Category: Housing Market

Mortgage Refinances Double on Lower Rates in New Program

By Mike Colpitts Homeowners taking advantage of the new government backed refinancing initiative triggered a huge jump in refinancing applications as mortgage holders attempt to take advantage of near record low mortgage rates. The jump in refinances accounted for nearly double the volume of applications at some lenders. The Mortgage Bankers Association refinance index increased… Continue reading Mortgage Refinances Double on Lower Rates in New Program

Index Shows Housing Prices Decline

By Mike Colpitts Housing prices declined an average of 3.9% through the end of October on a year over year basis, according to the CoreLogic housing price index. The index shows that home values have dropped for three straight months, and are especially hard hit in five states. Nevada has led the nation in foreclosures… Continue reading Index Shows Housing Prices Decline

Underwater Mortgages Drop Slightly

By Mike Colpitts Homeowners with underwater mortgages or those who owe more on their homes than their properties are currently worth dropped in the third quarter in the U.S., according to real estate data firm CoreLogic. The decline, however, was marginal falling to 10.7-million residential homeowners, which is 200,000 less than the second quarter of… Continue reading Underwater Mortgages Drop Slightly

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