By Kevin Chiu Home inventories rising in most markets, mortgage rates moving higher and markets pulling out of their downturns only to return to negative territory. Some are. Some aren’t. Those are just a few of the factors impacting real estate markets as we move into the New Year affecting whether housing prices go up… Continue reading A Daring New Year in Housing Prices
Robo-Signing Auditors Named
By Kevin Chiu Federal regulators have named the independent auditors who will conduct reviews of foreclosure files on as many as 4.5 million homes as a result of consumer complaints over illegal robo-signing tactics. The audit is expected to take more than a year, according to the U.S. Office of Comptroller of Currency. Tens of… Continue reading Robo-Signing Auditors Named
Home Purchases Rise as Mortgage Rates Jump
By Mike Colpitts Mortgage applications to buy a home shot up more than 14% for the latest week reported by the Mortgage Bankers Association, indicating a major jump in home buying activity driven by near record low mortgage rates that are moving higher. Mortgage rates have slowly moved upward since hitting a record low of… Continue reading Home Purchases Rise as Mortgage Rates Jump
Shadow Inventory Slashed to 2.1 Million Homes
An estimated 2.1-million distressed homes make up the shadow inventory, representing a huge decline of properties that make up the inventory of homes that have not yet been formally foreclosed and listed for sale, according to Core Logic, a real estate research firm. The inventory makes up part of the more than 18-million vacant homes… Continue reading Shadow Inventory Slashed to 2.1 Million Homes
Home Sales Decline in October
Home sales declined in October after climbing for two straight months, according to the National Association of Realtors. Existing home sales are also nearly 26% below the pace a year ago when the federal tax credit was in effect. Sales on residential properties declined to a seasonally adjusted rate of 4.43-million for the month, a… Continue reading Home Sales Decline in October
Cyber Monday New Home Sale
By Kevin Chiu In an effort to improve sales and increase interest, an Ohio new home builder is taking a new route to keep up with changing times and sell homes at huge discounts on the Internet. The sale will feature a limited number of new homes at developments in two states and be conducted… Continue reading Cyber Monday New Home Sale
Don’t Burn Down Your House on Thanksgiving
Deep fried turkey fires will cause more than $15 million in property damage to homes and other dwellings from deep fryers that get wildly out of control across the U.S. this Thanksgiving, according to the National Fire Protection Association. The fires, ignited by deep fried turkey cookers of hot oil that quickly get out of… Continue reading Don’t Burn Down Your House on Thanksgiving
Poll: Prices Won’t Go As High Again
Home prices are doomed, according to nearly 2 out of 3 people surveyed for the latest Housing Predictor poll. Some 60% said that housing prices won’t ever reach as high as they did during the boom or not at least “in my lifetime.” The survey is disappointing news for homeowners who are anxious to see… Continue reading Poll: Prices Won’t Go As High Again
Housing Affordability Best in Years
By Mike Colpitts Housing affordability is at its best level for the seventh straight quarter in decades, according to the National Association of Home Builders-Wells Fargo index. The lowest mortgage rates since 1951 triggered an increase in home sales. The index showed that 71.1% of all homes sold in the third quarter of the year… Continue reading Housing Affordability Best in Years
Las Vegas Realtors Warn of Short Sale Fraudsters
In Las Vegas, where foreclosures are running at some of the highest levels in the U.S. many real estate agents are calling themselves short sale experts in an effort to gain business in a bitter battle to survive, but many have little or no experience at selling homes for less than what is owed on… Continue reading Las Vegas Realtors Warn of Short Sale Fraudsters