(CNBC) — U.S. stocks

To “Mad Money” host Jim Cramer, though, there are a few bright spots in the otherwise blighted economy.

“I want to point out the most positive sector right now because when the market’s this oversold and you have this level of negativity, the possibility of owning stocks with good fundamentals just becomes too great to pass up,” Cramer said. “There are too many companies doing well to just toss up our hands and hide in cash, even if Europe’s misery keeps damaging the global economy.”

The real leadership in today’s market is housing, Cramer said, noting most housing-related stocks are pushing higher.

Read full article from CNBC

The index identifies metropolitan areas that have shown improvement from their respective troughs in housing permits, employment and house prices for at least six consecutive months. While 83 metros held onto their previous places on the IMI and 17 new ones were added to the list in May, 18 metros dropped from the list, for a net loss of one. Metros newly added to the list in May include such geographically diverse places as Phoenix, Ariz.; Bowling Green, Ky.; Bend, Ore.; and Lubbock, Texas.

“The fact that there are 100 markets in 34 states and the District of Columbia represented on the improving list illustrates that all housing markets are local, and that the national headlines often don’t apply to what’s happening in a specific metropolitan area,” said NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla. “In places where employment is firming up along with demand for new homes, the main factors weighing down the housing market continue to be access to credit (for both builders and buyers) and the difficulty of obtaining accurate appraisals on new construction.”

“The overall number of markets on the IMI continued to plateau this month, with more than a quarter of all U.S. metros still showing signs of improvement,” said NAHB Chief Economist David Crowe. “Many of these are relatively small markets in terms of their population and building volume, which is why their improvement is barely registering on the national scale as of yet. Moreover, we are seeing some shifting of markets on and off the list primarily due to small seasonal house price changes in areas that have had flat, stable prices rather than a boom-and-bust cycle.” 
“The fact that the number of improving metros continued to hold its own with 100 entries in May shows that there are many places across the country where confidence and consumers are returning to the housing market,” observed Kurt Pfotenhauer, vice chairman of First American Title Insurance Company.

Read article from NAHB

In 2010, 51% of all home purchases were made by FTHB.  In 2011, it was 37%.  The 2010 numbers are skewed because of the First-Time Home Buyer Credit offering.

Overall, the numbers have significantly changed AGAIN.  Since the report provides stats on first-time buyers, repeat buyers, FSBO, and investors, this article is strictly about the first-time home buying segment, how the stats compared from 2010 to 2011, and a little commentary from me on why the information is critical in your business planning efforts.

First-time home buyers made up 37% of all homes purchased…

Tip:  Still, over one-third of all homebuyers are buying for the first time.  In this article, you’ll also learn that 92% of FTHB researched the Internet (websites, social media, blogs) before deciding which home to buy and which real estate agent to use.  I suggest that you align your marketing with the way FTHB find information – but more on that later.

Living arrangements prior to buying their first home…

Prior to buying their first home, 77% of FTHB rented (i.e., an apartment or a home).  This is up 2% from 2010.  19% lived in a home—a decrease of 2%.  Broken down by marital status:

Tip:  Over three-quarters of first-time home buyers are living in apartment complexes, and it is still the number one way to market to them even before they start the home search process.  You can purchase apartment complex mailing lists at www.apartmenttoolkit.com .

Marital status of FTHB…

The big change is the increase of married couples buying their first home.

Tip:  If you are holding home-buying seminars, consider segmenting them into “Couples Only” or Singles-Only” First-Time Home Buying seminars.  You may want to segment the “singles-only” by “divorced FTHB’s.”  Each segment has its own set of home-buying and loan-approval issues. 

Median age of FTHB…

This is about the same as last year.

Average income of FTHB…

Big change here. A single male’s income significantly decreased while a single female’s income increased slightly.

Purchase price range…

No big changes here over last year, however the lower-priced homes have had a slight increase.  This is probably due to the fact that the home values have been decreasing.

TIP:  While some areas are more affordable than others, 48% of FTHB purchased a home at $150,000 or less.  This is a great reason to meet with your real estate agents.  Ask them to review all their listings and see if they can negotiate seller incentives or special financing options like FHA and USDA (if the property qualifies). 

Moving distance from current residence…

The distance from where a FTHB is living now to their new home is 12 miles.  That has not changed over the last three years.  It’s the same if living in an apartment or with parents/family.

TIP:  If you are marketing to apartment complexes, consider the location of the complex in relation to the housing price ranges for FTHB.  Check to see if the subdivisions within a 12-mile radius have housing prices at $150K or below.  If not, you may not want to market to those complexes.

Information source prior to buying a home…

The typical buyer who used the Internet is 42 years old (up from 37 yrs. In 2010) with an average income of $83,700.  The typical buyer who did NOT use the Internet is 60 years old (up from 57 yrs. in 2010) with an average income of $60,300.  Those using the internet took twice the amount of time to find a home versus those that did not use the web.  Interesting?????

2011       Info Resource                   

92%        Searched for home on web prior to buying

88%        Searched for Real Estate Agent online

53%        Yard signs

40%        Open houses

28%        Newspaper ads

17%        Homes magazines

 5%         TV/radio

TIP:  If you are spending money advertising in your local homes’ magazines, or if you are paying to publish rates in the newspaper, you may want to reallocate your money to online marketing instead. 

Financing the home purchase…

It’s the same as last year—95% of home purchases were FIXED RATE Mortgages.

TIP: When it comes to fixed rate mortgages, be different than everyone else and instead of offering a 30-year term, give them an alternative 25-year fixed rate option.  The payment is a little higher per month, but the interest savings is significant ($30K for $100,000) and they build up equity quicker.  Think about this—if only LO’s had offered more 25-year fixed rate mortgages in 2005-2006, there would be a lot less people upside down on their homes.

Source of down payment…

The percentages have increased over the last three years, indicating that people are buckling down and saving more money. 

2009 – 61% from own savings – 22% Gift Funds

2010 – 74% from own savings – 26% Gift Funds

2011 – 79% from own savings – 26% Gift Funds

TIP:  Fannie, Freddie, FHA and VA have their own “gift fund rules.”  For example, there are five different ways funds can be gifted for FHA loans.  They are complicated and just one little error will hold up your closing.  Mortgage rule updates can be found at www.MortgageCurrentcy.com

FTHB tenure in resale of home…

TIP:  It used to be that the average time people plan to sell their home and buy another one was 7 years.  Looks like the two new timeframes are from 4 to 5 years, and from 8 to 10 years.  Plan to stay in touch with past clients for the long haul.  That’s where a database, along with a killer email marketing system, will be a key component of your business.

FINAL MARKETING TIP:  Consider meeting with your real estate agents.  I’d bet you that they have never seen this report, let alone broken it down by the first-time homebuyer category. 

Use these stats to help you create a game plan between the two of you—based on the tips I’ve provided after each statistic. 

Karen Deis, President, ApartmentTookKit.com, providing apartment address mailing lists and marketing systems for attracting leads from apartment complexes.  Why market to apartment complexes?  Because the address never changes, but the people who live there do, so you are constantly marketing to new people. 

From California to Florida, many buyers are increasingly competing for the same house. Unlike the bidding wars that typified the go-go years and largely reflected surging sales, today’s are a result of supply shortages.

“It’s a little surprising because we thought bidding wars were done with,” said Andy Aley, who is looking to buy his first home in Seattle’s Beacon Hill neighborhood. The 31-year-old attorney was outbid this year when he offered up to $23,000 above the $357,000 listing price and agreed to waive inspections and other closing conditions.

Competitive bidding in the current environment isn’t producing huge price increases or leaving sellers with hefty profits, as occurred during the housing boom. Still, the bidding wars caused by tight inventory provide the latest evidence that housing demand is starting to pick up after a six-year-long slump.

An index that measures the number of contracts signed to purchase previously owned homes rose in March to its highest level in nearly two years, up 12.8% from a year ago and 4.1% from February, the National Association of Realtors reported on Thursday.

“We very much believe we’ve hit bottom,” said Ivy Zelman, chief executive of a research firm, who was among the first to warn of a downturn seven years ago. Earlier this week, she raised her home-price forecast for the year, calling for a 1% annual gain, up from a 1% decline.

Read Full Article from WSJ

HOUSTON, Texas (April 26, 2012)—Two of the region’s top energy bankers have joined the Hancock Holding Company (Nasdaq: HBHC) financial services organization, which includes century-old Gulf South institutions Whitney Bank and Hancock Bank.

Senior Vice President and Managing Director of the Energy Division Donovan Broussard and Senior Vice President and Senior Energy Banker Liana Tchernysheva together bring more than 32 years of experience in the energy banking sector to the company. Leading the Whitney Bank and Hancock Bank Energy Division, both bankers are based at Whitney Bank in Houston and are residents of the city’s greater metropolitan area.

Hancock Holding Company and its banks operate throughout a combined business footprint comprising the five southeastern states that encircle the Gulf of Mexico.

“Oil and gas exploration and production is one of the most important economic sectors in the United States and around the globe and continues to be a significant segment of our business—particularly in the Texas, Louisiana, Mississippi, Alabama, and Florida markets we serve,” said Carl Chaney, president and CEO of Hancock Holding Company. “We have a banking presence in every major U.S. port city on the Gulf of Mexico. Adding these two outstanding professionals and strategically locating this team in Houston further strengthens the company’s capabilities in the energy banking arena. We see great opportunity as we grow this area of our business and offer excellent service to new and existing clients.”

Broussard began his career in New Orleans as a Whitney Bank management trainee and now has more than 17 years’ experience in the banking industry, with an emphasis in management and energy lending. He comes to Whitney Bank in Houston from NATIXIS, where, since 2001, he led long-term planning, strategy, and new product implementation and developed client relationships for the company’s oil and gas exploration and production group. During his tenure with the company, he was a top industry producer. Broussard also worked for The Bank of Nova Scotia and Dai-Ichi Kangyo in energy related banking fields. All of Broussard’s positions were based in the Houston market. He holds a bachelor’s degree in business administration from the University of Louisiana at Lafayette.

Tchernysheva, a 15-year veteran of banking, also joins Whitney and Hancock from NATIXIS, where, as a managing director of the oil and gas exploration and production group, she created and built the bank’s portfolio as a participant and lead originator. Additionally, she established client relationships and performed analysis, underwriting, and portfolio management. Tchernysheva previously worked in several positions at BBVA Compass (formerly Compass Bank) and holds a finance degree from the University of South Alabama.

“As Whitney Bank and Hancock Bank—two of the Gulf South’s largest, oldest, and strongest financial institutions—move forward together, we are expanding the depth and breadth of expertise that have always distinguished our banking teams in delivering comprehensive products and services to people and businesses in the communities we call home,” said Chaney. “This commitment to strength, stability, and service represents the traditions of banking excellence that have been part of Whitney and Hancock for more than 100 years.”

According to a 2010 American Petroleum Institute study, the oil and gas industry employed roughly 1.25 million people in key production states and projected growing economic impact on the Gulf of Mexico region in the coming years. With increased production, the oil and gas industry could create $33 billion in government revenue alone and 290,000 new jobs by 2030.

“The Whitney Bank and Hancock Bank Energy Division is committed to helping create commerce and opportunity across this dynamic region,” added Chaney.

The Appraisal Institute reacted to the Financial Crimes Enforcement Network’s March 2012 Mortgage Loan Fraud Update, which found that depository institutions submitted 19,934 Suspicious Activity Reports in the third quarter of 2011 pertaining specifically to mortgage loan fraud, a 20 percent increase over the previous year. The total number of all SARs (including loan workouts, debt elimination attempts and other activity) filed in the third quarter of 2011 increased 14 percent from the previous year to 200,871.

“These ongoing reports of fraud in the housing industry reinforce the need for consumers and real estate professionals to rely on individuals with not only the right experience, but the reputation and ethics to help guide them through today’s uncertain marketplace,” said Appraisal Institute President Sara W. Stephens, MAI.

FinCen noted that California and Florida had the most mortgage loan fraud, followed by New York and Illinois. Among the fraudulent activities that FinCen cited was a suspicious activity report related to a false home inspection indicating allegedly defective drywall made in China; another report accused several parties of colluding in a lease-to-buy foreclosure bailout scam, including a recently licensed home inspector, a drywall contractor and a buyer and seller. FinCen made no mention of appraisers in their report. FinCen is a bureau of the U.S. Department of the Treasury. Its mission is to enhance the integrity of financial systems by facilitating the detection and deterrence of financial crime.

Fannie Mae reported in its March 2012 Mortgage Fraud Monthly Statistics Update that in 12 percent of the cases, a specific material fact about the property and/or the comparable sales was misrepresented.

The Appraisal Institute’s own research, based on an analysis of data found in the Appraisal Subcommittee National Appraiser Registry, reported on U.S. appraiser disciplinary actions from the year 2000 through year-end 2011. Individual states initiate disciplinary actions and report them to the Appraisal Subcommittee. The Appraisal Subcommittee of the Federal Financial Institutions Examination Council, created by Congress in 1989, oversees the real estate appraisal process as it relates to federally related transactions.

• For the most recent five-year period (2007-2011), there were 1,766 disciplinary actions.
• There were 2.6 times more disciplinary actions in 2007-2011 than there were in 2002-2006.
• For 2011, the overall number of disciplinary actions decreased 6.8 percent from the prior year.

In 2000-2011, 7.9 times more nonmember appraisers than Appraisal Institute members received a disciplinary action. Based on the most recent five-year averages, the Appraisal Institute represents 26 percent of the entire U.S. appraiser population, but only 12.1 percent of all disciplinary actions.

To see the Financial Crimes Enforcement Network’s March 2012 Mortgage Loan Fraud Update, click here.

Click here to see Fannie Mae’s March 2012 Mortgage Fraud Monthly Statistics Update.

TALEGA REAL ESTATE INFO

San Clemente Real Estate | Helping you find a home in Talega

Search for Talega Real Estate with Michael-Edward Cruz

My name is Michael-Edward Cruz 01758933, and I work with a vast network of agents to help you find a home in the San Clemente neighborhood of Talega. From San Clemente to Del Mar, I specialize in beautiful Coastal and Master Planned Communities. Talega is one of those master planned communities.

I Work with Buyers looking for Talega Real Estate.

ABOUT TALEGA

(Source Wikipedia)

Talega is the name of a tract housing project in the city of San Clemente in Orange County, California. It began construction in 1999.

It is located near the Northrop Grumman Capistrano Test Site (formerly TRW), active today and where the Lunar Module Descent Engine (LMDE) engines were developed in the 1960s for the moon landing. It is about 8 miles (13 km) from the San Onofre nuclear power plant and east of the Marine Corps Base Camp Pendleton.

There is an 18 hole golf course, 2 elementary schools, and a middle school. It is served by the Capistrano Unified School District, and was recently annexed to San Clemente from the unincorporated territories it existed in upon the beginning of construction.

Talega is home to 9,000 residents and, when completed, will have a total of 3,500 residential units. Most are tract houses, with apartments, condos and a low-income project that share the same master pools and facilities. There are no full-custom homes. The community has a predominant Spanish/Tuscan architecture, which is carried out in almost every home, and all the public spaces and buildings within the community.

Talega is a master planned community in San Clemente. It consists of 19 neighborhoods which are mostly single family homes, some condominiums and a few apartments. The Talega Specific Plan area encompasses a total of 3,510 acres (14.2 km2) in the Northeastern portion of the City. The major streets within the Talega Specific Plan are Avenida Pico, Camino La Pedriza, Avenida Vista Hermosa and Avenida Talega.

Talega is located about 3 miles (4.8 km) from the coast and 2 miles (3.2 km) east of the 5 freeway, between the streets of Avenida Pico and Camino De Los Mares. Some of the homes offer views of the ocean, their local golf course, mountains and it’s parks. There is a swim and Athletic Club also.

Parks

City Maintained Parks:

• Talega Park
• Liberty Park
• Tierra Grande Park

Talega HOA Maintained Parks:

• Altea Park
• Pacifica Summit Park
• Portofino Park
• Sansol/Mirador Park
• Lucia Park

Communities

• Alora (Single Family)
• Alassio by Standard Pacific Homes (Townhomes)
• Alta by Standard Pacific Homes (Single Family)
• Amalfi by Standard Pacific Homes
• Bella Vista by Manning Homes (Single Family)
• Careyes by Brookfield Homes (Single Family-Gated)
• Carillon by Standard Pacific Homes (Single Family)
• Cantabria (Single Family)
• Caprizi (Single Family)
• Catania by Standard Pacific Homes (Single Family-Gated)
• Cazadero by Shea Homes (Single Family)
• Escala by Standard Pacific Homes (Single Family)
• Farralon Ridge (Single Family)
• Lucia by Laing Luxury Homes (Single Family)
• Mirador by William Lyon Homes (Single Family)
• Miraleste (Single Family)
• Monterey by Standard Pacific Homes (Single Family)
• Pacifica by Standard Pacific Homes (Single Family)
• Portomarin (Single Family)
• Ravenna (Single Family)
• Sabella by Pulte Homes (Single Family)
• San Lucar by Brookfield Homes (Single Family)
• Sansol by Standard Pacific Homes (Single Family)
• Santalana by Standard Pacific Homes (Townhomes)
• Seaside by Shea Homes (Single Family)
• Solana (Single Family)
• Stella Mare by Standard Pacific Homes (Single Family)
• Verano by Lennar Homes (Townhomes)
• Vittoria by Standard Pacific Homes (Single Family-Gated)
• Vizcaya (Single Family)

There is also an area called The Talega Gallery that is a 55+ Community consisting of the following communities:

• Seagarden
• Sandbridge
• Waterleaf
• Wavecrest

Even though Talega sits within the city limits of San Clemente, some long-time residents do not consider Talega to be a part of the San Clemente `Spanish Village by the Sea’ atmosphere. In December 2007 the Southern California Multiple Listing Service moved Talega out of San Clemente and made it its own city. This move by MLS provoked such an uproar among San Clemente real estate agents that the MLS eventually put Talega listings back into San Clemente.

Due to its location tucked into the hills, Talega faces several transportation issues. As of March 2009, there are only two main roads out of the community. There is a proposed extension of La Pata that would bridge the 1.5 mile gap between Talega and the point where the road currently ends in San Juan Capistrano. The current Orange County Master Plan places the location of this extension very close to homes in Talega which is a concern to adjacent homeowners. A suggestion to relocate the route to a path halfway between Talega and the adjacent Forester Ranch community would involve relocating power lines and would be the most expensive option. However, the county does not currently have the fund to complete this extension and it will be many years before work is completed there.

In December 2008, the US Commerce Department suggested relocating the controversial 241 Toll Road extension along a path that would route this major highway directly into Talega, eliminating 176 homes and dumping the freeway onto city streets. The transportation authority (TCA) had not previously considered this path and is not likely to pursue that option.

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