Category: 2011 Housing Market

Actor Nicolas Cage Sells Estate at $9.5 Million Loss

By Kevin Chiu Movie actor Nicolas Cage sold his Middletown, Rhode Island estate at a loss of $9.5-million as the Oscar winning star of more than a dozen major box office hits suffers massive losses in the real estate collapse. Cage purchased the 27-acre estate for $15.7-million at the height of the real estate bubble… Continue reading Actor Nicolas Cage Sells Estate at $9.5 Million Loss

Refinances Tumble Sharply

By Kevin Chiu Mortgage applications for home refinances dropped sharply as homeowners waited out another tumble in mortgage interest rates, according to the Mortgage Bankers Association. Refinances had a drop of 10.1% from the previous week as homeowners held back from applying at the steepest level in nearly a year. Applications on new mortgage financing… Continue reading Refinances Tumble Sharply

Housing Recovery Clouded in Oil Prices

By Kevin Chiu The jump in oil prices and the likelihood for further financial belt-tightening suggest less economic momentum developing than previously believed in the U.S. in 2011 delaying a full-fledged housing recovery, according to an economic outlook released by Fannie Mae. Economic growth for the year was lowered to 3.5% — a down grade… Continue reading Housing Recovery Clouded in Oil Prices

Real Estate Investors Picking Up Deals

By Kim Olson The real estate industry is in a slump especially when it comes to homeowners who are trying to sell their own homes, but beginning this year the investment sector of the housing market showed a major upturn with 19% of residential purchases being made by investors, according to the National Association of… Continue reading Real Estate Investors Picking Up Deals

Mortgage Applications Rise Slightly

Mortgage applications for refinances and home purchases rose slightly for the week as the up and down spiral of the real estate recovery demonstrated its bumpy ride, according to the Mortgage Bankers Association. The leading index of mortgage applications in the U.S. moved a minor 2.7% higher during the week. The rise in applications came… Continue reading Mortgage Applications Rise Slightly

Homeowners Protest Paying Credit Cards Before Mortgages

By Mike Colpitts Homeowners are fed-up and they are protesting by the way they are paying their bills. A growing volume of homeowners are paying credit card bills before making payments on their mortgages, according to a new study by Trans Union credit reporting agency. It’s a trend that has been widely reported over the… Continue reading Homeowners Protest Paying Credit Cards Before Mortgages

Home Purchases Move Higher

By Kevin Chiu New home purchases moved higher for the week as indicated by an increase in mortgage applications, while refinances dropped, according to the Mortgage Bankers Association. The seasonally adjusted purchase index had a 6.7% rise to its highest level of the year as warmer spring time weather made it more comfortable for home… Continue reading Home Purchases Move Higher

Shadow Inventory Falls 200,000 Homes

By Mike Colpitts The inventory of U.S. homes that have not yet been foreclosed but are in financial jeopardy recognized as the shadow inventory has declined by 200,000, according to real estate research firm Core Logic. The current residential shadow inventory is 1.8-million units, which represents a nine months supply of inventory at present sales… Continue reading Shadow Inventory Falls 200,000 Homes

Questions to Ask on Refinancing a Mortgage

If you are thinking about refinancing your existing mortgage, you may be wondering what refinancing questions to ask your mortgage lender. While there are a number of questions to ask when refinancing, there are a few points you will want to be perfectly clear on before committing to a refinance. Knowing what to ask when… Continue reading Questions to Ask on Refinancing a Mortgage