Home Builders Confidence Reaches 5 Year High

By Ryan Jackson Home builder confidence rose to the highest point in nearly five years in June as builder sentiment grew with an increase in walk-in traffic. The National Association of Home Builders Index reached 32, hitting its highest level since the housing downturn started in May of 2007. The components measuring sales expectations in… Continue reading Home Builders Confidence Reaches 5 Year High

Miami Heat Forward Puts Home Up for Auction

By Ryan Jackson Showing that timing is everything, Miami Heat forward Mike Miller, who is battling with his team in the east coast conference series against the Boston Celtics to get into the NBA finals, is putting his Miami mansion up for auction. Miller, whose team lost to the Celtics last night, which makes The… Continue reading Miami Heat Forward Puts Home Up for Auction

Watch Dog to Audit Freddie Mac & Fannie Mae

By Mike Colpitts The chief U.S. government watch dog, the Office of Inspector General, will conduct a full audit of Freddie Mac and Fannie Mae’s procedures to sell-off foreclosures. The announcement was included in a government white paper released without fanfare last week. The nation’s mortgage giants have been bailed out by tax payers in… Continue reading Watch Dog to Audit Freddie Mac & Fannie Mae

FDIC Bank Failures Decline

By Mike Colpitts Only 24 U.S. banks have failed so far and had to be closed by the Federal Deposit Insurance Corporation this year, the largest decline since the financial crisis started in 2008. The FDIC attributed the lower number of bank takeovers to an improving economy and an unwinding of bad mortgage debt. “This… Continue reading FDIC Bank Failures Decline

Short Sales Overtaking Foreclosures

By Mike Colpitts Bank assisted short sales or homes that sell at less than what is owed on a mortgage are overtaking foreclosed homes lenders put on the market. The development doesn’t come as a surprise to those involved in the real estate industry. Rather, they expected the transition as part of the U.S. housing… Continue reading Short Sales Overtaking Foreclosures

Mortgage Delinquencies Jump

By Mike Colpitts Homeowners in trouble on their mortgages jumped as more homes joined the long line of defaults in May showing another sign the U.S. economy is weakening, according to real estate analytics company Lender Processing Services. The slim 1.1% monthly jump in defaults is a troubling sign for the  U.S.  housing market, still… Continue reading Mortgage Delinquencies Jump

Half of Homeowners Spend $75,000 on Housing Expenses Annually

By Mike Colpitts Nearly half of U.S. homeowners with a mortgage spent $75,000 or more on housing expenses in 2010, according to data provided by the U.S. Census Bureau. The staggering amount represents 49.2% of homeowners with a mortgage in 2010, the most current government figures available. The just uncovered statistic shows just home many… Continue reading Half of Homeowners Spend $75,000 on Housing Expenses Annually

Foreclosures Jump Resumes After Robo-Signing Slowdown

By Mike Colpitts Foreclosure starts rose for the first time in more than two years in May, signaling a resumption of formal bank repossessions of homes with mortgages in default after months of slower foreclosures. Initial filings were lodged against 205,990 U.S. residential properties, according to RealtyTrac. The increase accounted for a 9% hike in… Continue reading Foreclosures Jump Resumes After Robo-Signing Slowdown

Shadow Inventory Declines, But Still Looms

By Mike Colpitts The shadow inventory or the number of homes that lurk uncounted by banks and other mortgage lenders in the abyss of the troubled housing market is shrinking as banks offer more troubled homeowners, including landlords short sales for the first time since the U.S. housing crisis started. Estimates of the shadow inventory,… Continue reading Shadow Inventory Declines, But Still Looms