By Mike Colpitts Despite new home builder sentiment in the industry being exceptionally low, new home construction is in the early stages of recovery. The latest National Association of Home Builders confidence index was 16 in May. A reading under 50 indicates poor sentiment. However, new home developments are showing signs of life scattered throughout… Continue reading New Home Building Starts Recovery
Category: Foreclosure
New Normal Favors Renting
By Mike Colpitts The new normal in real estate favors a larger number of renters and an increase in landlords just trying to get buy, according to the National Multi Housing Council’s mid-year apartment strategy conference. Former U.S. Congressional Budget Director Doug Holtz-Eakin said it’s inconceivable the government would stop subsidizing real estate, despite Republican… Continue reading New Normal Favors Renting
Stocks Plunge on Housing News
By Mike Colpitts Following disappointing news about the housing market, the Dow Jones Industrial average plunged 279.65 points Wednesday on the New York Stock Exchange on the first day of June, demonstrating investors’ worries over the stock market and the greater U.S. economy entering the customary busy summer housing season. The drop in the highly… Continue reading Stocks Plunge on Housing News
Open Letter on Foreclosure Mills
By Betty Delisle My name is Betty Delisle and I live in New Hampshire. I am self employed and work every day to provide for my family. I bought my first home in October of 2005 and was so excited because I finally had a chance to get off the government programs that I had… Continue reading Open Letter on Foreclosure Mills
Freddie Mac Unloads Foreclosures Paying Closing Costs
By Mike Colpitts Troubled mortgage giant Freddie Mac is making a new effort to unload its bloated inventory of foreclosed homes paying home buyers closing costs. The government backed lender, which has been bailed out by tax payers at a cost of more than $148-billion with its sister lender Fannie Mae is making the offer… Continue reading Freddie Mac Unloads Foreclosures Paying Closing Costs
Home Remodeling Shows Rebound
By Mike Colpitts Home remodeling is moving into a rebound as spring flowers begin to bloom. The National Association of Home Builders Remodeling index reached 46.5 in the first quarter, marking its highest level since 2006, and the Harvard University Joint Center for Housing Studies is predicting remodeling to rebound in 2011. Retail sales at… Continue reading Home Remodeling Shows Rebound
Home Sales Forecast to Grow
By Kevin Chiu Home sales, the bread and butter of the U.S. real estate market are forecast to grow by 125,000 to 200,000 additional residential units by the end of 2011 over last year. The increase, projected by Housing Predictor is due to near record low mortgage rates and the lowest home prices in many… Continue reading Home Sales Forecast to Grow
Foreclosures Fall Seven Straight Months, But Still at Crisis Level
By Kevin Chiu Hampered by internal bank and mortgage servicing company delays, foreclosure notices fell to a 40 month low in April, declining 9% from the prior month and 34% from a year ago. The slowdown represented the seventh straight month of delays in the foreclosure crisis as a result of the moratorium put in… Continue reading Foreclosures Fall Seven Straight Months, But Still at Crisis Level
Disaster Housing Relief Provided in 8 States
By Mike Colpitts As anxieties rise with the floodwaters along the mighty Mississippi River and residents flee for higher ground, the U.S. government is gearing up for the largest disaster aid commitment it has ever made. The Federal Emergency Management Agency has already dedicated funds to help disaster victims in eight states, including immediate foreclosure… Continue reading Disaster Housing Relief Provided in 8 States
Real Estate Brokerage Helping Thousands Monthly
By Mike Colpitts A small real estate brokerage is waging a war against foreclosures, helping thousands of homeowners’ monthly by training real estate agents to coordinate short sales and get troubled homeowners out of their problem plagued mortgages. “We’ve directly assisted tens of thousands of homeowners,” said First Coast Realty Associates broker Mike Linkenauger. “We… Continue reading Real Estate Brokerage Helping Thousands Monthly