By Kevin Chiu Homes along the immediate path of the Gulf Coast oil leak are forecast to decline at least 30% in value as a result of the environmental catastrophe produced by British Petroleum’s gushing oil well 42-miles off of Louisiana, according to a new forecast by Housing Predictor. The forecast is being issued after… Continue reading Gulf Coast Homes to Fall 30% From BP Oil Leak
Category: Foreclosure
Home Sales Higher On Tax Credit Incentive
By Cheryl Reams Home buyers motivated by expiring federal tax credits drove existing home sales 7.6% higher in April to a seasonally adjusted rate of 5.77 million units, topping analysts’ projections, according to the National Association of Realtors. The increase in sales of single family homes, condos and townhouses pushed the associations heavily watched annual… Continue reading Home Sales Higher On Tax Credit Incentive
Bank Foreclosures Set New High Record
Formal bank foreclosures of residential properties hit a new monthly high in April with more than 92,000 being taken back by lenders. The figure marks a new threshold in the foreclosure crisis, topping the previous month by just one percent, but represents a 45% increase in foreclosures over a year ago, according to Realty Trac.… Continue reading Bank Foreclosures Set New High Record
Record 19.2 Million U.S. Homes Vacant
A record 19.2 million U. S. homes are vacant, representing the highest number of residential properties that are vacant of all-time, according to the U.S. Census Bureau. The figure represents 14.5% of all the homes in America. The dismal figure was issued as part of the Census Bureau homeownership quarterly survey for the first quarter… Continue reading Record 19.2 Million U.S. Homes Vacant
Low Mortgage Rates Strengthen Home Market
By Kevin Chiu Mortgage interest rates remain near historic lows, despite rising .04% in the last week, according to the Mortgage Bankers Association, providing strength to the nations home market. Many banking analysts expected rates would rise when the Federal Reserve halted buying mortgage-backed securities to strengthen the economy. However, a sampling of ten major… Continue reading Low Mortgage Rates Strengthen Home Market
Former Goldman Sachs Banker May Save Millions from Foreclosure
A former Goldman Sachs banker has launched an innovative company that may save 5 to 7 million mortgage borrowers from foreclosure. The private company works to negotiate with under water homeowners in an effort to reduce the number of mortgage holders who willingly walk away from their upside down mortgages. Loan Value Group, a Limited… Continue reading Former Goldman Sachs Banker May Save Millions from Foreclosure
Real Estate Agent Rebates Commissions
A new online start-up is basing its marketing plan on rebating real estate agent commissions to buyers, and it’s planted the concept by launching the program in the Garden State. New Jersey home buyers can get up to $15,000 back as a rebate from real estate agents commissions. www.HomeBuyerRebate.org was started as the pilot program… Continue reading Real Estate Agent Rebates Commissions
Fannie Mae Cuts Mortgage Guidelines to Help Borrowers
By Mike Colpitts Former homeowners who have lost their homes in a short sale or signed them back to the bank may get a break from Fannie Mae to buy a new home. The mortgage giant has cut mortgage guidelines, reducing the time to obtain a new mortgage from four years for troubled mortgage borrowers… Continue reading Fannie Mae Cuts Mortgage Guidelines to Help Borrowers
Home Sales Major Rise Shows Stronger Market
By Kevin Chiu Prompted by the federal home buyer tax credit, low mortgage rates and lower home prices home re-sales rose 6.8% in March after three straight months of declines, according to the National Association of Realtors. The rise in sales demonstrates a stronger housing market moving into the historically most active season of the… Continue reading Home Sales Major Rise Shows Stronger Market
Happy Real Estate News Goes Mobile
A new mobile phone application is placing all of its emphasis on happy real estate news. The “Happy Real Estate News” application is a tool for real estate agents and brokers to show potential buyers and sellers that local markets are “not as bad as gloom and doom reports would have you believe,” according to… Continue reading Happy Real Estate News Goes Mobile