By Kevin Chiu The case for optimism in 2011 on the U.S. housing market gained momentum with the latest National Association of Realtors monthly sales report, showing that home sales rose for the fifth time in six months. With pent-up demand, near record low mortgage rates and lower home prices the housing market is poised… Continue reading Case for Optimism on Housing Market
Category: Housing Market
Homeowners Will Walk Away from Home Mortgages
In what may be a harbinger of things to come almost half of those surveyed say they will walk away from home mortgages if home prices continue to drop. The Housing Predictor opinion poll is the most forceful indicator yet of what is likely to happen next as a result of the troubled U.S. economy.… Continue reading Homeowners Will Walk Away from Home Mortgages
Pent Up Demand to Drive Rebound
Pent up buyer demand that has amassed over the past five years since the downturn in the U.S. housing market, will drive a major rebound in home sales during 2012, according to a new Housing Predictor survey. The increase in sales seems to already be materializing as home buyers that can qualify for a mortgage… Continue reading Pent Up Demand to Drive Rebound
Efforts Grow Against Bad Bank Behavior
By Kevin Chiu Billions of dollars in damages are being sought against bank executives through lawsuits as foreclosure fraud class actions pile up against major banks. The lawsuits are besieging an industry that racked up record profits as a result of bad bank behavior in what amounts to the U.S. largest series of alleged fraud… Continue reading Efforts Grow Against Bad Bank Behavior
Hurting Miami Home Sales Rebound
By Kevin Chiu Home and condominium sales are making a major rebound in Miami, one of the U.S. most severely devastated housing markets. Condo sales rose 29% over 2009 in December clearly demonstrating that the South Florida market is making strides into a real estate recovery, despite tight mortgage lending standards. Developers constructed more than… Continue reading Hurting Miami Home Sales Rebound
Mortgage Rates Mixed Moves
By Mike Colpitts Rates on a conventional 30-year fixed rate mortgage moved higher for the first time in three weeks, as rates on other loan products for home financing moved lower showing mixed moves for the week, according to Freddie Mac. The rate on the long term mortgage rose to 4.74%, an uptick of just… Continue reading Mortgage Rates Mixed Moves
Home Sales Surge Higher Showing Recovery
By Kevin Chiu Home sales surged higher in the last month of the year as buyers took advantage of near record low mortgage rates despite the holiday season, according to the National Association of Realtors. The existing sales of single family homes, townhouses and condominiums rose 12.3%, the fifth increase in the last six months.… Continue reading Home Sales Surge Higher Showing Recovery
Neither Best nor Worst in California
By Mike Colpitts Long viewed as the national leader in real estate and hundreds of other dizzying trends and fads, California neither made the annual Best or Worst 25 Housing Predictor market lists for 2011. It was the first time in the index’s six year history that a Golden State market failed to make the… Continue reading Neither Best nor Worst in California
Refinancing Shows Third Straight Weekly Rise
By Kevin Chiu Refinancing applications rose for the third straight week in a row as interest rates took a slight decline, according to the Mortgage Bankers Association. The refinance index rose 7.7% for the week ending January 14 th, as refinances rise to the highest level since before the holiday season in early December. The… Continue reading Refinancing Shows Third Straight Weekly Rise
Housing Recovery Develops
By Mike Colpitts Anchored by stronger economic growth in northern tier states with higher production in farming and energy, a housing recovery is slowly developing that is already broadening into portions of the mid-west. Three of the nation’s lowest populated states, Wyoming, North Dakota and South Dakota had little to do with the real estate… Continue reading Housing Recovery Develops