Rich coal laced energy fields combined with growth in manufacturing are pushing Wyoming housing markets higher, despite economic troubles elsewhere. Home sales are rising in most of the state along with housing prices, which are being aided by record low mortgage rates. Home prices in the state’s largest city of Cheyenne are seeing healthy gains… Continue reading 2012 Wyoming Housing Market
2012 Missouri Housing Market
Homeowners in default on their mortgages and underwater mortgage holders trouble the housing markets in Missouri, pressuring home prices as foreclosures pile-up. Distress sales are increasing in most of the state even as many residents leave its major cities to seek work elsewhere. Foreclosures are a major issue in St. Louis, home to the Mississippi… Continue reading 2012 Missouri Housing Market
2012 Georgia Housing Market
For more than a decade Georgia boomed in most areas of the state and was one of the fastest growing regions in the U.S. but a bottom to the housing market appears to be developing in some areas, indicating that after years of negative news the area finally has something to look forward to in… Continue reading 2012 Georgia Housing Market
2012 Illinois Housing Market
Big job losses and business closings contribute to conditions in Illinois real estate markets as homeowners who have lost their jobs are learning that bankers’ are just around the corner to foreclose. The U.S. foreclosure crisis is devastating Illinois’ economy as mortgage holders flee their homes unable to reach modification agreements with their banks. The… Continue reading 2012 Illinois Housing Market
2012 Florida Housing Market
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