Re-invigorated by a special $10,000 state tax credit, the California home market has been experiencing a rebound and a drop in housing inventory on the market. More than half of all homes sold by real estate agents in the last year have received multiple offers. Historically, when California begins a rebound in home sales the… Continue reading California Burning Through Housing Inventory
Opinion Poll Shows Housing Market Damage Ahead
More than 2 out of 3 polled say the expiration of the federal home buyers’ tax credit will damage the housing market. The online survey asked respondents if the expiration of the U.S. government’s program would damage the market. Some 68% said it would hurt markets in their recovery from the real estate crash manipulated… Continue reading Opinion Poll Shows Housing Market Damage Ahead
Home Improvement Projects On Up Swing
By Cheryl Reams As homeowners decide to stay put and wait out the housing market in rising numbers, home improvement stores are seeing an increase in sales of carpet, vinyl and cheaper products to spruce up homes. The nation’s largest hardware stores are experiencing an upturn, despite economic turmoil. Contractors have slashed prices in order… Continue reading Home Improvement Projects On Up Swing
New FHA Guidelines Eliminate Possibility of Success
By Gary A. Poliakoff, Ryan Poliakoff and Kevin Chiu Plagued by the real estate crisis that is likely to top that of the Great Depression, the Federal Housing Administration (FHA) has implemented a new set of lending standards in efforts to clear the glut of millions of vacant and unsold condominiums across the country. However,… Continue reading New FHA Guidelines Eliminate Possibility of Success
Obama Moving Closer to Force Banks to Modify Mortgages
By Kevin Chiu U.S. Treasury Secretary Tim Geithner is frustrated with bankers and mortgage servicing companies, and he might even be bordering on being angry with his former colleagues in the banking industry. Geithner’s clear stated frustrations are leading to growing speculation in Washington, D.C. that the Obama administration may be moving closer to forcing… Continue reading Obama Moving Closer to Force Banks to Modify Mortgages
Majority Intend to Buy Real Estate Soon
Almost 2 out of 3 respondents to the latest Housing Predictor opinion poll say they plan on buying a home or other real estate in the next two years, apparently feeling that the bottom of the housing market is falling into place. The large majority of respondents feel more confident about real estate values rising… Continue reading Majority Intend to Buy Real Estate Soon
Record 19.2 Million U.S. Homes Vacant
A record 19.2 million U. S. homes are vacant, representing the highest number of residential properties that are vacant of all-time, according to the U.S. Census Bureau. The figure represents 14.5% of all the homes in America. The dismal figure was issued as part of the Census Bureau homeownership quarterly survey for the first quarter… Continue reading Record 19.2 Million U.S. Homes Vacant
Low Mortgage Rates Strengthen Home Market
By Kevin Chiu Mortgage interest rates remain near historic lows, despite rising .04% in the last week, according to the Mortgage Bankers Association, providing strength to the nations home market. Many banking analysts expected rates would rise when the Federal Reserve halted buying mortgage-backed securities to strengthen the economy. However, a sampling of ten major… Continue reading Low Mortgage Rates Strengthen Home Market
Upgrade in U.S. Housing Forecast
High unemployment is the biggest obstacle to the U.S. housing markets recovery as fewer people qualify to buy homes, but the imposing obstruction is being helped by a series of government programs and a private company working with some of the nation’s biggest mortgage lenders to keep homeowners in their homes. As a result, Housing… Continue reading Upgrade in U.S. Housing Forecast
Opinion Poll Finds No Bottom in Housing Market Yet
Since residential real estate decisions are emotionally driven the bottom of the housing market is far from materializing, according to the outcome of a new Housing Predictor opinion poll. The survey found that more than 2 out of 3 respondents say the bottom of the housing market has not yet materialized in their city or town. The… Continue reading Opinion Poll Finds No Bottom in Housing Market Yet