Tag Archives: Processing

A recent survey by Zillow Digs found 60 percent of respondents have some kind of plan in the works for a home improvement project this summer. The median budget for homeowners who are planning projects was $1,200, though owners with children and those 54 years of age and younger plan to spend a bit more, with a median of $1,500. To get ideas for projects, online sources were the most frequently utilized, with 37 percent turning to the web for inspiration.

Auction.com received recognition at the 11th Annual American Business Awards for its advances in the way buyers, sellers, and agents transact residential real estate.

GMH Mortgage Services, a nationally recognized mortgage banker headquartered in Newtown Square, Pennsylvania, announced three new additions to its management team.

Fitch Ratings noted that while a deficit in workers may not lead to "disastrous national numbers for housing," it may put a damper on the recovery.

Lender Processing Services' (LPS) Home Price Index (HPI) continued to climb in April, the company revealed. According to LPS' monthly report, the index rose 1.5 percent from March to a value of $217,000. Year-over-year, the index increased 8.1 percent from $201,000. Year-to-date, prices were up 4.5 percent as of April 30. The states reporting the biggest HPI increases were California (2.6 percent), Nevada (2.3 percent), Oregon (2.1 percent), Washington (2.0 percent), and Illinois (1.9 percent, the same as Michigan).

Total Mortgage Services, a leading mortgage lender headquartered in Milford, Connecticut, announced the expansion of its mortgage lending services with the opening of a new branch in Fairfield.

An increase in prices itself does not signal a bubble. An unsustainable increase, not supported by other data, however, would.

In Seattle, Redfin announced the hiring of Chris Nielsen as CFO. Nielsen was most recently CFO and COO of Zappos.com, a destination in online apparel and footwear sales, where he oversaw the company's financial and fulfillment operations. His career has also seen him leading successful retail business segments at Amazon.

The Conference Board's Leading Economic Index (LEI) for the United States rose 0.1 percent in May to 95.2, a disappointing movement compared to April's 0.8 percent increase. However, experts at the Conference Board note the index's stability is a good sign. "Despite month-to-month volatility, the LEI's six-month growth rate remains steady, suggesting that conditions in the economy remain resilient," said economist Ataman Ozyildirim. The Coincident Economic Index rose 0.2 percent, while the Lagging Economic Index increased 0.3 percent.

Zillow expects prices will continue their upward trajectory in the short-run with a 4.1 percent increase over the following 12 months. However, as inventory increases and interest rates rise, "some demand may also ebb," said Stan Humphries, Zillow's chief economist. These predictions prompted the economist to advise, "Enjoy it while it lasts, because the housing market will undoubtedly look very different a few years down the road from how it appears now."