The February 2012 issue of Your Home is now available.

2012 CRS President Mark Minchew, CRS, wants to create a fresh wave of member engagement. Read about it in Surge Ahead. 

10 Markets to Watch in 2012
POSTED ON: Wed, Feb 1, 2012
Real estate markets in the Midwest and the South dominate the list of the Top 10 Markets to Watch in 2012, according to a report compiled by Inman News. Only two Northeastern markets, both in New York, made the list, but no markets from the West were included.

The 10 markets are: Raleigh-Cary, N.C.; Wichita, Kan.; Rochester, N.Y.; Des Moines, Iowa; Chattanooga, Tenn.; Peoria, Ill.; Amarillo, Texas; Binghampton, N.Y.; Waterloo-Cedar Falls, Iowa; and Bloomington-Normal, Ill. These markets are showing signs of improvement in several key metrics, including above-average price appreciation, a flourishing job market, a high rate of sales in proportion to population, higher home affordability, low foreclosure activity, a below-average share of distressed sales, and low vacancy rates.

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U.S. Home Prices Fell in November
POSTED ON: Tue, Jan 31, 2012
U.S. home prices continued to fall in November, returning to levels last seen in 2003, according to the latest S&P/Case-Shiller Home Price Index. The 10-City and 20-City Composites posted annual declines of 3.6 percent and 3.7 percent, respectively, from November 2010, and 18 of the 20 metro areas surveyed posted annual declines. Atlanta had the largest annual decline at 11.8 percent in November, while Detroit and Washington, D.C., were the only two cities to show positive annual returns of 3.8 percent and 0.5 percent, respectively.

On a monthly basis, both the 10-City and 20-City Composites fell 1.3 percent in November from the previous month, with 19 of the 20 cities posting declines. Chicago posted the biggest monthly decline at 3.4 percent, followed by Atlanta with a decline of 2.5 percent and Detroit with 2.4 percent.


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Turnaround Markets To Lead U.S. Housing Recovery
POSTED ON: Mon, Jan 30, 2012
Eight of the nation’s 10 quickest-recovering housing markets are located in Florida, according to fourth-quarter 2011 data compiled by Realtor.com. The other two markets among the top 10 are Phoenix and Boise, Idaho. These top 10 recovery markets all have suffered some of the nation’s highest foreclosure rates since 2006, but strong performance in sales and inventory in the fourth quarter put them in the forefront of a housing recovery, the report says. The rankings are based on four factors: year-over-year median price appreciation; reduced median age of inventory on an annual basis; inventory reduction levels as observed by Realtor.com; and annual unemployment rates. Miami has the top ranking due to a surge in existing-home sales, which jumped 51 percent in third quarter of 2011 compared to the previous year, and a reduction of inventory by nearly half compared to a year ago.


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Remodeling Outlook Positive for 2012
POSTED ON: Fri, Jan 27, 2012
Like the residential housing market, the remodeling market is showing signs of improvement, according to two leading industry indexes. The National Association of Home Builders’ Remodeling Market Index (RMI) rose five points in the fourth quarter of 2011 from the third quarter, reaching its highest level in five years. Index components measuring current market conditions and future indicators of remodeling business both increased five points in the fourth quarter. The highest market activity occurred in two categories: major additions and minor additions.



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Foreclosure Sales Made Up a Smaller Percentage of Home Sales in Q3
POSTED ON: Thu, Jan 26, 2012
Foreclosure sales accounted for a smaller share of total residential sales in the third quarter, according to the latest figures by RealtyTrac. A total of 221,536 residential properties that were bank-owned or in some stage of foreclosure were purchased in the third quarter, accounting for 20 percent of all U.S. residential sales, down from 22 percent in the second quarter of 2011 and 30 percent in the third quarter of 2010.



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New-Home Sales Decline in 2011
POSTED ON: Thu, Jan 26, 2012
Sales of new single-family homes fell 6.2 percent in 2011 to 302,000 units, compared to 323,000 in 2010, according to the latest figures released by the U.S. Commerce Department. In December, new-home sales slipped 2.2 percent to a seasonally adjusted annual rate of 307,000, compared to 314,000 in November, and they were 7.3 percent below the December 2010 estimate of 331,000. The median sale price of new homes sold in December was $210,300, down 8.7 percent from $241,200 in December 2010. At the end of December, 157,000 new homes were available for sale, representing a 6.1-month supply at the current sales rate.

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Pending Home Sales Fall in December, But Remain Higher Than a Year Ago
POSTED ON: Wed, Jan 25, 2012
The Pending Home Sales Index (PHSI), which reflect contracts signed but not closed, declined 3.5 percent in December but they were 5.6 percent higher than a year ago, according to the NATIONAL ASSOCIATION OF REALTORS® (NAR).



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Zillow Makes Home Shopping More Social
POSTED ON: Mon, Jan 23, 2012
While a majority of buyers begin their home search online, many also seek advice from their family and friends about where to live. Zillow takes that activity further by launching Neighborhood Advice, an app that helps buyers and renters learn more about neighborhoods from their Facebook friends. While browsing on Zillow, users are prompted to activate the Facebook app, Map My Friends, to see where their Facebook friends live or check into most often. As users search for homes in a specific city or neighborhood, Neighborhood Advice will recommend Facebook friends who are connected to those areas that users may contact for tips and advice. “Integrating social media tools and friend networks into the core Zillow home-shopping experience is yet another way we are giving our users access to previously hard-to-find, yet sought-after, information,” says Zillow CEO Spencer Rascoff.


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Going Viral: Making Yourself Matter
POSTED ON: Fri, Jan 20, 2012
PHOENIX (JAN. 20, 2012) – Spreading a virus is not always a bad thing. When a short, compelling (and usually funny) video on YouTube “goes viral,” millions of people pass it along via social media. In his keynote address Thursday afternoon, Sell-a-bration® moderator Brian Copeland, CRS, suggested the idea that REALTORS® who make themselves relevant enough to become “viral” — both in person and online — have a leg up on the competition. While the old way of doing business still has credibility for many consumers, the burgeoning market of younger homebuyers and sellers tend to look for agents who mix the “old school” methods with newer approaches that can be especially effective with their peers, he said.



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Existing-Home Sales Rise, Prices Slip in December
POSTED ON: Fri, Jan 20, 2012
Existing-home sales rose 5 percent to a seasonally adjusted annual rate of 4.61 million in December from 4.39 million in November and they are 3.6 percent higher than the 4.45 million housing units sold in December 2010, according to the latest figures by the NATIONAL ASSOCIATION OF REALTORS®. In 2011, existing-home sales rose 1.7 percent to 4.26 million from 4.19 million in 2010.



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