Home and apartment rents are rising in the majority of the U.S. and are expected to sustain higher increases over coming months to menace the housing market, according to a survey of residential property managers. The new TransUnion survey found that both large and small property managers are faring better than they were a year… Continue reading Rents Rise to Menace Market
Category: Housing Market
Homeowners Bill of Rights to Become Law
By Mike Colpitts California lawmakers have passed a groundbreaking series of foreclosure relief bills that proponents hope will spur similar legislation for homeowners across the U.S. The bills are the first of their kind in the nation, and California Governor Jerry Brown says he will sign the Homeowners Bill of Rights into law. The legislation… Continue reading Homeowners Bill of Rights to Become Law
Underwater Homeowners Gain Home Equity
By Mike Colpitts Underwater homeowners, already upside down in the current economy more than ever before are seeing their fortunes turn around, with new data showing a gain in home equity. The upturn in homeowner equity comes as a result of growing home price inflation in some cities and slower equity losses in others. Some… Continue reading Underwater Homeowners Gain Home Equity
Effort to Increase Mortgage Lending Launched
By Mike Colpitts A new product designed to increase mortgage lending and aid bankers in their risk taking decisions is being launched by real estate research firm CoreLogic in conjunction with FICO. The credit scoring product evaluates traditional credit data from consumer credit files and adds a new series of dimensions to more accurately reflect… Continue reading Effort to Increase Mortgage Lending Launched
US Treasuries Send Mortgage Rates Lower
By Mike Colpitts All-time record low mortgage rates have become old news lately, but rates on conventional mortgages and most adjustable loans hit new record territory again this week as U.S. Treasuries fell. The 30-year fixed rate home loan reached an average of 3.56%, down from 3.62% just a week ago. The 15-year fixed rate… Continue reading US Treasuries Send Mortgage Rates Lower
Tight Housing Inventory Slows Recovery
By Mike Colpitts A tight inventory of homes restricted by new bank foreclosure procedures and underwater homeowners unable to sell homes slows the U.S. housing market from making a swift recovery. The limited supply of existing homes listed for sale is producing multiple offers in some cities, and sluggish sales in others. Housing inventory has… Continue reading Tight Housing Inventory Slows Recovery
Household Energy Costs Jump 3% Yearly
By Mike Colpitts Household energy costs are jumping almost 3% a year in the U.S. to average $2,024 annually, according to the U.S. Energy Department. The amount it costs to heat and cool a home has been rising steadily since at least 2005, a new study by the department’s information administration shows. Energy expenses are… Continue reading Household Energy Costs Jump 3% Yearly
5 Best Beach Vacation Home Bargain Cities
The surf meets the sand in the heat of summer. Whether this is the year to buy that beach vacation home or not is another thing. If you’reconsidering the plunge, these are the best 5 beach home bargain cities to buy a foreclosure home or condo. Foreclosure News Report ranked U.S. metro areas across the… Continue reading 5 Best Beach Vacation Home Bargain Cities
Summer Home Sales Decline
By Ryan Jackson Despite record low mortgage rates and the lowest home prices in years, existing home sales disappointingly fell for the second straight month in June as consumers remain skittish about the U.S. economy to a seasonally adjusted rate of 4.37 million units. The usually busy summer selling season has gotten off to a… Continue reading Summer Home Sales Decline
Foreign Real Estate Buyers Drive Recovery
By Mike Colpitts Cash flush foreign real estate buyers are driving the U.S. housing market into a recovery, producing $82.5 billion in sales in the last year alone. International residential sales are gaining momentum and are divided between recent U.S. immigrants and non-resident foreigners who are buying a piece of America at deep discounts. Low… Continue reading Foreign Real Estate Buyers Drive Recovery