{"id":10081,"date":"2009-10-14T13:33:06","date_gmt":"2009-10-14T20:33:06","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=10081"},"modified":"2009-10-14T13:33:06","modified_gmt":"2009-10-14T20:33:06","slug":"pent-up-demand-seen-in-purchase-ready-renters","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/10081\/pent-up-demand-seen-in-purchase-ready-renters\/","title":{"rendered":"Some Updates from the Marble Tower"},"content":{"rendered":"

Here are a few pieces of kibble from NAR that I thought the Pound might want to chew on… <\/p>\n

  <\/p>\n

Pent-up Demand Seen in Purchase-Ready Renters
<\/b> <\/p>\n

There are more than 16 million renter households in the U.S. with enough income to buy a home at the national median price, far more than in 2000, before the housing boom, says NAR Chief Economist Lawrence Yun. This large number of renters with the financial wherewithal to buy is one indication of the pent-up demand in the housing market that can be tapped if Congress extends the home buyer tax credit. It’s also an indication that the tax credit won’t just be attracting households that would buy anyway. Hear Yun’s remarks on market conditions and the tax credit in an audio podcast<\/a>. <\/p>\n

  <\/p>\n

New FHA Condo Process Could Face More Delay
<\/b>HUD is looking at delays to its new FHA condo approval process. Changes outlined in Mortgagee Letter 2009-19<\/a> slated to take effect for case numbers assigned on or after Oct. 1 have been delayed to apply to case numbers assigned on or after Nov. 2, and that start date could be pushed back as well. Other condo rules, including permission for lenders to offer spot loans, remain in effect. NAR continues to press for changes<\/a> to federal policy to make FHA financing more viable for condos. Among other things, NAR wants a reduction in the owner-occupancy requirement and an increase in or outright elimination of the concentration limit.<\/p>\n

 <\/p>\n

2008 HMDA Data: FHA Credit Quality Remains High
<\/b>FHA’s market share of home loan originations expanded to 30 percent while the credit quality of its loans improved, latest federal mortgage data<\/a> gathered under the Home Mortgage Disclosure Act (HMDA) finds. In 2008, FHA’s FICO scores increased significantly while loan-to-value (LTV) ratios decreased. More than 60 percent of FHA’s increased purchase volume was to borrowers with prime quality FICO scores (above 660), while FHA insured mortgages with LTVs above 95 percent fell from 72 percent  to 67 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"

Here are a few pieces of kibble from NAR that I thought the Pound might want to chew on…   Pent-up Demand Seen in Purchase-Ready Renters There are more than 16 million renter households in the U.S. with enough income to buy a home at the national median price, far more than in 2000, before […]<\/p>\n","protected":false},"author":35,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[251,26,5],"tags":[],"class_list":{"0":"post-10081","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-big-mother","7":"category-lending","8":"category-real-estate","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":5554,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5554\/nar-promotes-housing-stimulus-plan\/","url_meta":{"origin":10081,"position":0},"title":"NAR Promotes Housing Stimulus Plan","author":"Dave Phillips","date":"November 12, 2008","format":false,"excerpt":"Here is a fresh bone for Bloodhounds to chew on.\u00a0 This 4-point stimulus plan was approved by the NAR Board of Directors this past Monday and is being pushed heavily in Washington DC.\u00a0 The National Association of Realtors\u00ae will offer a four-point legislative plan to reinvigorate the housing market, calling\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9901,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9901\/do-today%e2%80%99s-home-prices-reflect-their-market-value\/","url_meta":{"origin":10081,"position":1},"title":"Do Today\u2019s home prices reflect their market value?","author":"Al Lorenz","date":"September 29, 2009","format":false,"excerpt":"Can you really look at a buyer today and tell them that they are buying their home at a good price?\u00a0 Sure, you can tell them how the price they are paying compares to what folks have been paying the last few months, or few years.\u00a0 But that doesn't mean\u2026","rel":"","context":"In "Dirty Laundry"","block_context":{"text":"Dirty Laundry","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dirty-laundry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7402,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7402\/if-i-never-make-a-single-payment-on-my-super-cheap-fha-loan-do-i-still-get-my-8000-tax-credit\/","url_meta":{"origin":10081,"position":2},"title":"“If I never make a single payment on my super-cheap FHA loan, do I still get my $8,000 tax credit?”","author":"Greg Swann","date":"March 8, 2009","format":false,"excerpt":"WAPO:The last time the housing market was this bad, Congress set up the Federal Housing Administration to insure Depression-era mortgages that lenders wouldn't otherwise make. This decade's housing boom rendered the agency irrelevant. Americans raced to aggressive lenders, seduced by easy credit and loans with no upfront costs. But the\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6854,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6854\/some-ugly-questions-about-that-15000-home-buyers-tax-credit\/","url_meta":{"origin":10081,"position":3},"title":"Some ugly questions about that $15,000 home-buyers tax credit…","author":"Greg Swann","date":"February 9, 2009","format":false,"excerpt":"I let the hoopla over the $15,000 tax credit for home-buyers of all incomes slide last week. There's way too much sick-making news coming out of Washington right now, and, somehow, Republicans dancing in triumph because they had managed to squeeze out a little theft for the rich -- and\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7404,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7404\/why-fha-loans-wont-be-getting-cheaper-or-easier\/","url_meta":{"origin":10081,"position":4},"title":"Why FHA Loans won’t be getting cheaper or easier…..","author":"Tom Vanderwell","date":"March 9, 2009","format":false,"excerpt":"When the subprime market imploded and people starting rushing to FHA, the \"chant\" was that FHA is the new \"subprime.\"\u00a0\u00a0 FHA originations skyrocketed and anyone who didn't have a 700 credit score and a downpayment of 5 to 10% was quickly led into FHA.\u00a0\u00a0 I remember reading statistics of different\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4128,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4128\/racing-the-clock-on-dpa-programs-will-the-dems-save-the-day\/","url_meta":{"origin":10081,"position":5},"title":"Racing the Clock on DPA Programs: Will The Dems Save the Day?","author":"Brian Brady","date":"August 27, 2008","format":false,"excerpt":"I had some fun, yesterday, with a report about the down payment assistance ban and the First-Time Homebuyer Tax Credit.\u00a0 I poked fun at the hypocritical nature of the Down Payment Assistance Programs and speculated that the Tax Credit might be collateral for a \"tax refund loan\", thereby, facilitating the\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/10081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=10081"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/10081\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=10081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=10081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=10081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}