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Posts Tagged ‘respondents’

Survey Says: Housing Market Perception Improves

June 10th, 2013 Comments off

HousingWire reports a survey by Fannie Mae reveals ten percent more respondents in May than the previous month said it is a good time to sell a house, while five percent more said it is a better time to buy. Doug Duncan, chief economist at Fannie Mae, noting those who say it’s a good time to sell marked the highest increase in the survey’s three-year history, says, “This jump may foreshadow a gradual return to more normal levels of housing supply from their lows of recent months. In turn, increased housing supply could serve to temper increasing consumer home price expectations.” Forty-six percent say mortgage rates will rise, while 48 percent say rental rates will increase in the next six months. Meanwhile, as MHProNews has learned, 50 percent think it would be difficult for them to obtain a mortgage.

(Image credit: HousingWire)

Credit Unions to Reduce Lending

May 20th, 2013 Comments off

The nationalmortgagenews reports in a survey of credit unions responding to the QM Rule issued by the Consumer Financial Protection Bureau (CFPB), 44 percent say they will no longer originate non-qualified mortgages and another 44 percent will reduce originations. In the survey conducted by the National Association of Federal Credit Unions (NAFCU) and CU Monitor Survey, 51.2 percent say they have begun adhering to the new rules in anticipation of the Jan. 2014 implementation date; 37.5 percent originated loans in 2012 that would not meet the QM criteria. The 76.2 percent of respondents that service mortgages expect the CFPB’s mortgage servicing requirements to run around $10k in initial costs and ongoing expenses, while 11.5 percent expect initial setup above $50k. Of the 23.3 percent who applied for a waiver 89 percent were granted, but 41.7 percent say the process was difficult. As MHProNews reported here May 16, in a speech to the National Association of Realtors (NAR), CFPB Director Richard Cordray said credit unions have a tradition of making good loans that may not qualify under the QM Rule, and they should continue doing so with borrowers that present a reasonable risk.

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Survey Says: Home Values to Rise over 20 Percent

March 18th, 2013 Comments off

According to nationalmortgagenews, the first-quarter Zillow home price expectations survey reveals that 118 economists, real estate specialists, investment and market analysts believe home prices will rise this year 4.2 percent and hit 22 percent over the next five years, exceeding pre-bubble rates by 2017. While the most optimistic respondents say growth will hit 6.1 percent this year, the pessimists say it will be more around three percent. Similarly, the most positive forecasters say home values will rise 34.2 percent through 2017, as opposed to the hesitant who predict an increase of only 11.7 percent. MHProNews has learned when panelists were asked the time frame necessary to take down the Fannie Mae and Freddie Mac shingle, 59 percent suggest within five years, 13 percent say two years, and ten percent say not for at least ten years.

(Image credit: HousingWire)

Survey: The Dream is Alive!

March 18th, 2013 Comments off

HousingWire informs MHProNews that 87 percent of the respondents in a recent survey by JPMorgan Chase say home ownership remains part of their dream. Seventy-five percent envision owning a home as crucial to raising a family, and 66 percent believe it is a good investment. Compared to six months ago, almost twice as many first-time possible home-buyers believe they will be able to put money down on a house in the coming six months. Over half of the respondents expect their financial situation to improve within that time frame.

(Image credit: Fotosearch)

 

MH Siting Discussion Continues

February 15th, 2013 Comments off

Following up on a story MHProNews posted Jan. 22, 2013 in which the Magnolia (Ark.) Planning Commission placed a temporary moratorium on the siting of MH in the town, the commission has scheduled a meeting to continue discussion for Monday, Feb. 18 in the City Council Chambers. A survey of respondents last month indicated by two-thirds majority townsfolk want more regulation of manufactured homes outside of communities. The magnoliareporter says the Arkansas Manufactured Housing Association’s executive director J. D. Harper will address the commission.

(Photo credit: gfhomesandland)

Home Ownership Sentiment Still Strong

February 12th, 2013 Comments off

AOLRealEstate reports a survey by Prudential Real Estate reveals 77 percent of the respondents 25-34 and 78 percent of those 35-44 see homeownership as very important as the recession fades into history. Eighty-five million Generation Xers and Millennials, many of whom were not impacted by the housing bubble, are generally optimistic about owning a home and share a strong sense of community. The survey further indicated 63 percent have a positive view of the real estate market, and the number who considered entering the market, but did not, rose ten percent in the second six months of 2012 compared to the end of Q2 2012. As MHProNews has learned, many consumers are wisely cautious about trying to buy, with 72 percent saying they want a lender they can trust.

(Image credit: Fotosearch)

Renters on the Rise

February 6th, 2013 Comments off

The nationalmortgagenews tells MHProNews in true supply and demand fashion, the apartment vacancy rate fell to 4.5 percent, it’s lowest level in more than a decade, says Apartments.com, while rents rose 3.8 percent from a year earlier. In a survey of over 1,300 renters, the number of previous homeowners who now choose to rent rose from 33.6 percent in 2012 to 35.1 percent at the beginning of 2013. Respondents cited employment relocation, cost savings, and homeownership expense as reasons for renting, with 14.2 percent stating they are unable to keep up with the costs of homeownership, a rise from 10.5 percent in 2012. Due to economic hardship, 15 percent of the respondents would relocate for employment opportunity while 13.2 percent are currently in the market for a less expensive apartment.

((Photo credit: Homes-for-Rent)

Planners may Tighten Siting of MH

January 22nd, 2013 Comments off

The magnoliareporter informs MHProNews from Arkansas the Magnolia Planning Commission placed a temporary moratorium on the siting of manufactured housing in the town, following a survey in which approximately two-thirds of the respondents favor more regulation of manufactured homes. One third of those surveyed say the government has no business in making decisions about MH. Based on the survey results, the commission may more stringently regulate them.

(Photo credit: Riley Homes)

Survey Predicts Good News for 2013 Housing

January 4th, 2013 Comments off

According to BloombergBusinessWeek‘s survey of 15 economists and housing analysts, existing home sales will increase 7.2 percent in 2013 to 4.98 million, the most since 2007. Prices will move up 3.3 percent this year, a slight retreat from the 4.5 percent rise in 2012. The loss of inventory in 2012 will lead to a 24 percent spike in single and multifamily housing starts this year of 967,000 units, again the best number since 2007. These are median estimates of the respondents polled. MHProNews has been informed 17 analysts have predicted 448,000 new single-family houses will be sold in 2013, an increase of 23 percent. Mark Kiesel, of Pacific Investment Management Co. in Newport Beach, Calif., who predicted the 2006 bursting of the home price bubble, says, “Residential investments potentially could grow between 20 percent and 30 percent” in 2013, adding as much as 0.75 percent to U.S. gross domestic product growth.

(Photo credit: BloombergBusinessWeek)

Brokerage: Sales, Prices Stronger in 2013

December 17th, 2012 Comments off

Real estate brokerage Redfin of Seattle says survey results indicate there will be strong consumer demand for homes starting in early Jan., and combined with low inventory should keep prices rising. According to originationnews, the number of people looking for a new home who expect the price to rise has more than doubled since the first quarter of the year. The Q4 survey shows 71 percent of the respondents believe prices will rise in the coming 12 months as opposed to 34 percent in Q1, 2012. Almost 60 percent say now is a good time to buy because the interest rates are low, the prime motivating factor to buy. MHProNews has learned the survey showed only five percent are concerned about the fiscal cliff and the possible loss of the mortgage interest deduction.

(Image credit: etftrends)