Sep 13
Undeveloped Land in High Demand. Investors have a new target in real estate: undeveloped land. They’re snatching up undeveloped land heavily discounted in bankruptcy proceedings from developers and banks that foreclosed on the builders once they ran out of money for their projects, Reuters reports. The investors then resell the land for up to 20 …
Sep 13
Back-to-School Mentality Drives Housing for Fall. Forty percent of real estate agents and brokers say the end of vacation season will likely bring a refocus on real estate and a primary driver behind fall home sales, according to a recent survey. ERA Real Estate has dubbed it the “ back-to-school mentality” for the real estate …
Sep 12
Home prices have Progressed, But Have they Recovered? Home prices have posted some of their strongest gains this year in nearly six years. But while prices have likely hit bottom, the public shouldn’t confuse that with a full recovery. A lot more still has to happen to get to that point, analysts say. For one, …
Sep 10
Smaller Banks Now Under Fire for Foreclosure Abuses. After a landmark mortgage settlement against the nation’s largest banks earlier this year, the U.S. state attorneys general are now investigating smaller banks for alleged foreclosure mishandlings. The U.S. state attorneys general are reportedly targeting U.S. Bancorp, PNC Financial Services Group Inc., SunTrust Banks Inc., and HSBC …
Sep 10
Homes Are Selling Faster. Sales are quickening their pace as the time to sell a home decreases and falls more in line with a “balanced” housing market, according to new research by the National Association of REALTORS®. The median time a home listed for sale was on the market in July was 69 days, down …
Sep 06
Housing Indexes Point to Pricing Rebound. Several housing indicators in recent months are all revealing a similar trend: Home prices are rising in most markets across the country. The latest housing index from CoreLogic, based on July multiple listing service data, shows national home prices are up 3.8 percent from a year ago in July. …
Sep 06
Banks Open to Short Sales. To meet the terms of the $26 billion mortgage settlement, the nation’s five largest banks are becoming more agreeable to short sales, Inman News reports. The five banks — Bank of America, Citi, JPMorgan Chase, Ally Financial, and Wells Fargo — have issued most of their relief from the settlement …
Sep 05
Buyer Pet Peeves When Touring Homes. What makes home buyers grimace when they tour a home for-sale? Don’t let one of your listings fall prey to one of these common buyer pet peeves. A recent article at Zillow highlights some of the following turn-offs: Pets: Dirty kitty litter boxes or dog toys scattered in a …
Sep 04
Foreclosure Prices Rise, Highest Increase Since 2006. Foreclosure sales prices rose 6 percent in the second quarter and were up 7 percent year-over-year, RealtyTrac reported this week. This marks the largest annual increase in foreclosure -related sales prices since 2006. During the second quarter, the average foreclosure -related sales price was $170,040. Still, foreclosure and …
Sep 04
Mortgage Rates Reverse Course. Mortgage rates fell across the board this week, after having inched higher the last few weeks from all-time lows, Freddie Mac reports in its weekly mortgage market survey. Here’s a closer look at Mortgage rates for the week ending Aug. 30. 30-year fixed-Mortgage rates: averaged 3.59 percent, with an average 0.6 point, …
Aug 31
Foreclosed Homes to Blame for Spread of West Nile Virus? A home owner living in the Los Angeles area says that the abandoned, foreclosed home next door gave her the West Nile virus. Debbie Davis says the foreclosed home has had an algae-green pool for months, and despite her numerous calls to the city code-enforcement officials …
Aug 31
Mortgage Debt cut by more Home Owners. Mortgage debt is on the decline, according to a new report by the New York Federal Reserve Bank. The New York Fed credits the decrease, as well as the fact that fewer Americans are late on their mortgage payments, to an increase in home owners who have refinanced …
