Home Ownership Rate to Rise Soon? Another sign economic recovery: The home ownership rate is no longer falling. It remained unchanged from the previous quarter, standing at 65.5 percent in the third quarter, the Commerce Department reported this week. A year ago, the home ownership rate stood at 66.3 percent. The home ownership rate is …
Category: News
Nov 02
Foreclosures on homes Make Less of a Dent in Market
Foreclosures on homes Make Less of a Dent in Market. Foreclosures continue to fall as the number of short sales inch up, according to CoreLogic’s National Foreclosure Report for September. “The continuing downward trend in foreclosures along with a gradual clearing of the shadow inventory are signs of stabilization and improvement in the housing market,” …
Nov 01
Freddie Mac & Fannie Mae Offer Mortgage Aid to Sandy Victims
Freddie Mac & Fannie Mae Offer Mortgage Aid to Sandy Victims Borrowers with Freddie Mac or Fannie Mae-backed loans who suffered damage to their homes by Hurricane Sandy may qualify for temporary forbearance on their mortgages. Affected home owners with Freddie Mac-backed loans may be eligible for forbearance for up to a year on their …
Oct 31
Appealing to Your Littlest Clients: children
Appealing to Your Littlest Clients: children. Real estate agents need to keep children in mind when marketing to families and should present more information than the number of bedrooms. Try marketing not just the home, but also provide information about nearby parks and green spaces, compile data about local schools and sports programs, and link …
Oct 30
Worst May Be Over for Foreclosure Epidemic
Worst May Be Over for Foreclosure Epidemic Foreclosures have fallen in about 62 percent of the country’s 212 largest metro markets in the third quarter, leading to more stability in the housing market recovery, RealtyTrac reports in its latest foreclosure report. What’s more, RealtyTrac reports that foreclosure activity in 58 percent of the major markets …
Oct 30
Homebuilders Need More Land, Analysts Say
Homebuilders Need More Land, Analysts Say. Homebuilders need to “replenish their land inventories” to respond to the projected growth in buyer demand within the next few years, say Moody’s Investor Service analysts. Part of what’s hampering them from doing so: They lack revolving lines of credit due to the housing downturn and applying for more …
Oct 30
Home Owners Near Foreclosures Feel Big Loss Too
Home Owners Near Foreclosures Feel Big Loss Too Home owners living near a foreclosed property have faced about $2 trillion in losses to property values, according to a new report by the Center for Responsible Lending, which analyzed the impact of foreclosures on properties within one-eighth mile of a home in foreclosure. “Communities with high …
Oct 30
Remodeling Activity Bounces Back to 2005 Levels
Remodeling Activity Bounces Back to 2005 Levels More home owners are tackling remodeling jobs once again, as the Remodeling Market Index heats up and climbs to its highest point since the third quarter of 2005, the National Association of Home Builders reports. The greater momentum in remodeling is yet another positive trend recently trickling through …
Oct 26
Federal Reserve vows to keep Rates Low
Federal Reserve vows to keep Rates Low. The Federal Reserve acknowledged Wednesday that segments of the economy are looking up, particularly housing and household spending. However, the Fed said it will continue to press forward with its stimulus campaign — which includes a move that is lowering mortgage rates — until the economy shows more …
Oct 25
New-Home Sales Surge 5.7% in September
New-Home Sales Surge 5.7% in September New-home sales posted their largest gain in more than two years in September, the Census Bureau reported Wednesday. New-home sales rose 5.7 percent in September over August and are 27.1 percent higher year-over-year. The median price of a new home in September was $242,400, up 11.7 percent from a …
Oct 25
Non delinquent Borrowers Soon to Be Eligible for Short Sales
Non delinquent Borrowers Soon to Be Eligible for Short Sales Mortgage giants Fannie Mae and Freddie Mac have issued new rules, which will take effect Nov. 1, that will allow short sales for underwater but Non delinquent Borrowers who have never missed a mortgage payment. Previously, Fannie and Freddie allowed only home owners who had missed …
Oct 24
Housing Shortages Plague Market
Housing Shortages Plague Market Buyer demand is up, but there aren’t enough homes available to buy, according to the National Association of REALTORS®, which blamed a recent drop in home sales on Housing Shortages of for-sale homes. “Recent price increases are not deterring buyer interest,” notes Lawrence Yun, NAR’s chief economist. “Rather, Housing Shortages are limiting sales, …
