Real Estate News

March 7, 2010

  • Struggling Refinance Program Extended

    Struggling Refinance Program Extended
    The Obama administration recently announced that borrowers with little or no equity in their homes will have yet another year to take advantage of a refinancing program that so far has made little progress.
    The initiative, known as Home Affordable Refinance Program (HARP), was set to expire in June. But, so far, it [...]

March 3, 2010

  • Federal Home Buying Support Still Wanted

    Federal Home Buying Support Still Wanted
    According to a new poll by the National Association of Home Builders (NAHB), Americans remain strongly committed to federal support for home buyers.
    Roughly 68 percent of those polled said the government should continue to support housing, and 65 percent believe the government should be doing more to keep families from [...]

March 1, 2010

February 20, 2010

  • The Government Wants out of the Housing Market

    The Government Wants out of the Housing Market
    The US federal government is looking to get out of the housing market whether we are prepared for it or not. Actually, the scheduled date of the fed pull out has been narrowed down to be within a few months time.
    By this happening there will be an increase [...]

February 19, 2010

  • Foreclosure Activity Declines in January

    Foreclosure Activity Declines in January
    A total of 315,716 U.S. homes were mired in the foreclosure process in January, a 10% decline from foreclosure activity measured in December.
    That number is still 15% above the level of foreclosure activity reported in January 2009. The report shows that one in every 409 U.S. housing units last month received [...]

February 15, 2010

  • 7.2 Million U.S. Homes Now Behind on Payments

    7.2 Million U.S. Homes Now Behind on Payments
    According to the latest January 2010 Mortgage Monitor Report by Lender Processing Services, home loan delinquency rates in the U.S. have now surpassed 10 percent. Factoring in foreclosures in process, the total non-current rate sits at 13.3 %.
    When extrapolated to reflect the entire mortgage industry, this rate indicates [...]

February 12, 2010

  • New Proposals to Protect Homeowners

    New Proposals to Protect Homeowners
    The federal government is proposing new steps to try to protect people who may be struggling with their mortgage payments.
    According to a recent announcement from the Federal Trade Commission, it has proposed a rule that would prohibit companies from charging up-front fees for mortgage modification services. Under the proposal, companies would [...]

February 9, 2010

  • Pending Home Sales Showing Improvement

    Pending Home Sales Showing Improvement
    Recent data finds that pending home sales are holding steady over the past couple of months, while indicating that market conditions have improved considerably since the height of the recession.
    According to the National Association of Realtors, its pending home sales index increased to 96.6 in December, marking a 1 percent improvement [...]

February 6, 2010

  • Home Price Reductions Drop Again

    Home Price Reductions Drop Again
    According to a report released by Trulia.com, 21 percent of the homes for sale as of January 1, 2010 have experienced at least one price cut. This makes the second consecutive month that price reduction levels have decreased and the lowest level since Trulia started tracking price reductions in April 2009.
    The [...]

February 1, 2010

January 27, 2010

  • New Home Construction Cooled by Winter Weather

    New Home Construction Cooled by Winter Weather
    Ice storms in the Midwest, blizzards in the nation’s capitol and northeast, and a wet El Nino weather pattern out west has brought some wild winter weather across the United States. This arctic chill explains why building construction has been falling this winter.
    According to the Commerce Department, new home [...]

January 25, 2010

  • Fewer Homes on the Market in December

    Fewer Homes on the Market in December
    According to a report issued by ZipRealty there were 17,741 fewer homes listed for sale in December with reduced prices which represents a decline of 7.1 percent compared to November. This data is from a monthly survey of Multiple Listing Services (MLS) in 27 major U.S. markets conducted by [...]

January 8, 2010

  • Real Estate Investors Returning to the Market

    Real Estate Investors Returning to the Market
    Savvy investors are always the first to jump in a potentially profitable housing market and a new survey indicates things are heating up.
    More than 12 percent of homebuyers today plan to purchase a home as an investment, compared to less than half, only 5.6 percent, just seven months ago, [...]

January 1, 2010

December 27, 2009

  • Housing Starts Rebound in November

    Housing Starts Rebound in November
    Housing starts rose 8.9% in November to a 574,000 seasonally adjusted annual pace, the U.S. Commerce Department announced recently. A Bloomberg News economists' survey had expected housing starts to total a slightly higher 575,000 annualized rate for the month. They totaled a revised 527,000 annual pace in October, and a 586,000 [...]

December 19, 2009

  • FHA Wants to Tighten Limits

    FHA Wants to Tighten Limits
    The Federal Housing Administration is about to beef up the borrowing requirements for home buyers, a move that could dampen the fragile housing market's recovery. Home buyers are going to have to dig deeper in their wallets to purchase a home.
    Currently, borrowers are required to have a 3.5 percent cash down [...]

December 6, 2009

  • Existing Home Sales and Home Prices Up

    Existing Home Sales and Home Prices Up
    Existing home sales surged in October to the highest level in more than 2-1/2 years. The National Association of Realtors reported that existing home sales rose 10.1% last month to a seasonally adjusted annual rate of 6.1 million units, up from the downwardly revised rate of 5.54 million in [...]

December 1, 2009

November 11, 2009

  • Homebuyer Tax Credit Extended

    Homebuyer Tax Credit Extended
    The federal government’s first-time homebuyer tax credit was scheduled to expire Nov. 30. The credit, part of the Obama administration-backed economic stimulus package, rewards Americans for buying a home by cutting them a check for 10% of the purchase price up to $8,000.
    Analysts attribute close to 20% of home [...]

November 4, 2009

  • New Home Sales Fall 3.6%

    New Home Sales Fall 3.6%
    Sales of new homes dropped unexpectedly last month as the effects of the soon-to-expire current tax credit for first-time buyers started to wane.
    The Commerce Department said sales fell 3.6% to a seasonally adjusted annual rate of 402,000 from a downwardly revised 417,000 in August. Economists surveyed had expected a pace of [...]

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