High unemployment in construction, gaming and retail sales is contributing to the epidemic of foreclosures in Nevada, which has slowed as bankers hold back on foreclosing properties in an attempt to raise housing prices. An assortment of new casino projects under construction has been stopped in their tracks, victims of the global financial meltdown. Unemployment… Continue reading 2010 Nevada Housing Market
Category: Foreclosure
BP Oil Spill Washes Ashore in Florida
By Kevin Chiu Pensacola, Florida – As oil began to wash ashore from the BP oil slick in Pensacola, demonstrators gathered at a BP gas station in Pensacola Sunday, and at the beach down the coast in Navarre to protest against the oil giant for not bringing an end to the massive Louisiana oil spill… Continue reading BP Oil Spill Washes Ashore in Florida
Very Low Confidence in Housing Market
Very Low Confidence in Housing Market Consumer confidence in the housing market is near a modern all-time low, according to a new Housing Predictor opinion poll. The survey found that a huge majority of those polled feel the housing market is not improving, despite a series of government programs and other efforts to re-energize the… Continue reading Very Low Confidence in Housing Market
BP Oil Spill Strikes Florida with Snow Ball Effect
By Mike Colpitts Wallowing in pain from the financial crisis, its real estate markets bruised and battered Florida’s panhandle beaches are being struck by the gushing oil spill from the Louisiana BP oil well. Call it “the Snow Ball Effect” of this mighty economic, environmental and real estate catastrophe. It’s a snow ball of extremes,… Continue reading BP Oil Spill Strikes Florida with Snow Ball Effect
Mortgage Rates Barely Budge
By Cheryl Reams Mortgage rates on a conventional 30-year loan barely budged from last week, rising a slim one-hundredth of one percent to 4.79% on average, according to Freddie Mac. Applications for home loans also slowed. The 30-year fixed rate mortgage is the barometer of mortgage rates, remaining at or near its lowest level for… Continue reading Mortgage Rates Barely Budge
Home Market Stabilization Gains Momentum
By Kevin Chiu Housing sales rose in April as the federal tax credit expired, and pending home sales increased for four straight months, indicating that momentum is building in the housing market setting up a pattern of stabilization. Aided by lower home prices, the momentum of sales is expected to slow and then rise over… Continue reading Home Market Stabilization Gains Momentum
BP Oil near Florida Beaches
Down on the Gulf of Mexico – Living through the last 45 days has been like living through a nightmare for residents along the Gulf Coast, anxiously waiting and worrying what the BP oil disaster will send our way. The plume of massive oil is growing and moving ever closer to the shoreline of Florida.… Continue reading BP Oil near Florida Beaches
Default Mortgages Ease to 7.3 Million
By Kevin Chiu Mortgages in default and foreclosed homes account for just over 7.3-million homes, according to Lender Processing Services, the nation’s largest provider of mortgage servicing data. The widespread volume of distressed properties indicates that by any measure a full recovery in the housing market is not possible for more than a year. Homes… Continue reading Default Mortgages Ease to 7.3 Million
Down on the Gulf of Mexico Tensions Run High with BP Oil
By Mike Colpitts Editor Down on the Gulf of Mexico tensions and anger run high. I know full well what the BP oil gusher is all about. I live here. The gushing oil well a mile under sea spews oil at a rate that officials can’t even accurately estimate. Is it 3-million gallons a day?… Continue reading Down on the Gulf of Mexico Tensions Run High with BP Oil
Housing Aid to Homeowners by Fall
By Mike Colpitts Facing the roughest real estate crisis in more than a half century, housing agencies in 10 states expect to begin handing out housing aid to homeowners at risk of foreclosure by fall from the federal government. The $2.1-billion Hardest Hit Fund is targeting homeowners in 10 states most severely affected by the… Continue reading Housing Aid to Homeowners by Fall