By Mike Colpitts Don’t expect it to be easy work if you plan on flipping a home this year to make a profit, but there are a few places in the U.S. that are pretty good bets to cash in to make a tidy profit, despite economic woes. The best places to flip homes in… Continue reading Best Cities to Flip Homes in 2012
Category: Housing Market
Pennsylvania Lender to Pay $3.9 Million Fine
A Pennsylvania mortgage lender has agreed to pay a fine of $3.9 million to settle a lawsuit for lying to federal mortgage officials. The suit was filed in the Central District of California, alleging that officials of Capmark Finance LLC of Horsham, Pennsylvania made a series of false statements in connection with two nursing home… Continue reading Pennsylvania Lender to Pay $3.9 Million Fine
Feds Triple Incentive to Reduce Mortgages
By Amanda Green For over a year the White House has been applying pressure on the Federal Housing Finance Agency – the folks in charge of Fannie Mae and Freddie Mac – to embrace a mortgage principal reduction plan for struggling homeowners, and even offering triple incentives to lenders to reduce mortgages. U.S. Secretary of… Continue reading Feds Triple Incentive to Reduce Mortgages
Mediation Can Save Homeowners from Foreclosure
By Kevin Chiu Millions of homeowners at risk of foreclosure can be saved from losing their homes through mediation, according to a new report issued by the non-profit National Consumer Law Center. The report reviewed existing foreclosure programs in 19 states to come up with recommendations for states to adopt. Programs the organization feels are… Continue reading Mediation Can Save Homeowners from Foreclosure
Clean Air Produces Higher Home Prices
Housing prices get a major lift from reductions of smog and other pollutants, according to a study conducted by the National Bureau of Economic Research. After all, given the choice who wouldn’t want to live in an area with plenty of clean air to breathe each day? The study was gathered by researchers Kenneth Chay… Continue reading Clean Air Produces Higher Home Prices
2012 West Virginia Housing Market
West Virginia has known hard times for generations so the current state of the U.S. economy is nothing new to those who make their home in West Virginia, which has one of the highest rates of poverty in the U.S. and perhaps the most dilapidated housing in the country. But a positive development has emerged… Continue reading 2012 West Virginia Housing Market
2012 Michigan Housing Market
The headlines over Michigan have been blazing for years. The state is in financial ruin, more than two-thirds of its biggest city residents have left and the real estate market is in shambles. But wait a second… Things just may be getting better in Michigan, the state that entered the housing bust first. Prices have… Continue reading 2012 Michigan Housing Market
U S Foreclosures Drop Huge
By Mike Colpitts Formal foreclosures or homes that were repossessed by their lenders accounted for 830,000 U.S. homes in 2011, a huge drop of 24% from 2010, according to real estate data research firm CoreLogic. The decline comes as a result of moratoriums enacted by the nation’s five largest mortgage lenders to study damage from… Continue reading U S Foreclosures Drop Huge
Bankruptcy Drop Shows Economic Upside
By Mike Colpitts Consumer bankruptcy filings declined through the latter half of 2011 and have now reached pre-recession levels, indicating a positive sign for the U.S. economy, according to credit report bureau Equifax. The drop in bankruptcy petitions paralleled a similar decline in foreclosures. Consumer and commercial bankruptcies dropped steadily from the second quarter of… Continue reading Bankruptcy Drop Shows Economic Upside
Home Builder Confidence Upswing
Home builder confidence in the senior housing market, age 55 and older, rose four points to 18 compared to a year ago, according to the National Association of Home Builders housing market index. The 55 plus single family index measures builder sentiment based on current home sales, new home buyers’ walk-in traffic and projected home… Continue reading Home Builder Confidence Upswing