Monday, February 28, 2011
Don't get used to this!
Geopolitical events overshadowed this week's economic data and Treasury auctions. Unrest in the Middle East caused investors to seek relatively safer investments such as bonds. As a result, mortgage rates ended the week lower.
The violence in the Middle East reached a much greater level this week, as Libyan leader Gadhafi fought to retain control. Uncertainty about whether the violence will spread to other nations produced a "flight to safety", which means that investors shifted funds from risky assets such as stocks to relatively safer assets such as bonds. Higher demand for bonds, including mortgage-backed securities (MBS) helped mortgage rates improve.
As a result of the unrest in the Middle East, oil prices climbed to the highest levels since October 2008. When the current crisis eases, oil prices may move lower, but many investors expect that a higher risk premium will remain in the price of oil for quite a while. Higher oil prices impact mortgage rates in two opposing ways, increasing inflation (negative) and slowing economic growth (positive). In the longer term, it's not clear which influence will have a greater impact. Shorter term, there is a risk that the flight to safety trade will reverse as tensions ease, which could push mortgage rates back to higher levels.
Tuesday, February 22, 2011
Press Release - Keller Williams Realty Announces Numbers for 2010, Continued Growth During Real Estate Downturn
AUSTIN, TEXAS (February 21, 2011)–Keller Williams Realty reported today at its national convention that it ended 2010 with 79,315 associates, 701 market centers (offices), and associate profit share up 7.2 percent, with its agents receiving $34.6 million dollars back. Since the inception of the profit sharing program, the company has given back over $304 million in earnings to its agents. Additionally, CEO Mark Willis shared in his annual State of the Company address to more than 8,000 convention attendees that, since the real estate market’s sharp downturn in 2005, the company has grown 30 percent in agents, 40 percent in market centers, 21 percent in closed units and 11 percent in closed GCI.
“Keller Williams agents have outpaced the market in every way, through productivity and profit share. As a company, we are better off now than we were before the shift–and we have our associates to thank for that," said Willis.
The growth of the company can be attributed to the growth of its agents. Agent productivity continued to rise with units closed up 6 percent from December 2009 to 2010, while comparably, the NAR membership as a whole went down in closed units 4.8 percent. Overall the company’s associates saw productivity year on year percentage increases across the board in listings taken (up 13 percent), contracts closed volume (up 9 percent) and contracts closed units (6 percent).
“These numbers are the most important to us because they are proof that our agents are succeeding, making more money and growing their businesses. They are truly breaking through," Willis added.
Willis also did the honors of “turning on" the industry’s firstcomplete lead-to-close business solution, eEdge, during his address. This unique tool is now available to every Keller Williams associate at a fraction of the cost they would normally pay with functionality to build their leads, database and sales. Additionally, with the company-wide paperless transaction system, consumers can expect a faster, more seamless closing process.
“We want to thank our associates and their unwavering commitment to the growth of their businesses and leading the way in the industry in technology," said Mary Tennant, president and COO of Keller Williams Realty. “Keller Williams Realty wouldn’t be forging ahead with such an important product like eEdge without the support of our agents and their vote!"
In addition to reporting positive growth and technological advancement, the company received many accolades in 2010 including:
· Entrepreneur magazine, No. 1 ranked real estate franchise on the 31st Annual Franchise 500 list
· J.D. Power and Associates, highest in overall satisfaction ratings from home buyers among the largest full-service real estate firms for the third year in a row
· Inman News, Co-Founder and Chairman of the Board Gary Keller named one of the 100 Most Influential Leaders in Real Estate
· Training Magazine, highest ranking real estate franchise on the annual Training Top 125, #47 Overall
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About Keller Williams Realty, Inc.:
Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with 690 offices and almost 80,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. The company also provides specialized agents in luxury homes and commercial real estate properties. For more information, or to search for homes for sale visit Keller Williams Realty online at (www.kw.com).
Download printable version
For more information:
Amber Presley
512/327-3070
Email
Press Release - Keller Williams Realty Announces Numbers for 2010, Continued Growth During Real Estate Downturn
“Keller Williams agents have outpaced the market in every way, through productivity and profit share. As a company, we are better off now than we were before the shift–and we have our associates to thank for that," said Willis.
The growth of the company can be attributed to the growth of its agents. Agent productivity continued to rise with units closed up 6 percent from December 2009 to 2010, while comparably, the NAR membership as a whole went down in closed units 4.8 percent. Overall the company’s associates saw productivity year on year percentage increases across the board in listings taken (up 13 percent), contracts closed volume (up 9 percent) and contracts closed units (6 percent).
“These numbers are the most important to us because they are proof that our agents are succeeding, making more money and growing their businesses. They are truly breaking through," Willis added.
Willis also did the honors of “turning on" the industry’s firstcomplete lead-to-close business solution, eEdge, during his address. This unique tool is now available to every Keller Williams associate at a fraction of the cost they would normally pay with functionality to build their leads, database and sales. Additionally, with the company-wide paperless transaction system, consumers can expect a faster, more seamless closing process.
“We want to thank our associates and their unwavering commitment to the growth of their businesses and leading the way in the industry in technology," said Mary Tennant, president and COO of Keller Williams Realty. “Keller Williams Realty wouldn’t be forging ahead with such an important product like eEdge without the support of our agents and their vote!"
In addition to reporting positive growth and technological advancement, the company received many accolades in 2010 including:
· Entrepreneur magazine, No. 1 ranked real estate franchise on the 31st Annual Franchise 500 list
· J.D. Power and Associates, highest in overall satisfaction ratings from home buyers among the largest full-service real estate firms for the third year in a row
· Inman News, Co-Founder and Chairman of the Board Gary Keller named one of the 100 Most Influential Leaders in Real Estate
· Training Magazine, highest ranking real estate franchise on the annual Training Top 125, #47 Overall
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| Robin McCoy Realty |
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About Keller Williams Realty, Inc.:
Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with 690 offices and almost 80,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. The company also provides specialized agents in luxury homes and commercial real estate properties. For more information, or to search for homes for sale visit Keller Williams Realty online at (www.kw.com).
Download printable version
For more information:
Amber Presley
512/327-3070
Press Release - Keller Williams Realty Announces Numbers for 2010, Continued Growth During Real Estate Downturn
Thursday, February 17, 2011
New Listing! 2508 Partridge Place
My newest listing is in the Copperwood area of Carrollton. This is a wonderful 4 bedroom home with 2 living areas and formal dining room. Bay windows in both living areas and master bedroom. Very close to the GB Turnpike, Dallas North Tollway, 35E and 121. You really need to see this home!
2508 Partridge Pl
2508 Partridge Pl
Monday, February 14, 2011
Thursday, February 10, 2011
Dallas Housing Stability
Median price: $164,000
Foreclosure rate: 1.72%
As you know, Texas cities have been among the nation's most stable housing markets, boasting very affordable prices, continued new development and little price volatility. The economy has helped: The city's unemployment rate is about a point below the national average, as is the state's.
Another key to Dallas's housing market strength is its expanding population. The metro area added nearly 150,000 people between July 2008 and July 2009, more than any other place in the nation. That means development on the many open areas not far from town has continued. Home prices have fallen less than 10% since 2006, and the median price of $164,000 makes homeownership a reasonable expectation for most working people.
Wednesday, February 9, 2011
4.875% 30yr Fixed, 4.25% 15yr Fixed both with 1% Origination
Inflation concerns hit bond markets this week. Despite soothing comments from Fed Chief Bernanke, stronger than expected economic growth and higher commodity prices raised investor fears that future inflation may increase. As a result, mortgage rates moved higher during the week.
Global economic growth has been picking up, particularly in developing countries, which has increased the demand for commodities. Many developing countries already have had to deal with rising inflation, and readings in Europe have moved higher recently as well. In the US, Fed officials tend to focus on core inflation (which excludes food and energy), and these measures have been extremely low. According to Bernanke, slow wage growth and slack in the US economy will help keep core inflation in the US low for quite a while. This has allowed Fed officials to keep monetary policy loose to boost the economy. Investors, though, have grown more concerned about the risk that the Fed's stimulative policies will lead to significantly higher long-term inflation.
While the headline number fell short, this week's Employment report was considered to be positive overall, and mortgage rates moved higher after the news. Against a consensus forecast of 140K, the economy added just 36K jobs in January. The Unemployment Rate was expected to increase to 9.5% from 9.4% in December. Instead, it dropped to 9.0%, the lowest level since April 2009. Economists suggest that a number of factors were responsible for the divergence between the two sets of data. First, bad weather distorted the results in many regions. Second, the Unemployment Rate reflects both smaller companies and larger companies, while the payrolls data captures only larger companies. Finally, the January data tends to be the least reliable month of the year. After examining the details, investors placed more weight on the growth in jobs among the small businesses and self-employed, and they expect the payrolls data to "catch up" in future months.
Global economic growth has been picking up, particularly in developing countries, which has increased the demand for commodities. Many developing countries already have had to deal with rising inflation, and readings in Europe have moved higher recently as well. In the US, Fed officials tend to focus on core inflation (which excludes food and energy), and these measures have been extremely low. According to Bernanke, slow wage growth and slack in the US economy will help keep core inflation in the US low for quite a while. This has allowed Fed officials to keep monetary policy loose to boost the economy. Investors, though, have grown more concerned about the risk that the Fed's stimulative policies will lead to significantly higher long-term inflation.
While the headline number fell short, this week's Employment report was considered to be positive overall, and mortgage rates moved higher after the news. Against a consensus forecast of 140K, the economy added just 36K jobs in January. The Unemployment Rate was expected to increase to 9.5% from 9.4% in December. Instead, it dropped to 9.0%, the lowest level since April 2009. Economists suggest that a number of factors were responsible for the divergence between the two sets of data. First, bad weather distorted the results in many regions. Second, the Unemployment Rate reflects both smaller companies and larger companies, while the payrolls data captures only larger companies. Finally, the January data tends to be the least reliable month of the year. After examining the details, investors placed more weight on the growth in jobs among the small businesses and self-employed, and they expect the payrolls data to "catch up" in future months.
Christian Johnson--Shelter MortgageTuesday, February 8, 2011
This Month in Real Estate February 2011
While the national numbers say that home purchases go down in the winter months, this doesn't mean that YOUR home won't sell in February and March. Many sellers wait until spring flooding the market with competition for YOUR home. List now and avoid the rush.
Sunday, February 6, 2011
289 Aqua Marine Dr
Here is my newest listing. It is in Oak Point, TX which is a growing community tucked in between Denton and Little Elm. As you drive in you feel the expanse of land and nature giving the sensation of being out in the country. But you are only 15 minutes from the University of North Texas in Denton, 20 minutes from Lewisville, and 30 minutes from Plano.
This house has 4 bedrooms, 3 baths, a study, formal dining, pool, koi pond, deck w/spa, balcony off the master bedroom...oh and it sits on an acre of mature trees + a creek. Absolutely stunning!
289 Aqua Marine Dr
This house has 4 bedrooms, 3 baths, a study, formal dining, pool, koi pond, deck w/spa, balcony off the master bedroom...oh and it sits on an acre of mature trees + a creek. Absolutely stunning!
289 Aqua Marine Dr
Tuesday, February 1, 2011
Featured Property of the Week--Lakewood
A beautiful home in desirable Lakewood. Hop, skip and a jump to White Rock Lake and 2 city parks. 4 Bedrooms, Pool, Spa...
Guide to Lakewood
Guide to Lakewood
Weekly Mortgage Update: 30yr Fixed 4.75%, and 15yr Fixed 4.125% both with 1% Origination Fee
WOW, Look at that 15yr note @ 4.125%!!!!!
A week packed with potentially big market moving economic events turned out to be relatively quiet for mortgage rates. There were no major surprises from the Fed meeting, and the economic data was mixed compared to expectations. Strong demand for this week's Treasury auctions offset concerns about higher food and energy prices, leaving mortgage rates nearly unchanged from last week.
The biggest economic report released during the week was for Gross Domestic Product (GDP), the broadest measure of economic growth. Fourth quarter 2010 GDP increased 3.2%, up from a level of 2.6% in the third quarter. For all of last year, the economy grew 2.9%, the highest level since 2005. Notably, government spending declined during the fourth quarter, while consumer spending picked up significantly. Government stimulus programs have boosted the economy during the past couple of years, but in the long-term it's the performance of the private sector that will largely determine the strength of the economy. Economists expect consumer spending and business investment to remain healthy this year, and the consensus forecast for 2011 is for GDP growth of 3.2%. This level of growth would be consistent with a gradual decline in the unemployment rate.
The housing sector data released during the work was encouraging. December New Home Sales jumped 18% to the highest level in eight months (Largest since the Tax Credit Incentive). The inventory of new homes on the market fell to a 6.9-month supply (A BALANCED market). December Pending Home Sales, a leading indicator of housing market performance, rose 2% from November, the fifth increase in the last six months. According to the National Association of Realtors (NAR), "modest gains" in the labor market have helped buyers during a period of favorable home affordability levels.
The biggest economic event next week will be the important Employment report on Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month.
A week packed with potentially big market moving economic events turned out to be relatively quiet for mortgage rates. There were no major surprises from the Fed meeting, and the economic data was mixed compared to expectations. Strong demand for this week's Treasury auctions offset concerns about higher food and energy prices, leaving mortgage rates nearly unchanged from last week.
The biggest economic report released during the week was for Gross Domestic Product (GDP), the broadest measure of economic growth. Fourth quarter 2010 GDP increased 3.2%, up from a level of 2.6% in the third quarter. For all of last year, the economy grew 2.9%, the highest level since 2005. Notably, government spending declined during the fourth quarter, while consumer spending picked up significantly. Government stimulus programs have boosted the economy during the past couple of years, but in the long-term it's the performance of the private sector that will largely determine the strength of the economy. Economists expect consumer spending and business investment to remain healthy this year, and the consensus forecast for 2011 is for GDP growth of 3.2%. This level of growth would be consistent with a gradual decline in the unemployment rate.
The housing sector data released during the work was encouraging. December New Home Sales jumped 18% to the highest level in eight months (Largest since the Tax Credit Incentive). The inventory of new homes on the market fell to a 6.9-month supply (A BALANCED market). December Pending Home Sales, a leading indicator of housing market performance, rose 2% from November, the fifth increase in the last six months. According to the National Association of Realtors (NAR), "modest gains" in the labor market have helped buyers during a period of favorable home affordability levels.
The biggest economic event next week will be the important Employment report on Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month.
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