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 …
Category: Real Estate Tips
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, …
Oct 24
Fannie Mae on Housing: The Worst is Behind Us
Fannie Mae on Housing: The Worst is Behind Us Fannie Mae economists say they believe home prices “hit bottom” earlier this year and that prices and sales will continue to move up as more consumers enter the housing market. Economists with the mortgage giant are forecasting about a 9 percent rise in home sales this …
Oct 23
Home Inventories Are Selling Faster
Home Inventories Are Selling Faster. Home Inventories of for-sale homes aren’t the only thing that is dropping. The amount of time homes are staying on the market is growing shorter as well—down 11 percent in the last year—according to the latest Realtor.com data. Home Inventories were listed on average 95 days, according to September housing data. That …
Oct 23
Home builders may benefit from the drop in distressed properties
Home builders may benefit from the drop in distressed properties. “Fitch: Home builders to Get Boost From Falling Foreclosures” Home builders may benefit from the drop in distressed properties in recent months, which might spur greater activity in new-home construction, according to a new report by Fitch Ratings. Distressed home sales have hampered home prices …
Oct 19
Prevent a House Fire
Prevent a House Fire in 5 different ways. House fires are the number-one disaster threat to homeowners. Between 350,000 and 400,000 house fires occur each year in the United States. Unlike natural disasters such as tornadoes and floods, house fires are often preventable. Observe National Fire Prevention Week this year by taking these fire-prevention steps to …
Oct 18
Home builders Grow More Confident About Housing Recovery
Home builders Grow More Confident About Housing Recovery. Home builders confidence inched slightly higher in October, bringing it to its strongest level since June of 2006, according to the National Association of Home Builders/Wells Fargo Housing Market Index. The October gain also marks the sixth consecutive month for increases in the index, which measures builder confidence …
Oct 17
Housing Appraisals Remain Big Hurdle.
Housing Appraisals Remain Big Hurdle. Housing Appraisals have been blamed on derailing a lot of sales in recent years. In fact, more than one-third of REALTORS® recently reported that deals were canceled, delayed, or renegotiated to a lower price due to a low appraisal. The National Association of REALTORS® has spoken out against faulty Housing Appraisals, …
