Category: News

4-Million Receive Housing Assistance

By Kevin Chiu More than 750,000 homeowners received assistance through a Housing and Urban Development program funded by the American Recovery and Reinvestment Act (TARP) to prevent them from becoming homeless, according to HUD. The figure brings to more than 4-million families who have been helped through government programs and private bank initiatives to remain… Continue reading 4-Million Receive Housing Assistance

Hard Money Financing Booms as Investors Sue

By Kevin Chiu As a federal judge starts a trial over allegations that New York firms defrauded hard money loan investors of millions of dollars in assets, other hard money lenders are achieving record profits. San Diego, California based Source Capital Funding, Inc. announced it finished closing 42 loans in October and funded nearly $9-million… Continue reading Hard Money Financing Booms as Investors Sue

$4 Million Tech Mansions Drive Comeback

By Kevin Chiu The vacation home market, still tumbling in a downturn in most of the U.S. is making an isolated comeback in Lake Tahoe, especially in the $4-million plus high-end range, where the titans of high-tech land are driving the mini-boom. As the disparity between haves and have-nots grows across America, gated real estate… Continue reading $4 Million Tech Mansions Drive Comeback

Shadow Inventory Slashed to 2.1 Million Homes

An estimated 2.1-million distressed homes make up the shadow inventory, representing a huge decline of properties that make up the inventory of homes that have not yet been formally foreclosed and listed for sale, according to Core Logic, a real estate research firm. The inventory makes up part of the more than 18-million vacant homes… Continue reading Shadow Inventory Slashed to 2.1 Million Homes

Don’t Burn Down Your House on Thanksgiving

Deep fried turkey fires will cause more than $15 million in property damage to homes and other dwellings from deep fryers that get wildly out of control across the U.S. this Thanksgiving, according to the National Fire Protection Association. The fires, ignited by deep fried turkey cookers of hot oil that quickly get out of… Continue reading Don’t Burn Down Your House on Thanksgiving

Poll: Prices Won’t Go As High Again

Home prices are doomed, according to nearly 2 out of 3 people surveyed for the latest Housing Predictor poll. Some 60% said that housing prices won’t ever reach as high as they did during the boom or not at least “in my lifetime.” The survey is disappointing news for homeowners who are anxious to see… Continue reading Poll: Prices Won’t Go As High Again

Housing Affordability Best in Years

By Mike Colpitts Housing affordability is at its best level for the seventh straight quarter in decades, according to the National Association of Home Builders-Wells Fargo index. The lowest mortgage rates since 1951 triggered an increase in home sales. The index showed that 71.1% of all homes sold in the third quarter of the year… Continue reading Housing Affordability Best in Years

Las Vegas Realtors Warn of Short Sale Fraudsters

In Las Vegas, where foreclosures are running at some of the highest levels in the U.S. many real estate agents are calling themselves short sale experts in an effort to gain business in a bitter battle to survive, but many have little or no experience at selling homes for less than what is owed on… Continue reading Las Vegas Realtors Warn of Short Sale Fraudsters

Mortgage Rates Jump Much Higher

By Kevin Chiu Mortgage rates jumped for the first time in eight weeks with the rate on a 30-year fixed rate mortgage rising by a large margin. A 30-year mortgage went for 4.17% on average a week ago and surged to 4.39% this week, according to Freddie Mac. The rate on a 15-year fixed rate… Continue reading Mortgage Rates Jump Much Higher