By Kevin Chiu A state bill proposed to reduce fraud in timeshare resales has made it through the Florida state senate and could be the first law enacted in the U.S. intended to eliminate one of the oldest lies in real estate. Florida’s Timeshare Resale Accountability Act, also known as SB 1408, sponsored by Senator… Continue reading Timeshare Bill Proposed to Reduce Fraud
Category: News
Real Estate Sales Manager Indicted on Federal Bribery Charges
By Mike Colpitts The former real estate sales manager of a property management company and two fellow workers were indicted by a U.S. grand jury in connection with a housing repair scheme for the U.S. Department of Veterans Affairs. The 10-count indictment was returned by a federal grand jury in Rockford, Illinois against Ryan J.… Continue reading Real Estate Sales Manager Indicted on Federal Bribery Charges
The Next Big Real Estate Boom Includes Oil
By Mike Colpitts The next big real estate boom might not be in such a pretty place – unless you consider shale formations of grey crumbling rock a thing of beauty. But an unlikely region of the remote northern U.S. holds a fortune for America’s future. It’s the biggest oil discovery since Prudhoe Bay, Alaska… Continue reading The Next Big Real Estate Boom Includes Oil
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
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
US Offers Foreign Residency for Real Estate
By Jeanne Roberts It’s an interesting offer – As a foreigner, buy a home in the United States for $500,000 or more and get a visa that lets you also live in the country. Buyers could also qualify for the visa by purchasing a $250,000 home and spending an equivalent amount on residential real estate… Continue reading US Offers Foreign Residency for Real Estate
REITs Benefit Biggest From Low Interest Rates
By Mike Colpitts Real Estate Investment Trusts (REITs) are benefitting from the Federal Reserve’s low interest rate policy more than any other single sector of the U.S. economy, and their profit windfalls are being returned to investors. Once thought to have seen their day, REITs are still benefitting from the Fed’s low interest rates stand,… Continue reading REITs Benefit Biggest From Low Interest Rates
HARP Hopeless Re-election Ploy
By Lance Roberts Economist It’s campaign time and the Obama administration is in full GGG (Government Goodie Giveaway) mode as President Barack Obama travels from sea to shining sea seeking to regain support of the disgruntled masses. With the jobs program a failure due to inaction from Congress, and the fact that the plan was… Continue reading HARP Hopeless Re-election Ploy
GMAC Rewards Underwater Homeowners
By Mike Colpitts As one of the U.S. most troubled mortgage lenders, GMAC Mortgage, once ranked as one of the top producing mortgage companies in the nation is offering troubled underwater homeowners cash bonuses in exchange for making mortgage payments on time. The program will be offered to a pilot group of military veterans to… Continue reading GMAC Rewards Underwater Homeowners
Mortgage Rates Drop Holds
By Kevin Chiu Mortgage rates remained at their all-time record lows on worries over the European debt market and sluggish economic activity in the U.S., according to the Freddie Mac weekly survey. But borrowing rates at many lenders being locked-in by consumers are much lower than the averages represent. The 30-year fixed mortgage average remained… Continue reading Mortgage Rates Drop Holds