In the extreme north-west corner of North America, Alaska is disconnected from the contiguous United States, and it has little association with the rest of the country when it comes to hard times in the housing market. Alaska home prices are maintaining their value much more than most of the rest of the nation. Sale… Continue reading 2012 Alaska Housing Market
Real Estate Markets Most Likely To Recover
The five most likely U.S. metropolitan real estate markets to recover in 2012 are demonstrating signs of economic recovery in at least a couple of areas, despite the troubled U.S. economy. However, there are few other similarities aside from growing employment and a climate for change. A sense of cautious optimism prevails in Miami, Florida… Continue reading Real Estate Markets Most Likely To Recover
Private Equity Firms Purchase Fannie Mae Foreclosures
By Kevin Chiu The bulk sale of foreclosed Fannie Mae homes to private equity firms will place foreclosures right back into the very hands of some of the banks and investors which triggered the foreclosure crisis by manipulating financial markets. Fannie Mae is inviting investors to become joint venture partners in the biggest bulk sale… Continue reading Private Equity Firms Purchase Fannie Mae Foreclosures
2012 New Jersey Housing Market
Reeling from a major decline in home prices, New Jersey homeowners are hoping that the worst of the real estate crash is over. But a massive inventory of foreclosures that have not yet been formally taken back by the banks sit vacant waiting as part of the shadow inventory to be accounted for by lenders.… Continue reading 2012 New Jersey Housing Market
Another $100-Billion Underwater Housing Loss
By Kevin Chiu Politics is a strange and nasty business and the business of walking the fence during this election year is increasingly damaging the U.S. economy. In order to help mend the economy, the U.S. will eventually make the tough but inevitable decision to cut principal on underwater mortgages, and take an estimated $100… Continue reading Another $100-Billion Underwater Housing Loss
2012 Nebraska Housing Market
Nearly five years after the housing market in the U.S. collapsed the sting of the market crashing is barely felt in Nebraska. Home prices never hit double-digit appreciation in any market in the state, saving it from the foreclosure crisis and an economy that became unhinged. With unemployment levels at one of the best rates… Continue reading 2012 Nebraska Housing Market
Mortgage Rates Jump on Fewer Applications
By Mike Colpitts Banks and mortgage companies raised mortgage rates on new borrowers this week as the demand for new home loans and refinancing sunk, according to Freddie Mac. The rate on the benchmark 30-year fixed rate mortgage saw a jump to 3.98%, a tenth of one-percent higher than last week. The rate was at… Continue reading Mortgage Rates Jump on Fewer Applications
Mortgages Get More Expensive
By Mike Colpitts Congressional budget tightening has resulted in the loss of the homeowners’ mortgage insurance federal tax write-off. The loss means that homeowners holding millions of mortgages will lose the ability to take hundreds of dollars a year off their income taxes. The write-off is a crucial loss for teetering homeowners struggling to pay… Continue reading Mortgages Get More Expensive
Home Sales Rebound Sharply
By Kevin Chiu Pushed by record low mortgage rates and home prices that have fallen drastically from their peak highs, home sales are experiencing sharp rebounds in the Northeast and Midwestern regions of the U.S., according to the National Association of Realtors. Existing home sales jumped 10.7% to an annualized pace of 620,000 units in… Continue reading Home Sales Rebound Sharply
SEC Charges Bank CEO with Misleading Investors
By Mike Colpitts Almost five years after the housing market collapse, the Securities and Exchange Commission (SEC) charged a bank CEO with misleading investors about growing problems over its real estate loan portfolio. The SEC said BankAtlantic Bancorp CEO Alan Levan made misleading statements in public filings and earnings calls in order to hide the… Continue reading SEC Charges Bank CEO with Misleading Investors