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Sales of previously occupied homes plunged last month to the lowest level in 15 years, despite the lowest mortgage rates in decades and bargain prices in many areas.
July’s sales fell by more than 27 percent to a seasonally adjusted annual rate of 3.83 million, the National Association of Realtors said Tuesday. It was the largest [...]
Archive for the ‘Real Estate’ Category
Existing Homes Sales PLUNGE To 15-Year Low
Posted by admin2 on August 24th, 2010
Mortgage Fraud Is Rising, With a Twist
Posted by admin2 on August 24th, 2010
Adapting to Tighter Rules After Collapse, Scammers Turn to More Complex Plots
New data suggests that mortgage fraud—which got tougher to pull off after the collapse of the U.S. real estate market—is returning in a big way.
Data prepared for The Wall Street Journal by research firm CoreLogic, examining about seven million home loans made by hundreds [...]
Housing Fades as a Means to Build Wealth, Analysts Say
Posted by admin2 on August 24th, 2010
Housing will eventually recover from its great swoon. But many real estate experts now believe that home ownership will never again yield rewards like those enjoyed in the second half of the 20th century, when houses not only provided shelter but also a plump nest egg.
The wealth generated by housing in those decades, particularly on [...]
Posted in Real Estate 
Tags: Real Estate, Wealth Accumulation, What's after what comes next 
No Comments »Home Price Drop of 30% Possible for 2010
Posted by admin2 on April 12th, 2010
First American CoreLogic has released its latest residential real estate analysis here. Three important graphs from the report follow in this discussion.
Distressed Home Sales Increased in January
The first graph shows that distressed home sales have increased to 29% of all sales. This is high but less than a year ago.
Note the systematic increase in short [...]
Problem mortgages hit new high at 14 percent
Posted by lorenzo on November 23rd, 2009
Data mean foreclosures may not peak until next year
More than 14 percent of borrowers were in trouble on their mortgage during the third quarter, a new record, according to an industry survey released Thursday, which also suggests that the foreclosure rate is likely not to peak until next year as unemployment rates continue [...]
13 Things Your Home Remodeler Won’t Tell You
Posted by Staff Writer on July 10th, 2009
With business down it may be the perfect time to indulge in some home improvement projects. Read on for more secrets of home remodelers.
Business is down 16 percent. The good news for you: I’m returning calls and trimming prices.
High-end people will do smaller jobs we might have spurned a few years ago. Focus on projects [...]
Nationwide offers 125% mortgage
Posted by Staff Writer on July 10th, 2009
The Nationwide Building Society has introduced a mortgage allowing borrowers to take loans worth 125% of the value of the home they are buying.
It will only be available to existing customers in negative equity who want to move house.
Negative equity means that the value of someone’s home is less than the amount they owe on [...]
Undocumented income makes it hard to get a loan
Posted by Staff Writer on July 9th, 2009
With more than $300,000 in combined annual income, tens of thousands of dollars in the bank and credit scores that top 800, Jennifer France and her partner would seem like ideal candidates for a mortgage refinance.
But when they applied to swap an interest-only loan on their nearly $1 million San Carlos home for a 30-year [...]
Extremes: The Most Expensive Home in America
Posted by Staff Writer on July 7th, 2009
What does William Randolf Heart’s house have that makes it worth $165 million?
Got a spare $165 million? This could be the house for you. Actually, calling it a house doesn’t do it justice. It’s a 72,000-square-foot, six-building, six-and-a-half-acre Beverly Hills estate once owned by newspaper baron William Randolph Hearst — and that asking price is [...]
Mortgage defaults in America: Can pay, won’t pay
Posted by Staff Writer on June 30th, 2009
It is easier to dump a home loan if a friend has done so too
HOUSE prices in America have fallen so far that as many as one in five households have mortgage debt greater than the value of their homes. In a few states, borrowers are not liable for the shortfall between an unpaid loan [...]
