Posts Tagged ‘ home ownership ’

Real Estate 360 Live With Louis Cammarosano 4/23/12

On Monday April 23, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:40)

Ryan notes that the Fed is going to meet again next week and that many experts expect another round of quantitative easing. Louis thinks that the Fed won’t announce QE3 and that a lot of capital is flowing into the US as a result of the problems in Europe and that indeed many economists expect the US dollar to appreciate in value. Louis is not certain that is a well founded belief, but one that is prevalent.

Louis notes that an announcement of QE3 might cause a bit of a panic because it would be an admission that the recovery is not taking hold and oil prices would rise. Louis thinks that although the Fed may want to do QE3 they will probably hold off until after the election in November.  Louis notes that the average investor is either short on cash or can not save as interest rates are low so they put their money in the stock market which drives valuations higher.

Louis notes that if you really wanted a strong dollar you would want higher interest rates so people would save money and invest in treasuries, rather than the Fed printing money out of thin air to buy them and thereby devaluing the dollar. Ryan notes that the dollar is appreciating vs the Euro. Louis notes that the dollar is not however strengthening against gold silver and oil. Louis notes that the amount of gold being mined is not as great as the amount of money being printed.

Louis and Ryan note the rising rental market. Louis notes that college grads will also put pressure on the rental market as most won’t be in a position to buy homes as they have student loans to pay and poor job prospects and will more often than not be renting.  Louis notes that the American Dream of home ownership is in jeopardy for young people.

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Posted by: Louis Cammarosano on May 1st, 2012 under HomeGain Radio, HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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Real Estate 360 Live With Louis Cammarosano 2/13/12

On Monday February 13, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big Talker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:38)

Ryan noted that Apple topped $500 a share and the passing of Whitney Houston. Ryan discusses the robo signing settlement with the banks. Louis notes that the banks now have to give back some of the money they received in the bailout.

Louis notes that the low Federal Reserve rates, the Community Reinvestment Act and policies of Freddie Mac and Fannie Mae encouraged excessive lending by the banks which caused the housing bubble. Louis notes that the settlement also involves more money being spent on the housing market. Louis notes that if banks lose money as a result of the foreclosure settlement, they will probably raise fees or interest rates. Louis notes that the onerous regulations that the banks are subject to keep competitors out.

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Posted by: Louis Cammarosano on March 12th, 2012 under HomeGain Radio, HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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Real Estate 360 Live With Louis Cammarosano 2/6/12

On Monday February 6, 2012, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate 360 Live radio show on The Big lowTalker 1580 WHFS AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (15:37)

Louis and Ryan discuss the Superbowl and the ads that played. Ryan reviews the 10 bond interest rates, the level of the Dow and the situation in Greece. Louis notest that Greece should just default and send a message to the market, rates would go up and governments would have to spend less as they could not afford to borrow money at the higher rates.

Louis notes the irony of a Greek default-it won’t draw attention to the US being in a similar situation, but rather will draw investors to the US as a safe haven. Louis notes that the debt crisis will end up on the US doorstep last and notes that the US won’t default but rather will print up the difference.

Louis notes that printing the difference is inflationary and is in effect a default as the investors will receive less value than they were anticipating. Louis notes that investors have become used to receiving  100% of their funds back from soverigns as they expect a trouble sovereign to be bailed out .

Louis notes that a potential bailout is priced into the risk, thereby reducing the risk and interest rates.  Louis notes that accounting rule encourage banks NOT to do short sales.

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Posted by: Louis Cammarosano on February 13th, 2012 under HomeGain Radio, HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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HomeGain’s 2012 National Home Ownership Satisfaction Survey Results

HomeGain, one of the first companies to provide free instant home valuations online, announced the results of its 2012 Home Ownership Satisfaction Survey. Homeowners were asked whether they were satisfied with owning a home and whether price appreciation or depreciation was a factor. Over 1,400 home owners from across the nation were surveyed.

Overall, 72 percent of surveyed homeowners indicated that they were satisfied with owning a home and 28% said they were dissatisfied. When asked if price appreciation was the primary reason for their satisfaction, only 24 percent said yes. Seventy-six percent listed other reasons for being satisfied. The most popular responses were pride of ownership, and freedom to control what type of home improvements and upgrades go into their homes.

Sixty-three percent of homeowners who indicated they were unsatisfied with home ownership said that price depreciation was the primary reason. Of the 37 percent who listed other reasons for being unsatisfied, the most cited responses were the costs of home ownership, including property taxes, homeowner association fees, and maintenance and repairs.

“The HomeGain 2012 National Home Ownership Satisfaction survey shows in spite of declines in the values of homes nationwide, satisfaction among home owners remains high at 72 percent, with nearly 3 of 4 home owners satisfied with home ownership.” said Louis Cammarosano, General Manager of HomeGain. “Of the 28 percent of surveyed homeowners who indicated they were unsatisfied, 63 percent cited price depreciation as the primary reason.”

On a regional basis, the highest percentage of homeowner satisfaction was in the Northeast, with a 77 percent satisfaction rate. The Southeast ranked second with 73 percent, followed by the West with 71 percent, and the Midwest with 68 percent.

The survey asked when homes were purchased, the purchase prices of the homes, the type of homes purchased (short sale, foreclosure, new or existing), and the age groups of the homeowners.

Overall, homeowners who purchased their homes between 3-8 years ago were the least satisfied. Homeowners who purchased their home within the last three years or more than 8 years ago, were the most satisfied.

Homeowners who paid less than $75,000 for their home were the most satisfied, with a 77 percent satisfaction rate. Homeowners who purchased a home for more than $800,000 were the least satisfied, with a 69 percent satisfaction rate.

Those purchasing foreclosed homes or homes in a short sale had the highest home ownership satisfaction rates at 79 percent and 83 percent, respectively. Those who purchased new or existing homes had lower satisfaction rates at 73 percent and 71 percent, respectively. Sixty-seven percent of homeowners who purchased a new home, and 64 percent of homeowners who purchased an existing home, indicated that price depreciation was the primary reason for being unsatisfied.

Homeowners ages 18-25 were the least satisfied with home ownership, with a 45 percent satisfaction rate. This is the only age group to have a satisfaction rate below 50 percent. Homeowners ages 55-65 were the most satisfied with home ownership, with a 76 percent satisfaction rate.

The complete national results can be found below. Click on a question to jump to that question’s results:

  1. Overall, are you satisfied with home ownership?
  2. When did you purchase your home?
  3. What was the value of your home when you purchased it?
  4. What type of home did you purchase?
  5. What is your age?

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Posted by: Louis Cammarosano on January 20th, 2012 under Home Ownership Satisfaction Surveys, HomeGain Surveys

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Real Estate Radio With Louis Cammarosano 10/10/11

On Monday October 10, 2011, Louis Cammarosano, General Manager of HomeGain, was a guest on the Real Estate Radio show on The Big Talker 1580 AM, hosted by Ryan Sloper.

Listen to the show.

Part 1 (14:28)

Ryan notes the disconnect between where the media thinks interest rates are headed and where they actually are. Louis discusses investors attitudes towards Europe and notes that because the situation in Europe is uncertain that they rush to US dollar denominated assets which pushes interest rates lower. Louis notes that at some point the market will figure out that US treasuries are not really a good investment and that interest rates will head higher. Louis notes that because of the Fed policies and the perceived quality of US treasuries that US interest rates are artificially low. Louis notes that all things considered equal, interest rates are attractive now, especially long term mortgage rates. Louis and Ryan discuss the cost of home ownership vs renting.  Louis notes that everything is going up (consumer goods and rents) except interest rates and home prices. Louis notes that rents will rise in the coming years but that a low fixed rate mortgage will stay low over the next few year. Louis notes that you can lock in your lowest cost-shelter-by taking out a long term interest rate mortgage rate. Ryan notes that rate of home ownership is declining and notes that its not necessary to have a 70% home ownership rate.  Louis notes that a lot of people have lost their homes and that a new generation of potential homebuyers are not there because the younger generation is facing a high employment rate. Louis notes that the decision to buy a home should not be based on what the home ownership rate is but rather what your personal situation is.

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Posted by: Louis Cammarosano on October 23rd, 2011 under HomeGain, HomeGain on Real Estate Radio, Louis Cammarosano on Real Estate Radio

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