By Mike Colpitts Home remodeling is out-pacing home purchases as homeowners plan on staying put longer than they have in past years, according to a new poll by the National Association of Remodeling Industry organization. An over-whelming number of respondents to the poll said they plan on staying in their current homes at least five… Continue reading Home Remodeling Out Paces Purchases
Category: 2012 Housing Market
Recovery Pushes Foreclosures Lower 3 Months
By Mike Colpitts In a sign the U.S. housing market is on the road to recovery, foreclosures dropped for the third month in a row in April, despite a traceable increase in repossessions along the eastern U.S. coast. Initial notices of default were filed against 188,780 residential properties, the lowest since July 2007. Final bank… Continue reading Recovery Pushes Foreclosures Lower 3 Months
Vacation Home Sales Surge
By Mike Colpitts Vacation home sales are climbing for the first time since the real estate collapse. In some cases, condominium prices are also soaring in some of the largest second home markets in the U.S., including once hard hit Miami and Las Vegas, where cash buyers make up the majority of purchases. The surge… Continue reading Vacation Home Sales Surge
2012 Oregon Housing Market
Oregon´s real estate market is projected to slightly underperform throughout 2013 compared to the United States in general. By the end of the year, Oregon home prices are expected to dip 0.95 percent. That´s compared an average increase of 0.17 percent in U.S. home prices. Meanwhile, Arizona´s home prices are expected to increase the most… Continue reading 2012 Oregon Housing Market
US Economic Fear Sends Mortgage Rates Lower
By Mike Colpitts Fear over the U.S. economy and European debt woes sent mortgage rates to all-time record low levels this week as the benchmark 30-year fixed rate loan hit 3.84%. The previous record low was set in early February at 3.87%, according to Freddie Mac. Growing fears over the health of the economy sent… Continue reading US Economic Fear Sends Mortgage Rates Lower
Mortgage Banker Pleads Guilty in $6.5 Million Scheme
By Ryan Jackson When the housing market collapsed hundreds of thousands of mortgage and real estate agents who made their livings in real estate suffered, losing incomes, and many have been foreclosed as a result of the collapse. But one Florida mortgage banker admits to leading a criminal conspiracy to defraud HUD out of more… Continue reading Mortgage Banker Pleads Guilty in $6.5 Million Scheme
Florida Capital Named Baby Boomers Favorite
The capital of Florida has been named the favorite U.S. city for baby boomers to retire by a Washington based economics research group. Tallahassee, Florida won out over 20 other cities considered for the prestigious award as the ideal place to retire. The southern city was selected after researchers considered a combination of factors, including… Continue reading Florida Capital Named Baby Boomers Favorite
Freddie Mac Fails at Mortgage Modifications
By Mike Colpitts One of the nation’s giant mortgage lenders, Freddie Mac provided only 4,308 mortgage modifications during the month of March in the U.S., and 13,677 for the first three months of the year, according to public figures provided by the lender. The weak volume of mortgage modifications would get the government backed lender… Continue reading Freddie Mac Fails at Mortgage Modifications
$25 Billion Bank Monitor Hires Accountants
By Ryan Jackson The monitor appointed to oversee the banks $25 billion settlement with 49 state attorney generals in the robo-signing scandal has hired six accounting firms to help monitor the agreement. Forty-nine states reached an agreement with the nation’s five largest banks in February over the forged signings of millions of foreclosure documents involved… Continue reading $25 Billion Bank Monitor Hires Accountants
Kiddie Home Purchases Jump
By Mike Colpitts A tight mortgage market has triggered a jump in parents, grandparents and other relatives helping younger home buyers qualify for a home loan. Baby boomer parents have helped a son or daughter to purchase a home by co-signing for a mortgage, supplying down payments or purchasing a home outright in 20% of… Continue reading Kiddie Home Purchases Jump