Archive for July, 2013

New Home Sales Up 8.3% in June

Tuesday, July 30th, 2013

Source: The Open Door New home sales in June hit their highest level in more than five years, a sign of the housing market’s strength in the face of recent increases in mortgage rates. The Commerce Department said sales rose 8.3% to a seasonally adjusted annual rate of 497,000, the best pace since May 2008. […]

Builder Confidence Leaps to 7-Year High

Wednesday, July 24th, 2013

Builders continue to grow more optimistic about the prospects for sales of new homes, with builder confidence rising six points in the past month, to its highest level since January 2006. The National Association of Home Builders/Wells Fargo Housing Market Index rose to 57 in July, up from 51 last month. Any number over 50 means more builders […]

Cleveland’s New Tunnels Connecting Lakefront Edgewater Park to Detroit Shoreway Open

Wednesday, July 24th, 2013

Source: News Channel 5-Written by:Tom Livingston CLEVELAND – Ten years in the making, two tunnels connecting the Detroit-Shoreway neighborhood with the lakefront at Edgewater Park opened Tuesday evening. Cleveland Mayor Frank Jackson was joined by Councilman Matt Zone and officials from the neighborhood, ODOT and the Metroparks at the ribbon-cutting ceremony on West 73rd Street, […]

Spike in interest rates won’t derail housing recovery: Freddie Mac

Tuesday, July 16th, 2013

Despite worries that a recent spike in interest rates catalyzed by indications that the Fed may scale back its bond-buying could erode home-buyer demand, the real estate market is still likely to continue to improve in 2013, Freddie Mac said in its latest U.S. Economic and Housing Market Outlook report. “The housing recovery keeps chugging […]

Delinquent loans, foreclosures decline

Thursday, July 11th, 2013

The number of foreclosures and the percentage of homeowners who are delinquent on their mortgages have fallen drastically in the past year, according to two reports. CoreLogic reported that 27% fewer foreclosures were completed in May 2013 than in May 2012, though the number was still more than twice the number completed in a typical month before the […]

Imprev Invents “App Generator” for Real Estate Agents: New Platform Taps Big Data From INRIX®, Walk Score

Thursday, July 11th, 2013

SAN FRANCISCO, CA–(Marketwired – Jul 10, 2013) – Imprev today announced the invention of the real estate industry’s first “App Generator” that enables real estate agents to create an array of branded mobile apps to give away to home buyers and sellers. Powered by the Imprev Marketing Platform, the App Generator has the ability to […]

Land back in demand among homebuilders

Tuesday, July 9th, 2013

      Crain’s Cleveland Business Article by Stan Bullard Talk about a turnaround. During the e conomic slump, some builders went bust as they choked on payments for unsold home sites. Now Matt Garland, owner of Garland Homes in Westlake, counts himself lucky to have bought and developed land before the rebound hit. Garland […]

Pending Home Sales Jump to 6-year High

Monday, July 1st, 2013

Contracts to buy new homes hit the highest level in more than six years in May, suggesting that would-be homebuyers were trying to lock in deals before interest rates rise. Unless they’ve locked in rates, they may already be too late. The average rate for a 30-year mortgage rose from 3.93% to 4.46% this week, the biggest […]