Welcome in the year 2024 and a new look for the real estate market in Hampton Road and Northeastern North Carolina. Open business has picked up and we closed 23% more commission dollars in January 2024 versus last January 2023. Potential Closings for … [Read more...]
TIME TO GIVE THANKS!
This is the time of year we all should be thinking about how lucky we are to live in America and work in an industry with unlimited potential. I know it has been a rough year for many of you but success is always just around the corner when you have … [Read more...]
Lending Shifting, but Still Tight
The Federal Reserve released its survey of senior loan officers (SLOOS) earlier this week. On its face, the survey suggests a modest loosening of credit for prime and non-traditional lending. However, the picture is a little more mixed for those … [Read more...]
Basel III Down: The Specter of Regulation Eases
Yesterday marked an important turning point for housing finance. The Federal Reserve voted on a final Basel III rule that is significantly friendlier to residential housing finance than the earlier proposal. While the FDIC and OCC must still vote … [Read more...]
Mortgage Availability: Excessively Tight Credit Conditions
Recently released government data for 2011 from the Home Mortgage Disclosure Act (HMDA) shows just how tight mortgage credit has been. Incomes of prospective purchasers have increased since 2004, but the loan to income ratio has declined. The median … [Read more...]
Credit Conditions Continue to be Tight
Each month, the National Association of REALTORS® obtains up-to-date and on-the-ground incisive comments from REALTORS® who participate in the REALTORS® Confidence Index (RCI) survey. The RCI survey tracks expectations about overall market … [Read more...]
