Category: 2011 Housing Market

Home Buyers Making Multiple Offers

By Kevin Chiu Home buyers are making multiple offers to purchase homes that are short sales in rising numbers as they grow impatient with the drawn out short sale process with banks, and mortgage servicing companies. The long waits and other obstacles have taken the excitement out of the home buying experience for first time… Continue reading Home Buyers Making Multiple Offers

Hawaii Condos Go to Auction

Forty new Hawaii condominiums are being auctioned-off to the highest bidder featuring cozy lanais built to capture the cool cross wind breezes of Hawaii. The Kona Island condos are being auctioned with bids starting as low as $99,000, which would be a major steal for a vacation home in the Aloha State. The two-bedroom, two-bathroom… Continue reading Hawaii Condos Go to Auction

Mortgage Defaults Edge Up in August

Mortgage defaults were filed for the first time against the largest number of homeowners in more than four years in August as foreclosures surged higher for the month, according to RealtyTrac. Foreclosure auctions and formal lender repossessions were filed against 228,098 homes during the month. The figure represented a 7% surge in lender takeovers for… Continue reading Mortgage Defaults Edge Up in August

Occupy Wall Street Protests Catch On

By Mike Colpitts In the midst of the toughest economy since at least the Great Depression, most Americans are just trying to hang on – pay their bills, the mortgage, hold on to their jobs or find new employment. The Occupy Wall Street movement that started outside of the New York Stock Exchange on Wall… Continue reading Occupy Wall Street Protests Catch On

Home Sales Soar 7.7% in August

By Mike Colpitts Home sales soared by lucky numbers in August, rising 7.7% to a seasonally adjusted annual rate of 5.03 million units, despite a tough economy, according to the National Association of Realtors. The jump in existing sales is a positive sign for the economy, which has been battling to recover from its downturn.… Continue reading Home Sales Soar 7.7% in August

Mortgage Rates Massive Record Drop

By Mike Colpitts Mortgage rates dropped to the lowest rate in U.S. recorded history this week on the heels of the Federal Reserve announcement that the Fed will buy additional mortgage-backed securities. The massive drop in rates rocketed the average 30-year fixed rate mortgage to 4.01%, and the shorter term fixed rate loan to another… Continue reading Mortgage Rates Massive Record Drop

Mortgage Originations Surge on Record Low Rates

By Mike Colpitts Driven by the lowest interest rates in U.S. history, mortgage originations soared for the third straight week as loan buyers moved to take advantage of lower mortgage rates. Loan applications jumped 9.3% last week, according to the Mortgage Bankers Association. Refinances saw the largest surge in mortgage applications, rising 11.2% for the… Continue reading Mortgage Originations Surge on Record Low Rates

Likely Failure in Robo-Signing Talks

By Mike Colpitts Talks between State Attorney Generals in Washington, D.C. and representatives of the Obama administration have yet to provide a settlement for the robo-signing scandal, and many of President Barack Obama’s critics expect that any agreement with bankers will be a sellout of mammoth proportions. Negotiations between the U.S. Justice Department and the… Continue reading Likely Failure in Robo-Signing Talks

Supermodel Christie Brinkley Sells Home

Christie Brinkley has graced the cover of over 500 magazines over the years, raking in millions of dollars in modeling fees as one of the world’s most sought after supermodels. And now as luxury home sales make inroads towards a recovery, Brinkley has placed her spacious Sag Harbor, New York estate on the market for… Continue reading Supermodel Christie Brinkley Sells Home