Category: 2011 Housing Market

Should U.S. Become Biggest Landlord

By Mike Colpitts Under a proposal the Obama administration is making, the U.S. federal government would become the nation’s biggest landlord by renting out almost 250,000 foreclosed homes Freddie Mac, Fannie Mae and the Federal Housing Administration currently own. The proposal could make the Federal Housing Finance Agency, started by the Obama administration to administer… Continue reading Should U.S. Become Biggest Landlord

Market May Lead Home Prices in Recovery

By Mike Colpitts Home and condominium prices soared higher for the first time in more than five years in Miami as existing sales in the metropolitan region rose at a rapid pace in July, according to the Miami Association of Realtors. The spike in average home prices may signal a major turn around for the… Continue reading Market May Lead Home Prices in Recovery

S&P Downgrade Shakes Confidence in Housing Market

The Standard and Poor’s U.S. credit downgrade seriously shakes the confidence that a recovery in the U.S. housing market will develop anytime soon, according to a new Housing Predictor poll. More than 2 out of 3 respondents or 67% said that the S&P downgrade shakes their confidence that a recovery in the housing market will… Continue reading S&P Downgrade Shakes Confidence in Housing Market

Fannie Mae & Freddie Mac Own Almost 200,000 Foreclosures

By Kevin Chiu Giant U.S. mortgage lenders Fannie Mae and Freddie Mac own nearly 200,000 single family homes in their bloated inventories of foreclosed properties, according to a review of the government sponsored enterprises. The nation’s largest lenders, which were originally started as a way to purchase mortgages and then re-sell them as securities on… Continue reading Fannie Mae & Freddie Mac Own Almost 200,000 Foreclosures

Low Mortgage Rates Drive Few to Buy

By Mike Colpitts Mortgage rates are at near record lows again for the first time since last October when rates hit an all-time record low, but the lower rates seem to be doing little other than driving some homeowners to refinance their mortgages. Built up anxiety over troubles with the U. S. economy, consumer debt… Continue reading Low Mortgage Rates Drive Few to Buy

Mortgage Delinquencies Rise as Foreclosures Drop

By Mike Colpitts Mortgage delinquencies increased during the second quarter of the year, but formal foreclosures saw a drop as a result of banking legal issues, problems related to the robo-signing scandal and other troubles, according to the Mortgage Bankers Association. Default rates on mortgages covering one-to-four unit residential properties rose to 8.44% on outstanding… Continue reading Mortgage Delinquencies Rise as Foreclosures Drop

Real Estate Mortgage Tax Deduction in Jeopardy

By Kevin Chiu Bet you didn’t realize that the mortgage tax deduction is in real jeopardy as a result of Congress pushing through their last minute agreement on the budget? It’s been a quiet little secret in Washington, D.C. real estate circles because elected officials have taken so much heat on the subject. Some think… Continue reading Real Estate Mortgage Tax Deduction in Jeopardy

Home Sales Decline to Year Low

By Kevin Chiu Home sales declined for the third time in four months in July, falling to a new low for the year, indicating that what most real estate analysts have been saying for months is coming true—that the housing market is in for a long protracted recovery. Existing home sales fell 3.5% for the… Continue reading Home Sales Decline to Year Low

Foreclosure Rates Finally Fall

By Mike Colpitts Legal foreclosure filings, including default notices, bank repossessions and scheduled auctions fell for the tenth straight month in July, but the market showed a major difference in the type of slowdown, according to Realty Trac. The string of declines was initially caused by the robo signing scandal, but the downturn has transformed… Continue reading Foreclosure Rates Finally Fall