Rate cuts? - 03/31/08 02:39 PM
 
Daily Real Estate News  |  March 20, 2008Interest Rate Cuts Help ARM Holders The Federal Reserve's rate cuts aren't doing much to lower mortgage rate for new buyers, but they could help holders of existing adjustable rate mortgages.Rates on home-equity lines of credit, credit cards and auto loans have all dropped. In addition, millions of homeowners won't face higher rates as their adjustable-rate mortgages reset.Applicants for new mortgage are likely to continue to pay more. Mortgage rates typically follow the 10-year Treasury and have historically traded at about 1.8 percentage points above the 10-year Treasury yield. Those Treasurys currently yield about 3.451 percent. … (2 comments)

Who has the cash? - 03/30/08 04:54 PM
 
Daily Real Estate News  |  March 20, 2008Fannie, Freddie Get Cash to SpendThe Office of Federal Housing Enterprise Oversight yesterday reduced the amount of capital it requires Fannie Mae and Freddie Mac to maintain from 30 percent to 20 percent.That means the companies are being allowed to take about $200 billion that they were previously required to hold in reserve against losses and invest that money in home loans.''Additional capital will enable the companies to help more homeowners and will strengthen the underlying fundamentals of the mortgage market,'' said Treasury Secretary Henry M. Paulson Jr.Officials hope that this move will reduce the cost … (1 comments)

Creative selling - 03/30/08 04:53 PM
 
Daily Real Estate News  |  March 20, 2008Home Sellers Resort to Weird Deals Frustrated home sellers are trying an array of techniques to sell their slow-moving homes.In Colorado, J.J. Rodgers has launched an essay contest. So far, she has received more than 500 essays - accompanied by a $100 entry fee - explaining why the writer should win her four-bedroom home. Rodgers hopes to get a total of 2,000 entries or $200,000 in fees.Bob and Ricki Husick sold their suburban Pittsburgh home by offering to give back the buyer's purchase price upon their death. The Husicks also offered to throw in the couple's … (1 comments)

Can you transition in a down market? - 03/30/08 04:47 PM
Daily Real Estate News  |  March 20, 2008Practitioners Dig Up New RevenueRather than flee the real estate industry due to the housing downturn, experts say real estate practitioners should use their skills and experience to offer services outside of buying and selling homes to supplement their incomes. They could write about the real estate market for newspapers and blogs; sell advertising space on a neighborhood Web site, newsletter, or blog that they create to local businesses; become a licensed appraiser; or provide tours of the local area to visitors. Additionally, practitioners can supplement their income by helping businesses with search engine marketing, translating … (0 comments)

Investors - 03/30/08 04:45 PM
Daily Real Estate News  |  March 27, 2008Multifamily Housing Lures InvestorsThe shifting housing market is making multifamily housing more attractive for investors.During the property boom, the rental market soured and landlords had to offer expensive incentives to get and keep tenants. With rising mortgage rates and tighter credit, landlords are able to raise rents and attract tenants. But this change didn't come quickly enough to save landlords who had to mortgage their properties during the bad times and are now facing foreclosure."There will be a lot of product hitting the street in the coming months and it should be pretty cheap," says Mike … (1 comments)

Jumbo Rates increase - 03/30/08 04:42 PM
Daily Real Estate News  |  March 27, 2008Jumbo Loan Rates to Climb HigherJumbo Federal Housing Administration mortgages are likely to carry interest rates that are at least a 0.375 percentage point higher than rates on normal FHA loans, said Mahesh Swaminathan, a mortgage strategist at Credit Suisse in New York.The current rate for a normal 30-year fixed-rate FHA loan is about 5.875 percent, while the rate on the new larger one is initially 6.375 percent.Fannie Mae and Freddie Mac also are introducing larger loans under temporary authority from Congress. Early indications are that the larger Fannie and Freddie loans also may require interest … (0 comments)

Curb appeal - 03/30/08 04:40 PM
Daily Real Estate News  |  March 27, 2008Curb Appeal Sells Homes, Survey SaysA survey of almost 500 real estate agents commissioned by JELD-WEN Windows & Doors indicates the increasing importance of curb appeal in selling a home. According to the Real Estate Agent Community Trends survey, 82 percent of practitioners polled said buyers unimpressed with a home's exterior will not want to look inside. The results also found that 90 percent of respondents said a sale depends on first impressions of the front entry, while 91 percent said the home's exterior is just as important as what is inside. Additionally, 75 percent of … (1 comments)

Price easing - 03/30/08 04:39 PM
Daily Real Estate News  |  March 27, 2008Paulson: Price Easing was 'Inevitable'The U.S. government shouldn't interfere with a drop in housing prices, but should strive to minimize the impact on the economy, U.S. Treasury Secretary Henry Paulson told a meeting Wednesday of the U.S. Chamber of Commerce."A correction was inevitable and the sooner we work through it with a minimum of disorder, the sooner we will see home values stabilize, more buyers return to the housing market, and housing again contributing to economic growth," he said.He was critical of those who walk away from mortgages that are under water. "Washington can not create … (0 comments)

PMI - 03/30/08 04:01 PM
 
Daily Real Estate News  |  March 27, 2008Don't Forget: PMI is Deductible As April 15 tax day approaches, here is a reminder for home buyers with mortgage insurance.Home owners with adjusted gross incomes of $100,000 or less can deduct the full cost of their government or private mortgage insurance premiums on their 2007 federal returns.Families with incomes between $100,000 and $109,000 are eligible for a reduced deduction.This is a new tax break that Congress has approved through 2010. "On average, this year's tax break could be worth $350 per taxpayer - an annual deduction that qualified home owners can take each year through … (1 comments)

Fastest growing cities - 03/30/08 04:00 PM
 
Daily Real Estate News  |  March 27, 200810 Fastest Growing U.S. CitiesThe fast-growing areas in the United States are in the Sunbelt, with Texas leading the way, according to data released today by the U.S. Census Bureau.Dallas-Fort Worth added more than 162,000 residents between July 2006 and July 2007, more than any other metro area. Three other Texas cities - Houston, Austin, and San Antonio - also were in the top 10.Experts credit much of the growth in the South to strong local economies and housing prices that are among the most affordable in the United States.A report earlier this month by Global … (0 comments)

Insurance - 03/30/08 03:58 PM
 
Daily Real Estate News  |  March 26, 2008Storm Brews Over Wind InsuranceThe battle continues to heat up between congressional members and the insurance industry. U.S. Rep. Gene Taylor (D-Miss.) has proposed that the reauthorization of the National Flood Insurance Program (NFIP) include wind coverage, which was passed by the House. "It was unjust at every level, for the individual and for society as a whole," he said. The Senate's companion legislation does not include wind coverage or other enhancements supported by Taylor. According to Washington Post Columnist Jeffrey Birnbaum, it is not often that the government and an industry battle over who can … (0 comments)

Money - 03/25/08 10:47 AM
 
Daily Real Estate News  |  March 20, 2008Fannie, Freddie Get Cash to SpendThe Office of Federal Housing Enterprise Oversight yesterday reduced the amount of capital it requires Fannie Mae and Freddie Mac to maintain from 30 percent to 20 percent.That means the companies are being allowed to take about $200 billion that they were previously required to hold in reserve against losses and invest that money in home loans.''Additional capital will enable the companies to help more homeowners and will strengthen the underlying fundamentals of the mortgage market,'' said Treasury Secretary Henry M. Paulson Jr.Officials hope that this move will reduce the cost … (1 comments)

the market has changed - 03/25/08 10:45 AM
 
Daily Real Estate News  |  March 20, 2008Home Sellers Resort to Weird Deals Frustrated home sellers are trying an array of techniques to sell their slow-moving homes.In Colorado, J.J. Rodgers has launched an essay contest. So far, she has received more than 500 essays - accompanied by a $100 entry fee - explaining why the writer should win her four-bedroom home. Rodgers hopes to get a total of 2,000 entries or $200,000 in fees.Bob and Ricki Husick sold their suburban Pittsburgh home by offering to give back the buyer's purchase price upon their death. The Husicks also offered to throw in the couple's … (0 comments)

supplement your income - 03/25/08 10:44 AM
 
Daily Real Estate News  |  March 20, 2008Practitioners Dig Up New RevenueRather than flee the real estate industry due to the housing downturn, experts say real estate practitioners should use their skills and experience to offer services outside of buying and selling homes to supplement their incomes. They could write about the real estate market for newspapers and blogs; sell advertising space on a neighborhood Web site, newsletter, or blog that they create to local businesses; become a licensed appraiser; or provide tours of the local area to visitors. Additionally, practitioners can supplement their income by helping businesses with search engine marketing, translating … (1 comments)

Online businesses - 03/25/08 10:42 AM
 
Daily Real Estate News  |  March 19, 2008Business Moves OnlineiHouse, which creates Web sites for real estate practitioners nationwide, last month surveyed the market.Here are some of their conclusions about the way the industry is using the Internet. About 50 percent of the respondents had more than 10 years of experience in the business.
98 percent of practitioners surveyed have some sort of online presence up from 91 percent in 2007. 72 percent have a customized site while 10 percent have a profile on their brokers' site. 71 percent are spending more than $250 per month on marketing 33 percent are spending more than … (0 comments)

Work until the deal is done - 03/25/08 10:40 AM
 
Daily Real Estate News  |  March 19, 2008Keep Selling Until Deal is DoneEven after a buyer is found and the papers are signed, there's no guarantee that the deal will close, say real estate practitioners."The risks are with the property or the buyer's credit, income, or down payment," says Kent Cochrum, president of Kingsland Financial Services in Wheaton, Il.Even pre-approval is no guarantee this days. Something as small as missing a bill payment shortly before closing can derail a loan. Sellers shouldn't stop marketing a home just because they accept a purchase contract, says Cindy Banks, an associate with Re/Max Cornerstone in West … (0 comments)

IRA...now were talkin' - 03/25/08 10:38 AM
 
Daily Real Estate News  |  March 19, 2008Seek Property Bargains for Your IRAReal estate practitioners who are spying good deals these days and who are confident real estate isn't far from a turnaround might consider investing their Individual Retirement Account funds in property."A lot of people prefer real estate. That's where they've been successful and that's what they're comfortable with," says Bill Humphrey, principal of Entrust New Direction, based in suburban Denver. The office is a member of The Entrust Group, a national firm that serves as an administrator in nontraditional IRA investing.Compared to buying stocks or mutual funds, investing a retirement account … (0 comments)

FBI? - 03/25/08 10:37 AM
 
Daily Real Estate News  |  March 19, 2008FBI Examining 17 LendersThe FBI is currently investigating 17 firms involved in the mortgage lending industry, bureau officials told Reuters News in an exclusive interview. The bureau had previously acknowledged it was investigating 16 firms. Officials say the criminal probe could take years to complete. The FBI has assigned 100 agents to investigate corporate fraud aspects of the housing crisis, including subprime lending and insider trading. Another 150 are looking at related securities fraud, and 153 are looking at loan originations, says Neil Power, economic crimes unit chief of the FBI's financial crimes section.The majority of … (0 comments)

Mortgage applications fall - 03/25/08 10:35 AM
 
Daily Real Estate News  |  March 19, 2008Mortgage Applications FallMortgage applications fell 2.9 percent last week on an adjusted basis compared to the previous week, according to the Mortgage Bankers Association weekly survey.On an unadjusted basis, the index decreased 2.8 percent and was down 3.7 percent compared with the same week a year ago.Applications for home purchases declined only 1 percent, while refinances fell 4.6 percent. The refinance share of mortgage activity declined to 49.7 percent of total applications, down from 50.6 the week before.Mortgage rates decreased slightly:
30-year fixed-rate mortgages decreased to 5.98 percent from 6.37 percent; 15-year fixed-rate mortgages decreased to 5.24 … (0 comments)

Congress has to work???? - 03/25/08 10:34 AM
 
Daily Real Estate News  |  March 19, 2008Democrats Seek to Aid Home OwnersDemocrats in both houses of Congress are working to bring legislation to a vote that would target home owners who are facing foreclosure because they can't pay the escalating interest.Under the program, environed by House Financial Services Committee Chairman Barney Frank (D-Mass.) and Senate Banking Committee Chairman Christopher J. Dodd (D-Conn.), a home owner could contact an approved Federal Housing Administration lender for assistance.The new lender would determine how much the house is worth and how much the home owner could reasonably afford to pay. The existing mortgage holder would then … (0 comments)

who pays attention to the red flags? - 03/25/08 10:32 AM
 
Daily Real Estate News  |  March 18, 2008Company Says Banks Ignored Warnings Freelance loan checkers hired by brokers, lenders, and investment banks to examine the paperwork on home loans being sold as securities say they raised red flags and were ignored.Executives at the two main firms that hired the freelancers - Shelton, Conn.-based Clayton Holdings Inc. and San Francisco-based Bohan Group - said the checkers were hired primarily to determine how much to pay for a pool of loans. The investors wanted only minimal testing of the quality of the loans, says Frank P. Filipps, CEO of Clayton. "The client really drives the … (0 comments)

Moving on up! - 03/18/08 10:16 AM
 
Everyone is moving up in the market, so dont wait! 
Daily Real Estate News  |  March 13, 2008Garrison Keillor's House on MarketFolksy humorist Garrison Keillor and his wife Jenny Lind Nilsson are selling their seven-bedroom home in St. Paul, Minn., for $1.65 million, according to Mary Hardy, an associate with Edina Realty, who listed the property.Keillor, who is the star of A Prairie Home Companion public radio program, and Nilsson have made an offer on a home a few blocks away that has 4,000 square feet more space and sits on a gated half-acre lot. While its listing price is no longer public, the … (0 comments)

Is the real estate market going green on us? - 03/18/08 10:14 AM
 
Is everything going GREEN? 
Daily Real Estate News  |  March 13, 2008Green REITs Eye Long-Term GainReal Estate Investment Trusts at the forefront of the "green" movement stand to reap substantial long-term rewards. One example is industrial REIT AMB Property Corp., which has unveiled a 3 million-square-foot green distribution facility in Savannah, Ga., to provide its customers with renewable solar power. Other green-conscious REITs include ProLogis, Regency Centers Corp., Simon Property Group Inc. and Thomas Properties Group Inc. All four are well-positioned to benefit from the movement. Doug Gatlin, vice president of market development at the U.S. Green Building Council asserts, "If it's not green, … (2 comments)

Foreclosure rates - 03/18/08 10:09 AM
 
Is the foreclosure rate dropping? 
 
Daily Real Estate News  |  March 13, 2008Foreclosures Dip But Remain HighForeclosures in February were down 4 percent from January, but the rate of foreclosures remain high year-over-year. The February rate was up 57 percent from February 2007. "The year-over-year increase this February was significantly higher than the 19 percent year-over-year increase in February 2007, indicating we have still not reached the peak of foreclosure activity in this cycle," says James J. Saccacio, CEO of RealtyTrac, which markets foreclosed properties.The 10 states with the highest foreclosure rates were, in order, Nevada, California, Florida, Arizona, Colorado, Michigan, Ohio, Georgia, Indiana, … (1 comments)

Marketing tools - 03/18/08 10:06 AM
 
 Email as a marketing tool?
Daily Real Estate News  |  March 13, 2008E-Mail Can Up Your Marketing ROIA healthy return on investment (ROI) is critical in selling homes today, making your e-mail marketing strategy integral to your bottom line. But there's a risk: if executed improperly, e-mail marketing can be a waste of time and an annoyance for the target audience. To do it right, use you e-mail to attract prospects to your Web site by offering them information, a resource, or something else they have expressed interest in. The initial contact should be through conventional marketing techniques that then provide the potential customer … (0 comments)

The time is now to buy...so start looking now - 03/18/08 10:04 AM
 
 The time to buy is now, so get your lients out to see the inventory available today.
Daily Real Estate News  |  March 13, 2008Tap Today's Housing OpportunityFalling home prices spell opportunity for buyers, even if they already own a home and don't want to be a landlord.Here are three smart ways to invest in today's housing market.Trade up. Now's the time to buy a larger home in a better neighborhood at what will almost certainly be a good price. To be sure, buyers will have to sell their old home at a modest price. Still this could be an excellent time to improve … (2 comments)

Rates to stay low for some time to correct the Market? - 03/18/08 10:01 AM
 
This would be wonderful for the housing market.  
Daily Real Estate News  |  March 7, 2008Fed: Rates May Remain Low for AwhileThe Federal Reserve may need to keep a lid on interest rates for a significant length of time if the financial markets continue to be under duress, New York Fed President Timothy Geithner told the Council on Foreign Relations."If turbulent financial conditions and the associated downside risks to growth persist, monetary policy may have to remain accommodative for some time," he said.Geithner also said that dealing with growth risks and rising inflation "requires a fine balance" but added "if the medium-term outlook for … (0 comments)

Housing prices continue downward nationally... - 03/18/08 09:57 AM
 
 Prices are still dropping...is there any relif in sight?
Daily Real Estate News  |  March 7, 2008Home Equity Falls to Record LowTwo housing benchmarks were reach on Thursday, signaling the continuing challenges in the U.S. housing market.The percentage of equity Americans with mortgages have in their homes fell below 50 percent in the second quarter of 2007 and declined further through the fourth quarter to 47.9 percent, the Federal Reserve reported yesterday. This is the first time that home owners' debt exceeds their equity since the Federal Reserve first began keeping records in 1945.Economists expect this figure to drop even further as home prices … (2 comments)

Should homeowners walk away from their homes? - 03/18/08 09:51 AM
 
 Should you walk away from your home?
Daily Real Estate News  |  March 7, 2008Some Home Owners Just Walk AwayAs prices drop, more home owners who bought at the top of the market are mailing their keys to the lender and walking away. In some circles, it's called "jingle mail."For a fee, Web sites like YouWalkAway.com will advise home owners on the process. Because the legal costs are high, it is unlikely that a mortgage firm will chase those who walk away, although the law allows it.In past downturns, few people have walked away from their homes, but the situation is different this time, … (0 comments)

Some more tax issues that homeowners should be aware of - 03/18/08 09:49 AM
 
 I hope agents tell their clients about this tax code...
Daily Real Estate News  |  March 7, 2008Tax Benefits of Owning a HomeBefore a home owner curses the troubled housing market, he or she should take solace in the U.S. tax code, which makes buying a home a good deal for almost everyone.Here's why:Mortgage interest deductions, including in some cases mortgage insurance premiums, reduce home owners' tax liability by reducing income. The deduction includes interest paid on both a first and a second home. Interest on home equity loans is also deductible - whether the borrower uses the money to remodel the kitchen or … (1 comments)

Bernanke speaks on the 4th of March - 03/18/08 09:34 AM
 
Bernanke on the 4th of March 
MoneyNewsTuesday, March 4, 2008 WASHINGTON -- Federal Reserve Chairman Ben Bernanke called Tuesday for additional action to prevent more distressed homeowners from falling into foreclosure.
"This situation calls for a vigorous response," Bernanke said in a speech to a banking group in Florida.
Even with some relief efforts under way by industry and government, foreclosures and late payments on home mortgages are likely to rise "for a while longer," Bernanke warned.
Rising foreclosures threaten to worsen the problems in the housing market and for the national economy, which many fear is on the verge of a … (0 comments)

Will new appraisal rules help the market? - 03/13/08 10:23 AM
 
 I dont think this will help at all, but I still want to hear what you have to say...
Daily Real Estate News  |  March 6, 2008New Appraisal Rules for Freddie, FannieFannie Mae and Freddie Mac have reached an agreement with New York Attorney General Andrew Cuomo that requires them to have independent appraisals of home values.Under the agreement, home appraisals have to come from assessors who don't have formal ties with a lender or mortgage broker.Lenders wishing to sell their mortgages to the nation's two largest sources of home finance must make sure that they don't rely on in-house appraisers and don't own … (0 comments)

Tax Benefits - 03/12/08 04:43 PM
 
 Here are some issues about taxes...what a joyful thought...
Daily Real Estate News  |  March 7, 2008Tax Benefits of Owning a HomeBefore a home owner curses the troubled housing market, he or she should take solace in the U.S. tax code, which makes buying a home a good deal for almost everyone.Here's why:Mortgage interest deductions, including in some cases mortgage insurance premiums, reduce home owners' tax liability by reducing income. The deduction includes interest paid on both a first and a second home. Interest on home equity loans is also deductible - whether the borrower uses the money to remodel the kitchen or to … (0 comments)

Loan limits should go up. - 03/12/08 02:38 PM
 
 This is something that is long in waiting for the west coast and the midwest.
Daily Real Estate News  |  March 6, 2008NAR Urges Increase in National Loan Limits The NATIONAL ASSOCIATION OF REALTORS® today called on the U.S. Senate to enact reform legislation for the nation's government-sponsored enterprises (GSEs) that will protect the vibrancy, liquidity and stability of the U.S. housing finance system.In testimony before the Senate Committee on Banking, Housing and Urban Affairs, NAR urged the Senate to permanently raise the national GSE conforming loan limits to $625,000 with an additional increase of 125 percent of the local median home-sales price in … (0 comments)

A note on commercial real estate - 03/12/08 02:31 PM
 
This some more good news for now... 
Daily Real Estate News  |  March 12, 2008Commercial Fundamentals are SteadyCommercial real estate market fundamentals are fairly stable, although investment is waning following a record year in 2007, according to the latest Commercial Real Estate Outlook of the NATIONAL ASSOCIATION OF REALTORS® .NAR Chief Economist Lawrence Yun says the commercial real estate market is holding essentially even. "We're seeing no significant changes in vacancy rates or rent growth, so the fundamentals in commercial real estate still seem to be respectable," he says. "Under normal circumstances, near-full occupancy coupled with positive rent growth would be of strong interest … (0 comments)

The time is now to buy... - 03/12/08 02:27 PM
 
 Its true and I want to hear your thoughts and opinion about this article.
Daily Real Estate News  |  March 12, 2008Buy Now, says Foreclosure ExpertNow's the time to pick up properties at fire sale prices, says Ralph R. Roberts, author of Foreclosure Investing for Dummies and Flipping Houses for Dummies."Properties could double in value over the next 10 years. But you have to be willing to go in, buy them, and hang on for the longer term," he advises.Roberts, owner of Ralph Roberts Realty in suburban Detroit, who says he has bought and sold more than 2,000 foreclosed properties in his career, believes … (1 comments)

Mortgage applications drop this week - 03/12/08 02:22 PM
This isn't good news
Daily Real Estate News  |  March 12, 2008Mortgage Activity Fell Last Week Mortgage applications were down 1.9 percent last week to a seasonally adjusted volume of 671.7, according to the Mortgage Bankers Association weekly survey.On an unadjusted basis, the index decreased 1.4 percent compared with the previous week and was down 3.4 percent compared with the same week a year ago.The slight decline reflected a 4.7 percent decline in the refinance index, while the purchases index increased 1.6 percent. The refinance share of mortgage activity slid from 52.4 percent the previous week to 50.6 last week.Average interest rates generally increased:
30-year … (1 comments)

Who ever said there were lender guidlines - 03/12/08 02:01 PM
 
 Thia is a great article that I would like to hear your thoughts on...
Daily Real Estate News  |  March 12, 2008Lending Standards Will Stay TightThe loan a borrower qualifies for on Monday is likely to be out of reach on Tuesday because lenders are changing the rules hourly, industry observers say.For those who can meet the rapidly changing lending standards, the plan announced Tuesday by the Federal Reserve to loosen credit by providing $200 billion to the financial services sector should make plenty of money available at lower interest rates, says David Wyss, chief economist at Standard & Poor's.Last year a borrower could … (1 comments)

Lets hope this is true... - 03/12/08 01:57 PM
… (2 comments)

Is a lease option a good bet? - 03/12/08 01:04 PM
 
 Tell me waht you think about lease options...
Daily Real Estate News | March 10, 2008
Lease-to-Own Primer
Lease-to-own agreements can help sell a hard-to-sell property during a sluggish housing market. Here's how they
work:
􀁺 A seller agrees to rent a property to an interested buyer for a set period of time, usually one to three years.
At the end of the lease, the buyer has the option to purchase the home at a preset price.
􀁺 A portion of the monthly rent paid during the lease is usually counted toward the down payment. To cover
that, the seller charges a rent increment or monthly premium of $200 … (4 comments)

The IRS again... - 03/12/08 01:01 PM
 
This article is one that we should all be aware of... 
Daily Real Estate News | March 10, 2008
IRS Releases Vacation Home Ruling
The Internal Revenue Service recently issued a Revenue Procedure ruling that spells out how vacation properties
can qualify for 1031 exchanges, which involve the exchange of investment properties.
The guidance aims to clear up the debate about whether vacation homes are investment or personal use
properties. The ruling states that the property must be held by the taxpayer for 24 months. The holding period is
broken into 12-month blocks, and during each the property must be rented at the fair market rate for no … (1 comments)

Could this be true? - 03/12/08 12:49 PM
 
I would like to hear your thoughts and opinions on this article. 
Daily Real Estate News | March 11, 2008
Home Inventory Stabilizes in February
The inventory of homes for sale in major metropolitan areas grew just 1.2 percent in February, according to
ZipRealty, a national brokerage doing business in 29 major cities.
The inventory was up 17 percent from February 2007 in 18 metropolitan areas for which ZipRealty has
comparable year-earlier data.
Here's an alphabetical list of the increases and decreases in February 2008 compared with January 2008:
Baltimore: -0.6
Boston: +3.7
Chicago: + 2.7
Dallas: -0.2
Houston: +0.7
Las Vegas: -4.4
Los Angeles: -0.4
Miami-Fort Lauderdale: +0.9
Minneapolis: +4.4
Orange County, Calif.: +0.1
Orlando, Fla.: -0.3
Phoenix: +0.6
San … (0 comments)

Is it a smart time to buy or shoul the buyer wait? - 03/12/08 12:47 PM
 
 I woul like to hear your thoughts about this article.
Daily Real Estate News | March 11, 2008
Why Now is a Smart Time to Buy
Now is a great time to buy a home, say the financial gurus at the Wall Street Journal.
The Journal calls it a buyers market and offers these suggestions for first-timers getting their feet wet. While their
advice is solid, it's not revolutionary, but some potential customers might find it reassuring.
Remember this is a place to live not a stock market investment, they say. Lenders want buyers to spend no more
than 28 percent of their gross monthly income on mortgage … (5 comments)

Great news - 03/06/08 11:30 AM
 
NAR says home sales to remain steady!!! 
Daily Real Estate News  |  March 6, 2008NAR: Home Sales to Hold SteadyThe volume of existing-home sales is expected to remain stable through late spring, with a gradual recovery during the second half of the year as the mortgage situation improves in high-cost areas, according to the latest forecast by the NATIONAL ASSOCIATION OF REALTORS®.Lawrence Yun, NAR chief economist, says many buyers have been waiting for higher mortgage loan limits. "The higher loan limits for both FHA and conventional loans will increase consumer choice and provide greater access to lower interest rate mortgages in high-cost regions," he … (0 comments)

Where are rates really going? - 03/06/08 11:23 AM
 
 Here is another article about Freddie...
Daily Real Estate News  |  March 4, 200830-Year Rates to Hit 5.5 Percent?Freddie Mac expects the average 30-year fixed mortgage rate to slip to 5.5 percent this year from 6.3 percent in 2007, marking a 45-year low; but Global Insight Inc. economist Brian Bethune does not expect the drop in mortgage rates to spark a housing rebound. According to him, "People are going to stay away from the market if they see instability, and lenders are going to have a hard time valuing properties and issuing mortgages." Freddie Mac also forecasts a decline in economic growth to 2.3 percent … (1 comments)

Rentals - 03/06/08 11:19 AM
Is it true renting is safer than buying...well the press would lead you to believe that the trend is moving towards renting and not home home ownership.
Daily Real Estate News  |  March 4, 2008More People Opt to RentThe housing slowdown is causing more people to remain renters. Equity Residential, which owns and manages about 150,000 apartments nationwide, reports that turnover slowed to 63.3 percent in 207, down from 64.9 percent in 2006.Homeownership rates have fallen to 67.8 percent of households at the end of 2007, compared to 69.2 percent in 2004.First-time homebuyers are "some of the most nervous people I've ever met in … (0 comments)

The commercial market is next!!! - 03/06/08 11:14 AM
Here is another great article to read and talk about.
Daily Real Estate News  |  March 4, 2008Commercial Market Feels CrunchAnalysts at Goldman Sachs Group Inc. project a decline of 21 percent to 26 percent in construction spending over the next two years.The decline, they say, will hit lenders hard. William Tanona, a Goldman analyst, expects total write-downs of $7.2 billion by Bear Stearns Cos., Citigroup Inc., J.P. Morgan Chase & Co., Lehman Brothers Holdings Inc., Merrill Lynch & Co. and Morgan Stanley in the first quarter. Those firms had combined commercial-real-estate exposure of $141 billion at the end of the fourth quarter.Goldman Sachs … (0 comments)

are you getting your short sales closed? - 03/06/08 10:57 AM
Does anyone do shart sales? 
Short Sales Can and Do Make a Difference...
A Personal Look at This Industry Trend
by Will Weaver
On any given day, I receive three to four calls from people who are in
foreclosure and find themselves in a frightening whirlwind of red tape, debt,
and decisions most feel too overwhelmed to absorb. Many I meet have been
met with brick walls, intimidation, and apathy and are truly desperately in need
of an ally. Those are the days when you know that having a job that helps
people can be extraordinarily rewarding and that providing solutions can and
does make a difference.
I listed a property with … (1 comments)

Beware of negative news - 03/06/08 10:56 AM
 
 Agents here is another article to learn from.
How To Insulate Yourself Against Negative News
Reports
by Denise Lones
Here we go again. The news media is back and playing its old game of
pummeling the airwaves with predictions of doom for the real estate industry.
"The Big Crash Is Coming," "Disaster Ahead," "The Bubble Is About To
Burst." Blah, blah, blah.
And it's working. People are scared. You can't go to a supermarket or coffee
shop without overhearing a conversation about how bad the market is.
Whenever you hear a piece of information pounded at you from different
sources, naturally it's going to sink in.
But it's up to you to think. … (0 comments)

Fed Chairman an the future of housing - 03/05/08 03:19 PM
Can you believe this article? 
Daily Real Estate News | March 5, 2008
Reducing Foreclosures is Fed Chair's Goal
Federal Reserve Chairman Ben Bernanke Tuesday called for stronger measures to reduce rising foreclosures.
"Reducing the rate of preventable foreclosures would promote economic stability for households, neighborhoods,
and the nation as a whole," Bernanke said. "Although lenders and servicers have scaled up their efforts and
adopted a wider variety of loss-mitigation techniques, more can, and should, be done," the Fed chief said.
Bernanke suggested that lenders provide relief to struggling borrowers by reducing the amount owed when
borrowers are underwater. He acknowledged that this might be a hard sell to … (1 comments)

Bof A CEO respond to real estate market - 03/05/08 03:11 PM
No here is an interesting article to read that I received from the Daily Real Estate News.
Daily Real Estate News | March 5, 2008
Bank CEO Sees End to Housing Woes
Bank of America's CEO Ken Lewis recently spoke with the South Florida Sun-Sentinel about the housing market.
Here are some of his comments:
Q: When do you expect the nation's housing market to improve?
A: At best, it's a guess, but my anticipation is that by the end of the year, we'll begin to hit a bottom. But we're not
going to see improvement for several more quarters. Prices will begin to normalize, but it will … (1 comments)

Hello Fellow agents! - 03/05/08 12:02 PM
 
Take a look at my offer that my firm is offering agents who want to get busy and start selling houses, and get listings too. This no gimmick, and we have tesimonials to prove that we are for real. read my other blog points and call us today to get a jump start in your real estate carreer.
… (0 comments)

Join Summit Realty Group, Inc today! - 03/05/08 11:54 AM
 
Summit Realty Group is selling homes in several states and we are getting our homes sold faster than any firm in the industry. We are doiung is right so if you are an agent in California or Colorado we have a commission split that can't be beat. Call our office for an interview and come aboard to a winning team. call us at 714-883-1181, or 714-883-1198. Talk to Tim or John to get started, and there are no start up cost.
… (0 comments)

What is happening to the banks? - 03/05/08 11:43 AM
 
Why are interest rates still going up? Why are the banks hanging tough to price points in the marketplace right now if there is such a big crash in real estate? Talk to me! I have my ideas about what is going on right now, but I want to hear whats going on out there. My firm is getting a lot of activity in California and in Colorado. We are getting multiple listings and sales every, so why is the market so bad?
… (2 comments)

Interest rates are going up? - 03/04/08 09:31 PM
Why do you think the interest rates are continuing to climb for homeowners? Fed rates are dropping, housing prices are dropping in most metropolitan areas in the US, and Federal mortgage limits are increasing. What is going on with this picture? It leads me to believe that the banks are trying to build in a spread to cover their short term losses to defauls. … (1 comments)

 
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