The question of whether to rent or buy a home hasn’t been at the forefront like these days in more than 50 years. But the real estate collapse is adding pressures to a major economic decision that could either help or hinder the future of millions of Americans. Homeownership represents a great source of personal… Continue reading Renting Versus Buying a Home
Category: Housing Market
Refinances Rise on Soft Home Sales
Refinance applications hit another milestone as homeowners came out in droves to take advantage of mortgage rates that are hovering in record low territory, according to the Mortgage Bankers Association. Applications on new home purchases also inched up slightly for the week, despite a major fall-off in home sales. The bankers refinance index rose 2.8%… Continue reading Refinances Rise on Soft Home Sales
Best Forecast Housing Markets 2010
Lansing, Michigan moves into the #1 position in Housing Predictor’s Best 25 Housing Markets for 2010, as sales hit an all time high for the first time in four years with a boost from the federal tax credit. However, Detroit, Michigan suffering through one of the worst housing depressions in the nation for nearly 5… Continue reading Best Forecast Housing Markets 2010
Vice President Joe Biden Laughing Stock
Vice presidents have historically played the fool to U.S. presidents, and Vice President Joe Biden is quietly proving to be cast better than most Hollywood producers could dream. In limited media coverage, the vice president announced a milestone of 200,000 homes being weatherized with Troubled Asset and Relief Program funds on a trip to Manchester,… Continue reading Vice President Joe Biden Laughing Stock
Investment Fund Launches $100 Million Effort
By Mike Colpitts An Atlanta based firm has formed a real estate investment fund with an ambitious goal of raising $100-million to invest in troubled homes and apartments in an effort to produce high net profits for investors. The new company is jointly owned by principals of an investment firm, Avalon Investment and Securities Group,… Continue reading Investment Fund Launches $100 Million Effort
Poll Shows Hardly Anyone Trusts Bankers
At a time when Congress has the lowest approval record in history, bankers receive even lower marks for being trusted by the public at large, according to a new Housing Predictor survey. The latest opinion poll found that only 3% of all those surveyed trust bankers to have consumers best interests in mind. An over-whelming… Continue reading Poll Shows Hardly Anyone Trusts Bankers
Outrage Rises over Sinking Home Prices
By Kevin Chiu Home mortgage purchase applications fell for nearly two straight months. The plunge in home sales was evident to real estate economists, yet those polled for the survey some how refused to see the evidence for what it was. Refinancing mortgages is becoming the main-stay of the mortgage business, indicating that homeowners who… Continue reading Outrage Rises over Sinking Home Prices
Mortgage Rates Lower Record
Mortgage rates dropped for the ninth time in the last 10 weeks to another low record amid growing worries that the U.S. economy is weakening, according to Freddie Mac. The rate on a 30-year fixed rate mortgage fell to 4.36%. The rate was 4.42% last week. It’s the lowest since Freddie Mac has been keeping… Continue reading Mortgage Rates Lower Record
Refinancing Applications Rise
Spurred by record low mortgage rates, applications to refinance home mortgages rose to a new high last week and applications for new home mortgages were up slightly, according to the Mortgage Bankers Association. The rate at which consumers are applying to refinance their home mortgages hit a new peak. The bankers’ market composite index, which… Continue reading Refinancing Applications Rise
Miami Condo Sales Soar
By Kevin Chiu Once the nation’s epicenter in the real estate collapse Miami, Florida condo sales are soaring, up 43% over year ago levels, according to the Miami Association of Realtors. The Miami housing market has now experienced rising sales for nearly two straight years. Miami ’s condominium market tanked even before the financial crisis… Continue reading Miami Condo Sales Soar