Financial

Financials

Business financials advice, reports, and trends for professional home builders and remodelers.



News

Foreclosures rose slightly in January, but declined 17% overall compared to last year, Housing Predictor reported.

News

New regulations currently being developed could make it more difficult for some to get home loans, according to Sen. Kay Hagan (D., N.C.).

News

Mortgage rates rose for the second straight week, and could continue to climb higher, according to HousingPredictor.com.

News

Almost half of people surveyed by Housing Predictor say they will walk away from home mortgages if housing prices continue to drop.

News

Home buying activity is on the rise to open the new year. The Mortgage Bankers Association reported that the number of applications for home mortgages crept up 2.2 percent last week. However, when the index isn’t adjusted for the New Year’s holiday, the numbers are 47.5 percent higher compared to the previous week.

Custom Builder survey defines the demographics of the custom-home market

Custom Builder survey defines the demographics of the custom-home market

Features

New research by Custom Builder magazine provides insights into client profiles, home specifications, and top business challenges. Among the findings: homes are getting smaller, purse strings are tightening, and move-up buyers rule the market. Check out our full report.

Features

Last month, the U.S. Census Bureau released the first batch of the freshly collected 2010 census data of the nation. The big news so far: The official resident population count increased 9.7 percent over the 2000 census to 308.74 million people (the slowest growth rate since the Great Depression), with most growth occurring in the South and West regions, led by Texas.

News

A study from the Federal Reserve Bank of Philadelphia shows that 20 percent of homeowners that go into foreclosure on their first mortgage continue to make payments on a second-lien mortgage. The story was reported by The Wall Street Journal.

News

Real estate prices nationwide have corrected back to first quarter 2003 levels and could wind up near third quarter 2002 prices, according to estimates from John Burns Real Estate Consulting. These prices are a 5 percent correction from the S&P Case-Shiller Home Price Index.

News

Luxury home builder Toll Brothers said its new contracts fell 27 percent in its most recent quarter compared to a year ago, The New York Times reported. The company reported a $50.5 million profit, but noted that demand remained erratic.

News

Under the government’s proposed budget overhaul, Americans who sell their homes at a profit would be hit with much higher taxes. Although President Obama’s deficit commission failed to get the necessary votes, one proposal is to tax capital gains the same as ordinary income. Previously, sellers were only taxed 15 percent on profits exceeding $500,000.

News

Rates on home mortgages climbed this past week, causing mortgage applications to plummet, according to HousingPredictor.com. The average rate on a fixed 30-year mortgage climbed to 4.46 percent, showing that the foreclosure moratoriums enacted by major lenders are affecting the housing market.

News

For the second straight month, a record number of home sellers have cut the price on their house at least once. As of Nov. 1, 27 percent of sellers had lowered the asking price, the highest number in 18 months. In several cities, those numbers were even higher.

News

Most experts agree that very few housing markets will experience a full recovery in 2011, but HousingPredictor said six cities, including Denver, Fargo, N.D., and Washington, D.C., should make solid gains next year.

News

As the economy continues to tread water, the number and popularity of reverse mortgages has skyrocketed 166% over the past few years. The mortgages have been especially popular among older, cash-strapped homeowners. Part of the surge is due lower upfront origination and service fees, since lenders are desperate for new business.

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This Month in Custom Builder

Products

The French luxury switches brand Meljac has developed a new solid brass collection in collaboration with Australian designer Marc Newson.

Features

The HS300 whole-house HEPA filtration unit is designed to be installed directly onto the return air plenum of forced air heating/cooling systems.

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