Worst Housing Markets in 2009

The downward spiral in housing markets is showing signs of improving in many areas of the country as home sales rise, but there’s no shortage of double-digit losers in the Worst 25 Housing Markets selected by Housing Predictor in 2009. Without more government assistance don’t expect much more improvement. Detroit, Michigan takes the #1 position… Continue reading Worst Housing Markets in 2009

Homeowners Insurance Costs Soar

Propelled by massive pay-outs as a direct result of hurricane damage, Florida has the highest homeowners insurance premiums in the nation, according to a new industry study. The rise in policy costs account for more than a 10% increase in annual premiums. Other states are also experiencing large rate hikes. “Most homeowners over-pay for insurance… Continue reading Homeowners Insurance Costs Soar

Winning in Real Estate Crisis

by Robert Jones Construction workers are re-tiling their bathrooms, real estate agents are taking jobs as waiters and waitresses, and mortgage brokers are sitting around watching TV. The collapse of the housing market has been brutal on just about everyone, it seems, with any connection to the industry. Well, almost everyone. Attorneys are busier than… Continue reading Winning in Real Estate Crisis

Sub Prime Loan Damage Limited

Hundreds and perhaps thousands of local real estate markets scattered throughout the U.S. are insulated from the sub-prime loan crisis and as a result are not suffering from fall out of the sub-prime fiasco, according to the latest Housing Predictor study. The sub-prime crisis is revealing itself to pale in comparison to the U.S. Savings… Continue reading Sub Prime Loan Damage Limited

States Rip Off Foreclosure Victims

By Mike Colpitts Almost $1-billion targeted to victims of banking foreclosure fraud is being ripped off from foreclosure victims to be used to pay for other programs for states facing serious financial deficits. The nation’s largest five banks agreed to pay a $25 billion settlement as part of their agreement to settle allegations of illegal… Continue reading States Rip Off Foreclosure Victims

Mortgage Delinquencies Drop Two Straight Months

By Mike Colpitts Mortgage delinquencies fell for the second consecutive month in July and are down 11% for the last year, signaling a major improvement for the U.S. housing market, according to Lender Processing Services. Loans that are 30 days or more past due made up just 7.03% of home mortgages. The decline in late… Continue reading Mortgage Delinquencies Drop Two Straight Months

Isaac Poses $36 Billion in Storm Damage

By Mike Colpitts As it roars toward the Gulf Coast to make landfall forecast to turn into a hurricane, tropical storm Isaac poses more than $36 billion in financial losses to the Gulf Coast, according to a real estate research firm. An estimated 269,081 homes and other residential properties in just seven major metropolitan areas… Continue reading Isaac Poses $36 Billion in Storm Damage

Home Sales & Prices Jump

By Mike Colpitts Sales of existing homes and national median prices jumped in July to reach a seasonally adjusted annual rate of 4.47 million housing units after declining in June, according to the National Association of Realtors. Record low mortgage rates, which bottomed out in July and lower housing prices coupled with pent up demand… Continue reading Home Sales & Prices Jump

Seismic Shift in U.S. Restrains Housing Market

By Kevin Chiu Consumer doubts over the banking system, political divisions in Washington, D.C., nagging high unemployment, a growth in the understanding among the U.S. population of political corruption and doubts about the economy are developing a seismic shift in the housing market. The shift has slowly been taking place for more than ten years,… Continue reading Seismic Shift in U.S. Restrains Housing Market

Declining Foreclosures Bring Better Times

By Mike Colpitts Foreclosure activity declined 25% in the nation’s most populated state, California from one year ago in July, but the Golden State holds the distinction of having more foreclosures than any other. In fact the two highest foreclosure states, which are California and Arizona, are down in foreclosure filings. Nevada, which had been… Continue reading Declining Foreclosures Bring Better Times