Category: Housing Market

Home Foreclosure Purchases Push Prices Higher

By Mike Colpitts Strong demand for lower priced foreclosure homes held by banks (REOs) and the nation’s giant mortgage lenders by purchasers is starting to send values of all other homes higher, according to real estate research firm Clear Capital. The Truckee, California based data firm said home prices are still losing ground over the… Continue reading Home Foreclosure Purchases Push Prices Higher

Banks Fight Foreclosure Initiative

By Mike Colpitts A ballot initiative that would force banks to provide proof of ownership before foreclosing on a home is facing a major legal fight in court by bankers, who want to kill the citizen initiated proposal before it makes the ballot. Two big banking associations are battling against the initiative from being placed… Continue reading Banks Fight Foreclosure Initiative

Housing Index Shows Upward Trend

By Mike Colpitts Home prices declined an average of less than one-percent in the U.S. on a year to year basis through the end of March, according to a heavily watched housing price index indicating an upward trend for the marketplace. The CoreLogic index showed that prices were down 0.6% from one year ago, including… Continue reading Housing Index Shows Upward Trend

Pest Problems Bug Homeowners Early

By Ryan Jackson An over-whelming majority of homeowners are experiencing pest problems as a result of warmer weather in much of the U.S., according to a new study. Nearly half had problems with ants, while other bugs, including spiders and flies were most common. The study was conducted by Home Team Pest Defense, the third… Continue reading Pest Problems Bug Homeowners Early

Home Purchases Jump Two Weeks

By Mike Colpitts Led by a jump in conventional mortgage applications, home purchases rose for the second week in a row signaling a positive turn for the U.S. housing market, according to the Mortgage Bankers Association weekly index. Pushed by record all-time low mortgage rates, buyers turned out to take advantage of the historically low… Continue reading Home Purchases Jump Two Weeks

Home Remodeling Out Paces Purchases

By Mike Colpitts Home remodeling is out-pacing home purchases as homeowners plan on staying put longer than they have in past years, according to a new poll by the National Association of Remodeling Industry organization. An over-whelming number of respondents to the poll said they plan on staying in their current homes at least five… Continue reading Home Remodeling Out Paces Purchases

Recovery Pushes Foreclosures Lower 3 Months

By Mike Colpitts In a sign the U.S. housing market is on the road to recovery, foreclosures dropped for the third month in a row in April, despite a traceable increase in repossessions along the eastern U.S. coast. Initial notices of default were filed against 188,780 residential properties, the lowest since July 2007. Final bank… Continue reading Recovery Pushes Foreclosures Lower 3 Months

Mortgage Modifications Drop One-Third

By Mike Colpitts Mortgage modifications for troubled homeowners seeking to reduce payments dropped nearly a third during the first quarter of the year, according to the independent alliance of mortgage servicers, investors and non-profit credit counselors, Hope Now. The steep drop in modifications represented 31% less than the same quarter a year earlier, with 207,000… Continue reading Mortgage Modifications Drop One-Third

Former SEC Prosecutor Opens Investigation on REITs

By Mike Colpitts A former Security and Exchange Commission (SEC) prosecutor is launching an aggressive investigation into Real Estate Investment Trusts to recoup millions of dollars in losses for investors, who say they have been misled by investment brokers. Fort Lauderdale attorney David R. Chase has launched inquiries on behalf of investors in REITs throughout… Continue reading Former SEC Prosecutor Opens Investigation on REITs