April realtor.com® Report Shows Housing Recovery Accelerating, as List Price and Inventory Increase

SAN JOSE, -- Realtor.com^®, the leader in online real estate operated by Move, Inc. (NASDAQ: MOVE), released its April data showing that the U.S. housing market is on its way to a broad-based recovery, an accelerated trend since March. The home buying season shifted into high gear last month as inventory and home list prices on realtor.com^® increased by 4.12 percent and 2.63 percent, month over month, respectively. As of April, homes are on the market nationwide approximately 81 days—a decrease of nearly 11 percent since April 2012—highlighting that while new homes are entering the market they are not available for long.

"Due to increased demand for homes and more confidence in the job market – we are beginning to see more and more buyers entering the housing market," said Steve Berkowitz , chief executive officer of Move. "Home buying season is off to a strong start, as buyers capitalize on moderate housing prices and snatch up homes quickly.  In some markets, we are seeing homes staying on the market for only a few weeks."

Despite the increase in inventory month over month, nationwide inventory declined year over year in all but 11 of the 146 markets realtor.com^® monitors. Approximately 36 markets registered a decrease of listings by 20 percent or more, still highlighting near records lows of available homes.

Approximately 37 markets experienced a decline in list price since last year, a figure that has been improving throughout the home buying season. The number of markets throughout the nation experiencing a steady or slight decline in median list prices is decreasing throughout the home buying season, another positive signal for the overall housing market recovery. In April, median list prices increased in 109 markets.

National Data

• ·         In April, the total number of single-family homes, condos, townhomes and co-ops for sale in the U.S. (1,750,839) increased by 4.12 percent month-over-month. On an annual basis, however, inventory decreased by 13.54 percent.  
• ·         The national median list price for single-family homes, condos, townhomes and co-ops ($194,900) increased by 2.63 percent vs. March, and 3.12 percent since April last year.
• ·         The median age of inventory of for sale listings (81) fell by nearly 11 percent in comparison to April last year.  

Local Data

• ·         Only seven markets throughout the nation experienced a one percent or greater year on year increase in housing inventory since April 2012. The Shreveport-Bossier City, LA market lead the pack with an increase of inventory of 19.16 percent since April last year. Springfield, IL; Huntsville, AL; Ocala, FL; El Paso, TX; Albuquerque, NM and Little Rock-North Little Rock, AR markets followed, respectively.
• ·         California continues to dominate the top 10 list of markets with the largest increase in median list price throughout the nation—only two regions in the list fall outside of California. These markets were hit the strongest by the housing crisis and are showing a great rebound as the housing recovery picks up steam. Oakland experienced the largest year over year increase in list price at 46.94 percent. The Santa Barbara-Santa Maria-Lompoc, CA market followed at 44.81 percent.Sacramento, CA; San Jose, CA; Los Angeles-Long Beach, CA; Orange County, CA; Detroit, MI; Ventura, CA; Fresno, CA; and Phoenix-Mesa, AZ rounded out the top markets with the largest increases in list prices in the nation.
• ·         Oakland continues to lead the nation with the shortest median age of inventory (15 days). San Jose, CA; San Francisco, CA; Denver, CO; Seattle-Bellevue-Everett, WA; Anchorage, AK; Washington, DC-MD, VA-WV (DC); Orange County, CA;Sacramento CA; and Washington, DC-MD-VA-WV (VA) follow, respectively. Homes in these areas stayed on the market an average 32 days, down 40 percent compared to last year.

Realtor.com^® regularly tracks real estate data and develops monthly reports featuring the number of listings, median age of inventory and median list price across the U.S. and in specific markets, as well as provides year-over-year and month-over-month changes. These reports are the only ones pulled directly from the realtor.com^® database, with the majority of listings updated every 15 minutes from more than 800 multiple listing services. For more information on Move, please visitwww.move.com or one of its many online real estate properties including realtor.com^® at www.realtor.com.

One-third of Homebuyers Surveyed Are Ill-prepared to Get a Mortgage

SEATTLE -- After several years of depressed demand for homes, buyers are returning to the market in droves. However, many homebuyers may be ill-prepared to take out a mortgage, answering basic questions about mortgage information wrong nearly one-third (32.5 percent) of the time[i], according to a Zillow® Mortgage Marketplace survey[ii] of prospective and current homeowners.

For example, one-third (34 percent) of first-time homebuyers are not aware that it is possible to get a home loan with a down payment of less than 5 percent. In fact, the number of lenders on Zillow Mortgage Marketplace quoting loan requests with a down payment between 3.5 and 5 percent has risen by 570 percent over the past two years[iii]. 

Homebuyers also do not understand how to secure the best possible interest rate and loan terms. One-quarter (26 percent) of homebuyers incorrectly believe they are obligated to close their loan with the lender that pre-approved them, and, separately, 24 percent of homebuyers incorrectly believe that the best interest rates and fees can always be found through the bank they currently do business with. Additionally, one-third of buyers (34 percent) believe all lenders are required by law to charge the same fees for credit reports and appraisals.  In fact, homebuyers should always shop multiple lenders to compare rates and fees in order to find the best loan for their situation.

The survey also reveals that current homeowners lack understanding of basic refinancing rules, which may be costing them money each month. One in five, or an estimated 14 million homeowners[iv], said they did not believe underwater borrowers could refinance. In fact, more than 2.2 million underwater borrowers have already refinanced through the federal Home Affordable Refinance Program, which was recently extended through 2015[v]. Separately, almost half (47 percent) of current homeowners believe they must wait at least one year between refinancing.

"All too often buyers focus on negotiating a lower home price and ignore the importance of finding the right loan. If a home buyer can lower their interest rate by even half a percentage point, they can not only increase their purchasing power, but save thousands of dollars over the life of the loan," said Erin Lantz , director of mortgages for Zillow. "Buyers should always shop multiple lenders and compare rates and fees and read lender reviews in order to find the best loan for their situation."

Additional survey findings:

• One-third (34 percent) of polled prospective homebuyers do not know what the term "annual percentage rate" (APR) means. The annual percentage rate (APR) is a yearly rate that reflects the true cost of a mortgage and is inclusive of the interest rate, points, mortgage insurance (when applicable), and other fees, including origination and underwriting fees.  The APR will typically be higher than the interest rate quoted by lenders, and should be used as a starting point when comparing loan quotes between lenders.
• Half (50 percent) of prospective homebuyers in the study do not understand that mortgage rates change throughout the day. In reality, much like the stock market, mortgage rates can change rapidly throughout the day. To get the optimum rate, it is important to monitor rates and shop around.
• Nearly one-third (31 percent) of current homeowners incorrectly believe that you must wait seven years after a short sale or foreclosure to purchase again. In most cases, homebuyers with a short sale history typically only need to wait 2-4 years depending on their down payment and the loan type. The waiting period after a foreclosure is longer – typically, buyers need to wait 3-7 years before they can qualify for a new home loan.
• More than one-third (34 percent) of current homeowners incorrectly believe that you can only refinance your home every 12 months. In reality, homeowners can refinance as often as they want. However, homeowners should weigh the cost of the refinance against the time they will own the home and the monthly payment change to determine if refinancing makes sense.

Interactive Online Quiz and Resources Available
An online version of the Zillow Mortgage Marketplace survey, the "Mortgage IQ Quiz," is available atwww.zillow.com/mortgage/quiz/  and contains the correct answers and detailed explanations to each question. Following the quiz, participants are given a score and resources to learn more about mortgages and the mortgage process. 

Bankrate: Mortgage Rates Rebound After Better Jobs Report

NEW YORK-- After declining for seven straight weeks, mortgage rates moved higher following better than expected news about jobs, with the benchmark 30-year fixed mortgage rate increasing to 3.6 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.31 discount and origination points.

To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/.

The average 15-year fixed mortgage jumped to 2.82 percent, while the larger jumbo 30-year fixed mortgage rate settled at the 4 percent mark. Adjustable rate mortgages were mostly higher, with the 5-year nosing higher to 2.64 percent and the 10-year ARM climbing to 3.2 percent.

Mortgage rates had fallen for seven consecutive weeks, to levels that were at, or near, record lows. But the April jobs report was better than expected and helped sway sentiment about the economy. Both bond yields and mortgage rates increased, as mortgage rates are closely related to yields on long-term government bonds. So much of the economy's health is gauged by job growth, and this month's report came on the heels of a lousy March jobs report and some other soft economic data in recent weeks. In particular, the number of new jobs was revised upward for each of the two previous months.

The last time mortgage rates were above 5 percent was Apr. 2011. At the time, the average 30-year fixed rate was 5.07 percent, meaning a $200,000 loan would have carried a monthly payment of $1,082.22. With the average rate currently at 3.6 percent, the monthly payment for the same size loan would be $909.29, a difference of $173 per month for anyone refinancing now.

SURVEY RESULTS 

• 30-year fixed: 3.60% -- up from 3.52% last week (avg. points: 0.31) 
• 15-year fixed: 2.82% -- up from 2.75% last week (avg. points: 0.31) 
• 5/1 ARM: 2.64% -- up from 2.63% last week (avg. points: 0.23)

Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.

For a full analysis of this week's move in mortgage rates, go to http://www.bankrate.com/.

The survey is complemented by Bankrate's weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. Just more than half of respondents don't expect much change in mortgage rates over the coming week, with 54 percent forecasting that mortgage rates will remain more or less unchanged. The remainder were evenly split between predicting an increase (23 percent) and predicting a decline (23 percent).

For the full mortgage Rate Trend Index, go to http://www.bankrate.com/RTI.

CoreLogic Home Price Index Rises by 10.5 Percent Year Over Year in March

—Pending HPI Projects 9.6 Percent Growth Year Over Year in April—

Irvine, Calif. — CoreLogic^® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its March CoreLogic HPI^® report. Home prices nationwide, including distressed sales, increased 10.5 percent on a year-over-year basis in March 2013 compared to March 2012. This change represents the biggest year-over-year increase since March 2006 and the 13th consecutive monthly increase in home prices nationally. On a month-over-month basis, including distressed sales, home prices increased by 1.9 percent in March 2013 compared to February 2013*.

Excluding distressed sales, home prices increased on a year-over-year basis by 10.7 percent in March 2013 compared to March 2012. On a month-over-month basis, excluding distressed sales, home prices increased 2.4 percent in March 2013 compared to February 2013. Distressed sales include short sales and real estate owned (REO) transactions.

The CoreLogic Pending HPI indicates that April 2013 home prices, including distressed sales, are expected to rise by 9.6 percent on a year-over-year basis from April 2012 and rise by 1.3 percent on a month-over-month basis from March 2013. Excluding distressed sales, April 2013 home prices are poised to rise 12 percent year over year from April 2012 and by 2.7 percent month over month from March 2013. The CoreLogic Pending HPI is a proprietary and exclusive metric that provides the most current indication of trends in home prices. It is based on Multiple Listing Service (MLS) data that measure price changes for the most recent month.

“For the first time since March 2006, both the overall index and the index that excludes distressed sales are above 10 percent year over year,” said Dr. Mark Fleming, chief economist for CoreLogic. “The pace of appreciation has been accelerating throughout 2012 and so far in 2013 leading into the home buying season.”

“Home prices continue to rise at a double-digit rate in March led by strong gains in the western region of the U.S. Looking ahead, the CoreLogic pending index for April indicates that upward price appreciation will continue,” said Anand Nallathambi, president and CEO of CoreLogic. “Much of the price increases we are seeing are the result of rising demand among investors and homebuyers for a still-limited supply of homes for sale.”

Highlights as of March 2013:

• ·         Including distressed sales, the five states with the highest home price appreciation were:  Nevada (22.2 percent), California (17.2 percent), Arizona (16.8 percent), Idaho (14.5 percent) and Oregon (+14.3 percent).
• ·         Including distressed sales, this month only four states posted home price depreciation:  Delaware (-3.7 percent), Alabama (-3.1 percent), Illinois (-1.8 percent) and West Virginia (-0.3 percent).
• ·         Excluding distressed sales, the five states with the highest home price appreciation were: Nevada (20.8 percent), California (16.8 percent), Idaho (16.3), Arizona (15.1 percent) and Hawaii (+14.3 percent).
• ·         Excluding distressed sales, no states posted home price depreciation in March.
• ·         Including distressed transactions, the peak-to-current change in the nationalHPI (from April 2006 to March 2013) was -25.1 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -18.3 percent.
• ·         The five states with the largest peak-to-current declines, including distressed transactions, were Nevada (-49.2 percent), Florida (-42.8 percent), Michigan (-38.9 percent), Arizona (-37.8 percent) and Rhode Island (-36.2 percent).
• ·         Of the top 100 Core Based Statistical Areas (CBSAs) measured by population, 88 were showing year-over-year increases in March, down from 92 in February. 

·         

exas Quarterly Housing Report Shows Demand for Texas Homes

AUSTIN, Texas  -- the Texas Association of Realtors released the 2013-Q1 edition of the Texas Quarterly Housing Report, showing surging demand for Texas homes at the start of the year as well as rising prices and shrinking inventory. Fueled by Texas' population and job growth, the report bodes well for the summer selling season.

Shad Bogany , chairman of the Texas Association of Realtors, commented, "2012 was a strong year for Texas real estate and, based on these first-quarter results, 2013 looks to be even stronger. We've heard a lot about the growth of Texas and now we're starting to really see the impact on our real estate market."

As featured in the report, 53,937 single-family homes were sold in Texas in the first quarter of 2013, which is 17.53 percent more than the same quarter of the prior year. Of the 48 markets included in the report, 40 markets featured increases in sales, indicating the surge is broad-based throughout the state.

The median price for Texas homes in 2013-Q1 was $158,000, which is 7.04 percent more than the first quarter of 2012. In the same timeframe, the average price was $204,718, 6.87 percent more than 2012-Q1. The median price for Texas homes has steadily increased, exceeding or matching the price of the prior year every quarter since the Texas Quarterly Housing Report began in 2009.

"Historically, the median price for Texas homes has increased about four percent each year and we usually see the biggest jump in price between the first and second quarters," said Jim Gaines , PhD., economist with the Real Estate Center at Texas A&M University. "So, with price increases already in the range of seven percent in the first quarter, we could see Texas homes increase in value significantly this year."

However, Gaines also offered a strong caution, "We'll only realize our potential for increased sales volume if more sellers enter the market and start listing their properties, increasing the inventory of homes for sale."

In the first quarter of 2013, the market featured 4.2 months of inventory, which is 1.7 months less than the prior year. That is significantly less than the 6.5 months of inventory cited by the Real Estate Center as a market in which the supply of homes is balanced with demand.

Gaines explained, "There is clearly demand for Texas homes and rising prices are encouraging more homeowners to consider listing their properties. However, if a homeowner wants to move up, they must be able to find a property to move to, so more supply is needed to capture the growth potential in the market."

Gaines continued, "In the coming months, I expect we'll start to hear national news reports about increasing sales in other markets, possibly exceeding those in Texas. That's because other markets boomed in the mid-2000s and busted in the late 2000s, meaning they need dramatic increases in sales volume and price to recover. I call that an 'echo boom' and it's more indicative of market fluctuations than fundamentals. That never happened in Texas, so the increases you're seeing in our state are indicative of true increases in demand, driven by population growth. Assuming we continue to add jobs as we have recently, that will make our increases more sustainable."

The Texas Association of Realtors has been working to help the state absorb that growth, advocating for homeowners at the Texas Capitol during the current legislative session. Texas Realtors have advanced ideas on improving infrastructure for transportation and water in the state as well as consumer-protection provisions in the property-tax loan industry, mortgage lending and the property-appraisal process. The 83rd session of the Texas Legislature will conclude on May 31.

Chairman Bogany concluded, "The word is out that Texas is a great place to live and these results are further evidence of that. Now, Texas Realtors are on a mission to ensure that remains the case and help our state provide for the needs of its homeowners today and far into the future."

The Texas Quarterly Housing Report is issued four times per year by the Texas Association of Realtors with multiple listing service data compiled and analyzed by the Real Estate Center at Texas A&M University. To view the report for 2013-Q1 in its entirety, visit www.TexasRealEstate.com.

About the Texas Quarterly Housing Report

Data for the Texas Quarterly Housing Report is analyzed by the Real Estate Center at Texas A&M University using statistics compiled from 48 multiple listing services in markets throughout Texas. The report includes data for single-family home sales over the course of one quarter and is scheduled for release by the Texas Association of Realtors on the following dates each year (or the next business day): Feb. 1, May 1, Aug. 1 and Nov. 1.

Survey Says: More People Will Be Building with Recycled Building Materials This Spring

NEW YORK -- Every spring, more and more people start home improvement projects. Good news for the Earth: This spring, many of those people will be building with recycled building materials. In a recent poll by Hometalk.com, 91% of respondents said that they had either used recycled building materials this year, or were planning to.  You can see the growth in use of recycled building materials in these numbers:

• ·         Consumption of composite lumber made from recycled plastics increased by 58% in recent years, according to Recycling Today. 
• ·         The primary market for recycled plastics is the composite lumber industry, according to The American Chemistry Council. 
• ·         According to the American Iron and Steel Institute, 88% of today's structural steel is made from recycled materials. 
• ·         The Harvard Graduate School of Design reports a sharp increase in the use of sustainable roofing materials. 

·       While recycled lumber and composite decking lead the pack in popularity, other recycled building materials are seeing an increase in consumer demand. For instance, Hometalk.com member Brooks Custom, a fabricator of unique upscale counter tops, has expanded his line of counter tops to include recycled woods, metals, and concretes in order to meet customer demand for these materials.

"At Brooks we are experiencing an increased demand for Antique Chestnut and Southern Yellow Heart Pine from barn beams. These woods are very attractive and include lots of distress marks and imperfections. Our stainless steel countertops look crisp and new but steel is one of the most recycled metals in the world. Over 80% of waste steel is recycled and turned into new products, including countertops. Glass is another highly-recyclable material that has gained popularity, and we've seen an uptick in glass specialty tops," said Todd Costello of Brooks Custom.

"Many of the most popular projects on Hometalk.com are projects that incorporate recycled building materials. People seem to get extra enjoyment out of remodeling and building with these materials. I expect to see even more Hometalk.com members posting projects that involve recycled building materials as the spring remodeling season heats up," said Miriam Illions , Director of Community Development at Hometalk.com.

ABOUT HOMETALK: Hometalk is the center for home & garden on the Web, where DIYers and pros share ideas, inspiration and advice for their homes. The creatively charged community even makes doing household chores fun! You can browse through anything from DIY cleaners and repurposed pallets to successful gardening secrets and jaw dropping remodels from the pros! You'll discover and connect to passionate people who share your interests, and you will always have a helpful community to go to for advice on Hometalk: http://www.hometalk.com.

The Cat Lady May Be Living Next Door, According To A Recent Survey From Apartments.com

More Renters Are Becoming Pet Owners and Seeking Pet-Friendly Apartments,

Whether It's for Their Cats, Dogs, Fish or Birds

CHICAGO -- As National Pet Week approaches on next week, findings from a recent Apartments.com survey reveal it is more likely renters could be living next door to a dog lover, a cat lady or a bird boy today compared to recent years.  This year, 75 percent of renters surveyed said they are pet owners, compared to 43 percent in 2012.  These findings align with the improving U.S. economy; according to an American Veterinary Medical Association survey released last year, the difficult economy played a very strong role in the first decline in pet ownership since 1991. 

Half of the pet-loving renters surveyed by Apartments.com would like to believe their fellow apartment residents also adore their four-legged companions.  Fortunately, it turns out they are not far off, as nearly 60 percent of renters who do not own pets said they still enjoy living around others with pets.

"Nearly 80% of our survey respondents live in a pet-friendly building, indicating both landlords and residents without pets are increasingly recognizing that pet owners are, for the most part, responsible and respectful neighbors," said Tammy Kotula , public relations and promotions manager, Apartments.com. "However, more than 60% of the renters also said they faced some level of difficulty in finding accommodations for them and their pets. Fortunately, renters can tailor search results to only show apartments that allow their beloved furry friends on websites such as Apartments.com."

While nearly 65 percent of the pet owners surveyed said they live in a two bedroom apartment or larger, many indicated they were ambivalent to the size of their space when choosing a pet. In fact, more than 75 percent said the size of their apartment only played "some importance" to "no difference" when picking a pet.  The five most popular apartment pets among the pet owners surveyed are:

• Cat: 45%
• Small dog: 38%
• Medium dog: 21%
• Large dog: 19%
• Fish: 6%

Budget-savvy renters should plan for costs associated with living with pets, as 63 percent of pet owners indicated they are required to pay a pet deposit. In fact, a majority spend more than $150 annually in deposits and/or monthly fees. 

However, deposits and fees do not always cover every type of pet. Renters should be specific in clarifying what types of pets are allowed, as pet restrictions vary from one apartment building to another. In fact, only 28 percent of renters surveyed said they live in a building that has no restrictions on what type of pet they are allowed to have.

"Understandably, nearly all pet owners surveyed said pet policies play a major role in their decision of where to live. Clearly, pets are a deal breaker for many, and apartment buildings with more flexible pet policies will be the ones to attract this growing group of pet-owning renters, and possibly, keep them for a longer period of time," said Kotula.

The survey also reveals nearly seven out of 10 respondents adopted their pet from a rescue or shelter.  As part of this survey, Apartments.com committed to donating $1 for every survey response to North Shore Animal League America, the world's largest no-kill animal rescue and adoption organization.

"More than 1,100 pet owners shared valuable insights for the many renters searching for pet-friendly apartments. In appreciation of North Shore Animal League America's efforts to increase participation, Apartments.com is increasing its donation to $5,000, to help save the lives of as many animals as possible."

Landscape Spending to Increase for Hardscapes and Specialty Services in 2013, According to Survey Conducted by Harris Interactive for PLANET

HERNDON, Va -- A new U.S. online survey conducted by Harris Interactive on behalf of PLANET, the national trade association of landscape industry professionals, shows that consumers are looking to increase spending on hardscapes (outdoor kitchens, patios, decks, water features, and walkways) and other specialized services (irrigation and lighting). Hardscaping comprises outdoor living spaces and paved, non-living components of a landscape.

The study, conducted on behalf of PLANET in February 2013, surveyed 2,219 adults ages 18 and older, of whom 1,830 have a lawn or landscape. Consumers were asked about their spending on professional lawn and landscape services from lawn care and landscape maintenance to tree care, water features, and outdoor lighting.  

Overall Spending Trends
While overall consumer spending is expected to remain steady in most categories, landscape maintenance (mowing, edging, leaf cleanup) will see a modest increase in spending ($700 on average in the coming year[1] vs. $600[2] in the past year), while spending will increase to hire a professional for hardscapes and specialty services[3] ($2,300 on average in the coming year vs. $1,680 in the past year).

"Despite the sluggish economy, our core landscape maintenance services are holding steady, while consumers are deciding to increase their investment in projects that encourage 'staycations' and outdoor entertaining, and ultimately improve the resale value of the home," said PLANET CEO, Sabeena Hickman , CAE, CMP.

Who is spending the most on landscape services?
Men outpace women when it comes to hiring professional landscape help over the past year (39 percent vs. 32 percent), and younger adults, ages 18 to 34, stand out as most likely to have hired professionals for the building of outdoor living spaces, patios, and walkways over the past year (9 percent vs. 3 percent of those age 35+). 

In general, 35 percent of those with a lawn/landscape have hired professionals to do lawn and landscape services over the past year, with those in the South (38 percent) and West (40 percent) being more likely to have hired a professional than those in the Midwest (29 percent.)

Why do consumers find value in hiring landscape services?
The most often cited reasons for hiring a professional for lawn/landscape services[4] are as follows: "They don't have the knowledge, skills or physical ability" (42 percent), and "they don't have the right equipment" (42 percent) to do the landscape work themselves.  

Interestingly, younger adults (18 to 34) were more likely than their older counterparts to say "don't have the patience" as a reason to hire a professional.  

"Eighteen to 34 year olds might be more digitally connected than their parents, but they are still putting a high priority on outdoor entertainment areas. They are looking to landscape professionals to take on work that is not only time-consuming, but also requires a high degree of expertise to be done well," added Hickman.

For the full report visit, www.loveyourlandscape.com or contact lisaschaumann@landcarenetwork.org.

About the Survey

This survey was conducted online within the United States by Harris Interactive on behalf of PLANET from February 7 to 11, 2013, among 2,219 adults ages 18 and older, of whom 1,830 have a lawn/landscape. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact Lisa Schaumann at lisaschaumann@landcarenetwork.org.

About PLANET
PLANET, the Professional Landcare Network, is the national trade association representing more than 100,000 landscape industry professionals, who create and maintain healthy, green living spaces for communities across America. PLANET members are committed to the highest standards in industry education, best practices, and business professionalism. Many of PLANET's professionals have attained the status of becoming Landscape Industry Certified, achieving the greatest level of industry expertise and knowledge. Visit PLANET at www.landcarenetwork.org. 

Related Links

Landscape Survey and Tips

Bankrate: Mortgage Rates Flirting with Record Lows

NEW YORK -- Mortgage rates declined across the board, with the benchmark 30-year fixed mortgage rate falling to the second lowest level on record, 3.52 percent, according to Bankrate.com's weekly national survey. The average 30-year fixed mortgage has an average of 0.33 discount and origination points.

To see mortgage rates in your area, go to http://www.bankrate.com/funnel/mortgages/.

The average 15-year fixed mortgage set a new record low of 2.63 percent, and the same was true for the larger jumbo 30-year fixed mortgage rate which fell to 3.93 percent. Adjustable rate mortgages were also lower, with the 5-year and 10-year ARMs dropping to new lows of 2.63 percent and 3.15 percent, respectively.

Mortgage rates have fallen for seven consecutive weeks, to levels that are at, or near, record lows. With the Federal Reserve maintaining its current pace of bond-buying stimulus and even hinting that they could increase it should inflation move too low or economic growth stall out, there is every reason to believe that mortgage rates will remain at these ultra-low levels for some time. Mortgage rates are closely related to yields on long-term government and mortgage-backed bonds.

The last time mortgage rates were above 5 percent was Apr. 2011. At the time, the average 30-year fixed rate was 5.07 percent, meaning a $200,000 loan would have carried a monthly payment of $1,082.22. With the average rate currently at 3.52 percent, the monthly payment for the same size loan would be $900.32, a difference of $182 per month for anyone refinancing now.

SURVEY RESULTS

30-year fixed: 3.52% -- down from 3.57% last week (avg. points: 0.33)
15-year fixed: 2.75% -- down from 2.80% last week (avg. points: 0.30)
5/1 ARM: 2.63% -- down from 2.65% last week (avg. points: 0.24)

Bankrate's national weekly mortgage survey is conducted each Wednesday from data provided by the top 10 banks and thrifts in the top 10 markets.

For a full analysis of this week's move in mortgage rates, go to http://www.bankrate.com.

The survey is complemented by Bankrate's weekly Rate Trend Index, in which a panel of mortgage experts predicts which way the rates are headed over the next seven days. The majority of experts don't expect much change in mortgage rates over the coming week, with 58 percent forecasting that mortgage rates will remain more or less unchanged. Those predicting another decline (25 percent) only slightly outnumber those expecting an increase (17 percent).  

For the full mortgage Rate Trend Index, go to http://www.bankrate.com/RTI.

CoreLogic Reports 55,000 Completed Foreclosures in March

—Foreclosure Inventory Down 23 Percent Nationally Since March 2012—

IRVINE, Calif., CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its March National Foreclosure Report which provides data on completed U.S. foreclosures and the national foreclosure inventory. According to CoreLogic, there were 55,000 completed foreclosures in the U.S. in March 2013, down from 66,000 in March 2012, a year-over-year decrease of 16 percent. On a month-over-month basis, completed foreclosures rose from 52,000* in February 2013 to the March level of 55,000, an increase of 6 percent.

As a basis of comparison, prior to the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006. Completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 4.2 million completed foreclosures across the country.

Approximately 1.1 million homes in the U.S. were in some stage of foreclosure, known as the foreclosure inventory, as of March 2013 compared to 1.5 million in March 2012, a year-over-year decrease of 23 percent. Month over month, the foreclosure inventory was down 1.9 percent from February 2013 to March 2013. The foreclosure inventory as of March 2013 represented 2.8 percent of all homes with a mortgage compared to 3.5 percent in February 2013.

“In March, completed foreclosures were down 52 percent from the peak in 2010, and almost all of the top 100 major metropolitan areas have declining foreclosure rates,” said Dr. Mark Fleming, chief economist for CoreLogic. “The foreclosure rate nationally is down 23 percent relative to a year ago, signaling continued reduction in the stock of distressed assets.”

“For 17 consecutive months, foreclosures have declined year over year across the U.S,” said Anand Nallathambi, president and CEO of CoreLogic. “Although we still have more than a million homes in some stage of foreclosure, this trend, combined with rising home prices, is a another signal of a gradually improving housing market.”

Highlights as of March 2013:

• The five states with the highest number of completed foreclosures for the 12 months ending in March 2013 were: Florida (103,000), California (83,000), Michigan (70,000), Texas (53,000) and Georgia (48,000). These five states account for almost half of all completed foreclosures nationally.
• The five states with the lowest number of completed foreclosures for the 12 months ending in March 2013 were: South Dakota (81), District of Columbia (101), Hawaii (421), North Dakota (487) and West Virginia (554).
• The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: Florida (9.7 percent), New Jersey (7.3 percent), New York (5.0 percent), Maine (4.4 percent) and Illinois (4.4 percent).
• The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were: Wyoming (0.5 percent), Alaska (0.7 percent), North Dakota (0.7 percent), Nebraska (0.9 percent) and Montana (0.9 percent).

*February data was revised. Revisions are standard, and to ensure accuracy, CoreLogic incorporates newly released data to provide updated results.

Table 1: Judicial Foreclosure States Foreclosure Ranking (Ranked by Completed Foreclosures)

Table 2: Non-Judicial Foreclosure States Foreclosure Ranking (Ranked by Completed Foreclosures)

Table 3: Foreclosure Data for Select Large Core Based Statistical Areas (CBSAs) (Ranked by Completed Foreclosures)

Figure 1: Number of Mortgaged Homes per Completed Foreclosure
Judicial Foreclosure States vs. Non-Judicial Foreclosure States (three-month moving average)

Figure 2: Foreclosure Inventory as of February 2013
Judicial Foreclosure States vs. Non-Judicial Foreclosure States

Figure 3: Foreclosure Inventory by State Map