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Posts Tagged ‘news’

6 real estate headlines: 12-15

December 15, 2010 Leave a comment

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

America’s most stable housing markets
Forbes
: The picture may look bleak on the national and regional levels, but zoom in and there are plenty of cities where home prices are rising.
Tax appeals swamp U.S. towns as property values decline
BusinessWeek
: The backlog of cases from taxpayers seeking to lower property-tax bills of more than $100,000 rose to 14,236 this year from an annual average of about 6,000 during the past decade.
At least 3 more years of housing trouble
Reuters: The housing market will remain depressed, with record high foreclosure levels, rising mortgage rates and a glut of distressed properties dampening the market for years to come.
Borrowers wait for lower mortgage rates and lose
Forbes
: Now those in the market to buy or refinance have to decide whether to take what’s available or wait – and run the risk that rates will keep rising.
Using Google Maps to find foreclosures
The Atlantic: You can add foreclosures to the list of searches that Google excels at executing.  It’s both incredible and awful to see just how foreclosure continues to plague the U.S.
Home values tumble $1.7 trillion in 2010
CNN Money: This year’s drop in home values is 63% bigger than the $1 trillion dip in 2009, and brings the total value lost since the housing market’s peak in 2006 to a whopping $9 trillion.
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6 real estate headlines: 10-15

October 15, 2010 Leave a comment

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

Banks ignored signs of trouble on foreclosures
The New York Times
: As the furor grows over lenders' efforts to sidestep legal rules, these and other banks insist that they have been overwhelmed by the housing collapse.
Trying to chart the long road back
The New York Times
: Perhaps it should come as no surprise that after enduring the most brutal recession since the Great Depression, the US economy has emerged with a pronounced limp.
Mortgage bonds steady despite foreclosure flap�
Reuters: For now, however, investors are still buying the riskiest mortgage bonds that were issued by Wall Street firms through the height of the housing boom.
The short sale alternative
Wall Street Journal
: Short sales have become the norm in many hard-hit markets, representing roughly a third of properties for sale in Nevada, California and Florida, according to estimates.
Key Dem accuses banks of 'fraud' in home foreclosures
The Hill: Rep. Maxine Waters, a senior member of the House Financial Services Committee, suggested the recent epidemic of foreclosures are a result of collusion in the banking industry.
Mortgage refinancing requests climb 21 percent
Forbes: Overall applications rose 14.6 percent from a week earlier, driven by a 21 percent increase in applications to refinance home loans, the Mortgage Bankers Association said.

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6 real estate headlines: 10-14

October 14, 2010 Leave a comment

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

Despite freezes, U.S. foreclosure rate still up
Forbes:
Not only have the mortgage industry's actions been limited geographically, but banks mean different things when they say they're halting foreclosures.
Has the foreclosure crisis triggered a double dip?
CNBC
: The combination of still record default rates and rising servicing costs related to foreclosures is making banks hyper cautious about credit.
New tool to test home listings
The New York Times: The aim of the tool is to help spur more listings from sellers sitting on the sidelines as well as to spur more sales in general.
Maryland court weighing decision to halt foreclosures
Washington Times: Court officials are reviewing a request from Gov. Martin O'Malley and others to halt all foreclosures in the state for at least 60 days.
Businesses join to sell homeowners on value of green
Washington Post: By referring business leads among each other, they would be able to offer homeowners a comprehensive approach to lowering their energy and water usage.

What will the foreclosure gate do to home prices?
Business Insider: By stopping the flood of foreclosures onto the market, foreclosure-gate will reduce inventory-for-sale, which will likely act as a temporary positive for house prices.

http://twlv.net/EdycMS

6 real estate headlines: 9-22

September 22, 2010 Leave a comment

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

Miami-Dade pending home sales jump 33%
Miami Herald:
Pending home sales were up 33.7 percent in Miami-Dade County in August compared to the same month last year, according to data released Thursday by Miami Realtors.
Obama: Housing market faces tough decisions
Wall Street Journal
: Top members of Obama's economic team could soon be leaving, and he signaled he will press hard to raise taxes on wealthy hedge-fund and private-equity managers.
Buyers with hypersensitivity should raise concerns early
Washington Post: For people who are seriously allergic or sensitive to common household chemicals, buying the right home is fraught with difficulty.
Is that what recovery feels like?
The New York Times: The ugly fact is that serious financial crises take a very long time to resolve and result in a permanent fall in the standard of living.
The housing recession isn't over
CNN Money: The past three months may have been decent, but the future looks less promising. For the housing market, at least, it doesn't look like the recession is over just yet.

Great recession really over?
New York Observer: For housing to turn a decisive corner, the inventory overhang has to dissipate. That may take one to three years, according to real estate experts.

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6 real estate headlines: 9-20

September 20, 2010 Leave a comment

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

Average 30-year mortgage rate rises
USA Today:
Rates on 30-year mortgages climbed for the second week, but remain near the lowest level in decades, up from 4.35% a week earlier and 4.32% the previous week.
Where's the foreclosure flood?
Wall Street Journal
: The number of properties in the foreclosure or delinquency pipeline has grown to record highs, yet volumes of bank-owned properties have fallen steadily over the past year.
Banks hold off on foreclosure notices
CNBC: Banks are managing their owned inventory (REOs) by not flooding the market with all the properties they repossessed. They do this so as not to drive home prices down even further.
Losses from Frannie, Freddie seizures near $400B
Los Angeles Times: To offset some losses, the Federal Housing Finance Agency is seeking billions of dollars in repayment from banks that sold bad loans to the firms.
Why household wealth is expected to ebb
Wall Street Journal: Although the impact on spending can be hard to measure, falling wealth certainly doesn't help to shake the bunker mentality among U.S. households.

Americans get more sensible about housing
Reuters: Given that expectations for house-price appreciation are realistically modest, one can conclude that people buying houses today are doing so for pretty good reasons.

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6 real estate headlines: 9-16

September 16, 2010 Leave a comment

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

A new mortgage refinancing tool
The New York Times:
The tool compares a user's current loan with other refinancing options and bases its answer on real-time feeds about these loans' rates and costs.
25% of open-house goers don't plan to buy
Crain's
: And then there are those who have other reasons to attend open houses. Fully 11% of respondents said they came to pick up good decorating ideas.
Banks bounce back but can they handle the next crisis?
USA Today: Big banks are in much better shape than they were two years ago, but the issue of how to handle the collapse of another cross-border giant still shadows the global economy.
Charting the market: A bit of brighter news
Washington Times: Although sales activity has dropped significantly since spring, one housing statistic should be encouraging. Homes are selling more quickly than in recent years.
More sellers cut U.S. home prices for 3rd straight month
Reuters: Lingering job market weakness, a hefty supply of foreclosed homes and soft demand after the homebuyer tax credit ended in April kept buyers in the driver's seat in many markets.

College Park student housing meets resistance
Washington Examiner: A proposed development for more student housing is meeting heavy opposition from local officials who would rather entice more young professionals to the area.

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6 real estate headlines: 9-15

September 15, 2010 Leave a comment

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

D.C. housing market in recovery mode
REO Insider:
The average price of a Washington-area home was $398,445 in the second quarter of 2010, 4.2% higher than in the second quarter of 2009.
A downside of short sales
The New York Times
: But the jump in short sales has also given rise to a new form of fraud � which, as a recent study by CoreLogic suggests, could undermine the burgeoning practice.
Scope, cost of planned NW arts district questioned
Washington Post: But some people who stand to benefit from the new arts district said they worry that the area's size is daunting and that there is no specific plan.
The return of new condos in Alexandria
DC Urban Turf: One of the main draws for buyers may be the amenities, including a 25-meter lap pool, a sun deck, a private dog park, a fitness room and outdoor sports court.
Who's your agent looking out for?
Washington Post: Before you know it, the shopping process can become not-so casual — and you should get answers to some basic questions.
Silver Spring's contracting galaxies
DC Mud
: RST Development began excavation work on the site to make way for an apartment building that will soon rise just west of Georgia Avenue on the Silver Spring-Washington DC border.

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