The up and down pace of sales that characterized the second half of 2010 appears to be ending on a high note.
The National Association of REALTORS® reports that existing home sales during November rose 5.6 percent over the previous month.
Provided By MyKW
Even though November 2010 sales are still 27.9 percent below November 2009 – the initial deadline for the first-time homebuyer tax credit – NAR chief economist, Lawrence Yun, notes, “Continuing gains in home sales are encouraging, and the positive impact of steady job creation will more than trump some negative impact from a modest rise in mortgage interest rates, which remain historically favorable.”
He adds, “The relationship recently between mortgage interest rates, home prices and family income has been the most favorable on record for buying a home since we started measuring in 1970.Therefore, the market is recovering and we should trend up to a healthy, sustainable level in 2011.”
Showing posts with label NAR. Show all posts
Showing posts with label NAR. Show all posts
Thursday, January 13, 2011
Friday, July 3, 2009
NAR's response to problems with appraisals
To: All REALTORS®
From: Charles McMillan, 2009 NAR President
Re: AppraisalsDear Fellow REALTOR®
During the past two months, we have heard from many of you regarding problems with appraisals that are causing deals to be delayed or canceled altogether. I assure you that we on the NAR Leadership Team are experiencing the same problems in our businesses. In fact, VP & Liaison to Committees Steve Brown recently shared his experiences in Ohio on the Voices of Real Estate
blog.http://narblog1.realtors.org/mvtype/president/2009/06/all_is_not_quiet_on_the_midwes.html
Let me update you on what NAR is doing to resolve these problems quickly.
On Monday, June 29th, I will be in New York to meet with the Deputy Attorney General and his staff who worked directly on the Home Valuation Code of Conduct. I plan to share our concerns, as well as your stories, and ask for their assistance in resolving any problems related to the HVCC.
On Tuesday, June 30th, I will travel to Washington, D.C., to meet with the Director of the Federal Housing Finance Agency to discuss ways we can work with Fannie Mae, Freddie Mac and lenders to ensure that appraisals are accurate.
We will keep you posted on the outcome of these meetings. In the meantime, I encourage you to check out the following resources on Realtor.org for more information on the HVCC and how appraisal problems are impacting the real estate market:
Economists Podcasthttp://www.realtor.org/research/research/research_podcast062309?LID=RONav0021
HVCChttp://www.realtor.org/government_affairs/gapublic/gses_hvcc_announced
Appraisal Bloghttp://narblog1.realtors.org/mvtype/appraisalinsight/
On behalf of the entire Leadership Team and staff, I thank all of you who have shared your experiences and concerns with us. With your continued participation, I believe we will overcome this challenge in much the same way as we have conquered others – "United Toward Tomorrow."
From: Charles McMillan, 2009 NAR President
Re: AppraisalsDear Fellow REALTOR®
During the past two months, we have heard from many of you regarding problems with appraisals that are causing deals to be delayed or canceled altogether. I assure you that we on the NAR Leadership Team are experiencing the same problems in our businesses. In fact, VP & Liaison to Committees Steve Brown recently shared his experiences in Ohio on the Voices of Real Estate
blog.http://narblog1.realtors.org/mvtype/president/2009/06/all_is_not_quiet_on_the_midwes.html
Let me update you on what NAR is doing to resolve these problems quickly.
On Monday, June 29th, I will be in New York to meet with the Deputy Attorney General and his staff who worked directly on the Home Valuation Code of Conduct. I plan to share our concerns, as well as your stories, and ask for their assistance in resolving any problems related to the HVCC.
On Tuesday, June 30th, I will travel to Washington, D.C., to meet with the Director of the Federal Housing Finance Agency to discuss ways we can work with Fannie Mae, Freddie Mac and lenders to ensure that appraisals are accurate.
We will keep you posted on the outcome of these meetings. In the meantime, I encourage you to check out the following resources on Realtor.org for more information on the HVCC and how appraisal problems are impacting the real estate market:
Economists Podcasthttp://www.realtor.org/research/research/research_podcast062309?LID=RONav0021
HVCChttp://www.realtor.org/government_affairs/gapublic/gses_hvcc_announced
Appraisal Bloghttp://narblog1.realtors.org/mvtype/appraisalinsight/
On behalf of the entire Leadership Team and staff, I thank all of you who have shared your experiences and concerns with us. With your continued participation, I believe we will overcome this challenge in much the same way as we have conquered others – "United Toward Tomorrow."
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