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Milestone Realty Consultants Unveils a New Way to Search for Real Estate - Lifestyle Search

06/01/11 by Milestone Realty Consultants

Milestone Realty Consultants is pleased to announce the release of their new lifestyle search engine, an innovative home search tool that creates a personalized search experience for real estate customers. Through lifestyle search, users have the ability to search for homes based on parameters most important to them. Whether that’s family-friendly areas or homes close to highly rated schools, nightlife or shopping, the system will match each user’s requirements with a targeted list of ideal communities in their area.

Using a sliding scale, customers rank how important each criteria is to their particular lifestyle and needs. The system then finds the best neighborhoods to fit those criteria and showcases available homes in that area. Once they’ve found their ideal neighborhood, customers can narrow their search based on number of beds and baths, square footage, price range and more.

Judy Craft, Principal Broker at Milestone Realty Consultants had the following to say, "As real estate practitioners we understand the value placed on lifestyle choices rather than just bricks and mortar.  We are pleased to be the first real estate company in the state to offer this feature on our website.  We are dedicated to providing the complete real estate experience for our clients by focusing on their ideal living environment, not simply a price point."

As a member of The Active Enterprise Network, Milestone Realty has access to The Network’s technology platform and Onboard’s community data needed to power the lifestyle search engine. As one of the first members to implement this technology, Milestone Realty is able to further enrich the user experience and gain a competitive advantage in the Real Estate Industry.

“Through lifestyle search, not only is Milestone Realty providing a service that the competition doesn’t offer, but they’re able to engage the customer and increase the likelihood that they will buy or sell a home from them in the future. The unique approach and added convenience this functionality brings increases the usability of their site and creates a positive experience for their users. We’re excited about this new endeavor and feel this partnership will bring nothing but opportunity for Milestone Realty” states Ido Zucker, Managing Partner at Active Website LLC.

The search parameters within the lifestyle search engine are based on over a decade of Onboard’s experience developing Best Places to Live solutions for top publishers such as CNN/Money, U.S. News & World Report and BusinessWeek. To ensure accuracy of the search results, the search engine combines millions of data points ranging from population demographics to housing trends to local points of interest and more.

About Milestone Realty Consultants

Milestone Realty Consultants is a full service real estate brokerage serving Central Kentucky and the Greater Louisville Area. With offices in Lexington, Louisville and Georgetown and a highly efficient team featuring some the most decorated real estate agents in the area, Milestone is truly a "one-stop shop" for all of your real estate needs.

About The Active Enterprise Network

The Active Enterprise Network member base is by invitation only. Comprised solely of private real estate firms, The Enterprise Network does not accept national brands and only works with one company per marketplace. This exclusivity allows for open collaboration and sharing of information within The Network, free from any conflict of interest. The goal for members under The Enterprise Network umbrella is to address the technology demands that are emerging in today's changing real estate market. Together, Enterprise Network members can make the best decisions concerning implementation of systems and solutions, ultimately leveraging everyone to higher levels of business.

About Onboard Informatics

Since 2001, Onboard Informatics has provided comprehensive local, regional and national real estate data solutions, powerful Web tools and Web services to some of the most innovative companies in the real estate, publishing, and technology.  Onboard delivers seamless integration of property listings, community, school, neighborhood, geographic and demographic information to support clients in achieving business objectives on Web and mobile platforms.  Privately held since its founding, Onboard is located in the heart of the world’s financial center in the Wall Street area of New York City.  For more information about Onboard Informatics visit www.onboardinformatics.com.


Ball Homes Wins Reader's Choice Award

08/11/10 by Milestone Realty Consultants

Milestone Realty Consultants would like to congratulate Ball Homes for winning the Readers' Choice 2010 Award from the Lexington Herald-Leader for Your Favorite Shopping and Services: Home Builder.

When asked, Fran Stadelman, Sales & Marketing Spokesperson for Ball Homes said, "One of the keys to Ball's success is realizing how things change and keeping up with that change to deliver what customers want."

The 2010 Readers' Choice is an unscietfitic sampling based on subjective responses of Lexington Herald-Leader readers and Kentucky.com viewers. According to the Lexington Herald-Leader more than 300,000 votes were submitted May 30th through June 25th on Kentucky.com.

For a complete list of winners visit Kentucky.com/ReadersChoice.

Grand Tour of Homes Awards

06/21/10 by Milestone Realty Consultants
Grand Tour of Homes 2010

The Home Builders Association of Lexington announced the awards for its annual Grand Tour of Homes. The event was held June 5-6 and 12-13 and featured 46 new Central Kentucky houses. Awards were given in five categories, based on the price of the homes.

Three of Milestone's builders won in the following categories.

 $117,900-$129,900

Via Vitae for "The Berkley" on 548 East Fifth Street in Equestrian View.
Lexington, Kentucky
First Floorplan
Second Kitchen, Owner's Suite and Interior Design

$150,000-$185,00

Ball Homes for the "Montego II" on 712 Cielo Vista Road in Greendale Villas at Masterson.
Lexington, Kentucky
First Exterior, Floor Plan, Interior Features
Second Kitchen
Third Owner's Suite

$190,000-$210,000

Ball Homes for the "Linden II" on 905 Serviceberry Drive in The Reserve at Greendale.
Lexington, Kentucky
First Kitchen, Owner's Suite
Second Exterior, Floor Plan, Interior Feature

$215,000-$255,000

Ball Homes for the "Ashley IIB" on 965 Jouett Creek Drive in Chilesburg.
Lexington, Kentucky
First Kitchen, Owner's Suite, Floor Plan, Interior Features

$269,000-$300,000

Azalea Properties for the "The Arbors of Sugartree" on 107 Sugartree Lane in Sugartree.
Versailles, Kentucky
First Exterior, Interior Features
Second Owner's Suite
Third Floor Plan

Ball Homes for the "Charleston IIA" on 953 Jouett Creek Drive in Chilesburg.
Lexington, Kentucky
First Kitchen
Third Exterior

$190,000-$210,000

Ball Homes for the "Augusta II" on 4060 Mooncoin Way in Glasford.
Lexington, Kentucky
First Kitchen
Second Exterior, Owner's Suite, Floor Plan, Interior Feature



 

2009 Salute to the Stars Winners

02/22/10 by Milestone Realty Consultants

This past Saturday night Home Builders Association of Lexington Sales & Marketing Council prestented "Salute to the Stars 2009", an award ceremony recognizing associate members, developers, remodelers and builders throughout Central Kentucky. Milestone Realty Consultants along with Ball Homes and Azalea Properties were fortunate to take home awards in the following categories:

Best Realtor or Associate Piece of the Year For

Flyer/Mailer - Milestone Realty Consultants - Bethany Wood Subdivision
Direct Mail Program - Milestone Realty Consultants - Pam Evans
A Builder - Milestone Realty Consultants for Ball Homes

Best TV/Video Ad

Builder - Ball Homes
Associate - Milestone Realty Consultants

Best Radio Spot

Associate - Milestone Realty Consultants
Builder - Ball Homes

Best Website

Builder - Milestone Realty Consultants for Azalea Properties
Associate - Milestone Realty Consultants

Best Decorated Interior for $0-$299,999

Ball Homes

Best Decorated Interior for $300,000-$749,999

Ball Homes

Best New Home Design Category for $150,000-$299,999

Ball Homes

Outstanding Performance in New Home Sales

Bronze - Scott Floro, Mary Layton, Pam Evans, Greg Howard and Deborah Back
Silver - Yates Wieland, Todd Starns, Todd Back, Pearl Luttrell and Brandt Ely
Gold - Malcom Meers, John Griffin, Fred Kamdar, Erin Lewis, Ben Brown, Drew Hewlett and Dale Ferguson
Platinum - Mike Wheatley, Matt Gerwin, Greg Back, Erin Raymond and David Stewart
Team - Joan Stafford & Connie Greathouse

Pinnacle Award

Mike Wheatley

Milestone Realty Consultants Launches New Website

12/10/09 by Milestone Realty Consultants

FOR IMMEDIATE RELEASE

Kentucky based real estate company, Milestone Realty Consultants, has just launched their new website in collaboration with Active Website. Understanding the importance of their customers, Milestone’s website was designed with enhanced usability based around the needs of their users. By establishing a more customer centric business model, Milestone has embraced the new age consumer and is working towards meeting their technology demands.

The new website boasts a variety of new features including mapping technology through Google Maps, advanced search engine optimization and social networking integration – just to name a few. Another new enhancement to the site is the inclusion of the “Where do I go Next?” action button on the bottom of the website’s subpages. This provides customers with a next step option for relevant browsing, allowing maximum usability by establishing pre-engineered click paths for users.

Additional website highlights include:

  1. 3 different options for Individual Property Websites (IPWs) that feature luxury Kentucky houses and provide enhanced listings with photos, video and floor plans.
  2. Milestone Agent Websites powered by the corporate site offer continuity while incorporating each agent’s individual branding. The agents’ sites keep the user in mind by utilizing the same features as the main site, plus the ability to add their own content.
  3. Multimedia integration of virtual home tours, property websites and ad archives.
  4. The combination of social networks, blogs and mobile devices now provide real time data to customers.
  5. New customer membership program allows customers to create an account for receiving email alerts when properties match their criteria and lets users share properties with their agent, family and friends.
  6. Tour our cities videos give an overview of the entire community and surrounding area streamed from Milestone’s homepage.
  7. Comprehensive community information shares market statistics covering demographics, recreation and schools in the area with the inclusion of important links of interest.
  8. Syndication to numerous top real estate sites including Zillow, Trulia and HGTV’s Frontdoor that feature great Georgetown homes, Richmond property, and more.

 

“We believe this new technology will help position us as the number one real estate company in the region as we move forward into 2010. Milestone has always been dedicated to providing the best tools and resources to our customers and agents and we look forward to the opportunities that await us as in the future,” says Milestone’s Managing Broker, Judy Craft.

Creating a useful and engaging experience for users, Milestone’s web platform has made available a vast amount of resources that encourages customers to explore the site with ease. With the use of cutting-edge tools, features and content, the new layout and navigation will help increase Milestone’s SEO standing while maintaining current clients and attracting new customers to their site as well.

About Milestone Realty Consultants

With a heritage deeply entrenched in the real estate industry, the founding family of Milestone Realty Consultants has been a pillar of the Central Kentucky community since 1959. Starting as a family owned business, Don and Mira Ball have built their real estate company from a family owned and operated homebuilding company along with their three children, into one of the most professional and respected real estate companies in the nation. The success of Milestone has been unsurpassed in Kentucky by attracting many of the areas most seasoned real estate professionals searching for a company with an emphasis on customer service. If you’re looking for Lexington homes or property in a surrounding region, Milestone is the perfect place for all your needs.

Truly a “one-stop shop,” the Milestone team is comprised of a Real Estate Division with offices in Lexington and Georgetown, Walden Mortgage Group, LLC, Walden Title, an in house Rental Division and a truly outstanding Relocation Division. Milestone Realty Consultants and its exemplary agents adhere to “A Higher Standard” which ensures quality services to the all their clients.

About the Enterprise Network

The Enterprise Network member base is by invitation only. Comprised solely of private real estate firms, the Enterprise Network does not accept national brands and only works with one company per marketplace. This exclusivity allows for open collaboration and sharing of information within the Network, free from any conflict of interest. The goal for members under the Enterprise Network umbrella is to address the technology demands that are emerging in today's changing real estate market. Together, Enterprise Network members can make the best decisions concerning implementation of systems and solutions, ultimately leveraging everyone to higher levels of business.

 

About Active Website

Active Website is a Colorado-based company specializing in web design and development. Founded in 1998, the company has rapidly become an industry leader with major clients including Ebby Halliday Realtors, The Group, Inc., Helen Adams Realty, The Kentwood Companies, LandVest, Milestone Realty Consultants, N.T. Callaway Real Estate Broker, LLC, Windermere Tri-Cities, Wright Kingdom Real Estate, Sonnenalp Real Estate, Residential Properties Ltd., Charles Reinhart Company Realtors, Smith & Associates Real Estate, Danberry Realtors, Skogman Realty as well as several new members to be announced soon.

The Active Website site provides detailed information about each of Active Website’s real estate technology products and services, as well as an extensive portfolio and client testimonials. Visit www.activewebsite.com for more information.

Files: Press Release

Median sales prices rise 4% in Bluegrass, while nation posts 2.4% loss

11/03/10 by Milestone Realty Consultants

Sales in Central Kentucky for September 2010 fell 35%, while the National Association of REALTORS® posted a 19% decrease in sales for the nation. Central Kentucky real estate market statistics for the prior three months are very similar, as we are still seeing the effects of the end of the homebuyer tax credit earlier this year.  In spite of this, sales in the Bluegrass for the first nine months of 2010 are only down 1% compared to the same time period in 2009. 

More importantly, however, is the fact that median sales prices for Bluegrass homes rose 4% for September 2010 versus September 2009.  This figure dropped 2.4% for the U.S. as a whole for the same time period. Milestone Realty Consultants Principal Broker Judy Craft says, “This once again illustrates that even though sales are slowing, Central Kentucky home prices and values remain very stable.”

Pending sales dropped 36% in September 2010 vs. September 2009.  The active number of listings or inventory on the market for Central Kentucky in September was 6,897 which is up 11% compared to September 2009. 

Truly a “one-stop shop”, the Milestone Team is comprised of the real estate division, with offices in Lexington, Louisville, Georgetown and Richmond, Walden Mortgage Group, LLC, Walden Title, our Rental Division and a truly outstanding Relocation Division. Visit MilestoneKY.com or call 859-245-1179 for property listings, area statistics and community resources. To arrange an interview with Judy Craft, please call Katie Rowan with Milestone Realty Consultants at 859-514-5420 or e-mail krowan@milestoneky.com.          

Editor’s Note: See the following for related charts.


 

Bluegrass real estate market in August mirrors July; sales still up 4% for year-to-date

09/29/10 by Milestone Realty Consultants

Sales in Central Kentucky for August 2010 fell 26%, while the National Association of REALTORS® posted a 17% decrease in sales for the nation. Central Kentucky real estate market statistics for August 2010 look very similar to those of last month, as we are still seeing the effects of the end of the homebuyer tax credit.  In spite of this, sales for Bluegrass homes for the first eight months of 2010 are still up 4% compared to the same time period in 2009.
 
Pending sales dropped 26% in August 2010 vs. August 2009.  The active number of listings or inventory on the market for Central Kentucky in August was 7,057 which is up 10% compared to August 2009. 

Milestone Realty Consultants Principal Broker Judy Craft comments that, “Although Bluegrass real estate figures have been down for the past two months due to the deadline passage of the homebuyer tax credit, the local market still provides buyers with many affordable choices at stable prices.” Additionally, the 30-year mortgage rate is at generational lows. According to Freddie Mac, as of August 19th that rate was at 4.42%.

Truly a “one-stop shop”, the Milestone Team is comprised of the real estate division, with offices in Lexington, Louisville, Georgetown and Richmond, Walden Mortgage Group, LLC, Walden Title, our Rental Division and a truly outstanding Relocation Division. Visit milestoneky.com or call (859) 245-1179 for property listings, area statistics and community resources. To arrange an interview with Judy Craft, please call Katie Rowan with Milestone Realty Consultants at 859-514-5420 or e-mail krowan@milestoneky.com.         

 Editor’s Note: See the following for related charts. 

Bluegrass homes

Bluegrass homes

Bluegrass homes

Bluegrass Real Estate Market Favors Buyers After Homebuyer Tax Credit Deadline Passes

08/31/10 by Milestone Realty Consultants

Sales for Central Kentucky houses for July 2010 fell 31%, while the National Association of Realtors® posted a 27% decrease in sales for the nation. Buyers who took advantage of the home buyer tax credit caused a surge in sales in the Bluegrass from October 2009 to May 2010. Since the deadline for the tax credit has passed, sales are now slowing down. However, sales in the Bluegrass for the first seven months of 2010 are still up 9% compared to the same time period in 2009. 

The average days on market for homes sold in the Bluegrass in July dropped 6% to 82 days compared to July of last year. The same figure for townhouses and condos dropped 27% to 85 days.

Pending sales dropped 30% in July 2010 vs. July 2009.  The active number of listings or inventory on the market for Central Kentucky in July was 7,106 which is up 11% compared to July 2009.  Both pending sales and active listings figures are being impacted due to the ending rush to place contracts on homes as buyers met the tax deadline.  

Milestone Realty Consultants Principal Broker Judy Craft comments that, “now that the rush to meet the tax credit deadline has passed, the market is definitely presenting buyers with favorable conditions to purchase a home including rock-bottom mortgage rates and plentiful inventory.”
Truly a “one-stop shop”, the Milestone Team is comprised of the real estate division, with offices in Lexington, Louisville, Georgetown and Richmond, Walden Mortgage Group, LLC, Walden Title, our Rental Division and a truly outstanding Relocation Division. Visit milestoneky.com or call (859) 245-1179 for property listings, area statistics and community resources. To arrange an interview with Judy Craft, please call Katie Rowan with Milestone Realty Consultants at (859) 514-5420 or e-mail krowan@milestoneky.com.          

Editor’s Note: See the following for related charts. 

Bluegrass real estate sales up 20% year-to-date, new construction sales up 80% for June

07/23/10 by Milestone Realty Consultants

Sales in Central Kentucky for 2010 as of June 30 were up 20% compared to 2009, while nationally that figure is only up 3% according to the National Association of REALTORS® (NAR).

June 2010 sales were only up 1% compared to June 2009, while the NAR posted an 8.3% gain for the nation for the same time period. Milestone Realty Consultants Principal Broker Judy Craft comments that, “while sales in June did not outpace national figures, cumulatively for 2010 the Bluegrass has outpaced national sales dramatically. Because of the stable local economy Central Kentucky has benefited from the housing tax credits more than the nation as a whole.”

New construction sales in June 2010 vs. June 2009 were up 80%.  Sales of new homes were down as much as 23% in January 2010 vs. January 2009, but have made significant jumps with each passing month this year.

Pending sales dropped 29% for June 2010 vs. June 2009. This figure may continue to linger in the negatives as the tax credit deadline continues to factor in; however, it is up 31% compared to May 2010. 

The active number of listings or inventory on the market for Central Kentucky houses in June was 6,842 which is up 6% compared to June 2009.

Truly a “one-stop shop”, the Milestone Team is comprised of the real estate division, with offices in Lexington, Louisville, Georgetown and Richmond, Walden Mortgage Group, LLC, Walden Title, our Rental Division and a truly outstanding Relocation Division. Visit MilestoneKY.com or call (859) 245-1179 for property listings, area statistics and community resources. To arrange an interview with Judy Craft, please call Katie Rowan with Milestone Realty Consultants at (859) 514-5420 or e-mail krowan@milestoneky.com.

See the following for related charts
Milestone Market Update - Slide 1 Milestone Market Update - Slide 2 Milestone Market Update - Slide 3 Milestone Market Update - Slide 4 Milestone Market Update - Slide 5 Milestone Market Update - Slide 6 

Bluegrass real estate sales up 39% in May while nation shows only 18% jump

06/25/10 by Milestone Realty Consultants

Sales in Central Kentucky for May 2010 rose 39%, while the National Association of REALTORS® (NAR) posted only a 17.7% increase in sales for the nation. Milestone Realty Consultants Principal Broker Judy Craft comments that, “while sales in May are still reflective of the tax credit, the Bluegrass region’s sales increase was double than that of the nation. This shows just how much confidence buyers and sellers have in the region.”
    
The Bluegrass currently has a 7.2 months supply of homes on the market which is 27% lower than last year’s 9.8 months supply. The NAR reports that the nation has an 8.3 months supply of inventory but that is only 14.4% less than at the same time last year.

Median sales prices in the Bluegrass also outpaced national figures. The median sales price for residential homes rose 5% to $146,000 in May 2010 vs. May 2009. Nationally, that figure only rose 3.8%.

The average days on market for residential sales in Central Kentucky houses fell 7% to 79 days. The same figure for townhouses and condos was unchanged at 88 days for May 2010 vs. May 2009.

Not surprisingly, pending sales dropped 41.6% in May 2010 vs. May 2009. Buyers were up against the deadline for the tax credit in April and now the rush to get a contract on a home has slowed.

The active number of listings or inventory on the market for Central Kentucky in May was 6,642 which is up 3% compared to May 2009.

Truly a “one-stop shop”, the Milestone Team is comprised of the real estate division, with offices in Lexington, Louisville, Georgetown and Richmond, Walden Mortgage Group, LLC, Walden Title, our Rental Division and a truly outstanding Relocation Division. Visit milestoneky.com or call 859-245-1179 for property listings, area statistics and community resources. To arrange an interview with Judy Craft, please call Katie Rowan with Milestone Realty Consultants at 859-514-5420 or e-mail krown@milestoneky.com.     

Editor’s Note: See the following for related charts.

Milestone Market Update - Slide 1

Milestone Market Update - Slide 2

Milestone Market Update - Slide 3

For a more printer friendly version of this report, please click Milestone Market Press Release May 2010.

Central Kentucky real estate sales up 36% in April while nation shows only 26% jump, pending sales up 41%

05/24/10 by Milestone Realty Consultants

Sales in Central Kentucky for April 2010 rose 36%, while the National Association of REALTORS® (NAR) posted a 26% increase in sales for the nation. Milestone Realty Consultants Principal Broker Judy Craft comments that, “many buyers took advantage of the tax credit which ended April 30. However, it is not surprising that the Bluegrass region outperformed the nation with regard to sales because of our relatively stable local economy.”

Pending sales for the region were up 41% compared to April 2009 as buyers placed contracts on homes before the ending of the tax credit.

The Bluegrass region currently has an 8.7 month supply of homes on the market which is 24% lower than last year’s 11.5 month supply. NAR reports that the nation has an 8.4 months supply of inventory but that is only 16.8% less than at the same time last year.

Likely due to increasing sales, the average days on market fell 17% to 89 days for residential homes in the Bluegrass and fell 42% to 93 days for townhouses/condos vs. April 2009.

The active number of listings or inventory on the market for Central Kentucky in April was 6,462 which is up 3% compared to April 2009. With a double digit increase in sales and a falling months supply of inventory sellers are feeling confident in placing their homes on the market.

Truly a “one-stop shop”, the Milestone Team is comprised of the real estate division, with offices in Lexington, Louisville, Georgetown and Richmond, Walden Mortgage Group, LLC, Walden Title, our Rental Division and a truly outstanding Relocation Division.Visit www.milestoneky.com or call 859-245-1179 for property listings, area statistics and community resources. To arrange an interview with Judy Craft, please call Katie Rowan with Milestone Realty consultants at 859-514-5420 or e-mail krowan@milestoneky.com.

Editor’s Note: See the following for related charts.

Central Kentucky*:  Monthly Percentage Change  vs. Last Year for Inventory

Central Kentucky*:  Monthly Percentage Change  vs. Last Year for Pending Sales

Central Kentucky*:  Monthly Percentage Change  vs. Last Year for Inventory 

Walden Mortgage Group's Weekly Newsletter

08/03/10 by Milestone Realty Consultants

Home Prices Increase Again

Single-family home prices rose more than expected in May according to the new release of the Standard and Poor's/Case Chiller home price index.

The 20-city composite price index rose 0.5% in May and April was upwardly revised to an increase of 0.6%.  Economists had been expecting a smaller gain in the range of 0.2%.  While these monthly increases appear small, they do indicate a trend towards housing stability after the bottom in 2009.  The index showed a 4.5% increase on a year-over-year basis and it is the 14th straight month of improvement in this report.

What Happened to Rates Last Week

Mortgage backed securities (MBS) gained +66 basis points last week which caused 30 year fixed rates to decrease for both government and conventional loans.  The gains in mortgage backed securities (the only thing 30 year conventional mortgage rates are based on) were the result of concerns about the stability of our economic recovery.  While we had a week of stronger than expected housing data across the board, the market reacted to a lower than expected economic growth rate (GDP) and deflationary concerns. 

What to Watch Out For This Week

The following are the major economic reports that will hit the market this week.  They each have the ability to affect the pricing of Mortgage Backed Securities and therefore, interest rates for Government and Conventional mortgages.  We will be watching these reports closely for you and let you know if there are any big surprises

Date ET Release For
2-Aug 10:00 Construction Spending Jun
2-Aug 10:00 ISM Index Jul
3-Aug 8:30 Personal Income Jun
3-Aug 8:30 Personal Spending Jun
3-Aug 8:30 PCE Prices - Core Jun
3-Aug 10:00 Factory Orders Jun
3-Aug 10:00 Pending Home Sales Jun
3-Aug 14:00 Auto Sales Jul
3-Aug 14:00 Truck Sales Jul
4-Aug 8:15 ADP Employment Change Jul
4-Aug 10:00 ISM Services Jul
4-Aug 10:30 Crude Inventories 31-Jul
5-Aug 8:30 Continuing Claims 24-Jul
5-Aug 8:30 Initial Claims 31-Jul
6-Aug 8:30 Nonfarm Payrolls Jul
6-Aug 8:30 Nonfarm Payrolls - Private Jul
6-Aug 8:30 Unemployment Rate Jul
6-Aug 8:30 Hourly Earnings Jul
6-Aug 8:30 Average Workweek Jul
6-Aug 15:00 Consumer Credit Jun


It is virtually impossible for you to keep track of what is going on with the economy and other events that can impact the housing and mortgage markets.  Just leave it to us, we monitor the live trading of Mortgage Backed Securities which are the only thing government and conventional mortgage rates are based upon.  

 
Mike Dunn, Holleigh Sharp & Jeff Sharp
Walden Mortgage Group
Office: (859) 514-4444
waldenmg.com

Walden Mortgage Group's Weekly Newsletter

07/22/10 by Milestone Realty Consultants

Foreclosure Rates Fall Again

U.S. foreclosure rates fell for the third straight month according to RealtyTrac's new report.  New foreclosure fillings in June dropped 2.81 percent from the previous month and 6.98 percent from the previous year.

While foreclosure rates are falling, they are still at high levels with 16 straight months of readings of over 300,000.  Still 410 out of every 411 homes are not in foreclosure, so there is still some strength in the housing market.

Consumer Prices Continue to Fall

Consumer Prices fell for the third straight month, providing bargains for American Shoppers.

The Consumer Price Index, the government's most closely watched inflation barometer, dipped 0.1 percent in June, according to the Labor Department. Less expensive energy bills were a big factor behind the drop. Prices for food items and airline fares also dropped last month.  Also, "core" consumer prices are holding near a 44 year low. 

What Happened to Rates Last Week

What Happened To Rates Last Week


Mortgage backed securities (MBS) gained +44 basis points last week which caused 30 year fixed rates to decrease for both government and conventional loans.  Rate declined on the back of some weaker than expected economic data.  Manufacturing Data, Consumer Price Index and Consumer Sentiment all were much worse than market expectations.  Economic concerns helped to push investors towards purchasing MBS as a way to earn low yields in exchange for safety that you cannot find in the stock markets.

What to Watch Out For This Week

The following are the major economic reports that will hit the market this week.  They each have the ability to affect the pricing of Mortgage Backed Securities and therefore, interest rates for Government and Conventional mortgages.  We will be watching these reports closely for you and let you know if there are any big surprises

Date ET Release For
19-Jul 10:00 National Homebuilders Association Index July
20-Jul 8:30 Building Permits Jun
20-Jul 8:30 Housing Starts Jun
21-Jul 10:30 Crude Inventories 17-Jul
22-Jul 8:30 Initial Claims 17-Jul
22-Jul 8:30 Continuing Claims 10-Jul
22-Jul 10:00 Existing Home Sales Jun
22-Jul 10:00 Leading Indicators Jun


It is virtually impossible for you to keep track of what is going on with the economy and other events that can impact the housing and mortgage markets.  Just leave it to us, we monitor the live trading of Mortgage Backed Securities which are the only thing government and conventional mortgage rates are based upon. 


Mike Dunn, Holleigh Sharp & Jeff Sharp
Walden Mortgage Group
Office: (859) 514-4444
waldenmg.com

Walden Mortgage Group's Weekly Newsletter

06/23/10 by Walden Mortgage Group

Sellers Stand Firm On Listing Prices

A new study by Trulia.com showed that sellers lowered their asking price at least once on 22 percent of homes listed for sale as of June 1st.  This means that 88% of sellers did not lower their asking price from listing to sale.

The 22% is a decrease from this time last year where the number was 23.6%.  More expensive homes ($2 million and up) saw the largest price reductions.  Real estate is very localized:  A year ago Las Vegas saw price decreases on 30% of all listings.  But this time around, they only dropped prices on 10% of homes listed for sale.  But in Kansas City, prices were dropped on 31% of homes listed compared to 20% a year earlier.

Obviously, low 30 year fixed mortgage rates and the now expired tax credit has helped.  But the improvement in the ratio of original asking price vs. sold price is more likely the result of properly listing the home at the correct and current market price.

Consumer Prices Remain Tame

The Consumer Price Index declined -0.20% last month according to the U.S. Department of Labor.  This is very important to housing because consumers will hold off on major purchases if they feel that the cost of every day items is increasing.  So, this report is a positive for housing.

The Producer Price Index also shrank.  It decreased -.30%, which means that costs are not increasing for manufacturers and it probably will lead to continued lower prices for consumers. 

What Happened to Rates Last Week

What Happened To Rates Last Week

Mortgage backed securities (MBS) gained +47 basis points last week which caused 30 year fixed rates to decrease for both government and conventional loans.  We saw our best rates on Friday as the MBS market moved upward on the very weak Philly Fed Manufacturing data.

What to Watch Out For This Week

Date ET Release For
22-Jun 10:00 Existing Home Sales May
22-Jun 10:00 FHFA Housing Price Index Apr
23-Jun 10:00 New Home Sales May
23-Jun 10:30 Crude Inventories 19-Jun
23-Jun 14:15 FOMC Rate Decision 23-Jun
24-Jun 8:30 Durable Orders May
24-Jun 8:30 Durable Orders ex Transportation May
24-Jun 8:30 Initial Claims 19-Jun
24-Jun 8:30 Continuing Claims 19-Jun
25-Jun 8:30 GDP - Third Estimate Q1
25-Jun 8:30 GDP Deflator Q1
25-Jun 9:55 U Michigan Sentiment - Final J Jun


The following are the major economic reports that will hit the market this week.  They each have the ability to affect the pricing of Mortgage Backed Securities and therefore, interest rates for Government and Conventional mortgages.  We will be watching these reports closely for you and let you know if there are any big surprises

It is virtually impossible for you to keep track of what is going on with the economy and other events that can impact the housing and mortgage markets.  Just leave it to me, we monitor the live trading of Mortgage Backed Securities which are the only thing government and conventional mortgage rates are based upon. 


Mike Dunn, Holleigh Sharp & Jeff Sharp
Walden Mortgage Group
Office: (859) 514-4444
waldenmg.com

Walden Mortgage Group's Weekly Newsletter

06/14/10 by Walden Mortgage Group

Tax Credits May See Extension

The home buyer's tax credit has been wildly popular. It gave both first time and previous home buyers a sizeable tax credit provided that they sign a purchase contract no later than the end of April and close no later than the end of June.

It was so successful, that pending home sales (contracts signed but not yet closed) rose 22.4% when compared to April 2009.  However, with increased underwriting turn times, many people that met the requirement by signing a contract before the end of April will not be able to close in time.  Under the current law, they would lose their tax credit.

Senator Harry Reid is offering an amendment to the American Jobs and Closing Tax Loopholes Act of 2010 that would extend the closing time from June 30th to September 30th.  Note: If you did not sign a contract by April 30th then there is no extension for you.  It is only for those that signed a contract in time but just can't close on time.  It remains to be seen if his proposal will pass, I will keep you posted.

Consumer Confidence Reaches a High Point

According to a newly released report by Reuters/University of Michigan, their Consumer Confidence index rose again to a reading of 75.5.  This is the best reading this year and the best reading since January 2008.

It shows a picture that consumers are more confident in how they perceive their economic outlook. A higher consumer confidence number generally signifies that consumers are more willing to spend.  This is important because consumer confidence is one of the largest factors in home demand.

What Happened to Rates Last Week

What Happened To Rates Last Week

Mortgage backed securities (MBS) lost -35 basis points last week which caused 30 year fixed rates to increase for both government and conventional loans.  We did have a large swing in the middle of the week that helped us to reach another new low in mortgage rates.  But we very quickly gave up those gains to close down for the week.

What to Watch Out For This Week

The following are the major economic reports that will hit the market this week.  They each have the ability to affect the pricing of Mortgage Backed Securities and therefore, interest rates for Government and Conventional mortgages.  We will be watching these reports closely for you and let you know if there are any big surprises:

Date ET Release For
15-Jun 8:30 Export Prices ex-ag. May
15-Jun 8:30 Import Prices ex-oil May
15-Jun 8:30 Empire Manufacturing Survey Jun
15-Jun 9:00 Net Long-Term TIC Flows April
16-Jun 8:30 Housing Starts May
16-Jun 8:30 Building Permits May
16-Jun 8:30 PPI May
16-Jun 8:30 Core PPI May
16-Jun 9:15 Capacity Utilization May
16-Jun 9:15 Industrial Production May
16-Jun 10:30 Crude Inventories 12-Jun
17-Jun 8:30 Initial Claims 12-Jun
17-Jun 8:30 Continuing Claims 5-Jun
17-Jun 8:30 CPI May
17-Jun 8:30 Core CPI May
17-Jun 8:30 Current Account Balance Q1
17-Jun 10:00 Leading Indicators May
17-Jun 10:00 Philadelphia Fed Jun


It is virtually impossible for you to keep track of what is going on with the economy and other events that can impact the housing and mortgage markets.  Just leave it to me, we monitor the live trading of Mortgage Backed Securities which are the only thing government and conventional mortgage rates are based upon.


Mike Dunn, Holleigh Sharp & Jeff Sharp
Walden Mortgage Group
Office: (859) 514-4444
waldenmg.com

Walden Mortgage Group's Weekly Newsletter

05/27/10 by Walden Mortgage Group

Foreclosure Rates Fall

The most recent sign of growth in the housing industry comes from a new report released by RealtyTrac.  They reported that foreclosures in the U.S. fell by more than 2% in April from a year earlier.  The great news is that this is the very first year-over-year decline since the housing crisis began.

RealtyTrac's index fell 9% from March 2010 to April 2010 and 2.4% from April 2009 to April 2010.  This data shows that the foreclosure situation is slowing and may have already hit a plateau.  Currently, 1 out of 387 homes are in foreclosure.  That means that 386 out of 387 homes are not in foreclosure!

Consumer Sentiment Strong

What Happened To Rates Last Week

The University of Michigan's Consumer Sentiment Index rose to its best levels since our Recession began.  This is very important because housing demand is very clearly tied with how consumers feel about economic conditions and their own financial outlook.

Consumer Sentiment rose to 73.3 in May, up from the April reading of 72.2.  Buried within this report were two other nuggets:  The survey showed that the consumer inflation expectation index rose to 3.1% which is the highest reading since June of 2009.  Inflation naturally causes mortgage rates to increase, so we need to keep an eye on this.

The survey's gauge of current economic conditions edged upward to a very high 81.1 and the barometer of consumer expectations also rose in May to 68.3.

What Happened to Rates Last Week

What Happened To Rates Last Week

Mortgage backed securities (MBS) gained +7 basis points last week which caused 30 year fixed rates to decrease for both government and conventional loans to their best levels of 2010.  MBS pricing increased (which causes mortgage rates to go down) due primarily to Greece. Although there is over $1 trillion that has been made available through loans by the IMF, the European Union, and individual countries in the EU, most economists are skeptical that it is enough to stem the tide.  The global uncertainty causes investors to park their money into U.S. treasuries and MBS.  This artificial (and temporary) demand helped to push mortgage rates down after a very volatile week.

What to Watch Out For This Week

The following are the major economic reports that will hit the market this week.  They each have the ability to affect the pricing of Mortgage Backed Securities and therefore, interest rates for Government and Conventional mortgages.  We will be watching these reports closely for you and let you know if there are any big surprises:

Date

ET

Release

For

17-May

9:00

Net Long-Term TIC Flows

Feb

18-May

8:30

Building Permits

Apr

18-May

8:30

Core PPI

Apr

18-May

8:30

Housing Starts

Apr

18-May

8:30

PPI

Apr

19-May

8:30

Core CPI

Apr

19-May

8:30

CPI

Apr

19-May

10:30

Crude Inventories

15-May

20-May

8:30

Continuing Claims

15-May

20-May

8:30

Initial Claims

15-May

20-May

10:00

Leading Indicators

Apr

20-May

10:00

Fed

May

It is virtually impossible for you to keep track of what is going on with the economy and other events that can impact the housing and mortgage markets.  Just leave it to us, we monitor the live trading of Mortgage Backed Securities which are the only thing government and conventional mortgage rates are based upon.   

Mike Dunn, Holleigh Sharp & Jeff Sharp
Walden Mortgage Group
Office: (859) 514-4444
waldenmg.com

3609 Walden Drive
Lexington, KY 40517

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