Category: Credit

Neither Best nor Worst in California

By Mike Colpitts Long viewed as the national leader in real estate and hundreds of other dizzying trends and fads, California neither made the annual Best or Worst 25 Housing Predictor market lists for 2011. It was the first time in the index’s six year history that a Golden State market failed to make the… Continue reading Neither Best nor Worst in California

Pent Up Real Estate Demand Waits

By Kevin Chiu Pent up demand among consumers waiting on the sidelines to buy a home is something that real estate analysts aren’t counting on much these days as consumer confidence over the U.S. economy wanes. The housing sector of the real estate market was artificially sent to new heights by a concoction of mixtures… Continue reading Pent Up Real Estate Demand Waits

Don’t Burn Down Your House on Thanksgiving

Deep fried turkey fires will cause more than $15 million in property damage to homes and other dwellings from deep fryers that get wildly out of control across the U.S. this Thanksgiving, according to the National Fire Protection Association. The fires, ignited by deep fried turkey cookers of hot oil that quickly get out of… Continue reading Don’t Burn Down Your House on Thanksgiving

Poll: Prices Won’t Go As High Again

Home prices are doomed, according to nearly 2 out of 3 people surveyed for the latest Housing Predictor poll. Some 60% said that housing prices won’t ever reach as high as they did during the boom or not at least “in my lifetime.” The survey is disappointing news for homeowners who are anxious to see… Continue reading Poll: Prices Won’t Go As High Again

Housing Affordability Best in Years

By Mike Colpitts Housing affordability is at its best level for the seventh straight quarter in decades, according to the National Association of Home Builders-Wells Fargo index. The lowest mortgage rates since 1951 triggered an increase in home sales. The index showed that 71.1% of all homes sold in the third quarter of the year… Continue reading Housing Affordability Best in Years

Las Vegas Realtors Warn of Short Sale Fraudsters

In Las Vegas, where foreclosures are running at some of the highest levels in the U.S. many real estate agents are calling themselves short sale experts in an effort to gain business in a bitter battle to survive, but many have little or no experience at selling homes for less than what is owed on… Continue reading Las Vegas Realtors Warn of Short Sale Fraudsters

Mortgage Rates Jump Much Higher

By Kevin Chiu Mortgage rates jumped for the first time in eight weeks with the rate on a 30-year fixed rate mortgage rising by a large margin. A 30-year mortgage went for 4.17% on average a week ago and surged to 4.39% this week, according to Freddie Mac. The rate on a 15-year fixed rate… Continue reading Mortgage Rates Jump Much Higher

Robo-Signing Shows Illegal Bank Practices

The robo-signing foreclosure scandal has exposed illegal bank practices by servicing companies on mortgages, and also shows the urgent need to reform a banking system that is broken and plagued with abuses, unnecessarily pushing homeowners into foreclosure, a top consumer’s advocate told a Congressional panel. “The lack of restraint on servicer abuses has created a… Continue reading Robo-Signing Shows Illegal Bank Practices

Mortgage Rates Rise as Applications Fall

By Kevin Chiu Mortgage applications fell by a huge volume for the week as rates on home mortgages climbed demonstrating that foreclosure moratoriums put in place by major lenders are having an impact on the housing market, according to the Mortgage Bankers Association. Applications dropped 14.4% on an adjusted basis from a week earlier. Refinancing… Continue reading Mortgage Rates Rise as Applications Fall