A new CoreLogic study has determined that there are substantial reserves of positive home equity nationwide, citing recent Federal Reserve data showing that Americans held about $6.2 trillion in equity in their homes at the end of the 2011 second quarter. Federal and industry estimates also reveal that nearly one of every three homes is debt-free. According to CoreLogic, nearly half of homeowners with home loans have at least 25 percent equity and almost a quarter have more than 50 percent equity. Source: Worcester Telegram & Gazette

The Appraisal Institute recently released a form to help appraisers factor in energy-efficient home features when valuing homes. The forms can also be used by real estate agents in describing “green” properties on the MLS, the Appraisal Institute notes. Everything from a home owners’ energy efficient appliances to solar panels may now get more attention from appraisals with the added form. The new form allows appraisers to identify and describe a home’s green features. It will serve as an optional addendum to Fannie Mae Form 1004, which is the appraisal industry’s most commonly used form for home loan purposes, used by Fannie Mae, Freddie Mac, and the Federal Housing Administration. “We hope lenders, home builders, real estate agents, and home owners will take advantage of this new tool,” Joseph C. Magdziarz, president of the Appraisal Institute, said in a statement. “Lenders who want to see energy features analyzed should request the green addendum to be included with Form 1004. We also encourage lenders to provide the green addendum to home owners so they can fill it out and provide it to their appraiser. If a new home is being appraised, home builders can use the addendum to provide data to appraisers. Real estate agents also can use the data to help populate the MLS.” Source: RIS Media

New job opportunities have more people on the move, according to a survey by Apartments.com conducted to gauge its Web site visitors’ 2011 moving plans. While new job opportunities have more residents relocating, more current home owners are also entering the rental market, which is a growing trend, the survey finds. Here are some of the survey’s findings:

• Reasons for moving. The most popular reason for moving was because of employment opportunities: 28.8 percent survey respondents said they were relocating for a job, compared to 10.4 percent who moved for job opportunities the previous year.
• Growing trend. More current home owners and first-time renters are entering the rental market, according to the survey. More than 20 percent of the survey’s respondents who are looking for an apartment this year said they are current home owners—32 percent of whom are also first-time renters.
• Planning ahead. Many of the survey’s respondents said they are apartment shopping now for a move that will not take place until much later in the year. Indeed, nearly 20 percent of respondents are starting their apartment search three to four months in advance and nearly a quarter are looking five months to more than a year out.

"It’s a good idea to lock into a lease right now," says Chris Brown, vice president of product management for Apartments.com. "Many management companies have announced rent increases. As vacancy rates continue to drop and the rental market improves, we expect to see the upward trend grow. Deals can still be had, but they’re getting harder to find.” Source: PRNewswire.com

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