BOOMERS MOVING BACK DOWNTOWN, CONFUSING LOAN POLICYS AND LENDER CONFIDENCE RISING:
FRIDAY FACTS April 26, 2013
Bits and pieces of real estate news:
- According to Diana Olick of CNBC, there is a growing trend for Boomers (born 1046-1964) to put their suburban homes on the market and move to the city. They’re looking for walkability, proximity to public transit and diversity.
“We’re seeing this trend on Cape Cod too. Some of our newest listings are from boomers putting their large homes on the market and moving to condos close to downtown in Mashpee and Falmouth.” – Lynette Helmes, CEO of Real Estate Associates
- The National Real Estate Post pointed out another contradictory government policy: HUD, Fannie or Freddie require that a pool on one of their foreclosed properties be drained. However, you can’t close on a HUD or FHA foreclosure with a pool unless the pool is filled.
- Inman News reported on a survey measuring lender confidence in home prices for the first quarter of this year. 71% feel that home prices are rising at a sustainable pace from a risk perspective. Dr. Andrew Jennings, Chief Analytics Officer at FICO says, “Mortgage lenders have been understandably guarded over the past 5 years. The improvement in their sentiment should be welcome news and I wouldn’t be surprised to see lenders cautiously expanding their mortgage and home equity lending business.”
- The top 5 websites for real estate traffic are: