Articles:

“California Foreclosure Actions Slow in Fourth Quarter”

The number of California homes entering foreclosure in the fourth quarter fell 11.9% from the same period a year earlier to hit its second-lowest level over the last four years…

Los Angeles Times

“Investors flood Southern California housing market in December”

 A record number of investors and second-home buyers flooded the Southern California real estate market in December, though not enough to give sales in the region a bump over the same month a year earlier.

Los Angeles Times

“Rate on 30-year mortgage down to record 3.88%”

Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year fixed mortgage dipped to 3.88 percent this week, down from the old record of 3.89 percent one week ago.

Los Angeles Times

To download the articles from this segment, click on the following links

California Foreclosures

Investors flood Southern California housing market in December

Rate on 30-year mortgage down to record 3.88%

Affordable Housing Real Estate Resource: Housing Affordability Index

Housing affordability will be at its highest in a generation this year.

The affordability index is comprised of median home prices, median family income, and the prevailing mortgage rate. An index of 100 implies that a median income family has just enough income to buy a median priced home. An index of 120 implies that a median income family has 20 percent more income than is necessary to buy a median priced home. The index reached an all-time high (since the data creation in 1970) of 174 in 2010. This year, it looks to surpass 180. The rising affordability is a combination of lower home prices, record low mortgage rates, and a slight rise in family income.

In short, there hasn’t been a better home buyingopportunity in 40 years.  However, not all people have the necessary confidence to make a major expenditure like a home purchase in an uncertain economic environment. More importantly, the underwriting standards are overly stringent. Those who are currently able to get conforming mortgages have an average credit score of 760. Under normal underwriting standards (and not the lax underwriting of the bubble years), credit scores would be closer to 720 on conforming mortgages. For FHA mortgages, today’s borrowers have an average credit score of 700, compared to historic FHA borrowers who had an average credit score of 660. If the underwriting standards were just to return to normal then there could be an additional 15 to 20 percent increase in home buying activity.

Banks have plentiful cash reserves but are unwilling to lend. They are blaming the regulators, saying extra cash holding is needed in case of another catastrophic economic event and because the banks are uncertain about future regulatory rules. Under these circumstances any additional attempts by the Federal Reserve to lower interest rates via another third round of Quantitative Easing (QE3) and printing more money would be inconsequential to the housing market. All the while, printing money could pose higher inflation risks in the not-too-distant future. Simply getting the excess cash holdings held by the banks out to the borrowers will be the true, natural stimulus for the economy.

To see the Housing Affordability Index numbers and read more articles, click here.

January 9 – 13, 2012

Articles:

“Low mortgage rates likely to continue through 2012, experts say”

But with high unemployment and home prices still falling in many areas, analysts say there is little chance for a housing recovery.

LA Times

“4 predictions about 2012 real estate market”

With 2012 upon us, many of us have set resolutions, goals or visions for what we would like to accomplish this year.  Here are 4 predictions about the real estate market we might want to take into account.

Inman News

“Bridging the great divide between home buyers and sellers”

With mortgage rates below 4% and prices near bottom in many markets, it’s a good time to buy a house. But many owners won’t sell because they can’t get the price they want.

LA Times                 

To download the articles from this segment, click on the following links

Low mortgage rates likely to continue through 2012

4 predictions about 2012 real estate market

Bridging the great divide between home buyers and sellers

December 2011 Micro Market Report will also be out this week so look for that to compare 2010 to 2011 and see how the market in your area finished in 2011.

Srivatsaa will speak on the “Power of Analytics,” a topic close to his heart, and will outline the insights from the creation of Teles Intelligence, a data analytics think tank that will launch in February 2012.

“Research and Analytics has been one of the foundational pillars of Teles since the very beginning,” said Peter Loewy, CEO of Teles Properties. “Sharran brings a unique background and skillset to take our offering to the next level with Teles Intelligence. We are excited that he is going to share his passion for the topic and his insights on the process with the leaders in our community at the Real Estate Connect Conference.”

Links to the conference:

• Conference Website
• Speakers
• Sessions and Agenda
• Twitter: @InmanConnect and #ICNY

About Teles Properties

Teles Properties was founded in Beverly Hills in 2007 by a group of real estate veterans who believed that there was a more modern and efficient way to represent residential real estate. Since then, Teles has proved itself to be a progressive, technology-oriented boutique real estate firm serving key markets in Los Angeles and Orange counties. With offices in Beverly Hills, Brentwood, Newport Beach and now Pasadena, Teles recently launched an International Division to link buyers to properties around the globe.

For more information, please contact Peter Hernandez at 424-203-1800.

To see the full list of the Top 20 Price Declining Zip Codes and read the rest of the arcticle, click here.

December 26-30, 2011

Articles:

“Housing Market Strengthening But Long Road to Recovery Lies Ahead ”

 The year 2011 is ending on a high note as economists anticipate some signs of recovery ahead. Prices appear to be reaching their trough, visible supply is on the decline, and banks are beginning – just slightly – to loosen lending standards […] however, these positive signs do not point to an immediate recovery

DS News

“Economists Don’t Foresee Home Price Appreciation Until After 2013 ”

Prices are forecast to decline until the market’s bottom is reached in late 2012 or early 2013. After 2013, the panelists expect a relatively steady annual appreciation rate of roughly 3 percent through 2016, which is slightly below appreciation rates experienced during the pre-bubble years.

DS News

“Scheduled foreclosure auctions soar in California”

Banks set the clock for forced sales of more than 26,000 homes in the state in November, a 63% increase from October. Overall foreclosure notices nationwide fell last month.

LA Times

“The Future of Real Estate?”

Enter a world where robots, holograms, and even time travel might well upend the business of buying and selling property, as we know it.

Realtor

December 12 – 16, 2011

Articles:

“Residential Housing Ready to Awaken?”

After half a decade of withering sales and slumping prices, there are strong and diverse signs that the single-family housing market is poised for a rebound.

CNBC

“Mortgage Rates Hold Near Record Low ”

Fixed mortgage rates in the U.S. again held near record lows over the past week, according to Freddie Mac’s weekly survey of mortgage rates.

Wall Street Journal

“Why Home Prices Are (and Aren’t) Stabilizing”

Home prices are falling again, but some analysts see a silver lining because the prices of homes that aren’t selling out of foreclosure have been holding steady.

Wall Street Journal

“Lower Credit Scores Slow Housing Recovery by Thwarting Sales”

Many Americans’ credit scores have fallen because of economic distress in the last few years. It’s probably affecting their ability to get a new mortgage or buy a house

Los Angeles Times

To download the articles from this segment, click on the following links:

Residential Housing Market Ready to Rebound

Mortgage Rates Hold Near Record Low

Why Home Prices Are (and Aren’t) Stabilizing

Lower Credit Scores Slow Housing Recovery by Thwarting Sales

November 28 – December 2, 2011

 Articles:

“Should I Take My Home Off The Market During The Holidays?”

Taking your home off the market during the Holiday season might be a big mistake… learn why!

Realty Times

“Take Advantage of Expiring Tax Deductions”

There are several tax credits and deductions set to expire at the end of the year, and given the federal deficit problem, there’s a good chance they won’t be extended. If you want to take advantage of them, you need to act before Jan. 1, 2012.  Learn which ones they are here…

Inman News

“Stronger Lure for Prospective Home Buyers”

Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years and is less expensive than renting in a growing number of cities…

Wall Street Journal

“Investors Increase Market Share, Especially in Distressed Sector”

Investors are making up an increasing share of home purchase transactions, especially in the distressed sector. In October, investor purchases accounted for 22.3 percent of transactions…

DS News

 
To download the articles from this segment, click on the following links:

Should I Take My Home Off The Market During The Holidays

Take Advantage of Expiring Tax Deductions

Stronger Lure for Prospective Home Buyers

Investors Increase Market Share, Especially in Distressed Sector

Following up from “Inside the Market” on November 10th- one of the reason we continue to see international buyers in the marketplace is because Southern California is one of the most desirable places to live.  Owning a home here is one of the best investment someone can make- as there will continue to be demand to live where we live.  The following articles highlight why owning a home is so great and what we have to look forward to in the housing market.

November 14- 18, 2011

Articles:

“U.S. Will Remain a Nation of Homeowners”

There are too many benefits, both financial and otherwise, to owning a home versus renting.  The U.S. will continue to see demand for home ownership…

National Association of Realtors

“Housing to gradually improve in 2012, NAR economist says”

Gradual improvement in the housing market is expected next year, with existing-home sales edging up 4% to 5% and new home sales getting an even bigger boost off this year’s record lows, according to the National Association of Realtors’ chief economist, Lawrence Yun…

Housing Wire

“Five Great Things About Home Ownership”

If you’ve been on the fence about homeownership, now is the time to take a leap! Don’t let the negative press deter you from one of life’s greatest joys.  Here are five short and sweet reasons that homeownership is great…

Realty Times

If you would like to download a PDF of these articles, please click on the following links:

U.S. Will Remain a Nation of Homeowners

Housing to gradually improve in 2012, NAR economist says

Five Great Things about Homeownership

November 7- 11, 2011

Articles:

“Mortgage Rates Below 4% for Second Time”

For the second time in history, average rates on 30-year fixed-rate mortgages fell below 4%.  What does this mean for your buyers…

Wall Street Journal

“Banks’ foreclosure activity picks up in October”

Banks increased foreclosure activity in October, filing actions on 230,678 U.S. homes, which is a 7% increase over September.   24%, or more than 55,000 were in California…

Los Angeles Times                 

“Housing Could Be Key to Stronger US Rebound”

An emphasis on healing the housing sector by officials at the Federal Reserve reflects the view that a healthier real estate market would go a long way in strengthening the economy…

CNBC

October’s Micro Market Reports out next week.