Category: 2011 Housing Market

Underwater Mortgages Drop Slightly

By Mike Colpitts Homeowners with underwater mortgages or those who owe more on their homes than their properties are currently worth dropped in the third quarter in the U.S., according to real estate data firm CoreLogic. The decline, however, was marginal falling to 10.7-million residential homeowners, which is 200,000 less than the second quarter of… Continue reading Underwater Mortgages Drop Slightly

Mortgages Drop As Homeowners Await New Refinancing Program

By Kevin Chiu Mortgage applications dropped for the third straight week as homeowners waited for the new Obama administration refinancing program to go into effect, according to the Mortgage Bankers Association. Applications slowed by nearly 12% from one week earlier. The drop-off in activity was also led by a slowdown caused by the Thanksgiving Holiday,… Continue reading Mortgages Drop As Homeowners Await New Refinancing Program

Cash is King in Current Real Estate Market

By Miike Colpitts As investors attempt to capitalize on the current state of the economy and snap up bargain priced deals in the real estate market, all cash sales are soaring and account for almost one in three residential transactions. Cash is king. Bargain hungry investors have been looking for cheaply priced housing to pay… Continue reading Cash is King in Current Real Estate Market

Homeowner Insurance Guide

By Erika Stewart Home insurance is important to insure that property is protected in the event of emergencies like natural disasters, fires, and even over liability issues like a friend or visitor falling and hurting themselves. Having homeowner insurance protects not only the home but its occupants and their possessions. However, not all home insurance… Continue reading Homeowner Insurance Guide

Baseball’s Manny Ramirez Finally Sells Penthouse

By Kevin Chiu Exiled ex-baseball star Manny Ramirez has finally sold his Boston penthouse for a major loss after trying to sell the place more than six years, which just might be close to a record for any other earth-bound homeowner. The former baseball slugger finally quit the big leagues in disgrace after being busted… Continue reading Baseball’s Manny Ramirez Finally Sells Penthouse

Home Purchases for Low Mortgage Rates Jump

By Mike Colpitts Home purchase mortgage applications jumped as a result of the second lowest mortgage rates on record, but overall home loan activity barely budged last week as applications slowed by a thin margin (1.2%), according to the Mortgage Bankers Association. The jump in mortgage buying activity for home purchases, however, is a positive… Continue reading Home Purchases for Low Mortgage Rates Jump

Mortgage Rates Drop as Adjustables Hit New Lows

By Kevin Chiu Mortgage rates dropped on popular fixed rate loans and hit a new low on adjustable rate mortgages, according to Freddie Mac. The drop in rates sent the 30-year fixed rate average at or below 4% for the fourth straight week. The loan averaged 3.98%, slipping two basis points from last week, according… Continue reading Mortgage Rates Drop as Adjustables Hit New Lows

Homeowners Opt to Buy Appraisals

By Mike Colpitts Homeowners are buying independent appraisals as they prepare to place their homes on the market for sale in growing numbers, attempting to determine the real value of their homes. The move is growing momentum as transactions on existing home sales fail at increasing rates. One out of three sales contracted during the… Continue reading Homeowners Opt to Buy Appraisals

Survey Reveals Banks Should Cut Mortgages

Homeowners in desperate need of help should have their mortgages cut by banks and mortgage lenders in an effort to aid the U.S. economy, and slow the rate of foreclosures. That’s the finding from a new Housing Predictor survey, which found that a large majority feel that the same banks that got the U.S. into… Continue reading Survey Reveals Banks Should Cut Mortgages