TheMReport

August 2012

TheMReport — News and strategies for the evolving mortgage marketplace.

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P ositive trends were prevalent in CoreLogic's most recent Home Price Index, which showed strength following three consecu- tive months of pricing increases on both a year-over-year and month-over-month basis. Nationally, CoreLogic is now calling for the continuation of elevated prices, predicting an ongoing rise for the company's HPI. Mark Fleming, CoreLogic's chief economist, said of the current numbers, "Home price ap- preciation in the lower-priced segment of the market is rebounding more quickly than in the upper end. Home prices below 75 percent of the national median increased 5.7 percent from a year ago, compared to only a 1.8 per- cent increase for prices 125 percent or more of the median." CoreLogic's president and CEO, Anand Nallathambi, was also optimistic, noting, "The recent upward trend in U.S. home prices is an encouraging signal that we may be seeing a bottoming of the housing down cycle." WEST VIRGINIA Including Distressed: Appreciation Ranking: 6 Single-Family Pricing [y-o-y change]: +7.5% Excluding Distressed: Appreciation Ranking: 24 Single-Family Pricing [y-o-y change]: +1.5% Hot Property: Historic farmhouse and cattle ranch in Martinsburg, West Virginia; 590 Carlyle. Sitting on 85 acres, the home, which was built in 1900, features heated floors, game rooms, and a chef's kitchen in 4,282 square feet. Additionally, the estate functions as a working cattle farm, and related infrastructure includes barns and custom fencing. Shop the listing for $2.965 million. WYOMING Including Distressed: Appreciation Ranking: 7 Single-Family Pricing [y-o-y change]: +7.1% Excluding Distressed: Appreciation Ranking: 5 Single-Family Pricing [y-o-y change]: +6.6% Hot Property: Rustically elegant home by architect Jonathan Foote in Teton Village, Wyoming. Positioned at the base of Jackson Hole's mountain resort, the estate includes 10.63 acres appointed with streams and lush gardens. The 23,000-square-foot pad includes a 12-seat theater, professional's gym, and 4,000-bottle wine cellar and is only minutes from the city's main gondola. The luxury family property is on the market for $29.5 million. DISTRICT OF COLUMBIA Including Distressed: Appreciation Ranking: 8 Single-Family Pricing [y-o-y change]: +6.7% Excluding Distressed: Appreciation Ranking: 8 Single-Family Pricing [y-o-y change]: +5.3% Hot Property: Classically appointed home overlooking Washington, D.C.'s, Battery Kemble Park; 3010 Chain Bridge Road N.W. For aspiring politicos, the property has must-haves for entertainers including a ballroom, 20-person dining room, and detached guest quarters. The 15,648-square-foot house, situated in the city's Wesley Heights neighborhood, is now on the market for $16.125 million. UTAH Including Distressed: Appreciation Ranking: 9 Single-Family Pricing [y-o-y change]: +5.7% Excluding Distressed: Appreciation Ranking: 6 Single-Family Pricing [y-o-y change]: +5.9% Hot Property: Modern, resort-inspired property featuring 60 acres of land in Upper Deer Valley; 5000 Royal St. The 22,000-square-foot home has over-the-top features such as an indoor pool, fitness center, and 22-car garage, and the included acreage can be kept for privacy or subdivided as desired. The estate is being sold fully furnished and is known as the "crown jewel" of Park City's Deer Valley resort; the listing carries a $44 million price tag. COLORADO Including Distressed: Appreciation Ranking: 10 Single-Family Pricing [y-o-y change]: +5.7% Excluding Distressed: Appreciation Ranking: 9 Single-Family Pricing [y-o-y change]: +4.6% Hot Property: Luxury cabin living in sought-after Aspen, Colorado; 411 Willoughby Way. The 8,597-square-foot house also includes 1,430 square feet of outdoor living space, and the property was designed by architect Bill Poss and interiors guru Zoe Compton. The home sits on nearly two acres, and the estate is on the market for $19.95 million. THE M REPORT | 13

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