By Lois A. Vitt, Ph.D. Reasons for investing in rental housing include opportunities to make a profit, tax advantages to write-off mortgages and income from rents. So why not make the decision to buy more than one home—perhaps two, three, or even more? If you have what it takes to invest in and manage rental… Continue reading Investing in Rental Housing
Category: Economic Crisis
Pending Home Sales Rise as Mortgage Rates Fall
Demonstrating that markets make erratic movements even in the midst of a decline, pending home sales rose slightly in July over June, according to the National Association of Realtors, while mortgage rates continued their downward slide. A 30-year fixed rate mortgage declined to 4.32% down .04% from a week ago, according to Freddie Mac. Pending… Continue reading Pending Home Sales Rise as Mortgage Rates Fall
Low Rate Mortgage Lock Out
By Kevin Chiu Mortgage rates hit 4.42% for a 30-year fixed rate mortgage, the lowest on record. But a growing number of homeowners are ignoring the lower rates locked out from obtaining them due to more restrictive mortgage underwriting guidelines. The new lower rates may make great headlines and TV news fodder but they’re doing… Continue reading Low Rate Mortgage Lock Out
Housing Wars Not Paying the Mortgage
By Kevin Chiu It’s a new kind of war as homeowners battle with the bank. Call it the housing war, and it rocks at the emotions of the rich and poor alike. Triggered by the financial crisis, banks and mortgage lenders can’t keep up with the back log of mortgage holders in default, battling to… Continue reading Housing Wars Not Paying the Mortgage
Foreclosure Crisis Aided by Company
By Mike Colpitts A New Jersey company has introduced a real estate investment program that’s helping to solve America’s foreclosure crisis, selling low priced older homes to investors that net as much as 16% in profit a month. First Fidelity Homes of Teaneck, New Jersey purchases homes from banks and mortgage companies in bulk, and… Continue reading Foreclosure Crisis Aided by Company
Gulf Oil Spill to Drop Homes Only 10%
By Mike Colpitts Gulf coast homes and condos on the immediate coastline in the path of the BP oil spill in Alabama and Florida will suffer only a 10% drop in average values as a result of the oil disaster, according to a new Housing Predictor forecast compiled after more than three months of research.… Continue reading Gulf Oil Spill to Drop Homes Only 10%
Waking Up to the Economic Depression
By Mike Colpitts It’s been almost three years since Housing Predictor forecast an economic depression in August, 2007 as a result of the real estate collapse and what we collectively called then a credit crisis. Nobel Laureate Paul Krugman is the latest to sound the bell, writing that we are in the beginning of another… Continue reading Waking Up to the Economic Depression
Mortgage Rates Hit All-Time Low
Mortgage rates to purchase or refinance a home hit their lowest level of all-time this last week just as home sales showed signs of slowing as a result of the federal home buyers tax credit expiring. The rate for a 30 year conventional mortgage slipped to 4.69%, the lowest rate on record. Interest rates are… Continue reading Mortgage Rates Hit All-Time Low
Florida under Siege by BP Oil Spill
By Mike Colpitts Resting on star power and little government regulation of the oil industry over the last two decades, the BP oil spill is likely to provide a one-two-punch to Florida’s ailing economy, pulling real estate prices down further, decimating their already bargain rate prices. Florida is under siege. The greatest environmental disaster in… Continue reading Florida under Siege by BP Oil Spill
Banks Won’t Help Fannie Mae and Freddie Mac
By Mike Colpitts Fixing the nation’s giant mortgage lenders, troubled Fannie Mae and Freddie Mac, might take an act of Congress, but one of the mortgage industry’s chief lobbying groups says private banks won’t help the housing market. “A private model would be unable to attract the depth and breadth of capital needed to fund… Continue reading Banks Won’t Help Fannie Mae and Freddie Mac