The housing market is finally making a turn around in Florida, despite the state being racked by one of the highest foreclosure rates in the U.S. Miami home and condo sales are reaching record numbers monthly as the city plays host as the nation’s major ambassador to cash rich vacation home buyers. Condominium and home… Continue reading 2012 Florida Housing Market
2012 New York Housing Market
Economic turmoil, high state taxes and sluggish home sales make it likely that any sort of a recovery in the New York City housing market is a long way off, but real estate markets outside of the metro area are already experiencing better times. Sliding home sales in the Burroughs of New York, telegraph housing… Continue reading 2012 New York Housing Market
2012 Rhode Island Housing Market
Propelled by low mortgage rates, home sales are beginning to improve in Rhode Island almost five years after the real estate market collapsed. The growing sale of homes is being driven by a combination of lower home prices, low interest rates and housing affordability. Housing prices have been falling since the market hit its peak… Continue reading 2012 Rhode Island Housing Market
2012 Minnesota Housing Market
A reduction in distressed home sales, especially foreclosures is sending Minnesota housing markets into a recovery sooner than most of the rest of the U.S. An increase in drastically discounted real estate sales, however, with banks in short sales, in which homeowners sell for less than what they owe on their mortgages are helping to… Continue reading 2012 Minnesota Housing Market
Record Low Mortgage Rates Hit
By Mike Colpitts Despite a tight lending market, mortgage rates hit an all time record low reaching an average of 3.87% on the 30-year fixed rate loan, according to Freddie Mac. The rate broke the record average of just 3.88% struck two weeks ago. Rates fell as a result of sluggish consumer demand for home… Continue reading Record Low Mortgage Rates Hit
Three Mortgage Officers Sentenced to Federal Prison
By Mike Colpitts Three mortgage officers and a title agent have been sentenced to federal prison for their parts in a nationwide reverse mortgage fraud scheme that lasted nearly a year, and took advantage of dozens of senior citizens, taking in more than $2.5-million. Louis Gendason, 42, was sentenced to 70 months in federal prison… Continue reading Three Mortgage Officers Sentenced to Federal Prison
Time Running Out for Short Sales
By Mike Colpitts Time may be running out for homeowners hoping to do a short sale on their home and not get hit with a big federal tax bill because they had to walk away from their mortgage. The Mortgage Forgiveness Debt Relief Act approved by Congress is scheduled to expire at the end of… Continue reading Time Running Out for Short Sales
2012 South Dakota Housing Market
While the U.S. housing market is in the shambles in most of the country, South Dakota provides a rare place in Americana. Home values in all of the state are rising and good old conservative lending practices are driving the increase with mortgage interest rates that are the lowest in decades. In Rapid City homes… Continue reading 2012 South Dakota Housing Market
2012 Colorado Housing Market
Home sales are picking up in Colorado as lower home prices and mortgage rates drive more buyers into the housing market. The rise in sales will eventually lead to higher prices paid for homes and other properties, but as the region struggles with the economic fallout of the financial crisis the recovery isn’t expected to… Continue reading 2012 Colorado Housing Market
2012 Washington Housing Market
Statistics don’t capture the reality of people being dislocated and the lives that are massively changed as a result of the real estate crash. But housing market forecasts do provide a guide-post for people to understand where we are in the cycle. And if you are in Washington state or thinking about relocating there, you… Continue reading 2012 Washington Housing Market