By Jeanne Roberts There is good news on the homefront for underwater homeowners whose mortgages amount to more than their home’s value, and it’s called the Home Affordable Refinance Program, or HARP. But questions are being raised regarding the real number of homeowners who will receive help through the program. Underwater mortgages occurred when rapidly… Continue reading Underwater Mortgage Holders Get Help
Category: Sales
Short Sale Transparency Law Proposed
By Mike Colpitts A law that would force bankers to provide the minimum price they would take for a home in a short sale has been introduced in Congress in an effort to aid the housing market. The bill, authored by House member Susan Davis (D-San Diego) was introduced to give homeowners at risk of… Continue reading Short Sale Transparency Law Proposed
Miami May Set Real Estate Sales Record
By Kevin Chiu As one of the most battered real estate markets in the U.S. few would think Miami was in any position to be setting records. But the sale of homes, townhouses and condominiums is on pace to set a new record for the year in the Florida market, according to the Miami Realtors… Continue reading Miami May Set Real Estate Sales Record
Home Sales Slide, But Above Year Ago Levels
By Mike Colpitts Homes sales slipped in September following a gain the previous month, but remained ahead of a year ago, according to the National Association of Realtors. The slide in sales represented only a small 3% decrease. Existing home sales, which include the sale of single family homes, townhouses and condominiums, reached an adjusted… Continue reading Home Sales Slide, But Above Year Ago Levels
Foreclosures Fall 12 Straight Months
By Kevin Chiu Foreclosures fell for 12 straight months in September marking possibly the end of the robo-signing slowdown, according to RealtyTrac. Filings were down 6% from August and 38% from a year ago, which may signal a speed-up in the formal repossession process affecting millions of homeowners at risk of losing their homes to… Continue reading Foreclosures Fall 12 Straight Months
Mortgage Rates Drop to All Time Record Lows
By Mike Colpitts For the second week in a row mortgage rates dropped to all-time record lows as the U.S. government attempts to energize the housing market and Treasury bonds fall to record lows. The fixed rate on a 30-year mortgage averaged 3.94%, falling below 4% for the first time in U.S. history, according to… Continue reading Mortgage Rates Drop to All Time Record Lows
Seven Ways to Green Homes on the Cheap
By Jeanne Roberts It’s nice to own real estate, even nicer to own a home. But nicest of all is knowing that your home, which shelters all your loved ones has a small impact on the earth and the other creatures that also live here. You’ve heard about one’s carbon footprint, those dark blots on… Continue reading Seven Ways to Green Homes on the Cheap
Mortgage Rates Jump Quiets Market
By Kevin Chiu A jump in mortgage rates quieted home mortgage applications as consumers came to grips with a slower housing market this week, according to the Mortgage Bankers Association. Refinancing and applications for new home financing were down. Refinance applications dropped a whopping 16.6% from a week earlier, and consumers applied for fewer new… Continue reading Mortgage Rates Jump Quiets Market
Government Loans Rise on Low Mortgage Rates
By Mike Colpitts Refinances slowed but applications for government-backed mortgages jumped this past week after gaining the largest number of new mortgages in months, according to the Mortgage Bankers Association. The survey accounts for 75% of all U.S. mortgage applications applied for during the week. Mortgage applications fell a combined 4.3% from a week ago… Continue reading Government Loans Rise on Low Mortgage Rates
Home Prices Decline Year Over Year
By Kevin Chiu Home prices declined an average of 4.4% on a year-over-year basis in the U.S. through August, despite a slight increase in home values over summer months as a result of higher home sales, and record low mortgage rates, according to real estate research firm CoreLogic. The decline in home values echoes Housing… Continue reading Home Prices Decline Year Over Year