Category: Housing Market

Home Inventory Drops to 4-Year Low

By Mike Colpitts Homes listed for sale on the market dropped for the fifth consecutive month, hitting the lowest level in four years. The drop is a positive sign for the housing market, which has seen more home sales in recent months to aid the struggling market. Housing inventory at the end of October dropped… Continue reading Home Inventory Drops to 4-Year Low

Man Convicted of Filing False Real Estate Liens

By Kevin Chiu A federal jury has convicted a self-admitted “sovereign citizen” of filing $20 billion in false public real estate liens against government officials. The jury returned the verdict in Spokane, Washington after a two day trial against Ronald James Davenport. The 63-year-old Chewelah, Washington resident is an admitted federal tax protestor, whose ex-wife… Continue reading Man Convicted of Filing False Real Estate Liens

Owner Financing Breaks Into Fashion

By Mike Colpitts Owner financing is making a comeback in the housing market as homeowners look for ways to sell their homes in the sluggish economy. Selling a home with an owner carrying the mortgage was hardly heard of during the housing boom, but it’s returned out of necessity as more owners explore alternative ways… Continue reading Owner Financing Breaks Into Fashion

Real Estate Investors Plead Guilty in Conspiracy

By Mike Colpitts Eight real estate investors have pleaded guilty for their roles in a criminal conspiracy at real estate foreclosure auctions. The charges against the investors carry up to 30 years in U.S. federal prison and $1-million in fines. The investors agreed to enter the guilty pleas after a federal investigation led to their… Continue reading Real Estate Investors Plead Guilty in Conspiracy

Homeowners Opt to Buy Appraisals

By Mike Colpitts Homeowners are buying independent appraisals as they prepare to place their homes on the market for sale in growing numbers, attempting to determine the real value of their homes. The move is growing momentum as transactions on existing home sales fail at increasing rates. One out of three sales contracted during the… Continue reading Homeowners Opt to Buy Appraisals

Home Sales Rise to Boost Housing Market

By Mike Colpitts In two major positive signs for the U.S. housing market, home sales rose in October after sales took a nose dive during the normally busy summer season, and homes listed on the market for sale continued to decline. The existing sale of residential properties, including single family homes, townhouses and condominiums rose… Continue reading Home Sales Rise to Boost Housing Market

Jumbo Loan Limits Increased

By Kevin Chiu Jumbo loan limits, eliminated just two months ago have been increased by the Federal Housing Administration. The move raised loan limits to 125% of local median home prices to a maximum of $729,750. The FHA jumbo loan increase was approved by Congress, and is expected to be signed by President Barack Obama.… Continue reading Jumbo Loan Limits Increased

Mortgage Pace Slows Before Boom

By Mike Colpitts Despite the second lowest mortgage rates on record, refinances slowed to the slowest pace in weeks as consumers waited for new guidelines for home refinancing to be announced. Applications for refinancing slipped, driving home loan originations 10% lower, according to the Mortgage Bankers Association but are projected to boom this week. The… Continue reading Mortgage Pace Slows Before Boom

Mortgage Rates Remain Near Record Lows

By Kevin Chiu Mortgage rates remained near record low levels for the third week in a row as consumer concerns over the U.S. economy gave into positive news about the improving state of the economy, despite unemployment levels that have been at the highest levels in the nation’s history since the Great Depression. The 30-year… Continue reading Mortgage Rates Remain Near Record Lows