My clients and friends on Facebook are Amazing! Thank you once again!
One more sign of Real Estate market improvement. ....
Builder Confidence Rises Across the U.S. Builder confidence in the market for new, single-family homes rose two points in August, bringing the National Association of Home Builders/Well...s Fargo Housing Market Index to its highest score since the beginning of 2014.
NAHB surveys builders across the country and asks them to rate their sales expectations for the next six months, their confidence in current single-family home sales, and their perceptions of prospective buyer traffic.
“Each of the three components of the HMI registered consecutive gains for the past three months, which is a positive sign that builder confidence appears to be firming,” NAHB chief economist David Crowe said in a statement.
Builder confidence in current sales conditions rose to a score of 58, while expectations for future sales rose to 65. The third index, which gauges expectations for prospective buyer traffic, hit 42.
Scores rose regionally, as well, with the Midwest experiencing the biggest point increase from 48 to 55. The Northeast’s score, which is the lowest in the country, rose from 36 to 38. The HMI score in the South rose by just one point to 52, while the West’s score went up to 56.
The overall increase in the HMI index can be attributed to factors including sustained job growth, historically low mortgage rates, and affordable home prices, Crowe said. Source: NAHB
Century 21 Alpha Rick Funk 34 years of service to my clients / friends for all their Real Estate needs.
(408)629-6099 C21Funk@aol.com WWW.RickFunk.com
OVER 2000 LIKES!
Amazing and wonderful response to Century 21 Alpha Rick Funk Business Page. Over 2000 Facebook Likes and so many friends and clients utilizing today's technology to stay current with the ever changing Real Estate market. Thank you again for all your support and continued business.
Rick Funk
Rick Funk
Just listed: 472 CURIE DRIVE SAN JOSE CA 95123
OPEN HOUSE SATURDAY 12:00P.M. - 4:00 P.M. AUGUST 16TH.
Welcome home to this beautifully upgraded and customized home.
This fine home boast 3 good size bedrooms including the generous Master bedroom plus a den study, and 2&1/2 baths. Central A/C & heating make this home warm in the winter and cool in the summer. Cozy and warm fireplace in the family room, plus double pane windows through out. updated roof and 2 car garage are an added bonus. You’ll love the fact that this hme backs to foothills with neighboring homes giving you an unobstructed view of the foothills and open area. A neat and trim landscaping theme with 2 separate patios front and rear yards lends it’s self to so many peaceful activities for you and your family. Great schools, neighbors, shopping, dining, with access to nearby 2500 acre Santa Teresa country park & Golf course. The separate living, dining, breakfast nook, and completely upgraded and remodeled kitchen make for a wonderful floor plan for the large family or anyone that just likes living in style.
Recap of features:
3/4 bedrooms. Large master suite with step up setting area. Den/loft can be converted back to 4th bedroom.
Backs up to Santa Teresa foothills.
2 & 1/2 generous baths & inside utility area.
2,256 Sq. Ft. per builder & county records, “not confirmed by agent.”
2 car garage.
Sumer fun-in-the sun swimming pool
Updated central heating and central A/C.
7,410 Sq. Ft. lot per county records, “not confirmed by agent.”
Upgraded roof, heating, AC/Heating unit
Remodeled kitchen & baths
Separate living, dining, breakfast areas.
Near Buck Nord Stables/Santa Teresa Park & Golf course.
Asking price $820,000
Any questions: Call Rick Funk (408)629-6099
WHO DOES IT BETTER THAN US? NO BODY!
This Company Ranks Highest in Customer Satisfaction2014-08-07
Daily Real Estate News | Thursday, August 07, 2014
...
Century 21 fetched the highest rankings in customer satisfaction among real estate brokerages evaluated in the newly released J.D. Power 2014 Home Buyer/Seller Satisfaction Study. Last year, Prudential came out on top.
The latest J.D. Power survey, now in its seventh year, measures customer satisfaction among first-time and repeat home buyers and sellers across four factors: agent/salesperson; real estate office; closing process; and several additional services. For sellers, the survey also takes marketing into account.
"Satisfying first-time buyers is critical for real estate firms to differentiate themselves. It's up to the agent to build confidence in buyers by educating them and demonstrating a commitment to working in the best interest of the customer," says Christina Cooley, director in the diversified services industries practice at J.D. Power. "First-time buyers need clear communication and want to be walked through the purchase process every step of the way. Agents can serve as the lead on necessary steps, services, and offerings, such as appraisals, inspections, and home warranty. The more seamless the experience, the less overwhelmed customers are likely to be. When agents take the lead, customers are also more likely to appreciate their real estate firm and agent for their expertise and customer focus."
The study, which surveyed 5,000 customers who bought or sold a home between March 2013 and April 2014, found that overall customer satisfaction with real estate companies is highest among repeat customers compared to first-time buyers or sellers. The study also found that buyers and sellers most commonly choose a real estate firm based on the following criteria: reputation (30% buyers vs. 35% sellers); past experience with the agent/salesperson (21% vs. 25%); and/or recommendation (24% vs. 21%).
Companies First-Time Buyers Are Most Satisfied With
1. Century 21
2. Prudential
3. RE/MAX
Century 21 performed particularly strong in the agent/salesperson and real estate office categories, while Prudential received high marks on the closing process.
Repeat Home Buyers
1. Century 21
2. Prudential
3. Coldwell Banker
Century 21 topped this category with the highest overall satisfaction from repeat buyers, receiving high marks for its real estate office and closing process.
First-Time Home Seller
1. Century 21
2. RE/MAX
3. Prudential
Century 21 performed strongest in the categories of real estate office, closing process, and marketing. RE/MAX got the highest marks from first-time home sellers for agent/salesperson and real estate offices.
Repeat Home Seller
1. Century 21
2. Keller Williams
3. RE/MAX
Century 21 received the highest marks in agent/salesperson, closing process, and marketing. Keller Williams nabbed the highest ratings for real estate offices.
Source: J.D. Power 2014 Home Buyer/Seller Satisfaction Study
No body, but No body does it Better than Us at Century 21!
Call me today let me prove it to you!
Rick Funk Century 21 Alpha for over 34 years.
(408)629-6099 or C21Funk@aol.com
WWW.RickFunk.com
13 States Soar to New Home-Price Highs:
More than a dozen states saw home prices accelerate in June to record-level highs, according to CoreLogic’s latest Home Price Index, which dates back to January 1976.
Those states are:
...
• Alaska
• Colorado
• District of Columbia
• Iowa
• Louisiana
• Nebraska
• North Dakota
• Oklahoma
• South Dakota
• Tennessee
• Texas
• Vermont
• Wyoming
Year-over-year home prices were up in every state, except Arkansas, which posted a 0.4 percent decrease in home prices in June, CoreLogic reports. But excluding distressed sales, all states experienced year-over-year rises in prices, according to the report.
Michigan led the nation with the highest home appreciation year-over-year at 11.5 percent, followed by California with an 11.3 percent rise and Nevada at 11.1 percent.
“Home prices are continuing to rise fueled by ongoing tight supply, low rates, and aggressive investor buying on the East and West Coasts,” says Anand Nallathambi, president and CEO of CoreLogic. “The expected surge in the number of homes for sale has not materialized to date as many home owners are staying put and waiting for better economic times and higher prices in the future.”
Overall, CoreLogic’s index shows that nationwide home prices rose 7.5 percent year-over-year in June, marking the 28th consecutive month for year-over-year increases. Still, including distressed sales, nationwide home prices remain 12.9 percent below the peak reached in April 2006. On a month-over-month basis, home prices nationwide ticked up modestly at 1 percent in June.
“Home price appreciation continued moderating in June with its slight month-over-month increase,” says Mark Fleming, chief economist for CoreLogic. “This reversion to normality that we are finally experiencing is expected to continue across the country and should further alleviate concern over diminishing affordability and the risk of another asset bubble.” Source: CoreLogic
Rick Funk Century 21 Alpha for more than 34 years!
WWW.RickFunk.com
C21Funk@aol.com
(408)629-6099
Just for fun, I thought you might like to know this.......
San Francisco Homes Hit Million-Dollar Median Milestone:
For the first time in the city’s history, the median selling price for houses and condos in San Francisco reached seven f...igures.
“It certainly is a milestone. It’s like ‘wow!’” Betty Taisch, San Francisco Association of REALTORS® president, told the Associated Press about San Francisco hitting the million-dollar median mark.
Luxury Sales Heat Up Across the Country. But a $1 million home in San Francisco also won’t fetch buyers the fancy mansion on a lavish estate it would elsewhere. Instead, home buyers in the Bay Area are finding they’re having to pay $1 million for an 800-square-foot starter home that may need work and may not even come with private parking, the Associated Press reports.
Behind the city’s bustling real estate activity is the rapid growth in its technology industry as well as its 49-square-mile constrained supply of housing.
The San Francisco Bay Area had a record number of homes and condos listed for $1 million and above between April and June, accounting for one-quarter of all sales in the region, according to CoreLogic DataQuick, a housing data provider. In fact, six of the Bay Area’s nine counties set records for the number of homes and condos that sold for more than $2 million (California as a whole also did), according to the report.
"The robust tech economy and the overall economy mean the Bay Area has been doing better than most for years now," says Andrew LePage, an analyst with CoreLogic DataQuick. "It already was expensive, and a lot of these high-end markets weren't hammered as hard during the downturn because they weren't exposed to subprime mortgages, so they had less ground to recover in the first place."
George Limperis, an agent with Paragon Real Estate Group in San Francisco, told the Associated Press that technology millionaires are helping to bid up properties and are making all-cash offers, which is driving up demand. But unlike the city’s tech boom in the late 1990s, buyers are more prepared to pay more than $1 million for a fixer-upper, he says. Also, international interest in the city has flooded into the housing market, also lifting home prices and competition.
"Everyone is aghast at what these things sell for, but as long as the economy keeps going it like it does, these numbers do make sense," Limperis says. Source: “San Francisco Median Home Price Hits $1M, Won’t Buy Much,” The Associated Press (July 31, 2014)
Call Me today, Rick Funk Century 21 Alpha
and I'll make you feel like a Million Dollars....
C21Funk@aol.com
WWW.RickFunk.com
(408)629-6099
If you thought you couldn't qualify for the purchase of a home, check this out.
Lender to Ease Standards for Some Borrowers:
A mortgage company with licensed lenders in 42 states has launched several mortgage products to loosen up under...writing standards in an attempt to capture the pent-up demand for higher-risk loans.
Impac Mortgage Holdings Inc. is writing loans that fall outside certain limits set by Fannie Mae and Freddie Mac, as well as some Consumer Financial Protection Bureau rules that were created to discourage reckless lending, the Los Angeles Times reports.
One of Impac's new programs allows borrowers to devote up to 50 percent of their income to cover housing costs and other debts, instead of the typical 43 percent. Other new lending programs from Impac are available to borrowers who are unable to get a conventional loan, such as entrepreneurs with complex and fluctuating finances, investors who own multiple homes, or foreign buyers purchasing mansions with jumbo loans up to $3 million.
"The pent-up demand for loans like this is tremendous," William S. Ashmore, Impac's president, told the Los Angeles Times.
The mortgages are hybrid loans, where rates are fixed for the first five, seven or 10 years before resetting and becoming variable. The interest rates are usually between 5 percent and 8 percent, depending on the perceived risk of the borrower. Borrowers must be able to give at least a 20 percent down payment and have credit scores of 680 or higher. The bank says it will be flexible in using bank statements (instead of pay stubs and tax returns) to verify that small business owners can repay loans.
Some housing experts say they're wary of lenders such as Impac easing some of the underwriting rules. High-risk loans "fueled the mortgage and foreclosure crisis," says Kevin Stein, the associate director of the California Reinvestment Coalition, an organization that advocates for fair banking and financial services for low-income communities.
Impac says it will retain partial ownership of the loans it sells. Source: "Impac Mortgage Rolls Out Loans with Easier Qualifying Terms," Los Angeles Times (Aug. 1, 2014)
For your no hassle, free, meeting to review your qualifying potential just call me:
Rick Funk Century 21 Alpha
WWW.RickFunk.com
C21Funk@aol.com
(408)629-6099
Renters Feel Pinch as Landlords Raise Rents Again:
The average monthly rent for an apartment increased in the most recent quarter to $1,099, up 0.8 percent from the first quarter of this year and up 3.4 percent year over year, according t...o Reis Inc., a real estate research firm. It marked the 18th consecutive quarter for rent rises at a time when income growth has mostly been stagnant.
All 79 U.S. metro areas that Reis tracks saw an increase in effective rents, with coastal cities posting some of the highest rent growth in the past year. For example, rents rose more than 6 percent in the past year in San Francisco, San Jose, and Seattle, according to Reis. Other metros not usually associated with high rent increases also saw a rise, such as Charleston, S.C., and Nashville, Tenn., which each saw rents increase about 5 percent or more in the past year.
"You have definitely seen that recovery now spread to all of the major markets around the country, even if some of them were laggards," Ryan Severino, an economist at Reis, told The Wall Street Journal. "It's a very pervasive recovery."
While rents have been rising, household incomes have mostly been stagnant. The median household income in 2012 was $50,017, compared to the 2007 peak of $55,627, according to U.S. Census data.
Some relief may be in sight for renters soon. Apartment vacancies in the second quarter were unchanged nationwide at 4.1 percent in the second quarter, which could signal that supply is starting to catch up with demand. The market is expected to add 180,000 multifamily units this year, according to Reis.
"We think new supply will self-correct rising rent," Stephanie Karol, an economist at HIS, told The Wall Street Journal. "It will be a continuous process of easing over the next few years." Source: “Apartment Rents Rise as Incomes Stagnate,” The Wall Street Journal (July 2, 2014)
STOP RENTING & START OWNING NOW!
Century 21 Alpha Rick Funk
C21Funk@aol.com
WWW.RickFunk.com
(408)629-6099
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