By Kim Olson Home prices have been moving in one direction in most areas of the U.S. and that isn’t comforting homeowners. It’s a fact that most areas of the nation are seeing more home sales but only because prices have come down so much because of foreclosures, and other bank-assisted sales. What can prospective… Continue reading Home Price Direction Fact and Fiction
Category: Sales
Mortgage Rates Drop to Record Low
By Kevin Chiu Mortgage interest rates dropped to the lowest levels since last November on signs that the U.S. economy is weakening further, and is likely to move into another official government defined recession. The housing market in many states throughout the country is already dealing with an economic depression, and has been for more… Continue reading Mortgage Rates Drop to Record Low
Mortgage Rates Jump 3 Straight Weeks
By Kevin Chiu Mortgage rates jumped higher for the third straight week as home buyers became skittish about making purchase decisions amid international unrest and doubts about the U.S. economy, according to Freddie Mac. The jump in interest rates on the bench mark 30-year fixed rate loan moved ever closer to 5% at 4.86%, five… Continue reading Mortgage Rates Jump 3 Straight Weeks
Back Slapping Has Little Housing Market Impact
The self congratulatory back slapping the Obama administration is giving itself for efforts made in the nation’s housing market crisis is making little impact on the market, and nobody else is crediting the administration. The government’s data shows progress on the real estate market overhang and shows home sales are rising, but little help when… Continue reading Back Slapping Has Little Housing Market Impact
Home Purchases Stall as Refinancing Grows
Applications for new home mortgages dropped as shopping for homes came to a stall last week, according to the Mortgage Bankers Association. However, refinancing increased to the highest level since last year. The seasonally adjusted purchase index fell 4% from the previous week, while refinances rose 0.9% to hit the best threshold since December. The… Continue reading Home Purchases Stall as Refinancing Grows
Mortgage Rates Jump Higher Amid Unrest
By Kevin Chiu Pressured by unrest in the Middle East and fallout over disasters in Japan, mortgage rates jumped higher during the week as lenders became increasingly concerned about world finance markets, according to Freddie Mac. The average rate on a fixed 30-year mortgage had a jump of .05 basis points to an average of… Continue reading Mortgage Rates Jump Higher Amid Unrest
New Homebuilders Brighter Future
By Kim Olson With the real estate market soft many homebuilders, especially large corporate homebuilders are still struggling. Real estate analysts say that the recovery will continue to be slow through 2011, and may in fact be a bit longer. Inventory of newly built homes is still high, with pending and closed sales down. Prices… Continue reading New Homebuilders Brighter Future
FHA Hike Triggers Home Buyers Surge
By Mike Colpitts A surge in home buying activity is expected to develop as a result of the Federal Housing Administration’s announcement that it will increase charges to home buyers for upfront mortgage fees. The cost of mortgage insurance premiums will rise by 75 basis points April 1st. The increase translates to $750 for every… Continue reading FHA Hike Triggers Home Buyers Surge
Making Money in Real Estate
By Kevin Chiu Real estate has long been the preferred method of safe investing for reliable returns on investors’ money backed by a tangible asset. Not all real estate investing is low risk or will automatically yield high returns as many investors learned during the real estate bubble. But making money in real estate has… Continue reading Making Money in Real Estate
New Normal in Real Estate Arrives
By Kevin Chiu Like a delivery truck motoring up the driveway the “New Normal” in real estate has arrived packaged as a surprise. You can let it get you down, or make sure that you protect yourself and your family from the financial hand-cuffs that the New Normal may deliver. Real estate economists and analysts… Continue reading New Normal in Real Estate Arrives