Increased Lending, Short Sales Necessary to Reduce High REO Inventories, Say REALTORS®. Improving access to affordable mortgage financing for qualified home buyers and investors and committing additional resources to loan modifications and short sales will help reduce current and future inventories of real estate owned (REO) properties held by government agencies, according to the National …
Tag: News
May 25
Mortgage Applications Rise Again on Low Rates
Mortgage Applications Rise Again on Low Rates. Record low interest rates continue to pump up Mortgage Applications volume, as more borrowers try to take advantage. Mortgage applications increased 3.8 percent for the week ending May 18, the Mortgage Bankers Association reports. A boost in more home owners refinancing their mortgages was attributed to the rise last …
May 24
What May Delay Some Housing Markets’ Recovery
What May Delay Some Housing Markets’ Recovery. The difference in how states handle foreclosures may determine how quickly their housing markets make a full recovery, according to a new report by Capital Economics. States with nonjudicial foreclosure markets — where foreclosures can be approved outside the court system — are seeing housing prices stabilize faster …
May 23
What Does It Take to Get a Loan Today? A Lot!
What Does It Take to Get a Loan Today? A Lot! One of the biggest obstacles home buyers are facing is qualifying for financing, and a new report by the Federal Reserve shows exactly how big of struggle potential borrowers face. According to a new Federal Reserve report surveying banks, the report found that most banks …
May 22
Housing Affordability Reaches Record Highs
Housing Affordability Reaches Record Highs. For the median-income family, buying a home has never been more affordable, new surveys by the National Association of REALTORS® and National Association of Home Builders show. Housing affordability reached a record high for the second-straight quarter in the first three months of this year, the National Association of Home …
May 21
Housing Starts Post New Gains, Signs of Healing
Housing Starts Post New Gains, Signs of Healing. Builders broke ground on more homes last month as housing starts jumped 2.6 percent nationwide in April over March, the Commerce Department reported this week. The single-family sector saw a 3 percent increase in housing starts in April, while multifamily construction projects saw a 3.2 percent rise. …
May 18
Foreclosures Plummet to 5-Year Lows
Foreclosures Plummet to 5-Year Lows. For the third consecutive month, foreclosure filings dropped, sinking to their lowest level since July 2007, according to RealtyTrac’s April report on nationwide foreclosure activity. Foreclosure activity, which includes default notices, scheduled auctions, and bank repossessions, fell 5 percent from March to April and were down 14 percent year-over-year. “More …
May 17
Builders Get More Confident About Improving Market
Builders Get More Confident About Improving Market. “Firming home values, improving employment, and low mortgage rates” are driving greater optimism over a recovery taking shape in the new-home market, says David Crowe, chief economist for the National Association of Home Builders. Builder confidence for the market of newly built single-family homes rose five points this …
May 16
Lenders Put Borrowers Through More Scrutiny
Lenders Put Borrowers Through More Scrutiny. Home buyers and refinancers applying for a mortgage are being caught off guard in what all lenders are asking for when approving a loan. The Wall Street Journal reports an incident where a borrower was even asked for a copy of her divorce decree — from two years ago …
May 15
Make Sure Selling Incentives Don’t Break the Rules
Make Sure Selling Incentives Don’t Break the Rules. Some housing deals are coming with sweet incentives for the real estate agents who can bring in a buyer, everything from big bonuses to fancy cars. But if you’re not careful, you might get in trouble for steering, some real estate professionals warn. A home seller in …
May 14
Housing: The one bailout America could really use
Housing: The one bailout America could really use. MONEY magazine) — Laurie Goodman is an apolitical number cruncher who has spent most of her 28-year career out of the public view, studying the minutiae of mortgage-backed securities (MBS) for big investment banks. She’s long been a star among Wall Street insiders, however. She holds the …
May 11
Attract Buyers With A Master Bedroom Suite
Attract Buyers With A Master Bedroom Suite. Kitchens and bedrooms are both very important rooms in a home. It’s in these two rooms where our basic needs are satisfied but they are also areas of a home that attract buyers for more than just what’s done in these rooms: eating and sleeping. The master bedroom …
