reportonbusiness.com: Signs of life in U.S. housing market

If you blinked you may have missed it. But on a day that featured another batch of dreadful U.S. economic data, there was a tiny sliver of light: U.S. mortgage applications rose last week.

Actually, soared is more like it. According to the Mortgage Bankers Association, its index of applications to refinance or take out new loans leaped 112 per cent from the previous week – the biggest increase on record – as borrowers rushed to lock in lower mortgage rates.

So does this mean the housing market is poised for recovery? Not likely. But it does show that the government’s efforts to stimulate consumer lending are having the desired effect. Besides, it’s about the only piece of positive news out there, so let’s dig a bit deeper and see what it means.

via reportonbusiness.com: Signs of life in U.S. housing market.

Tampa-St. Pete existing home sales up 11% in October – Tampa Bay Business Journal

Existing single-family home sales in the Tampa-St. Petersburg-Clearwater market were up 11 percent in October as sales prices become more manageable for the typical buyer.

The Tampa-St. Pete area closed on 2,021 homes in October compared to 1,814 a year ago, and was below the 15 percent average statewide, according to numbers released Monday by the Florida Association of Realtors. Median sales prices were down 26 percent from $205,600 in October 2007 to $152,300 last month.

via Tampa-St. Pete existing home sales up 11% in October – Tampa Bay Business Journal:

The Best Day of the Year to Buy Real Estate | About.com

I would say every day especially in this market, but I guess not. Spread the word!

When is the best time of the year to buy a home? There are at least two days of the year that give buyers the edge. Would you like to guess which two days are best for buying a home?

Every spring, as tulips struggle to poke through melting snow in the North and rosebuds cautiously open in Southern climes, sure as tootin’ real estate signs begin multiplying like bunnies across the country. Soon as the For Sale signs are mounted on the posts, swarms of activity buzz in the streets as sellers, buyers and real estate agents crawl out from wherever they hibernated for the winter to welcome the spring sales season.

There is nothing like a spring real estate market. Offers fly over FAX machines and cell phones ring constantly. Everybody wants a deal, and everybody wants to sell. Typically the marketplace is flooded with inventory. There is more on the market in the spring than any other time of the year.

Read the rest here: Best Time To Buy a Home – When is the Best Time to Buy a Home? – The Best Day of the Year to Buy Real Estate

OBVIOUS: Florida homes not so expensive compared to western states

Is it just me, or is this not common knowledge? I’m all about putting out positive information, but they reference Ormond Beach and Key West in this article. Were they on vacation writing this stuff? There’s gotta be a nice, fat expense report on someone’s desk. I’m sure of it. To wrap up the article, the compare our home prices to Dubai and Ecuador. Huh?!

A lot may be said about home prices in Florida, but when Coldwell Banker decided to compare the state with the rest of the nation, Florida is pretty much in the middle of the pack.

The most affordable homes in Florida are located in Ormond Beach at $201,233, while the most expensive homes can be found in Key West, where an average price is $818,239.

Florida homes not so expensive compared to western states – Tampa Bay Business Journal:.

Study suggests buying over renting in Tampa

The rent-versus-own debate rages on, but at least one affordable housing group suggests its probably better to buy than to rent in Tampa.

The National Low Income Housing Coalition and the Center for Economic and Policy Research evaulated the nations 100 most populous cities. It grouped Tampa among 66 metro areas where buying will make you wealthier than renting through 2012.

For the rest of the story, click here: UnReal Estate.

Home Prices Start to Show Signs of a Turnaround

C? NoBody Cares.

I skimmed through this article about as quick as I usually flip past CNBC on my TV, but every piece of good news helps, right? They basically don’t say much that you wouldn’t already know, although the one thing that automatically discredits this article to me is the use of California as a national barometer. California might as well be located somewhere near Equatorial Guinea (thx Olympics!) in terms of real estate comparisons because the market there is much more tumultuous than the rest of the country. Every bit of light that you can shine at the end of the tunnel helps, so read the article and use at your own discretion.

Speaking of which, I couldn’t bring myself to click on the video of the guy who thinks he has the answer to fix the “housing mess”, but you might be a braver person than I.

 

CNBC: Home Prices Start to Show Signs of a Turnaround