new recently released a survey conducted by Pulsenomics LLC on behalf of Zillow showing expected home pricing growth. This group of 114 participants expect to see a growth or increase in the average home value for U.S. single family homes. We’ll see if this comes to fruition or not.
For the full story – check out the original post by Inman News here: Economists expect 2013 home price rebound | Inman News.
My friends at Keeping Current Matters have released another interesting set of information. This time a quarterly report from Pulsenomics who survey a distinguished panel of over 100 economists, investment strategists, and housing market analysts regarding their 5-year expectations for future home prices in the United States.Here are the results of their latest survey:
2012: -.4%
2013: +1.3%
2014: +2.6%
2015: +3.2%
2016: +3.5%
The average pre-bubble (1987-1999) annual appreciation was 3.6%
If you have wondered why the Foreclosure process takes longer in some states vs. Others – check out the map above. States that have a “Judicial” foreclosure system means that all of their foreclosures must be handled through the court system – thus extending the length of time it takes for a foreclosure to occur.
This may help the homeowner stay in their property longer. However it very well may also keep the property from being able to be re-sold quicker as well – adding to blight and the “shadow inventory” of distressed properties.
There are many mortgage products on the market these days, but which one is right for you? Obviously there are a lot of factors which play into that decision. However there is one product that has been on the market for a few years that many don’t talk about, or even know exists: The Energy Efficient Mortgage (EEM). This is an “add on” product meaning that you would have this in addition to your FHA or 203K or VA loan. You can even get this as a re-finance.
As you may have guessed, this loan is specifically set up to help you convert your home into a more efficient or “Green” residence. This loan will allow you to borrow up to 5% of your home price (capped at $8K for FHA and $6K for VA Loans). Additionally, the additional debt you incur from this loan is not included in your qualify ratios as well.
For specific details about the EEM, and if it may be right for you, talk to your mortgage broker.
Licensed Realtor.
Twitter: @mattpauli
Website: MattPauli.com