Foreign Real Estate Buyers Drive Recovery

By Mike Colpitts Cash flush foreign real estate buyers are driving the U.S. housing market into a recovery, producing $82.5 billion in sales in the last year alone. International residential sales are gaining momentum and are divided between recent U.S. immigrants and non-resident foreigners who are buying a piece of America at deep discounts. Low… Continue reading Foreign Real Estate Buyers Drive Recovery

Home Loans Fall, Despite Record Low Rates

Mortgage applications fell for the third consecutive week, but loans for home purchases increased, indicating pent up demand is starting to show as borrowers sign-up for record low mortgage rates in the midst of the busy summer home buying season. Mortgages for home purchases rose 3%, according to the Mortgage Bankers Association survey. Refinances, however,… Continue reading Home Loans Fall, Despite Record Low Rates

Foreclosure Filings Top 1-Million

By Ryan Jackson More than 1-million U.S. homes had foreclosure filings of some sort filed against them in the first half of the year ( 1,045,801), according to RealtyTrac. First half foreclosure activity increased in 20 states from a year ago, including hard hit Florida, California, Illinois, Indiana, South Carolina and upscale Connecticut. Final foreclosure… Continue reading Foreclosure Filings Top 1-Million

Building Fever Heats Up Miami

By Mike Colpitts A year of appreciating home and condominium values has sent developers scrambling to find land to build new developments on in Miami. The booming shape of real estate reality is flying high again in this picturesque waterfront city. The American Dream is alive and well in one of America’s great vacation spots.… Continue reading Building Fever Heats Up Miami

Home Prices Climb at 25 Year Clip

By Ryan Jackson Home prices increased at the fastest rate in 25 years during the spring selling season, according to real estate research firm CoreLogic. U.S. housing prices jumped an average of 1.4% during the month of June alone, the company said. The most substantial improvement in home prices has developed over the last three… Continue reading Home Prices Climb at 25 Year Clip

Home Buyer Traffic Tumbles

By Mike Colpitts Home buyer foot traffic in new housing developments tumbled in May, indicating future home sales are expected to weaken, according to the latest Campbell-Inside Mortgage Finance survey. The closely watched index fell from 51.6 in April to 44.8 in May demonstrating major weakness in new home sales are expected in coming months,… Continue reading Home Buyer Traffic Tumbles

Home Prices Rise 3 Straight Months

By Mike Colpitts Home prices rose for the third straight month in May across the U.S., according to real estate analytics company CoreLogic. On a year over year basis the firm said average prices rose 2.0%, and also increased 1.8% compared to a month earlier. The firm’s Housing Price Index, which tracks 100 of the… Continue reading Home Prices Rise 3 Straight Months

Banks Play Catch Up On Foreclosures

By Mike Colpitts Banks are playing catch up formally repossessing homes in judicial foreclosure states as they unwind a back-log of foreclosures from the robo-signing scandal. The foreclosure inventory remains at near all-time highs with 4.12% of all  U.S.  homes with mortgages in the foreclosure pipeline, according to Lender Processing Services. However, new problem loan… Continue reading Banks Play Catch Up On Foreclosures