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Open houses are still an important component of marketing a home for-sale to many real estate professionals, according to a real estate lead generation company. The REALTOR® Nationwide Open House Weekend event wrapped up this past weekend, as agents across the country held an estimated 31,078 open houses. Sixty percent of Inman News readers say open houses and working with a wholesale backdrops printing company are a part of their marketing strategy, according to the poll of 218 real estate professionals. So how do agents spread the word about their […]

Nearly 70 percent of real estate agents recently polled predict home prices will rise by the end of this year, particularly among homes in the low and mid-price ranges, according to the RE/MAX Market Insights, an online survey of more than 1,000 RE/MAX agents. “This market is definitely heating up,” says Margaret Kelly, RE/MAX CEO.  “[Real estate agents] are witnessing a recovery across the country fueled by home buyers and sellers taking advantage of a significant market opportunity.” More real estate professionals are also reporting greater interest among non-investor home […]

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PulteGroup ($10.27 0.24%) reported first-quarter losses of $12 million, or 3 cents a share, reducing its year-ago losses of $40 million, or 10 cents a share. The Bloomfield Hills, Mich.-based homebuilder met analyst expectations of 3 cents a share, according to Zacks Investment Research, buoyed by a dramatic increase in land sale revenues. Home sale revenues in the first quarter increased 4% to $814 million from $782 million a year earlier. The rise in revenue reflects a 5%, or $12,000, increase in average selling price to $261,000, partially offset by […]

Although U.S. foreclosure activity may be declining, the problem is far from over. There have been 5 million foreclosures since 2007, reports the Center for Responsible Lending, which estimates that between 3 million and 5 million more will occur over the next couple of years. In 2003, one in 38 U.S. home owners were seriously delinquent on their mortgage payments or in foreclosure, but today those numbers are one in 10. Some of the consequences of foreclosures are obvious: family displacements, crime in vacant properties, ruined credit, and the loss […]

The nation’s home prices rose 0.3% on a seasonally adjusted basis from January to February, according to the Federal Housing Finance Agency’s monthly house price index. For the 12 months ended February, home prices rose 0.4%, the first 12-month increase since the July 2006 to July 2007 interval. The index remains 19.4% below its April 2007 peak and is roughly the same as its January 2004 level. While prices in January were unchanged, according to initial estimates reported in the last HPI release, the January result was revised downward to […]

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Fewer Americans acquired new homes in March compared to February, dampening optimism that the housing market could see a material turnaround this year. Still, numbers are improved from a year ago. The Commerce Department recorded 328,000 new single-family home sales in March, down 7.1% from the revised February estimate of 353,000 home sales. The 7.1% home value drop is steeper than the 1.6% drop in new home sales experienced in February and the 5.4% decline recorded back in January. But it is up 7.5% from March of 2011, suggesting improvement […]

Home prices fell to post-recession lows in the latest Standard & Poor’s/Case-Shiller national indices.  Home values in nine metro areas also reached record lows, the report said. S&P said its 10-city composite index experienced an annual home price decline of 3.6% in February, while the 20-city composite index declined 3.5% from a year earlier. This is a slight improvement from January when the indices declined 4.1% and 3.9%, respectively, year-over-year. “While there might be pieces of good news in this report, such as some improvement in many annual rates of […]

Freddie Mac wants mortgage servicers to use funds from an underutilized federal program to help homeowners through short sales and other foreclosure alternatives. The mortgage giant, in a letter to its servicers Monday, said they now must participate in Hardest Hit Fund transition assistance programs from 18 states and the District of Columbia. The directive, issued Monday, is effective immediately. The requirement applies to borrowers for short sales, deed-in-lieu deals or relocation assistance, but only if they don’t interfere with Freddie rules. The letter to mortgage servicers comes as Freddie […]