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real estate outlook: Rate of Foreclosure Still High - 12/02/10 03:37 PM
The topic of foreclosure has been on the minds of many Americans as the market makes it way towards recovery.
According to the Mortgage Bankers Association, the mortgage delinquency rate declined in the third quarter.
They report that in the United States, it "declined last quarter amid hints of improvement in the job market, but headwinds from defaults and a rising rate of new foreclosure applications keep the housing outlook muddied."
Still, some experts say the winter will continue to be cold for many fearing default.
Zillow.com reports that foreclosure liquidations have reached a new peak, with over 1.17 of … (3 comments)
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real estate outlook: Real Estate Outlook: Growth Remains Sub-Par - 12/01/10 04:06 PM
The National Association of Business Economics' latest report has revealed that projections for GDP growth remains in the first quarter of 2001 remains "sub-par". Concern about federal debt, unemployment, and business regulation ruled the NABE panel, causing experts to forecast only moderate growth in 2011.
The NABE also reports that "consumer spending is expected to remain modest throughout the forecast horizon due to weak job gains, persistently high unemployment, and negligible growth in household net worth."
On the bright side -- the chances of the economy slipping back into recession are considered low.
The housing market, however, continues to struggle. The National Association … (0 comments)
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real estate outlook: Real Estate Outlook: Gloomy Numbers and Mixed Forecast - 11/24/10 02:31 PM
It's a mixed, and somewhat gloomy, forecast for the housing market this week.
Concerns over the Fed's announcement to buy up Treasury bonds had far reaching effects. According to The New York Times, "When the United States Federal Reserve announced last week that it would buy $600 billion in Treasury bonds to help bolster the economy, it quickly came under attack from Germany, Brazil and China, which said America was trying to devalue the dollar to the detriment of other nations’ exports." Others worry it may undermine the global economic recovery.
Analysts also contend that the Fed's actions could … (0 comments)
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real estate outlook: Mortgage Rates Rise For the First Time in Eight Weeks - 11/22/10 03:21 PM
McLean, VA – Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which found that the 30-year fixed-rate mortgage (FRM) and the 15-year (FRM) rose dramatically this week, as did the 5-year ARM. The 1-year ARM remained unchanged from the previous week.
30-year fixed-rate mortgage (FRM) averaged 4.39 percent with an average 0.9 point for the week ending November 18, 2010, up from last week when it averaged 4.17 percent. Last year at this time, the 30-year FRM averaged 4.83 percent.
15-year FRM this week averaged 3.76 percent with an average 0.7 point, up from last … (1 comments)
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real estate outlook: HOA Pocket Change Orders - 11/19/10 12:39 PM
There is an old saying that goes "change is inevitable except from a vending machine." But when it comes to renovation projects, homeowner associations should be wary of "change orders". Change orders are a sneaky way for contractors to jack up the price of a project they've won with a low bid. But change orders are sometimes necessary since it’s impossible to identify all of the underlying conditions in a building or predict every potential problem before a project begins. Therefore, the key questions are: What are legitimate change orders and how much should be allotted for them?
… (1 comments)
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real estate outlook: Mortgage Rates Up But Still Incredibly Low - 11/18/10 01:06 PM
McLean, VA – Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), which found that the 30-year fixed-rate mortgage rate rose slightly for the second consecutive time in six weeks. The 15-year fixed-rate mortgage rate also rose slightly while the 5-year ARM set another low, and the 1-year ARM tied last week's low.
30-year fixed-rate mortgage (FRM) averaged 4.23 percent with an average 0.8 point for the week ending October 28, 2010, up from last week when it averaged 4.21 percent. Last year at this time, the 30-year FRM averaged 5.03 percent.
15-year FRM this week … (0 comments)
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real estate outlook: Real Estate Prices Fall, Will Sellers Take Note? - 11/12/10 02:19 PM
For the fourth consecutive month, price reductions have increased for home listings currently on the market in the United States. The reductions are now at an all-time high of 27 percent, according to Trulia.com
The record-high reductions amount to more than $30.7 billion nationwide. In a press release, Trulia concludes that there has been "a continual and dramatic price reduction increase in many cities that began in June 2010."
Anxious sellers, watching prices decrease, have gotten aggressive in their pricing. "We would normally expect to see a seasonal uptick in price reductions between June and October, as motivated sellers whose homes … (0 comments)
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real estate outlook: Real Estate Outlook: Freeze Over In Many States - 11/08/10 02:40 PM
Part of the freeze is over for 23 states. Bank of America has announced that foreclosures are resuming in over two dozen states. The bank says in its review, it has not found a single occasion where a foreclosure proceeded in error.
"We voluntarily paused our process in the 23 judicial states, not because there was evidence of problems -- there was not -- but because we wanted to ensure our customers they are being treated fairly," said Dan Frahm, a bank spokesman.
Guy Cecala of Inside Mortgage Finance, an industry publication, reports that "this draws a line in the sand … (1 comments)
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Miro Fitkova
Boston,
MA
More about me…
Fitkova Realty Group
Address: 1318 Beacon St., Suite 16, Brookline, MA, 02446
Office Phone: (617) 232-3220 x 101
Cell Phone: (617) 921-9952
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