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Keith Parrett's Blog

By Keith Parrett | Agent in Brentwood, CA

Friday Five: The Year of the Housing Bottom

More stable home prices point to housing market bottom, as REALTORS? ready to rally for home ownership and the economy in Washington.

The news that home prices are stabilizing across the country suggests that 2012 will be the year the housing market bottoms out. We also look to Washington, the site of next week’s rally for the American Dream. Plus, a group of REALTORS® is making waves with a $100M plan for the state’s national mortgage servicing settlement.

Forbes: Home Prices are Stabilizing, Signifying a Housing Market Bottom

Well, 2012 may or may not be the end of the world as we know it, but one thing is certain: It’s the end of the ghastly price hemorrhages home owners have suffered since the real estate market crashed in 2007. Yet new reports from several real estate research firms signify that home prices are finally stabilizing. The data reinforces a notion already asserted by many an economist, real estate agent, and Wall Street investor: 2012 is the year of the bottom.

Sunshine State News: REALTORS® Suggest Housing Trusts for Mortgage Settlement Money

REALTORS® in Florida are the latest to chime in on how Attorney General Pam Bondi should spend $300 million, the state’s share of a national mortgage servicing settlement. The Realtors and others that are part of the Sadowski Housing Coalition suggest one-third of the money go in the trust fund that supports affordable housing efforts.

HouseLogic: Renew Flood Insurance for Home Owners: REALTORS® to Congress (http://www.houselogic.com/news/issues-affecting-home-owners/renew-flood-insurance-program/)

The federal government’s national flood insurance program is set to expire at the end of this month, leaving thousands of home buyers without access to affordable coverage – unless Congress renews the program. “Real estate markets are continuing to recover and can’t tolerate the instability of operating the NFIP by stopgap or shutdown,” NATIONAL ASSOCIATION OF REALTORS® President Moe Veissi told a Congressional panel May 9. “More than 5 million home and business owners in 21,000 communities rely on it.”

National Journal: Thousands of Realtors to Rally Next Week (http://influencealley.nationaljournal.com/2012/05/thousands-of-realtors-to-rally.php)

The NATIONAL ASSOCIATION OF REALTORS® will hold a rally near the Washington Monument May 17 to which members of Congress, such as Rep. Steny Hoyer (D-Md.) and Sen. Johnny Isakson (R-Ga.), and up to 10,000 REALTORS® are expected to attend. The Rally to Protect the American Dream is aimed at calling attention to the role home ownership plays in helping the economy.

Wall Street Journal: Vacation Homes Beckon (http://online.wsj.com/article/SB10001424052702303877604577382002073347624.html?mod=googlenews_wsj)

If you’re thinking of buying a second home in the next five years, this might be your best opportunity. Near-record-low mortgage rates, bargain prices, and dwindling home inventories are bringing some once-untouchable markets within reach for the first time in a decade, say housing market experts.

Have a Great day,

Keith Parrett
Realtor/CDPE – Realty World
(925) 580-4650
keith@keithparrett.com
www.keithparrett.com
License No: 01714500

Article From HouseLogic.com

By: Meghan Smith
Published: May 11, 2012

Visit houselogic.com for more articles like this. Reprinted from HouseLogic with permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2012. All rights reserved.

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