Telltale Signs That You’re Ready to Sell

Ready-to-SellIt doesn’t matter how the decision comes about to sell your home; when you’re ready, you’re ready. 

Knowing when to move on from a relationship is an essential life skill. I’m not talking about romance, but an even deeper relationship: the one you have with your humble abode.

Selling your home is just as big an undertaking as buying one — in many cases, even more so! You’ve made memories in your home, and that can make it hard to see the proverbial writing on the wall.

So how do you spot the telltale signs of an impending property breakup?

You browse your heart out

Surfing real estate listings online has become a favorite pastime. Real estate photos these days are as Pinterest-worthy as any magazine spread, and it’s easy to scroll away the hours looking at pretty pictures of houses.

If you find that your search filters have become more detailed, that you’ve signed up for a Trulia account, and that you’re bookmarking houses with abandon … you may be doing a bit more than just dreaming.

Sometimes the decision to sell your home isn’t a conscious one; it simply becomes apparent through your actions.

Brandon Wilson, a recent home seller in Dallas, found himself in this exact situation.

“I was spending so much time online looking at houses, it practically became my job. Even though I felt happy with the home I had, I finally realized that all the amenities I wanted in my current home could actually be mine if I just moved; I listed my house for sale the next week.”

You obsess over every for-sale sign

Most of us know a real estate professional in our neighborhood. It’s natural to ask about the market in general terms — we all want to know what our house is worth, don’t we?

Even if you aren’t ready to sell your current home, looking at homes for sale can be a fun way to spend a Saturday.

However, if you find yourself cornering the local real estate pro at every neighborhood get-together to discuss market valuations, then you may be more serious about moving than you think.

The same can be said for spending every waking hour driving around to open houses. It’s natural to be curious occasionally about homes for sale in your neighborhood, but if you’re starting to feel like you should have your own HGTV show, then it’s time to move on.

You’re desperate to “right-size” your home

Everyone says time flies, and this is definitely true in real estate. We often find ourselves in a situation that was perfect five years ago but just isn’t filling the bill now.

Maybe you’ve added a family member or two or the kids have all moved out; whatever the change, the outcome is the same — it’s time to “right-size” your home.

If you fantasize about the free time and road trips you could take if you didn’t have 3,000 square feet to maintain, or if every morning you long for a bathroom you didn’t have to share with three kids and a dog, it’s time to list and make your dreams come true.

The first step? Get clear on the reasons that your house is no longer the one for you. Then you can embrace the process and start implementing a plan to make your fantasy home a reality.

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Mortgage Lenders Set to Relax Standards

WSJ graph

Agreement With Fannie, Freddie Potentially Paves Way for More Applicants to Qualify for Loans

Lenders also are expected to widen the scope of the types of borrowers they will accept by reducing credit-score requirements and giving greater leeway to consumers whose credit history suffered because of one-time events, such as a job loss or big medical bill.

Economists have long maintained that tight credit could be holding back the housing recovery and damping economic growth. On Tuesday, the S&P/Case-Shiller Index showed that U.S. home prices grew 4.8% in the 12 months ending in September, their slowest pace in two years.

After the financial crisis, Fannie and Freddie made banks repurchase tens of billions of dollars in loans that the companies said didn’t meet their standards. In turn, many lenders stopped making loans to all but the most pristine of borrowers.

In many cases, they required borrowers to have substantially higher credit scores and put in place other measures—so-called credit overlays—that were more stringent than what Fannie and Freddie required.

With the new agreement, “I’ve been told with absolute confidence that some lenders are lifting almost all of their overlays,” said David Stevens, president of the Mortgage Bankers Association.

Wells Fargo, the nation’s largest mortgage lender, lifted its credit-score overlay earlier this year, which the bank said was in anticipation of the agreement with Fannie and Freddie. Now it says borrowers can expect a smoother process of getting a loan with less “excessive” paperwork.

“It’s providing greater certainty for all the parties so that you can lend more confidently and make the whole judgment process much easier and more clear cut,” said Mike Heid, president of Wells Fargo Home Mortgage.

For example, under the previous system, Mr. Heid said a borrower who had a late payment on an auto loan might have been asked to write a memo describing what happened, even if such a mistake wasn’t critical to the decision to make a loan or not. That was because Wells couldn’t be certain what would trigger a repurchase demand from Fannie or Freddie, he said.

Now, they are less likely to be required to ask for such documentation, he said, which should speed the process of securing a loan.

Jerome Lienhard, CEO of SunTrust Mortgage, said the new guidelines likely would allow the company to lift its overlays by “a pretty meaningful amount.” He said the bank is still analyzing which overlays to remove, but he is confident many will be eliminated. “This is real. This is substantive,” he said.

Before the new rules were put in place, Mason-McDuffie Mortgage Corp. in San Ramon, Calif., typically wouldn’t make a loan to a borrower with a credit score below 660, said Bill Godfrey, the company’s executive vice president of capital markets. Now, he said he believes the company will lend down to 620, the limit for loans backed by Fannie and Freddie.

“We will be able to be looser and open up the net wider,” said Mr. Godfrey.

Not all lenders are poised to relax their underwriting rules. On an earnings call a few days after the agreement was announced, U.S. Bank Chief Executive Richard Davis called it “a good sound bite” and indicated that his bank wasn’t prepared to make changes.

“Unless we are convinced that the rules are going to be permanent and there is not going to be a look back or a reach back in future times…we are simply going to stay on the sidelines in the concerns of both compliance risks and other uncertainties,” said Mr. Davis.

“You won’t see us start to expand our criteria much past what we’ve done,” said Bank of America Chief Executive Brian Moynihan at an investor conference this month.

Isaac Boltansky, an analyst at Compass Point Research & Trading, said some lenders are still too “shellshocked due to litigation and the shifting regulatory environment” to ease credit conditions soon.

Still, overall, Fannie Mae CEO Timothy J. Mayopoulos this month said lenders were “reacting positively to those developments. I do think that lenders are nonetheless concerned about other factors in the environment that we do not control.”

By JOE LIGHT, WSJ

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O.C. home prices jump more than 10% in October

OC house graphOrange County home prices showed uncharacteristic strength for an October, with double-digit gains for the first time in four months, new housing figures released Wednesday show.

The median price of an Orange County home – or the price at the midpoint of all sales – was $595,000 last month, up 10.2 percent from a year ago and up $10,000 from September’s median, CoreLogic DataQuick reported.

Typically, prices drop from September to October as part of a seasonal slowdown, rising in only nine of the past 27 years.

Last month’s price gain was the biggest price appreciation rate in the region and the only double-digit gain among six Southern California counties DataQuick tracks. And it was the highest median home price for an October since 2006.

Countywide, home sales remained well below October averages, however, with transactions falling to the slowest pace for the month in three years. DataQuick reported that 2,849 homes changed hands last month, down 4.6 percent from the same month’s sales pace last year.

The market here matched trends throughout Southern California. Regionwide, the median home price increased 6.8 percent to $410,000, while sales fell 4.4 percent to 19,271 transactions.

All six Southern California counties that DataQuick tracks showed year-over-year price gains of 6.3 percent or better, while sales dipped throughout the region.

posted by Jeff Collins, OC Register

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How to shop for the best mortgage rate

shop for a mortgage

Mortgage rates haven’t moved much this year, and the good news is they’ve been stuck at historically low levels. But the bad news is that may be about to change.

Both home prices and mortgage rates are expected to move higher as we head through the fall, and that makes shopping for the right mortgage all the more critical. While various groups report national mortgage rate averages each week, the rates you get can vary dramatically from that average, depending on what product you choose and how you shop. So how do you get the best rate? We asked some of the top mortgage professionals across the nation for their top tips:

Craig Strent, CEO of Maryland-based Apex Home Loans:

“Don’t overpay for your mortgage. One of the biggest mistakes home buyers make is to take a 30-year, fixed-rate mortgage when they don’t need it.”

The 30-year fixed is the most expensive of all mortgage products because the rate is the highest and you’re paying for the longest time. Choose a product that matches how long you expect to be in your home. If it’s just five years or less, then a 5/1 adjustable rate mortgage (ARM) which is fixed for five years will be a much cheaper option. If you’re conservative, try a 7/1 or 10/1 ARM. The rates on all of these are lower than the 30-year fixed and can save you thousands of dollars over the life of the loan.

“Don’t be fooled by points”

Points are an upfront payment of interest in exchange for a lower rate. This boosts your closing costs and makes the rate appear to be artificially low. This can make sense if you’re going to be in your home for a very long time. If you’re not, then the savings you’re getting in the lower rate over time is never going to make up for that higher cost upfront.

“Don’t fight the documentation requests”

A great rate can turn into a bad one if your rate lock expires or you have to pay for an extension. Get your financial house in order before you even apply for a loan. Documentation requirements can be arduous these days, but fighting them will get you nowhere as most are institutional and are not going to be waived.

“Beware of hidden fees and loan level pricing adjustments”

Artificially low advertised rates may come with additional points or closing costs. Be sure to review a full breakdown of closing costs before committing to a lender. If your property is a condo, your loan is cash-out or you have a lower credit score, your rate will rise, so make sure you give all your information to the lender up front, so that lender can give you an accurate quote.

Dan Green, publisher of themortgagereports.com in Cincinnati:

“You can shop by rate or shop by fees, but you can’t shop for both at the same time.”

Decide your strategy first, what makes the most sense for you financially, and then stick to the plan.

“You don’t have to ‘save 1 percentage point’ for a refinance to make sense.”

That strategy is a relic from our grandparents’ generation, when loan sizes were much lower, less than $100,000, and when closing costs could run 10 percent of the loan size or more. Think in terms of monthly savings—not interest rate reduction. If your savings offsets the costs, then go for it.

“Always compare the zero-closing cost mortgage”

Zero-closing cost mortgages are sometimes available for as little as 12.5 basis points (0.125 percent) added to your mortgage rate. Your payment might rise $30-50 per month, but you’ll eliminate $4,000 in closing costs or more. Again, this depends on how long you intend to hold the loan.

Logan Mohtashami, senior loan officer of California-based AMC Lending Group:

“Don’t make the mistake of pricing out lenders on different days”

Get a few lenders in place and price them out all at the same time. Rates can vary even hour-to-hour, so you want to get the best comparison possible.

“Don’t let multiple lenders run your credit score”

This can actually damage your score. Get one credit report done, a three-merge score, where one lender pulls Experian, Transunion and Equifax all together and your loan is based on the middle FICO score.

Mortgages
30 yr fixed 4.19% 4.30%
30 yr fixed jumbo 4.64% 4.76%
15 yr fixed 3.27% 3.46%
15 yr fixed jumbo 3.86% 4.02%
5/1 ARM 3.38% 5.31%
5/1 jumbo ARM 4.01% 6.25%
Find personalized rates:

—By CNBC’s Diana Olick.

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How to Sell a Home in the Summer

 

10 Sizzling Summer Home Selling Tips

imagineHome selling in the summer is often a bit more tricky than home selling during other times of the year. For example, spring time selling is the most popular time to put your home on the market. The second best time of the year to sell a home is in the autumn. Summer ranks in meager third position.

Why is Summer Not the Optimum Time to Sell a Home?

 Summer is good for a lot of things, but home selling is not necessarily one of them. In fact, if you don’t have to sell in the summer, you might get more for your home if you wait until fall. Why? Because in the summer

  • People go on vacation
  • Kids get out of school and require attention
  • Summer activities distract

There’s just too much going on during the summer to pay close attention to home selling. Most sellers would rather wait until everything calms down in the fall.

If You Must Sell Your Home During the Summer

Not everybody can wait until fall, though. Sometimes people need to sell during the months of June, July and August. They might be transferred to a new job in another state or be experiencing other pressing “life” issues that could necessitate an immediate sale. Here are a few things you can do help attract a summertime buyer who might be leaning instead toward lying in a hammock and sipping lemonade.

  • Mow the Lawn Twice a WeekDon’t ask me why but grass grows faster in the summer. Don’t explain it to me, either, because I don’t want to think about photosynthesis or chlorophyll. Your hair grows faster in the summer, too. Every other lawn cutting, try mowing on the diagonal to add dimension and curb appeal.
  • Create Summer Curb Appeal Curb appeal is what makes fairy-tale land leap from the pages of a landscaping book and into your front yard. Curb appeal creates lust, happiness and contentment. Trim the bushes. Plant flowers. Scatter mulch. Paint your house number on the curb. Sweep the walk. Make your entrance welcoming and warm.
  • Decorate With Summer-Influenced Accents Look around your yard for color inspiration. White is a pure summer color. Vivid blues have a calming affect. You can sweep away the cobwebs of winter by replacing accent pillows or throw rugs with brighter, summer hues.
  • Bring the Light Inside If you have heavy drapes, remove them. They tend to make rooms look smaller anyway by encroaching on space. Pull all your blinds to the top and tape the strings underneath. Consider tie-backs if you don’t already have them for holding open lighter drapes / curtains. The only time you would leave blinds closed is if there was an undesirable element on the other side of the window, i.e. a neighbor’s trash can, and even then, open them slightly.
  • Go With the Flow of Summer Due to daylight savings in most states, it stays light outside longer. Some people like to skip out of work early on a Friday. You might find buyers are more interested in touring your home in twilight hours, just after the dinner hour.
  • Move the Home Outside Where I live, in Sacramento, it doesn’t rain in the summer. We can move perfectly good living room furniture to the back yard. Not only does moving out furniture free up more room inside the home, but it creates an outdoor living space with items you already own. It’s an illusion created for a buyer that says yes, you can own this lifestyle, too.
  • Deliver the Sparkle Gold or silver or brass or pewter? Doesn’t matter. Mix them, if you like. Old rules don’t apply. Metals are summery. Vases, picture frames, mirrors, utensils, goblets, hanging planters to garden gnomes.
  • Supply Summer Treats and Drinks For me, in California, summer means red-and-white checkered tablecloths, potato salad, hot dogs and mustard and roasted corn-on-the-cob.  Every part of the country has its own summer food traditions. In Maine, summer might mean juicy blueberries and clams. Fill the sink with ice cubes and chill bottled water for guests.
  • Utilize Natural Scent Sparingly Sometimes, people go hog wild with the air fresheners. Vanilla is a popular scent but it can overwhelm sensitive noses. Try filling the air with natural fragrances such as those from cut roses or honeysuckle vines.
  • Control the Air Temperature The only thing worse than a stuffy room on a hot day is a hot room. Circulate air. Even if you have to place floor fans about the home, keep the air moving. Turn down the AC to a notch below your comfort zone if the air outside is hotter than your comfort zone. Not so cold that your visitor’s arm hair stands up. But chilly enough that they don’t want to go back outside.                                                                                                                                                                                                                                                                                                        Compliments of Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.

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Mortgage Rates Falling, So Where Are Home Buyers?

Mortgage rates have fallen close to their lowest levels in nearly a year, but housing demand hasn’t budged much yet.

Freddie Mac FMCC -1.36% reported Thursday that the average 30-year, fixed-rate mortgage rose to 4.14% this week, up from 4.12% last week but down from 4.4% just two months ago. This puts rates at roughly the same level seen in late October 2013 and again last June, when rates were zipping up as investors braced for an end to the Federal Reserve’s bond-buying programs.

But even with low rates, mortgage applications have been soft, according to a separate report from the Mortgage Bankers Association, a sign of still muted demand for home loans.

What’s going on?

First, a longer view helps. True, mortgage rates are low—as low as they’ve been in almost 12 months. But in the same way that shoppers may not be lured by “low prices” at a department store that is always advertising a sale, mortgage rates at 4.1% may not be seen as a steal by buyers who lived with rates that were even lower for all of 2012 and the first half of 2013—especially considering that prices have moved higher.

Put differently, which change is more dramatic—a decline in interest rates from 5% to 3.5% over the two years beginning in February 2011 or the decline from 4.5% in January to 4.1% in May?

Given the time it takes for home purchases to come together and the fact that the decision to purchase a home isn’t purely rate-driven—buyers also must weigh what’s for sale, their family and job situation, etc.—it could take a while to see what effect, if any, the recent drop in interest rates has had on demand.

So do rates really matter? At the margins, yes. They’re a key component of a borrower’s monthly payment. And often the first conversation between a real-estate agent and a potential buyer—”How much are you willing to spend?”—can be influenced quite a bit by mortgage rates, provided the buyer isn’t paying entirely in cash.

What does this payment picture look like right now? The monthly payment on the median-priced U.S. home fell from $673 in February 2011 to $552 in September 2012 as interest rates fell. Interest rates stayed low through May 2013, but the average payment rose to $586 as home prices ticked up. (These calculations assume a 20% down payment on the national median home value as calculated by Zillow).

After interest rates jumped last summer, that average payment bounced to $674 in September 2013. Rising prices and, especially, higher rates eroded the affordability gains of the previous 2½ years in a matter of months. Payments haven’t budged much since then. Modest declines in interest rates have offset modest gains in home prices.

Some look at this and say: wait a minute, a 4.5% mortgage is still an insanely good deal. Why would a rise in rates to levels that are still quite low hurt housing demand? One possible explanation: the overall level of rate matters over the long run, but the speed with which rates rose last year could have dented demand in the short run.

Several economists have argued recently that mortgage rates increases played an important role in last year’s sales slowdown. In part, that’s because activity received a larger boost when mortgage rates were falling from 2011 to 2013 than previously anticipated, wrote Goldman Sachs economists Sven Jari Stehn and David Mericle in a recent report.

The Goldman analysis suggests that the slide in mortgage rates between 2011 and 2013 increased residential investment—the primary measure of housing’s contribution to GDP—by 5 percentage points. “As this tailwind dissipates going forward, the trend in housing activity might be somewhat lower than previously assumed,” they write.

Last year’s mortgage rate increase accounts for nearly half of the difference in expected housing growth and the lower, actual growth, according to a separate analysis published last week by economists at the Federal Reserve Bank of Cleveland.

This isn’t to say that the cold winter and the rate jump are the only reasons housing has slowed down. Low rates and prices may have spurred the release of pent-up demand throughout 2012, as home prices began to rise. This one-time benefit, together with aggressive home purchase by investors (also a temporary phenomenon), could have given false signals about the true health of the demand side of the market in 2012 and 2013.

Moreover, incomes have showed little growth, meaning that it will be harder for more buyers to buy homes if prices continue to rise absent some gains in wages or even bigger declines in financing costs. Sales are also being restrained by low levels of homes for sale, which is pushing prices higher. Some would-be buyers don’t have enough equity to sell their current home, while others have high levels of student debt.

WSJ by Nick Timiraos

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Home sellers on price: The sky is the limit

For sale signFrom Yahoo Homes.

Home prices are moving so far, so fast, that at least 1,000 local housing markets have hit all-time price highs, according to Zillow. It should come as no surprise, therefore, that potential home sellers are giddy with value.

“I even hear them say that prices are skyrocketing,” said Jeremy Cunningham, a northern Virginia real estate agent with Redfin, a real estate brokerage. “When you ask them what their data source is or where they’re getting their information, it’s more of a vibe.”

Forty percent of sellers surveyed by Redfin said they are planning on pricing their homes above market value when they list in the second quarter of this year; that’s up from 33 percent at the beginning of the year. Redfin polled 1,128 active home sellers across 25 U.S. cities.

 Confidence is behind it all. Fifty-two percent said they were confident that now is a good time to sell, versus just 37.5 percent three months ago. This, conversely, as sales of existing homes were actually lower in March by 7.5 percent from a year ago, according to the National Association of Realtors.

Another survey of 1,000 homeowners and renters by mortgage giant Fannie Mae (FNMA) found that those who say it is a good time to buy a house held steady in April at 69 percent, but those who say it is a good time to sell increased 4 percentage points from the previous month to 42 percent, an all-time survey high.

Read More Why millennials rent: What do you think?

“Consistent with (April’s) upbeat jobs report, concern about job loss among employed consumers also has hit a record survey low. These results are in line with our expectations for increased housing activity and gradual strengthening of the housing market going into the spring and summer selling season,” said Doug Duncan, Fannie Mae’s chief economist.

More sellers now say they are pricing their homes high because they are willing to wait if it doesn’t sell, according to Redfin. An increasing number of sellers also say they are pricing high because they need that value to pay off their mortgages. Nearly 10 million U.S. homeowners were underwater on their mortgages at the end of last year, according to Zillow.

The Soricelli family in northern Virginia thought about selling their home a year ago, but held off, hoping that prices would improve. After watching solid home appreciation in the neighborhood and across the country, they decided to put their home up for sale this spring. Their asking price, however, was higher than their real estate agent, Cunningham, thought was realistic.

Read More Greenbacks rule: All-cash deals hit 43% of total home sales in 1Q

“My wife and myself, we take a lot of pride in our house and did a lot of upgrades,” said Brad Soricelli. “We put a lot of money into it, so in trying to reconcile that with what the market is now, there was a little back and forth.”

Cunningham said he is usually able to talk his clients back to reality by showing them comparable sales, but the data can be confusing. That is especially true in markets where investors and all-cash buyers are more prevalent.

Sellers are more likely to get their asking price from an all-cash buyer, and all cash means there will be no appraisal issues. However, for those in markets where there are fewer investors and all-cash buyers, commanding an above-market price is a dicey proposition. Even if they do strike a deal with a credit-dependent buyer, they are at the mercy of the appraiser, who will make the final decision as to the real market value of the home.

“When you look at comps, it’s very difficult. The trends are hard to identify,” said Cunningham. “You could have on any given street, price variations of $50,000 to $75,000 for the exact same house.”

The Soricellis did take Cunningham’s advice and brought their asking price down. The house sold in one day, but they say they have no regrets.

Read More The boom in $100 million home sales

“Not having to go through waiting and some of the aggravation of having your house on the market for a period of time is worth a certain amount of money,” said Brad Soricelli.

Especially when they look across the street. Their neighbor’s house, which has already undergone a price drop, is still sitting on the market.

—By CNBC’s Diana Olick.

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Equity Home Sales Rise to Highest Level in Six Years

house-price-fallAs higher home prices buoy underwater homes, equity home sales rise to highest level in more than six years.

LOS ANGELES (May 22) – Recent home price gains have lifted more underwater homes into positive territory, pushing the share of equity home sales to their highest level since late 2007.  At the same time, pending home sales were essentially unchanged in April, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Distressed housing market data:

• The share of equity sales – or non-distressed property sales – continued to increase in April, rising to 88.4 percent in April, up from 87.6 percent in March.  After a slight decline at the end of 2013, equity sales have been rising steadily again since the beginning of this year.  April marks the 10th straight month that equity sales have been more than 80 percent of total sales. Equity sales made up 75.4 percent of sales in April 2013.

• The combined share of all distressed property sales continued to decline in April, thanks to a drop in short sales.  The share of distressed property sales was down from 12.4 percent in March to 11.6 percent in April.  Distressed sales continued to be down by more than 50 percent from a year ago, when the share was 24.6 percent.

• Twenty-six of the 41 reported counties showed a month-to-month decrease in the share of distressed sales, with 13 of the counties recording in the single-digits, including Alameda, Marin, San Benito, San Diego, San Luis Obispo, San Mateo, and Santa Clara counties — all of which registered a share of five percent or less.

• Of the distressed properties, the share of short sales dropped to levels last observed in April 2008 at 5.9 percent, down from 6.6 percent in March.  April’s figure was nearly a third of the 14.7 percent recorded in April 2013.

• The share of REO sales only dipped slightly in April to 5.3 percent, down from 5.4 percent in March.  REO sales are now nearly half of what they were a year ago, when REOs made up 9.4 percent of all sales in April 2013.

• A drop in active listings of equity and REO properties tightened the housing supply in April, causing a decline in unsold inventory across all property types.  The Unsold Inventory Index for equity sales dropped from 4 months in March to 3.6 months in April.  The supply of REOs slipped from 2.8 months in March to 2.3 months in April, and the supply of short sales declined from 4.7 months in March to 4.4 months in April.

Pending home sales data:

• California pending home sales were essentially unchanged from March, with the Pending Home Sales Index (PHSI)* dipping 0.5 percent from 114.4 in March to 113.8 in April, based on signed contracts.  The month-to-month change was substantially lower than the 6.5 percent drop from March to April observed in the last three years.

• Pending sales were down 6 percent from the revised 121.1 index recorded in April 2013.  The year-over-year decline in the PHSI has been tapering over the past few months and should level off in the coming months.  Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.

Charts (click link to open):

• Pending sales compared with closed sales.
• Historical trend in the share of equity sales compared with distressed sales.
• Closed housing sales in April by sales type (equity, distressed).
• Housing supply of REOs, short sales, and equity sales in April.
• A historical trend of REO, short sale, and equity sales housing supply.
• Year-to-year change in sales by property type.

 

Share of Distressed Sales to Total Sales
(Single-family)

Type of Sale Apr-14 Mar-14 Apr-13
Equity Sales 88.4% 87.6% 75.4%
Total Distressed Sales 11.6% 12.4% 24.6%
     REOs 5.3% 5.4% 9.4%
     Short Sales 5.9% 6.6% 14.7%
     Other Distressed Sales (Not Specified)  0.5% 0.5% 0.5%
All Sales  100.0% 100.0% 100.0%

Single-family Distressed Home Sales by Select Counties
(Percent of total sales)

County Apr-14 Mar-14 Apr-13
Alameda 4% 6% 9%
Amador 22% 30% 40%
Butte 18% 19% 27%
Calaveras 18% 18% 36%
Contra Costa 6% 9% 11%
El Dorado 15% 15% 22%
Fresno 19% 22% 38%
Glenn 23% 38% 27%
Humboldt 13% 17% 20%
Kern 19% 17% 31%
Kings 23% 28% 40%
Lake 26% 27% 49%
Los Angeles 12% 13% 24%
Madera 17% 14% 47%
Marin 5% 6% 10%
Mendocino 27% 14% 24%
Merced 12% 17% 44%
Monterey 13% 10% 37%
Napa 6% 13% 23%
Orange 7% 7% 13%
Placer 9% 11% 23%
Plumas 35% 40% NA
Riverside 15% 14% 32%
Sacramento 16% 17% 32%
San Benito 4% 9% 22%
San Bernardino 18% 21% 35%
San Diego 4% 4% 10%
San Joaquin 19% 20% 43%
San Luis Obispo 4% 7% 17%
San Mateo 2% 4% 11%
Santa Clara 4% 5% 10%
Santa Cruz 9% 9% 18%
Shasta 20% 20% 37%
Siskiyou 24% 28% 34%
Solano 14% 19% 43%
Sonoma 9% 9% 22%
Stanislaus 15% 15% 37%
Sutter 17% 23% NA
Tulare 24% 21% 34%
Yolo 12% 14% 34%
Yuba 28% 24% NA
California 12% 12% 25%

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