Former vice presidential candidate Sarah Palin’s daughter Bristol is becoming a landlord in Phoenix. The ex-Dancing with The Stars contestant, whose out of wedlock pregnancy alarmed the Republican religious right wing during Palins run to win the vice presidency, has moved out of her Phoenix area home, and has put it on the market as… Continue reading Sarah Palin’s Daughter Turns Landlord
Category: Sales
Record Low Mortgage Rates 8 Straight Weeks
By Mike Colpitts For eight straight weeks, mortgage rates have hit new record lows as uncertainty over the Eurozone combined with concerns over the U.S. economy unsettles financial markets. The Freddie Mac average for a 30-year fixed rate loan reached 3.67% last week. However, government officials in Spain asked for $100 billion to bail-out the… Continue reading Record Low Mortgage Rates 8 Straight Weeks
Mortgage Interest Rates Drop Six Straight Weeks
By Mike Colpitts Driven by slower economic activity and sluggish home sales, mortgage interest rates dropped for six straight weeks as the fixed rate 30-year loan fell a slim one-hundredth of one-percent to an average rate of 4.60%, according to Freddie Mac. The rate on the 15-year mortgage also saw a drop. Slower economic activity,… Continue reading Mortgage Interest Rates Drop Six Straight Weeks
Rigid Land Use Spiked Home Prices
By Mike Colpitts Rigid land use restrictions contributed to the housing bubble burst and still play a major role driving home values lower, according to a new study conducted by a Washington, D.C. think tank. “The majority of losses in the housing crash were overwhelmingly concentrated in metropolitan areas with restrictive land development regulations,” said… Continue reading Rigid Land Use Spiked Home Prices
Home Affordability Vital To Ownership
By Kevin Chiu Gone are the days of being over-extended as a result of easy “Liar Loans” with borrowers qualifying for mortgages in today’s housing market at restrictive borrowing standards. Lenders are qualifying mortgage applicants with much lower home affordability ratios and higher credit scores. Millions of homeowners find themselves over extended and unable to… Continue reading Home Affordability Vital To Ownership
Home Remodeling Shows Rebound
By Mike Colpitts Home remodeling is moving into a rebound as spring flowers begin to bloom. The National Association of Home Builders Remodeling index reached 46.5 in the first quarter, marking its highest level since 2006, and the Harvard University Joint Center for Housing Studies is predicting remodeling to rebound in 2011. Retail sales at… Continue reading Home Remodeling Shows Rebound
Home Sales Forecast to Grow
By Kevin Chiu Home sales, the bread and butter of the U.S. real estate market are forecast to grow by 125,000 to 200,000 additional residential units by the end of 2011 over last year. The increase, projected by Housing Predictor is due to near record low mortgage rates and the lowest home prices in many… Continue reading Home Sales Forecast to Grow
Interest Rates Hit New Low in 2011
By Mike Colpitts Mortgage interest rates hit a new low for the year declining to 4.61% on a 30-year fixed rate loan, a slight 0.02 margin lower from a week earlier, while the rate on a 15-year fixed rate mortgage also dropped to a new low in 2011. The heavily watched Freddie Mac averages have… Continue reading Interest Rates Hit New Low in 2011
Home Sales Decline Slightly in April
By Kevin Chiu Home sales declined slightly in April, despite favorable home buying conditions, falling just 0.8% to a seasonally adjusted rate of 5.05 million units annually, but are still nearly 13% off the pace of last year when the home buyer tax credit was in effect, according to the National Association of Realtors. Existing… Continue reading Home Sales Decline Slightly in April
Extra Short Sale Losses to Exceed $375 Million
By Mike Colpitts Short sales in which lenders cooperate with homeowners to sell at a price lower than what is owed on a properties mortgage is costing the lending industry an estimated $375 million in additional losses in 2011, according to a study by a leading real estate research firm. The rate of fraudulent short-sale… Continue reading Extra Short Sale Losses to Exceed $375 Million