Category: Sales

Home Prices Fall Almost 5% in 2011

By Mike Colpitts Home prices fell nearly an average of 5% last year as a result of a troubled U.S. economy, decaying consumer sentiment, high unemployment and a foreclosure crisis that is running out of control, according to real estate research firm Core Logic. The company’s December Home Price Index showed an average 4.7% decline… Continue reading Home Prices Fall Almost 5% in 2011

Homeownership Falls Seventh Year

Troubled by a record foreclosure crisis and an economy hinging on an economic collapse, homeownership fell for the seventh straight year to the lowest level in more than a decade, according to the U.S. Census Bureau. The drop in the nation’s homeownership rate is evidence that government programs to increase the number of homeowners only… Continue reading Homeownership Falls Seventh Year

Real Estate Investment Concentrated in 30 Cities

By Mike Colpitts More than half of all real estate investments are concentrated in 30 major cities across the world, according to a new study. Twenty-five percent of property investments are in five metropolitan areas, including New York. The study, conducted by commercial real estate company Jones Lang LaSalle, found that major cities house most… Continue reading Real Estate Investment Concentrated in 30 Cities

Home Sales Rebound Sharply

By Kevin Chiu Pushed by record low mortgage rates and home prices that have fallen drastically from their peak highs, home sales are experiencing sharp rebounds in the Northeast and Midwestern regions of the U.S., according to the National Association of Realtors. Existing home sales jumped 10.7% to an annualized pace of 620,000 units in… Continue reading Home Sales Rebound Sharply

Timeshare Bill Proposed to Reduce Fraud

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

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

Mortgage Rates Set New Record Low

By Kevin Chiu Troubled by high long term unemployment worries, financial markets set the stage for another drop in mortgage rates this week, sending rates to a new historic record low. The average 30-year fixed rate home mortgage dropped to 3.89%, down from 3.91% last week, according to Freddie Mac. Mortgage interest rates are at… Continue reading Mortgage Rates Set New Record Low

Where to Move, Get a Job & Buy a Home in 2012

By Mike Colpitts The hard hit economy is mending in some areas of the U.S., while other regions continue to suffer through the dregs of a housing market still in a downturn. But among all the places that are on the mend there are a handful of fairly solid cities where you might just want… Continue reading Where to Move, Get a Job & Buy a Home in 2012

Home Affordability Reaches 1971 Level

By Mike Colpitts Homes are more affordable to purchase than they have been since 1971 as a result of falling home prices, according to the U.S. Department of Housing and Urban Development (HUD). Despite record low mortgage rates, the downward trend in home values is sustained in the majority of the U.S. The best housing… Continue reading Home Affordability Reaches 1971 Level