Where to Move, Get a Job & Buy a Home in 2012

By Mike Colpitts The hard hit economy is mending in some areas of the U.S., while other regions continue to suffer through the dregs of a housing market still in a downturn. But among all the places that are on the mend there are a handful of fairly solid cities where you might just want… Continue reading Where to Move, Get a Job & Buy a Home in 2012

Home Affordability Reaches 1971 Level

By Mike Colpitts Homes are more affordable to purchase than they have been since 1971 as a result of falling home prices, according to the U.S. Department of Housing and Urban Development (HUD). Despite record low mortgage rates, the downward trend in home values is sustained in the majority of the U.S. The best housing… Continue reading Home Affordability Reaches 1971 Level

Cash Buyers Pushing Home Prices Lower

By Mike Colpitts Cash buyers are putting undue downward pressure on home prices, and sending the values on homes much lower than would otherwise be developing, according to a survey by Campbell Inside Mortgage Finance. The firms Housing Pulse Tracking Survey is taken monthly. The December survey also showed that many of the purchasers are… Continue reading Cash Buyers Pushing Home Prices Lower

The Next Big Real Estate Boom Includes Oil

By Mike Colpitts The next big real estate boom might not be in such a pretty place – unless you consider shale formations of grey crumbling rock a thing of beauty. But an unlikely region of the remote northern U.S. holds a fortune for America’s future. It’s the biggest oil discovery since Prudhoe Bay, Alaska… Continue reading The Next Big Real Estate Boom Includes Oil

Dirty Money Trail From Wall Street to Main Street

By Mike Colpitts The dirty money trail left in the wake of the financial crisis leads from Wall Street to Washington, D.C. all the way to Main Street. No other single factor has had as much of an impact on the collapse of the U.S. housing market as members of Congress lining their pockets with… Continue reading Dirty Money Trail From Wall Street to Main Street

Housing Market Bottoms Hit as Home Values Escalate

By Mike Colpitts Following years of hard times, declining home values and a record volume of foreclosures, the housing market is finally hitting the bottom in at least some U.S. cities, and it can’t come soon enough for plenty of others. North Dakota, South Dakota and parts of Texas are booming with oil and natural… Continue reading Housing Market Bottoms Hit as Home Values Escalate

Real Estate Sales Jump to End Year Higher

By Mike Colpitts The year ended with a bang in real estate as existing home sales jumped 5% in December to end 2011 with the third straight month of higher sales, according to the National Association of Realtors. Low mortgage rates and lower home prices pushed sales to a seasonally adjusted rate of 4.61 million… Continue reading Real Estate Sales Jump to End Year Higher

Mortgage Rates to Stay Near Record Lows

By Mike Colpitts Mortgage rates, hovering at record lows for nearly three weeks, should remain close to their all-time low levels for most of at least 2012. That’s the evaluation of Housing Predictor analysts after reviewing rate levels and the challenges the U.S. economy is facing. In an effort to keep mortgage rates low and… Continue reading Mortgage Rates to Stay Near Record Lows

Refinances Leap to New High on Low Mortgage Rates

By Kevin Chiu Refinancing mortgages leaped to a new high as homeowners came out in force to obtain lower mortgage rates prompted by the recently introduced Obama administration refinance program, according to the Mortgage Bankers Association. The jump in loan applications came as borrowing costs hit record low rates. Refinances saw a leap of 26.4%… Continue reading Refinances Leap to New High on Low Mortgage Rates