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Survey Evidence Concerning The Current Strength Of The U.S. Commercial And Residential Real Estate Markets!

Written by Posted On Wednesday, 27 January 2016 09:17

Each month Zelman and Assoc. conducts a Title Agent Survey that asks a variety of questions concerning month over month deal flow!

This deal flow covers new commercial and residential orders that entered the pipeline, commercial and residential closings conducted as well as answers to specific and timely questions concerning issues specific to the closing process (this month the questions concerns TRID).

As Hallmark Abstract Service is one of the firms that has been asked by Zelman and Associates to participate, it is my pleasure to share the results here...

December 2015 Zelman Title Agent Survey Preliminary Results  

-       Residential Purchase Orders: Agent Closed Orders Increase 11% in December, Outperforming First American After Lagging in November

o    Agent closed purchase orders increased 11% year over year in December versus a 6% increase for First American, the only publicly-traded title insurer that discloses intra-quarter monthly order flow.

o    Agent opened orders increased 10% year over year versus a 7% decline for First American.

-       Residential Refinance Orders: Agent Closings Decrease 18% Year Over Year

o    Year-over-year refinance performance

§  Agent closed orders decreased 18% year over year in December versus a 6% decline for First American.

§  Agent opened orders increased 26% year over year versus flat performance for First American.

o    Sequential refinance performance

§  Agent closed orders increased 39% sequentially versus a 25% increase for First American.

§  Agent opened orders increased 14% sequentially versus a 9% increase for First American.

Read the rest of the article at LinkedIn here.

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Michael Haltman

Hallmark Abstract Service provides title insurance for both residential and commercial real estate transactions in New York State.

Hallmark Abstract President Michael Haltman is also extremely involved with the combat veterans 501(c)(3) Heroes To Heroes Foundation, serving as the Board Chair.

Hallmark Abstract Service

In 2008 we opened our doors focused on two primary goals:

Number one was to be a title insurance company that would provide clients with a superior finished product that completely protects their interests for what will likely be one of the largest transactions of their lifetime.

Number two was to insure that the experience of working with Hallmark Abstract Service was as easy and seamless as possible for all parties involved in the transaction!

From the number of satisfied clients who come back to Hallmark Abstract Service time after time for their title insurance needs, the evidence bears out that we have accomplished these two goals in the past and will maintain our client centric focus far into the future!

Michael Haltman

Post 1984 MBA in Finance from the State University of New York at Albany that concentrated on the tax-exempt market, Michael became a municipal bond analyst at Shearson/Lehman Brothers tasked with following general obligation issuers on the city and state level as well as housing bonds secured by mortgage pools.

This experience at Shearson/Lehman Brothers followed by stints at PaineWebber and Citigroup provided a broad framework and understanding of the real estate and mortgage markets.

As CEO of Exeter Commercial which underwrote and funded commercial mortgage loans as a correspondent lender, title insurance played a critical role in both the underwriting and closing process.

In 2008 recognizing both an opportunity and need, Hallmark Abstract Service was born.

www.hallmarkabstractllc.com

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