Has the Housing Market Finally Reached Bottom? If home buyers or home owners are waiting for the housing market to hit bottom before acting, they may have already missed it. “The crash is over,” Mark Zandi, chief economist for Moody’s Analytics Inc., told Bloomberg about the real estate market. “Home sales—both new and existing—and housing …
Category: News
Apr 27
Fed Renews Vow to Keep Interest Rates Low
Fed Renews Vow to Keep Interest Rates Low. The Fed voted this week to continue its near-zero interest rates policy for the next quarter and likely much longer. The move will keep mortgage interest rates low in the coming months, if not years. In recent weeks, mortgage interest rates have hovered around record lows, which …
Apr 26
5 Ways to Sell a Home Faster, For More Money
5 Ways to Sell a Home Faster, For More Money. 24/7 Wall St. recently asked real estate experts and several real estate organizations to weigh in on how sellers can get their house sold at the best price and in the shortest amount of time. Here’s what they had to say as the best 5 Ways …
Apr 25
More Single Family Homes Turned Into Rentals
More Single Family Homes Turned Into Rentals. As the number of for-sale homes listed on the multiple listing service (MLS) drops, the number of single family homes up for rent has been gradually increasing, RISMedia reports. Single family home rentals are a growing business, as more investors buy up foreclosures at bargain prices and then …
Apr 23
Having A Good School Nearby Improves Home Values
Having A Good School Nearby Improves Home Values. Living near a high-scoring public school district can raise home values $205,000 higher compared to homes located in neighborhoods with low-scoring school districts, according to a new study by Brookings Institution. Brookings analyzed the nation’s 100 largest metro areas to find the differences between living near a …
Apr 20
Short Sales Start to Outpace Foreclosures
Short Sales Start to Outpace Foreclosures. Banks are agreeing to more short sales, and for the first time, short sale transactions are exceeding foreclosure deals, according to the most recent housing data from Lender Processing Services (LPS) Inc. In January, short sales made up 23.9 percent of home purchases, according to LPS. Meanwhile, foreclosures made …
Apr 18
Foreclosure Scams Rise Nearly 60%
Foreclosure Scams Rise Nearly 60% Mortgage foreclosure scams — which seek to dupe struggling home owners with offers to save them from financial troubles — have soared nearly 60 percent this year. Scammers are increasingly using federal programs, like refinance programs such as HARP and HAMP, to try to trick home owners, reports the Homeownership …
Apr 17
Fading ‘Fear Factor’ Among Home Buyers?
Fading ‘Fear Factor’ Among Home Buyers? The real estate market is thawing this spring. Following five years of dismal sales and falling prices, the housing market is starting to see a turnaround, according to housing surveys, agent reports, and economists. Home buyers are returning to take advantage of record housing affordability while investors are buying …
Apr 16
15-Year Mortgage Rates Dive to Lowest on Record
15-Year Mortgage Rates Dive to Lowest on Record The 15-year fixed-rate mortgage, often the top choice of home refinancers, reached a new all-time record low of 3.11 percent this week, Freddie Mac reports in this week’s mortgage market survey. The 30-year fixed-rate mortgage also sank lower this week, hovering near it’s all-time low. “Fixed mortgage …
Apr 13
What to Do When a Home Lingers on the Market
What to Do When a Home Lingers on the Market. While the supply of homes has decreased from a 8.6-month supply to a 6.4-month supply in the last year, some home owners are still seeing their home linger on the market. When you can’t get a serious bite from a buyer, here are three interventions …
Apr 12
Buyer Urgency Improves, More See Now Good Time to Buy
Buyer Urgency Improves, More See Now Good Time to Buy More home buyers may jump off the sidelines this spring as they get more urgent about purchasing a home, fearing that home price and mortgage rate increases are on the horizon. Housing surveys in recent weeks have shown that more Americans are seeing now a …
Apr 10
Did High Gas Prices Fuel the Housing Crisis?
Did High Gas Prices Fuel the Housing Crisis? “High gasoline prices provided the trigger that burst the [housing] bubble,” says JunJie Wu, an Oregon State economist and one of the authors of a new study that blames high gas prices as the main culprit for the housing crisis that started in 2007. “The theory recognizes …
