January 2014

Found 17 blog entries for January 2014.

Rates Improve Slightly On Instability in Emerging Markets.

By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report.

Mortgage interest rates improved slightly again this past week on instability in emerging markets.  Money has sought safe haven in Treasuries as currencies in India, Turkey, South Africa, Argentina, and Brazil have fallen on the heels of the Fed beginning to taper its Treasury and Mortgage Backed Security purchases in December.  At the conclusion of its FOMC meeting this past week the Federal Reserve continued to taper its bond purchases by an additional $10 billion per month down to a total of $65 billion per month.  Economic data was mixed.  Economic data stronger than expected included the November

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Adapted from the Shirmeyer Rate Market Report.

 

The past week of selling in the stock market has caused some to re-think the Fed’s tapering this week. Given the volatility and the crumbling in emerging markets’ currencies, and China’s and India’s economic outlook anything is possible now. It should not be a surprise that when the Fed started to remove support that it would set up a number of issues, especially in emerging markets. If the Fed does not taper again the policy statement must be framed in a manner that makes it clear the Fed is holding back for global reasons and not because it has changed its economic growth outlook for the US. If markets think the Fed is waggling on its growth forecasts the stock market and bond markets will turn to

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By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report

Once again making decisions based on how markets are actually performing instead of what economists and analysts are talking about proves to be the only way to trade any market as far as near term decisions. Recently the 10 and MBS markets have churned within very tight ranges but, at least based on how we view technical indicators and our trading models, everything remained bullish, albeit slightly. It has been a grinder to float and yesterday afternoon after the selling through the session we finally decided to lock. For the bond and mortgage markets to continue to improve the stock market would have to decline; this week after slipping slightly on Tuesday and

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By Duane Duggan Colorado Association of REALTORS NE District Spokesperson

The Northeast district covers a wide variety of markets from Boulder, Louisville, Lafayette, Estes Park, Longmont, to Sterling.

Remember all real estate is local, down to the neighborhood and sometimes even the specific street. Keep that in mind when reviewing these overall stats.

Key market indicators showed the market trending toward a seller’s market in 2012. At the completion of 2013, key market indicators are showing an even stronger sellers market.

New listings in the Northeast district are up 11.7 in 2013 compared to 2012. However, solds are up 17.4 creating low inventory situations in most market segments, leaving only a 2.8 month supply of homes.Dropping below a

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By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report

Treasuries and mortgages opened weaker this morning after a nice little rally last Friday. In a front page, above the fold article this morning the Journal points out that the Fed will likely continue to taper when the FOMC meets next week (28th and 29th), the last meeting chaired by Ben Bernanke. Not much new in the article, and likely just a filler in an otherwise lack luster news weekend; but it opens the door for thought on the outlook that in the minds of a few was clouded by the December employment report. On the weak job growth in the December employment report, no one at the Fed believed the data, nor did most of the market believe it. The members of the FOMC

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Our Managing Broker, DB Wilson, presented his annual year end statistical review of the real estate market. DB breaks down the market down from a national, local, and office level. We will be highlighting some of our more notable numbers from 2013, it was a damn fine year for our Canyon office.

RE/MAX of Boulder Canyon ended last year with 732 listings and 683 sales, which combines for 1,415 residential single family and attached dwelling transactions in the Boulder and Broomfield counties. That's 133% more than our next closest competitor. Moreover, according to BrokerMetrics, a third party real estate data compay, RE/MAX of Boulder Canyon owns nearly 16% of the residential Boulder County market in terms of Total $ Volume by office.

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Four months afer the natural disaster, RE/MAX of Boulder's Duane Duggan evaluates the post-flood real estate market in Boulder County and offers some tips for prospective sellers and buyers. 

Future home sellers

• Homeowners should document the events of the great flood of 2013 relative to their home

• Pictures of a dry home are great!

• Document any flooding or seepage that occurred-Whether it was ground water seepage, flowing

river water, or backed up sewage.

• Document was done to clean it up, to share with future buyers.

• The worse the flooding situation was, the more important it is to have a professional company

doing the clean up work.

• A structural report to survey any possible damage to the foundation might be in

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By Duane Duggan 

1. Housing starts are less than needed based on population growth. Builder’s are having difficulty starting up again after many trades have left the industry.

2. The national population is increasing because of immigration and births.Also, the echo boomer (kids of the baby boomers) wave is hitting.

3. Boomerang buyers—lost their home to foreclosure, but now back in the market to buy.

4. Dormant sellers-sellers who haven’t heard the market is better and are reluctant to put their home on the market.

5. Values haven’t caught up with the loan amounts to create enough equity to allow a move.

6. People are staying in their homes 9 years on the average instead of the previous average of 5 years.

7. New Household formation

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Though December’s real estate statistics for the Boulder area reflected the slow season in month-to-month sales, they also showed continued resilience compared with a year ago.

Single-family home sales improved to 243 in December 2013 compared with 235 in December 2012, an increase of 3.4 percent. However, December sales were down 7.2 percent compared with the 262 units that sold in November.

The condominium/townhome sales were consistent with those a year ago, with 85 units selling in December compared with 84 in December 2013, and remained unchanged from November.

Ken Hotard, senior vice president of public affairs for the Boulder Area Realtor® Association, says the sales statistics are consistent with what’s expected for this time of year.

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By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report

In early trade, prior to 8:30, the 10 unchanged, MBS prices +5 bp and the US stock indexes slightly weaker. December housing starts and permits at 8:30; starts were expected to have declined 9.2% to 986K units, permits up 0.8% at 1.00 mil. Starts were reported down 9.8% while permits a little lower, -3.0%. In terms of numbers starts were better than 986K expected at 999K after November starts were revised higher to 1.11 mil. Applications for building permits were lower to a 986,000 pace in December, less than the projected 1.00 million. For all of 2013, builders began work on 923,400 homes, up 18.3% from the prior year and the most since 2007’s 1.36 million. Work on

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