Fairfax County Refi Volume Slows

The refinance volume for Fairfax County, VA has slowed this summer even though rates remain low. Take a look at the chart below:

After reaching highs between October through March, things have slowed in the summer months. It will be interesting to see if this continues through the Fall.

Monthly Home Sales in Fauquier County, VA Highest in Two Years!

Here is some good news - monthly home sales in Fauquier County, Virginia reached its' highest level since June 2010. The chart below shows the monthly home sales and monthly median home price for this county from June 2010 through May 2012: ce June 2010. The chart below shows the monthly home sales and y median home price for this county from June 2010 through May 2012:

LasVegas Home Sales Still Struggling

In late December 2010, I wrote an article about how sales were still lagging in Las Vegas even though the Median Home Price was more stable.  Below is a chart showing how things are going over the last 12 months:

As you can see the sales are continuing to trend downward.  Check back on our blog next week for more updated information on other struggling real estate markets.

USAA Federal Passes Wells Fargo in VA Market

USAA Federal has passed Wells Fargo to become the leading lender of VA Home Purchase Loans through August 2011. See the chart below to see how they did it and click on the chart to view a larger image:

USAA saw a large increase in their monthly originations in May and June to push ahead of Wells Fargo. Will they continue to have the staying power through the end of the year? Check back to our blog in a couple of months.

Update on Arlington County, VA Home Prices

Last year, I wrote about the increasing home prices and resulting increase in sales in Arlington County, VA. Below is an updated chart that shows from June 2010 through August 2011:

This chart shows a slight increase in median home price in August 2011 from June 2010 but no real increase in home sales (we see the usual seasonal peaks and valleys) over that period. There is no bad news as there is in many other areas of the country. I will follow up on this area again with a blog article sometime next year to see if things are changing for the better.

Miami Metro Median Home Price Is Stable?

Below is a chart that shows the trends for median home price and home sales for the Miami Metro area from January 2007 through August 2011.

It appears since the beginning of 2009 that the median home price has stablized. That is some good news, unfortunately though home sales are flat. So it definitely seems to be a good news - bad news situation. Things don't seem to be getting any worse but we don't see rapid improvement either. Stay tuned for more updates on this blog.

Fairfax County Median Home Price Update

Last December, I reported how both the Median Home Price and Sales were trending downward in Fairfax County, VA. Below is a chart that shows what has been taking place since that time. This chart shows the median home price and sales for the period of September 2010 through August 2011:

It appears the news over the last twelve months is a little better. The median home price is about $30,ooo higher than a year and sales seem to be trending upward. I will keep an eye on this positive trend to see if it continues. Check our blog in the future to see if there is more good news for Fairfax County.

Las Vegas Sales Improve

Last December I wrote a blog post about the continuing bad news on home sales in the Las Vegas market from 2008 through 2010. There is finally some good news to report - take a look at the chart below for the twelve months of September 2010 through August 2011:

The number and dollar amounts for purchase mortgages have been trending upward for the last 12 months. Click on the image above for a larger view.

Palm Beach Sales Dip Despite Price Stabilization

Despite a nice stabilization of median home prices in recent months, home sales are continuing to drop in Palm Beach County, Florida. The chart below shows the trend for median home prices and homes sales from December 2009 through November 2010.

This will be a good geographic to monitor over the next six months to see what happens in the Spring 2011. Check back with our blog over the next few months to see if things improve for this area.

Las Vegas Home Sales Continue to Fall

Despite a stabalization of median home prices in Las Vegas, NV - home sales have dropped significantly from the same period in 2009. The chart below shows the trends for Median Home Price and Home Sales from November 2008 through October 2010:

Is there any relief in sight? We will continue to monitor this area in the coming months. Check our blog after the 1st of the year.

Fairfax County Median Home Price Dips

After some positive signs of home sales prices rising in Fairfax County, VA during the summer months - things seem to be slumping again. See the chart below:

After reaching a recent high in June, we have seen a steady monthly decline since that time. Is this just a seasonal adjustment as sales have slowed in the Fall or a trend? This bears watching in the coming months.

Las Vegas, NV Median Home Price Leveling Out

So what does it mean that the Median Home Price for Las Vegas has leveled out over the last 12 months?

See the chart below.

Will Buyers sell? Even though the median price has stayed at the relatively same level for the last 12 months - seasonal sales have continued to drop from 2009 levels in 2010. In March 2009, there were 2,425 homes sold as compared to 1,588 homes sold in March 2010.

What does it all mean?

Home Values Are Rising!

The news is improving in some places. Below is a chart tracking the Median Home Price in Arlington County, VA for the last 18 months or so. When comparing May 2009 (where Median Home Price was $456 K) and May 2010 (where Median Home Price was $520 K) we have seen a nice increase.

Click on the image below for a larger view of the chart.

We hope this positive sign shows in other places around the country in the remainer of the summer.

Are Things Looking Up in Harris County?

After reaching a post 2007 low in January, the median home price and home sales in Harris County, Texas bounced back in March. Is this a long term trend?

Take a look at the chart below:

Notice that the March 2010 sales figure returned to apporximately the same level as March 2009. We will continue to monitor this trend (if it is a positive trend in future months). What are your thoughts?

Conventional Mortgage Originations Drop!

The title of my blog post today is not necessarily a big surprise but the magnitude of this drop may be surprising to you. My chart below shows the monthly Conventional loan originations (Purchase and Refinance combined) from January 2009 to April 2010. When comparing January 2009 to January 2010, you can really see how drastic the drop has been in Conventional loan originations.

In January 2009, there was 389,460 Conventional loans as compared with January 2010 at 260,326 loans. See the chart below.

We will monitor this and see what happens over the summer.

FHA Leading Originators: January 2010 versus prior year

Click on Chart for Larger View

The table above lists the leading FHA mortgage originators for January 2010. For each mortgagee in this list, the lending volume for January 2009 is included to illustrate the year over year change.

The data shows both Wells Fargo and Bank of America are bigger and have greater market power. Much of the increase for Wells can be attributed to the acquisition of Wachovia and much of the increase for Bank of America are the result of acquiring Countrywide. A similar contribution to increased market share and higher ranking applies to MetLife Bank, who acquired First Horizon's mortgage offices and PNC who acquired National City. Later on we shall see if these bank institutions can maintain their upward momentum. Meanwhile, JP Morgan is not only giving up market share to their competitors, they are giving up FHA originations in an increasing mortgage market segment.

The accomplishments of Quicken, Metrocities, Suntrust, PHH, and Primelending reveal new leaders in the realigned FHA mortgage market.

Wells Fargo Mortgage is tuff to beat!

Click on Map Image for Larger View

The map image shows the retail mortgage market share rankings of Wells Fargo Mortgage in all counties. The bright red colors represent first position in the market. The mortgage data includes all FHA home purchase mortgages for 2009.

Down Goes Conventional Purchase Mortgages!

We are tallying up thee totals for 2009 conventional mortgages.  The chart below shows the mortgage data we collected.  The total number of conventional purchase mortgages continues to reach new lows.  You are feeling it in your sales but hang on!  This year will be a bottom and an up tick should be visible soon!.

Click on Chart for Large Image and More Statistics

Later posting will identify emerging mortgage markets in the U.S. hopefully it is a market near you!.

Cherry Creek Mortgage Wins Colorado FHA Gold

Cherry Creek Mortgage captures first place among all FHA mortgage originators in Colorado for 2009. Cherry Creek, previously ranked third in FHA originations, edged out a lead over Wells Fargo Mortgage.

The data table below shows the FHA mortgage lending volume and market share of the top 10 FHA originators in Colorado for 2009 and their changes over the prior year.

Click Table for Larger View and More Statistics

Hot FHA and VA Mortgage Market in DC and Northern Virginia

Northern Virginia and DC metro are witnessing a robust and growing FHA and VA mortgage origination market.   The chart below shows continuous growth in FHA and VA mortgage originations in the DC and Northern Virginia division of the Washington Metro area.  Each month experienced an increase in mortgage originations over the same month in the prior year. Perhaps this snow storm will result in a backlog at closing offices and court recordings.

Click on Image for Larger View and More Statistics

Other Note (not very related):
While we dig out of from the snow storm in Northern Virginia, there are not going to be many mortgage closings today. Court houses are closed. People cannot get to their settlement offices. Would a mortgage lender fail to extend a closing deadline by a few days on account of snow?. Anyone who knows of a loan deal to fail because of this storm, let us know about it in a reply post.

Colorado Conventional Mortgage Market Contracting While FHAVA Expands

Click Chart for Larger View and More Options

The chart above shows the monthly number of conventional purchase mortgages captured from 22 metropolitan area counties in Colorado since January 2005.  The trend shows a continuous contraction of sales for this mortgage product in Colorado since through December 2009.

The next chart (below) shows the number of monthly FHA and VA mortgage originations from all areas of Colorado since January 2005.  The trend shows continuous growth in sales of government insured purchase mortgages. 2009 was the best of the past 5 years for FHA and VA mortgage products in Colorado.

Click Chart for Larger View and More Options

Wells Wipes Out the Mortgage Competition in Colorado!

Click Chart for Larger View and More Statistics

Wells Fargo Mortgage, with more than a 17 percent share, is the conventional mortgage origination leader in Colorado for 2009.  No other lender appears to come close.  The combined mortgage originations of  Bank of America and Countrywide hardly read 7 percent of the market.  Two local lenders, namely Cherry Creek and Megastrar Financial, both from Denver, have accumulated an impressive share of mortgage sales in Colorado up against the large national lenders.

Top Conventional Mortgage Lenders for 2009

Click on Report for Larger Image and Chart Options

The report  above shows the leading conventional mortgage originators for 2009. The data includes mortgage recordings collected as of January 20, 2010.  More mortgage data will be added for 2009 however the leading lender in the nation, Wells Fargo, is likley to be sustained after all data is collected and tabulated.

MetLife Bank and Quicken Loans have moved into the TOP ten leading lenders in 2009.  Wachovia (who was aquired by Wells) and Natonal City were former members of the elite TOP ten mortgage lenders.

Later will shall publish the leading Conventional mortgage lenders for 2009 in the state of Colorado.

Top VA Mortgage Lenders for 2009

 

The chart above shows the leading VA mortgage lenders for 2009.  Note that Bank of America acquired Countrywide, MetLife Bank acquired most mortgage operations of First Horizon Home Loans, Taylor Bean Whitaker is bankrupt, and National City was acquired by PNC Financial. These institutions may have recorded mortgages under names prior to their aquisition dates. Mortgage Investors Corp specializes in refinance mortgages.  

One big winner for the year include Bank of America who increased their VA mortgage market share from 1.9% in 2008 to 4.94% in 2009. Mortgage Investors Corp also showed renewed strength by doubling their market share  in 2009 to nearly 3.00% and moving from 15th in the nation to 4th in the nation in VA mortgage origination (wonder what they would be if we only considered refinance mortgages?). We have report products that tell you that!

Later will shall publish the leading Conventional mortgage lenders for 2009.

Top FHA Lenders for 2009

     

The chart above shows the leading FHA mortgage lenders for 2009.  Note that Bank of America acquired Countrywide, MetLife Bank acquired most mortgage operations of First Horizon Home Loans, Taylor Bean Whitaker is no longer originating mortgages, and National City was acquired by PNC Financial. These institutions may have recorded mortgages under names prior to their aquisition dates.

Later will shall publish the leading VA mortgage lenders for 2009.

Bailouts and Social Services

When I applied for handicapped parking I had to go to Nassau County Social Services. You wouldn't believe what I saw there. It was like a candy store for free money, and it doesn't matter whether or not you deserve it (or even need it). Just to make sure that they give away the maximum amount of free money they have digital signs advertising every program imaginable. Here for food stamps? What about aid for paying utilities? Need housekeeping? Help managing your finances? Temporary housing? Medical transportation? Do you know how to give other people's money away? We're looking for people to work here.



I didn't see AIG, Lehman Brothers and Bank America on the line, but I think that's because they have a VIP entrance with valet parking.


I want what AIG got. A TRILLION DOLLARS. Don't forget the food stamps, housecleaning, handicapped parking and special housing. I'm not asking for much. I'm a capitalist, so the government should send me free money just like they do with the other capitalists. Then I can give myself the bonus I deserve.

No wonder people want to come to America. This is truly the land of opportunity. You can earn a billion dollars here. Or, you can lose a billion dollars and the government will give you 2 billion to make up for it (plus housekeeping, food stamps and handicapped parking).


So tell the world that in America the streets are paved with food stamps and entitlement programs. Universities offer programs in giving other people's money away (and the coursework is very easy, too). But lets make sure that we let lots of illegal immigrants in, because someone has to work in order to pay for all this.

Whatever happened to welfare reform? Shouldn't all those executives at AIG be sweeping streets to pay for their welfare? For a trillion dollars we should make them clean up America with a toothbrush.

I have the ultimate idea to support capitalism. The US should insure stock trades. Stocks can go up, but they can never go down. Just imagine what that would do for the stock indexes.

A blog follower sent me the above viewpoint. The author requested that his/her name be withheld.

Chicago Metro Median Home Price Rising

The median home price for homes sold in the Chicago Metro area is slightly tracking upward over the last few months. Below is a chart tracking the monthly median home price for the last 3 years.

Click on the image below for a larger view.

Is this a sign of improvement in sales coming next Spring? It is too early to tell. We will monitor this situation closely over the coming months and report back.

Times Are Tough in Miami

The Conforming loan originations for Miami have dropped by over 50% when comparing September 2009 vs. September 2008.

Click on the image below for a larger view.

This market has probably not reached the bottom yet. Some estimates are suggesting that the median home price in Miami could drop another 30% by next June. Let us hope they are wrong. We will continue to monitor this market over the next six to eight months.

National FHA Purchase Mortgages Reaches New High

FHA Purchase Mortgage Originations reaches new two year high nationally in August 2009. There were 109, 110 FHA Purchase Mortgages in August 2009 a slight increase over the previous high in August 2008 of 107,357. See the chart below to see the monthly originations trend from September 2007 to the present.

Click on the image for a larger view.

FHA has set even more aggressive goals for Fiscal Year 2010, so these numbers my continue to rise over the next year.

Union Bank Largest Mover in 2008

Union Bank of California showed the largest increase in market share from 2007 to 2008 in Los Angeles County when analyzing Home Mortgage Disclosure Act (HMDA) data that just became available.

Take a look at the top ten movers in LA County from 2007 to 2008.