Another day, another report from the Wall Street Journal about how home prices continue to drop. But perhaps this latest one has an extra-special attribute: time-travel. Home prices, it seems, are as low as they’ve been since 2002 or so. (It’s almost like the housing bubble never happened! Almost.) “Based on incomes, this is as…
It may be about time for the real estate market to turn around – at least, according to Fannie Mae and Freddie Mac. Since Bank of America called for a halt of foreclosure proceedings in early October, attitudes about the future of the real estate market have been pretty bleak. Investors prophesied a grim, lean…
Forbes.com heralded a grim forecast yesterday for potential homebuyers regarding mortgages and down payments. A poll conducted by the National Foundation for Credit Counseling asked consumers if they thought they could meet the down payment requirements in today’s market, and found that nearly half answered that they could not. The article goes on to point…
The deadline for the 2010 Homebuyer’s tax credit seems like a distant memory now, but how will the future real estate market fare? Now that the frenzy has died down, agents and homebuyers alike are curious as to what a credit-less future means for them. Each market varies from city to city, but here is…
A big change is coming for buyers of “flipped” homes. Previously, the Federal Housing Administration would not insure a mortgage on a home owned by the seller for less than 90 days. This edict kept investors, or “serial flippers” from inflating the prices of starter homes, sometimes with a bare minimum of repairs made to…
On their 2009 Profile of Home Buyers and Sellers, the National Association of Realtors released a list of primary reasons why home sellers have put their home on the market. Job relocation, low square footage, and change in family situation rank somewhat high on the list, but the report also showed that 2% of all…
Myth #1: Jumbo loan programs are no longer available, or they’re too expensive. With the recent turmoil in the mortgage market, it is true that rates on single Jumbo 30 year fixed loans (loan amounts over $417,000) have increased over the past couple months. However, it is still possible to structure your purchase or refinance…
Recently the media has been covering a lot of mortgage industry troubles, such as Countrywide Financial getting downgraded. On the other hand, the number of mortgage applications rose to a 3-month pead last week, driven by a rush to buy or refinance homes before lenders clamp down harder and approve fewer loans, reported by Reuters.…
Movoto just published their monthly market update for the month of July that shows real estate trends based on all the listing data from the MLS systems.A month ago, we took a look at foreclosure statistics in thisarticle, pointing out how the amount of foreclosures has been hitting a record high. One month later, we…
There has been a lot of discussions about foreclosure properties and articles written about this topic, such as foreclosures hitting record high and how people make money out of distressed properties. I have heard and seen people try to find out how to purchase foreclosure properties, and many of them find the process difficult. So…
Today HousingPredictor.com announced that they forecast more than 2 million homes will be foreclosed in the next 2.5 years. How bad is the situation in California? The foreclosure rate in California is definitely on the upswing the last few quarters, triggered by resets of ARM mortgages from a few years ago, increasing interest rates and…
