By Mike Colpitts American home buyers didn’t have a clue they were buying mortgages from bankers and mortgage companies that were like mad gamblers at the crap table during the real estate boom. As the tables turn with tens of thousands of homeowners filing lawsuits against bankers for defrauding them, the first motion picture to… Continue reading American Casino Getting Rave Reviews
Category: Housing Market
Banks Wage Financial War
By John Hines Economist Bankers and mortgage companies are waging a financial war against the epidemic of foreclosures. Bankers have slowed down the foreclosure process in efforts to keep their losses in check and paint the face of an improving economy on banks’ balance sheets in an effort to show the real estate market is… Continue reading Banks Wage Financial War
New Record in Foreclosures Set
The foreclosure epidemic reached a new milestone in July setting another record, according to the RealtyTrac monthly report. Foreclosure filings were reported on 360,149 properties nationwide, rising 32% from one year ago. “July marks the third time in the last five months where we’ve seen a new record set for foreclosure activity,” said James J.… Continue reading New Record in Foreclosures Set
Groups of Investors Buying Up Foreclosures
By Kevin Chiu Groups of investors are pooling their money to buy large bulk inventories of foreclosures in hopes of making a financial killing. The purchases of mainly single family homes comprise the largest sector of buyers in the housing market these days, according to a study by Housing Predictor. The findings were determined after… Continue reading Groups of Investors Buying Up Foreclosures
Return to 60s Home Prices
By Kevin Chiu Who could deny lyrics like, “I love you, yea, yea, yea?” It was the heyday of the Beatles. Andy Griffith was walking his beat in Mayberry. Donna Reed made primetime television fun and the Hippie era made life interesting. The 1960’s have a memorable nostalgia in Americans hearts– The good ol’ days… Continue reading Return to 60s Home Prices
Housing Czar Wanted
from Google Maps By Mike Colpitts The classified advertisement reads: “Immediate opening for an expert negotiator with serious finance credentials. Master’s degree in economics or related field required. Real Estate background a must, especially in residential area. Scope of experience should include working with and understanding bankers.” Apply to: President Barack Obama, The White House… Continue reading Housing Czar Wanted
Beware of False Bottoms in Housing
By John Hines Economist Euphoria can be a dangerous emotion. Economic intricacies are tough enough for even the most practiced of economists to read in real estate markets. But the worst recession since the Great Depression is pointing to a longer downturn yet in housing. A new economy is slowly emerging from the catastrophe of… Continue reading Beware of False Bottoms in Housing
Sun Belt Leads in Foreclosures
Four of the most populated sun belt states account for the highest foreclosure rates in the nation, according to the RealtyTrac mid-year foreclosure market report. California, Florida, Nevada and Arizona urban areas produced 35 of the 50 highest foreclosure rates among metro areas. The report was tabulated from metro areas with populations of at least… Continue reading Sun Belt Leads in Foreclosures
How Contract Abandonment is Helping Restore the Real Estate Market
Leave Morality Out Of It: How Contract Abandonment Is Helping Restore Reality to The Real Estate Market By Jared H. Beck, Esq. Beck & Lee Business Trial Lawyers Miami, Florida “Ditching Condo Deal May Have Been Smart.” That recent headline from the Palm Beach Post announced what many who bought condo units in the preconstruction… Continue reading How Contract Abandonment is Helping Restore the Real Estate Market
Homeowners Get New Tax Credits
By Kevin Chiu Under the Obama Administration’s housing rescue plan homeowners may also get new tax credits. The administration’s proposal was approved as part of the president’s $787-billion bail out program and will save homeowners thousands of dollars. The highly touted $8,000 first time buyer’s federal tax credit has become popularized as new home buyers… Continue reading Homeowners Get New Tax Credits