By Kevin Chiu Sometimes it’s hard to fathom. But there isn’t going to be a full-fledged recovery from this real estate crash for many years to come. For some reason a lot of people want to believe that things will somehow mercifully get better—and get better fast – like over night. Some areas of the… Continue reading Real Estate Recovery Hard to Fathom
Category: Housing Market
Home Sales Jump Two Straight Months
By Kevin Chiu Home sales jumped for the second month in a row in November, increasing 4% after rising almost half as much the previous month, according to the National Association of Realtors. The jump in sales accounts for an annual adjusted rate of 4.42 million existing homes sales. The rise also accounts for a… Continue reading Home Sales Jump Two Straight Months
Bankers Expect Growing Mortgage Delinquencies
By Mike Colpitts Bankers expect delinquencies on mortgages and most consumer loans to rise as the housing market remains troubled, according to a survey conducted for FICO. Nearly half of the bankers polled by the Professional Risk Managers International Association or 47% said they expect mortgage delinquencies to increase, while only 13% expect defaults to… Continue reading Bankers Expect Growing Mortgage Delinquencies
Home Prices Tumbled Less in 2011
By Mike Colpitts Home prices tumbled an average of 4.3% on a year-over-year basis through last November, according to real estate analytics firm CoreLogic. The company’s Home Price Index, released Monday, confirmed what other real estate research companies reported – that home prices fell less in 2011 than 2010. The Santa Ana, California based firm… Continue reading Home Prices Tumbled Less in 2011
Actor Dennis Quaid Sells Home
Actor Dennis Quaid finally sold his Pacific Palisades, California estate for $9.5-million. The Hollywood star sold the home because he’s been spending more time in Texas, where his family resides full time in between making movies. Back in 1999 when Quaid purchased the property for $1.8-million it comprised a three bedroom, three bathroom home. The… Continue reading Actor Dennis Quaid Sells Home
Selling LA Renewed for Second Season
By Kevin Chiu Selling LA, a TV show featuring luxury estates throughout the richest areas of Los Angeles has been renewed for a second season on Home and Garden Television. Real estate broker Valerie Fitzgerald, the star of the dazzling show will be joined by other members of her team as the weekly show shines… Continue reading Selling LA Renewed for Second Season
Home Sales Over Reported By National Association of Realtors
By Mike Colpitts Home sales were over reported by more than 14% for a four year period by the National Association of Realtors, the organization admitted today. The alarming drop in the association’s existing sale figures came as no surprise to many local members, who had said the national association was over reporting sales for… Continue reading Home Sales Over Reported By National Association of Realtors
Divided Over Forcing Banks to Increase Mortgages
Americans are divided over whether the Obama administration should issue an executive order forcing banks to make more home mortgages and loans to business to help the U.S. economy recover from the worst hit since the Great Depression, according to a new Housing Predictor poll. The online survey was taken over the last month, and… Continue reading Divided Over Forcing Banks to Increase Mortgages
Refinances Soar to Make Up 4 Out of 5 Mortgages
By Mike Colpitts Mortgage refinances soared to make up four out of five mortgages consumers applied for during the week, as homeowners flocked to obtain new mortgages. The jump in refinancing came as a result of new measures instituted by the Obama administration dropping limits on the loan-to-value of refinances. More than 1-million underwater homeowners… Continue reading Refinances Soar to Make Up 4 Out of 5 Mortgages
Mortgage Rates Hit New Lows
By Mike Colpitts Lower rates paid for U.S. Treasury bonds sent mortgage rates to their lowest levels in more than two months, driving the fixed 30-year mortgage to reach its lowest level in history since early October, and the 15-year fixed loan to another record low, according to Freddie Mac. The 30-year loan averaged 3.94%… Continue reading Mortgage Rates Hit New Lows