CharlesRutenbergBlog.com

Referral Contest Starts Feb 1, 2012

Ray Zabielski — Wed, 01 Feb 2012 17:50:28 +0000

We are excited to announce that, for every new agent that joins the company in Illinois between Feb 1 and Mar 31, 2012 as a result of being referred by a CRR agent, that referring agent will receive one chance in a drawing for a new iPad2. This is in addition to the $75.00 appreciation gift we will also send to the referring agent. The drawing will be held the first part of April 2012.

Please click here to see the video announcement

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Housing Crisis to End in 2012 as Banks Loosen Credit Standards

Ray Zabielski — Mon, 30 Jan 2012 20:44:49 +0000

Check out this article from DSNews.

Housing Crisis to End in 2012 as Banks Loosen Credit Standards

dsnews.com - Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. The analytics firm notes the average credit score required to attain a mortgage loan…

http://goo.gl/EwoR8

Charles Rutenberg Realty Credentials

Ray Zabielski — Thu, 26 Jan 2012 02:06:33 +0000

Click on name to see Charles Rutenberg Realty Credentials

Latest on License Law

Ray Zabielski — Wed, 25 Jan 2012 21:09:01 +0000

Looking for proficiency exam locations?
IAR has more than 60 exam locations located around the state and space will get limited after March 1. The best advice? Take your exam as soon as possible!

Want a quick (and cost-effective) route to get your transition and CE?
Take the “IAR 30-Hour Transition Home Study” course (Item #625) available from the IAR REALTOR® Store – look under store category “Pre-License.” The cost is $165. Once you have successfully completed the 30-hour course, there are no other continuing education hours required to renew your license. You also earn credit for GRI Course 1. This option is particularly good for members who are licensed as a salesperson and who have not taken any CE yet this year.

IAR Transition Help Line
The IAR Transition Help Line is available 9 a.m. to 3 p.m. Monday through Friday. E-mail questions@IARlicenselaw.org or call 877-538-5861. Due to the high volume of calls to the help line, you may have to leave a voice message. You can also find transition information at IARlicenselaw.org.

The Trend Has FINALLY Turned in Real Estate

Ray Zabielski — Thu, 19 Jan 2012 18:18:13 +0000

By Dr. Steve Sjuggerud

Thursday, January 19, 2012

“Something’s up down here,” my brother told me over the weekend.

“Right now, I’m unable to buy a distressed property,” he said. He’s been trying to buy quality properties where he can get a good price – properties like bank-owned real estate, foreclosures, short sales, and such – in Central Florida.

But lately, he simply can’t do it.

“It seems like the Realtors and the big investors are tied up with each other,” he explained.

“These properties are disappearing from the market before they’re even on the market. And for the ones that DO make it to the market, the bids I’ve made on Day One – even above asking price – haven’t been accepted.”

Somehow, my brother didn’t even come away with Grandma’s house (as I wrote about here).

I think this is interesting…

It’s anecdotal evidence of what I believe is happening right now. I believe the signals are telling us the housing market is finding its “clearing price” right now…

This is it. This is the bottom. There are plenty of buyers at this moment to match the sellers. The latest stories from my brother – combined with the most recent data and the “leading indicators” – tell me the bottom should be in… or very close.

As a leading indicator, something I find interesting is the dramatic rise in home-improvement stocks, like Home Depot and Lowes. Home Depot is now at 10-year highs. When a stock is hitting 10-year highs, whatever was troubling it before is over…

Stock-price activity often leads economic activity… So is the dramatic risk in home-improvement and homebuilding stocks wishful thinking from stock traders? Or is the rise in these shares leading economic activity in housing?

I think this is legit… The latest data backs that up…

Yesterday, Bloomberg News reported, “Confidence Among U.S. Homebuilders Climbs to Highest Since 2007.”

Bloomberg said, “Confidence among U.S. homebuilders rose in January to the highest level in more than four years as sales and buyer traffic improved… Record-low borrowing costs, a growing population, and reduced prices may drive demand for homes this year…”

Another simple piece of data where you can see some improvement is in building permits issued for single-family homes. And it’s not rocket science… If you’re going to have a recovery in housing, you need a recovery in building permits. It’s the first step to building a new house.

Building permits bottomed out three years ago. But they’ve been recovering:

The recovery in permits is not huge. But we are still off the lows of three years ago. It’s a move in the right direction.

I could go on… The general picture is that consumer confidence is rebounding.Things are getting less bad.

The official statistics of home prices might not show the recovery yet… because they are always MONTHS old. But I strongly believe the bottom is in, right now. Today.

Invest accordingly.

Good investing,

Steve

Further Reading:

“With prices this low, you need to consider buying a house,” Steve writes. “If you can buy and hang on for a couple years, it could be the lowest-risk, highest-reward investment you ever make…” Find more evidence the housing market has bottomed here: Those Fools… The Housing Bust is OVER.

If you’re still not convinced real estate is one of the best values out there right now, listen to the proof. Steve shares two incredible real estate deals… These deals are real, and they’re happening right now.

December Sale Transactions up 16.9%

Ray Zabielski — Tue, 17 Jan 2012 16:55:40 +0000

Charles Rutenberg Realty in Illinois found December 2011 sale transactions were up 16.9% over November 2011 and an impressive 56.5% over December 2010. While the number of transactions increased, average sale prices fell. The average sale price for all transactions in 2011 was 7.5% lower than the average sale price for all transactions in 2010.

Inexpensive solutions for your Illinois real estate education needs

Ray Zabielski — Sat, 14 Jan 2012 18:00:02 +0000

Sure Win CE provides simple inexpensive solutions for your Illinois real estate education needs. Whether education for the current real estate professional or professional education to get your real estate license, we are here for you. Contact Sure Win CE for all the details regarding licensing in Illinois along with the education courses to move forward. If you have questions, need help ordering or would like to pay by check call them at 888-844-7515.

http://www.surece.com/

Zillow: Home values in November back at 2003 levels

Ray Zabielski — Tue, 10 Jan 2012 15:44:58 +0000

by KERRI PANCHUK Tuesday, January 10th, 2012, 8:05 am

Home values in the United States in November remained flat with the prior month but declined 4.6% from last year, according to the latest real estate markets report fromZillow Inc.

The company’s home value index, which measures prices across the nation, shows the average home price was $147,800 in November, the same level recorded in 2003.

Of the 165 housing markets tracked by Zillow, 60% noted appreciating or flat home values in November, including Los Angeles, Washington, Miami-Ft. Lauderdale, Fla., San Francisco and Detroit.

Zillow said foreclosure liquidations rates are down sharply in the wake of the robo-signing controversy last year, which slowed foreclosure processing overall.

In November, slightly more than eight of every 10,000 homes in the country were foreclosed upon. That is down from October 2010 when 11 of every 10,000 residential properties faced a similar fate. Zillow’s numbers are based on completed foreclosures.

Zillow said the number of foreclosures could rise again if attorneys general reach a settlement with financial firms, giving banks more certainty over the foreclosure process.

“Overall, we are seeing encouraging signs in housing data such as sequential months of slowing depreciation rates, stabilizing markets and organic improvement in value trends, largely in the absence of government policy intervention,” said Stan Humphries, Zillow chief economist.

“However, we’re not out of the woods yet,” he said. “Supply and demand are still not in balance in many markets and we do expect higher foreclosure liquidation rates near-term, which will put additional downward pressure on home values.”

Freddie extends mortgage forbearance for unemployed

Ray Zabielski — Fri, 06 Jan 2012 21:37:04 +0000

Mortgage finance firm Freddie Mac will give unemployed borrowers a break on their mortgage for up to one year. “These expanded forbearance periods will provide families facing prolonged periods of unemployment with a greater measure of security by giving them more time to find new employment and resolve their delinquencies,” said Tracy Mooney, senior vice president [...]

Good News in Home Sales

Ray Zabielski — Thu, 05 Jan 2012 18:17:43 +0000

NAR released its pending home sales index figure last week, and for the second month in a row, the index is up. What’s more, the index has broken 100. That’s significant because the only other time the index has hit 100 in recent years is when the home buyer tax credit was available. “It is the natural, organic power of great affordability conditions and job creation that is bringing the index level up,” says NAR Chief Economist Lawrence Yun. “This is a very encouraging sign.”
Hear more from Lawrence Yun on trends in housing data and sales Click Here