More Americans Confident About Buying

Source: Jason P Miller, RealtyTimes.com

Last week, Fannie Mae released their January 2014 National Housing Survey results. Two categories reported all-time survey highs. 

• 52% of respondents thought it would be easy for them to get a home mortgage today. 
• 70% of respondents said they would buy if they were going to move.

Doug Duncan, senior vice president and chief economist at Fannie Mae explained what this may mean to the real estate market moving forward:

"A majority of consumers now believe that it is getting easier to get a mortgage. For the first time in the National Housing Survey's thee-and-a-half-year history, the share of respondents who said it is easy to get a mortgage surpassed the 50-percent mark. The gradual upward trend in this indicator during the last few months bodes well for the housing recovery and may be contributing to this month's increase in consumers' intention to buy rather than rent their next home. The dip in overall home price expectations, though notable, is consistent with our view of moderating home price gains this year from a robust pace last year, while positive trends in perceptions about the economy and personal finances over the next year support out view of stronger growth in the broader economy."

With home prices projected to increase in 2014 (albeit at a slower pace than they did in 2013) and with mortgage rates projected to increase, it is good news that consumers are becoming more confident in their ability to buy a home if they so desire. 

Low inventory and increasing demand to buy homes makes this a perfect market for you to sell your home. If you are interested in selling your home, Call me, Mynor Herrera, today for expert help buying or selling in the DC, MD, & VA areas!  I also specialize in Bethesda and Chevy Chase, as well as the subdivisions of Rosemary Hills, Rock Creek Forest, East Bethesda and Whitehall Condominium. 

Fannie Mae Posts Record Profit; Paid Taxpayers $11.6 Billion In 2012

In another sign that the housing market is not only on the mend but gaining momentum, Fannie Mae announced that it earned "a record $7.6 billion in fourth-quarter 2012 and $17.2 billion for the year," NPR reported earlier today. This is quite a turn around from September 2008 when the federal government bailed out the mortgage giant to the tune of $116 billion. Fannie Mae has paid back $36 billion of the $116 billion it received in the bailout, according to The Christian Science Monitor. The profit in 2012 -- the highest profit ever -- is a clear signal of a housing-market recovery that is raising hopes that taxpayers will recover billions of dollars in bailout funds from the company, the Monitor reports.
 

As always, please contact me, Mynor Herrera, for expert advice on everything real estate. I am licensed in Washington, D.C., Maryland, and Virginia. And I specialize in Bethesda and Chevy Chase, as well as the subdivisions of Rosemary Hills, Rock Creek Forest, East Bethesda and Whitehall Condominium.