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VARbuzz: Builder survey: Renters really want to own

Renters Really Prefer Owning, Builder Survey Says,” says the Wall Street Journal. I grabbed that immediately — looked like a good, positive story.

Unfortunately, the survey the story is based on doesn’t really say that.

Sayeth the Journal:

A survey from PulteGroup — one of the nation’s largest home builders — has found a surprising result: Many renters want to buy homes.

But PulteGroup actually said:

VARbuzz: REO flood a-comin’? Doesn’t look that way

As we told you the other day, all the hubbub about shadow inventory — a flood of foreclosures and distressed sales coming down the pike — looks to have been a tempest in a teapot and much ado about nothing. A mountain out of a molehill, if you will.

The Wall Street Journal has a piece, “That New Foreclosure Tsunami? Still Waiting” in which it points out that the fears seem unjustified:

VARbuzz: Good foreclosure news from CoreLogic

In its March National Foreclosure Report, CoreLogic found that foreclosures dropped 18.8% from March 2011. Even better, foreclosures in the first quarter were down 14.7% from the first quarter of 2011.

“Compared to a year ago, the number of completed foreclosures has slowed,” said Anand Nallathambi, chief executive officer of CoreLogic. “Since the foreclosure inventory is also coming down, this suggests that loan modifications, short sales, deeds-in-lieu are increasingly being used as an alternative to foreclosures to clear distressed assets in our communities.”

Click here to read the details.

VARbuzz: Real estate’s a good investment, but not as good as gold — so say you all

bling! “Gold gold gold gold gold gold gold.” –Dwarf mining song, Terry Pratchett’s Discworld series.i

A Gallup poll found that 34 percent of Americans consider gold the best long-term investment. Real estate and stocks came in as number 2 and 3, with men preferring real estate and women preferring stocks.

Why gold? Historical reasons.

Q1 2012 home sales report is now available

The First Quarter 2012 Virginia Home Sales Report has been released and brings good news for the Commonwealth! Several long-term trends indicate that Virginia’s housing market is continuing to stabilize.

As shown above, the pace of home sales in the first quarter of 2012 marked an improvement over both the first quarter of 2011 and 2010.

VRLTA Update

Date: 
April 25, 2012 (All day)
May 1, 2012 (All day)
May 7, 2012 (All day)
Location: 
REALTORS® Association of Prince William®, Virginia Peninsula Association of REALTORS®, Richmond Association of REALTORS®

VRLTA Update with Chip Dicks (Virginia Residential Landlord Tenant Act)

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Agency Center

The Virginia Association of Realtors® worked to help develop legislation to enhance the agency relationship disclosure requirements between licensees and those they represent. This means there are a number of changes to the existing agency laws in Virginia, and VAR wants to make sure that all members are up to speed on what they need to know to serve their clients and customers and stay in compliance with Virginia laws.