As of 12:00 pm Friday, March 29th,  there are 458 active residential foreclosure listings throughout Brevard County, FL.

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Regional Spotlight—Single-family home sales in Connecticut rose 14 percent to 1,519 in January, posting the highest volume for the month since 2008, according to The Warren Group.

Sales of single-family homes in Connecticut increased for the 13th consecutive month in January. This marks the highest monthly sales volume for the month since January 2008, when there were 1,653 sales.

“We ended 2012 on a pretty positive note, and this is carrying into January,” says Timothy M. Warren Jr., CEO of The Warren Group. “Recent pending sales data are a hopeful sign for a strong spring market. And given low mortgage rates and steady prices, there are positive signs that 2013 will be a second year of recovery.”

The median price for Connecticut single-family homes sold in January was $215,000, a 2.4 percent increase from $210,000 in January 2012. This is the fourth consecutive month that prices rose in the Nutmeg State.

“Low inventory is slowly driving up prices. This should in turn give sellers more confidence to put their homes on the market,” Warren says.

A total of 442 Connecticut condominiums were sold in January, a near 22 percent increase from January 2012 when 363 sales were recorded.

Condo median prices also increased slightly in January. The median price rose more than 3 percent to $160,000, up from $155,000 in January 2012. The median price of a Connecticut condo has increased in six out of the last seven months.

For more information, visit www.thewarrengroup.com.

As of 12:00 pm Friday, March 15th, 2013, there are 115 foreclosure homes for sale in Palm Bay, FL, from $27,810. Click here to view them all and get a printable list.

Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates largely holding steady from the previous week, remaining near their 65-year record lows, and continuing to provide support for the housing recovery.

Results showed that the 30-year fixed-rate mortgage (FRM) averaged 3.52 percent with an average 0.7 point for the week ending March 7, 2013, up from last week when it averaged 3.51 percent. Last year at this time, the 30-year FRM averaged 3.88 percent.

Additionaly, the 15-year FRM this week averaged 2.76 percent with an average 0.7 point, the same as last week. A year ago at this time, the 15-year FRM averaged 3.13 percent.

The survey shows that the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.63 percent this week with an average 0.5 point, up from last week when it averaged 2.61 percent. A year ago, the 5-year ARM averaged 2.81 percent.

The 1-year Treasury-indexed ARM averaged 2.63 percent this week with an average 0.3 point, down from last week when it averaged 2.64 percent. At this time last year, the 1-year ARM averaged 2.73 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

“With gross domestic product growing only 0.1 percent in the fourth quarter of 2012, inflation remains at bay and consequently mortgage rates low,” says Frank Nothaft, vice president and chief economist, Freddie Mac.. In fact, the price index of personal consumption expenditures rose only 0.1 percent in January which was below the market consensus forecast. Moreover, these low mortgage rates are helping to revive the housing market. For instance the CoreLogic® home price index rose 9.7 percent between January 2012 and 2013, marking the largest annual increase since April 2006.”

For more information, visit www.FreddieMac.com.

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Consumer attitudes toward the economy and housing continue to diverge this winter, according to Fannie Mae’s February 2013 National Housing Survey results. On the one hand, consumers continue to express strong positive attitudes toward housing. On the other hand, sentiment about the economy and household finances is stalled. Average 12-month home price expectations and the share of consumers who believe home prices will go up over the next year both rose to record highs, and the percentage of Americans who say mortgage rates will rise reached its highest level since August 2011. At same time, Americans’ views on their personal financial situation, household income, and the direction of the economy fell or remained flat.

“Despite fiscal headwinds and political uncertainty, consumer sentiment toward housing is robust and continues to gather strength,” says Doug Duncan, senior vice president and chief economist at Fannie Mae. “We expect home prices to firm further amid a durable housing recovery, gradually reducing the population of underwater borrowers and helping to boost the share of consumers who say that now is a good time to sell.”

“Since reaching its trough last September, the share of consumers expecting mortgage rates to rise has trended up,” continues Duncan. “However, despite historically low mortgage rates, nearly half of borrowers have never refinanced their mortgage. Combined with the scheduled year-end HARP deadline, rising rate expectations should prompt some borrowers to refinance soon to take advantage of more favorable mortgage terms and add to their disposable income, helping to offset ongoing fiscal drag.”

Survey Highlights

Homeownership and Renting
• The average 12-month home price change expectation increased 0.5 percent over last month to 2.9 percent, the highest level since the survey’s inception.
• At 48 percent, the share who believe home prices will go up in the next 12 months also reached a survey high, while the share who believe home prices will go down held steady at the survey low of 10 percent.
• The percentage who think mortgage rates will go up increased by 4 percentage points to 45 percent, the highest level since August 2011, while those who think they will go down held steady at 7 percent.
• Twenty-five percent of respondents say it is a good time to sell a house, the highest level since the survey’s inception in June 2010.
• At 3.9 percent, the average 12-month rental price change expectation increased 0.2 percent over January.
• Fifty percent of those surveyed say home prices will go up in the next 12 months, holding steady from January at the highest level since the survey’s inception.
• The share of respondents who said they would buy if they were going to move increased by 2 percentage points to 67 percent.

The Economy and Household Finances
• At 38 percent, the share of respondents who say the economy is on the right track has held steady over the past three months.
• The percentage who expect their personal financial situation to get better over the next 12 months fell by 2 percentage points to 41 percent.
• Twenty-one percent of respondents say their household income is significantly higher than it was 12 months ago, a 2 percentage point decrease from last month.
• Thirty-one percent report significantly higher household expenses compared to 12 months ago, a 7 percentage point decrease and the lowest level since June 2010.

For more information, visit www.fanniemae.com.

“Your world has changed more in the last 3 years than perhaps the last 30.

Reaching hundreds of thousands of people is easier than ever before,

but to connect with and influence your audience has never been more difficult.”

- John Featherston, CEO RISMedia

Home sales are slowly climbing back, thanks to investor demand, improving consumer confidence in housing, and the surprising return of former homeowners who once walked away from their commitments.

These so-called, “strategic defaulters,” some of them investors and some owner-occupants, are coming back to the market, despite damaged credit, and apparently the market is welcoming them back.

A new survey of past clients by YouWalkAway.com, a website that assists borrowers in the legal pitfalls of strategic default, found that nearly 80 percent expressed a desire to buy a home again within the next twelve months. It also cites data by Moody’s analytics, showing that the number of eligible home buyers who have had a previous foreclosure will be 1.5 million by the first quarter of 2014.

Read more: They bailed on their homes and now they want back in – Yahoo! Homes

The Wall Street Journal, February 21, 2013:

The National Association of Realtors said on Thursday what home buyers in many parts of the United States have known for months: it’s becoming a seller’s market.

The number of homes listed for sale in January fell by 4.9%, leaving 1.74 million properties on the market. That’s the lowest since December of 1999, when there were 1.71 million homes on the market. By contrast, there were 2.91 million homes on the market two years ago at this time.

Read more here: Housing: It’s Becoming a Seller’s Market – Developments – WSJ.