Upgrade in U.S. Housing Forecast

High unemployment is the biggest obstacle to the U.S. housing markets recovery as fewer people qualify to buy homes, but the imposing obstruction is being helped by a series of government programs and a private company working with some of the nation’s biggest mortgage lenders to keep homeowners in their homes. As a result, Housing… Continue reading Upgrade in U.S. Housing Forecast

Home Prices Forecast to Deflate More

Anchored by severe headwinds, including high unemployment, lack of equity in real estate, rising foreclosures, a tight mortgage market and the expiration of government programs home prices in the majority of U.S. markets will deflate more in 2010, according to the latest national forecast by Housing Predictor. The average price of a home is now… Continue reading Home Prices Forecast to Deflate More

No Hurry for Those at Risk of Foreclosure

Senator Jack Reed D-Rhode Island Senator Dick Durbin D-Illinois Senator Sheldon Whitehouse D-Rhode Island No Hurry for Those at Risk of Foreclosure By Mike Colpitts Two months after the proposal to force bankers to work with homeowners at risk of foreclosure was introduced in Congress the bill is bogged down in committee. A House Financial… Continue reading No Hurry for Those at Risk of Foreclosure

Housing Recovery on the Way

Powered by the highest number of home sales in more than two years, the housing market appears to be on the road to recovery – at least to some consumers. First time buyers pushed to close purchases before the looming government deadline expired for an $8,000 tax credit. Rock bottom priced triggered a flood of… Continue reading Housing Recovery on the Way

Forty-Eight States in Taxing Turmoil

Forty-eight of all 50 U.S. states are in economic turmoil as a result of the housing bust and the financial crisis. States have laid-off employees, slashed budgets and cut back on services, including schools and emergency services such as police and fire department personnel. “Forty-eight states are in budget crisis,” according to New York Governor… Continue reading Forty-Eight States in Taxing Turmoil

Market Bottom: They Just Don’t Get It!

By John Hines Economist The bottom of the real estate market is a fleeting place that has seen the initial stages of recovery tease markets in the worst hit areas of the country, including California, Florida and Nevada. As home sales rise, bankers hold off on making foreclosures and keep lending standards so high that… Continue reading Market Bottom: They Just Don’t Get It!

Foreclosures Dip Slightly

Recorded foreclosure notices saw a 3% dip in the last month nationally, but are still up nearly a fifth from year ago levels, according to the latest RealtyTrac monthly report. There were 332,292 notices of default, foreclosure auctions and bank repossessions filed during October. The figure represents a three month consecutive decline in foreclosure notice… Continue reading Foreclosures Dip Slightly

Private Bankers Gaining Ground

By Kevin Chiu Blamed for selling mortgages to anyone who could sign their name during the real estate boom, the majority of mortgage brokers have been forced out of business and now only originate a small percentage of home loans. However, private mortgage bankers are filling the opening in the marketplace. Leery of increasing bad… Continue reading Private Bankers Gaining Ground

Homeowner Dreams on Hold

By Sharon Williams Buying your first home is like a dream for most people. But the dream has been placed on an indefinite hold by millions of Americans troubled by the financial crisis. Qualifying for a mortgage these days has gotten tougher with economic uncertainty. There’s no doubt that in life dreams change over time,… Continue reading Homeowner Dreams on Hold

Land Developer to Winemaker

Developer to Winemaker By Mike Colpitts Marlboro, New York — As an independent thinker and winemaker Stephen Osborne isn’t the type one would expect to end up in the rural out-back of Upstate New York. But it’s his type of fierce independence that brought him to become a revolutionary developer turned businessman in the comforts… Continue reading Land Developer to Winemaker