The Fed met last week and as expected did not raise their rates, more importantly they continued to indicate a willingness to buy treasuries to support lower interest rates it doesn’t have the same effect as when they were purchasing Mortgage backed securities but it gets the job done. Building permits increased nationwide 2% in August; this is a good sign that expectations are that by the second quarter inventories will be lower. Actual housing starts (new construction) rose by 11% in August supporting those expectations. Existing homes inventory dropped … (0 comments)
san diego homes: 8 Tips to Getting Your Home Loan Modification Application Reviewed
- 07/28/10 04:27 AM
8 Tips to Getting Your Loan Modification Application Reviewed Many homeowners seeking a loan modification to lower their monthly mortgage payments and avoid foreclosure continue to find the application process a complex web, often causing them to give up before their application is ever reviewed by their mortgage company. Certified housing counselors for Credibility, a national nonprofit credit counseling and education agency, speak daily with hundreds of homeowners seeking a loan modification or other solutions to keep their homes. The organization has several tips for people that will help them increase the chances that their application is reviewed as quickly … (3 comments)
san diego homes: Short Sale Reforms Could Speed Recovery
- 12/03/09 01:06 AM
Short Sale Reforms Could Speed Recovery – RISMEDIA, December 3, 2009—The U.S. Treasury Department recently announced new guidelines to the short sale process that could speed the housing market recovery, a move RE/MAX Executives have been promoting in Washington D.C. for the past year. Short sales, transactions that can occur when a lender accepts the sale of a home at a price below the actual amount owed on the home, have become an increasing part of the real estate business as besieged homeowners look for alternatives to foreclosure. RE/MAX Chairman and Co-founder Dave Liniger has promoted a streamlined short sale … (1 comments)
san diego homes: Great Reasons to Purchase Real Estate in a Down Market
- 11/05/09 12:50 AM
Great Reasons to Purchase Real Estate in a Down Market Though many people may try and avoid it, there are some very good reasons to purchase real estate in a down market. Real estate investment has always been an interest for people looking to put their money into something secure. When the market is distressed it can be the perfect time to purchase real estate. The real estate market said to be in a down market state, or a distressed state, when the value of property is falling. Many factors can contribute to a distressed market, but the main reason … (0 comments)
RISMEDIA, October 26, 2009—Existing-home sales bounced back strongly in September with first-time buyers driving much of the activity, marking five gains in the past six months, according to the National Association of Realtors®. Existing-home sales–including single-family, townhomes, condominiums and co-ops–jumped 9.4% to a seasonally adjusted annual rate of 5.57 million units in September from a level of 5.10 million in August, and are 9.2% higher than the 5.10 million-unit pace in September 2008. Sales activity is at the highest level in over two years, since it hit 5.73 million in July 2007. … (0 comments)
RISMEDIA, By Alan J. Heavens, Corey Boles, John D. McKinnon ,October 30, 2009—(MCT/The Wall Street Journal)-The Senate has reached a compromise on extending and expanding the $8,000 tax credit for first-time home buyers, a boost the housing industry believes will help it pull out of its two-year-old downturn. While its passage remains uncertain, the agreement would extend the existing credit for first-time homebuyers, worth up to $8,000, while offering a new credit of up to $6,500 for some existing homeowners, Senate aides said. The reduced credit would … (1 comments)
RISMEDIA, October 20, 2009—The Mortgage Bankers Association (MBA) along with the National Association of Realtors (NAR) and the National Association of Homebuilders (NAHB) sent a letter to senior Obama Administration officials yesterday requesting their support for a 12-month extension of the first-time homebuyer tax credit. The letter, addressed to Treasury Secretary Geithner, HUD Secretary Donovan and National Economic Council Chair Summers, outlines why the three organizations believe that the tax credit has had a stimulative effect on not only the housing market, but on … (1 comments)
<!-- Single post title end --> RISMEDIA, October 17, 2009—(MCT)—You’re thinking of selling—but not just yet. Let’s say you’ve got a five-year plan to prepare an older, lived-in house for sale. Maybe you’re faced with tattered carpets, battered appliances and dingy paint. Or maybe we’re talking about truly scary problems, such as asbestos, underground oil tanks or leaking roofs. What should you take care of first? What can wait? What can be ignored altogether? And how do you keep costs under … (0 comments)
RISMEDIA, October 16, 2009—MBA expects economic growth to continue through the rest of 2009 before slowing in the first half of 2010. Unemployment is expected to climb to 10.2% by the middle of 2010 before beginning to moderate as economic growth resumes sustained growth in the second half of the year.
Mortgage originations should reach $1.5 trillion in 2010. Modest increases in home sales should drive purchase originations but refinance originations are expected to decline as mortgage rates rise. “The recession is behind … (1 comments)
san diego homes: Basics of the Housing Market (Buyer’s vs. Seller’s Markets)
- 10/15/09 01:19 PM
•October 2, 2009 Basics of the Housing Market If you have been looking to purchase or sell real estate, you may have heard the terms sellers’ market and buyers’ market. You may also have wondered what these terms mean and how each market impacts you as a buyer or seller. Here is a brief explanation. What are the different markets?
When there are more buyers than homes for sale, a sellers’ market is in effect. As you might expect, the conditions in this market favor sellers over buyers. During a sellers’ market, you will generally find that home prices … (1 comments)
RISMEDIA, October 15, 2009—“California’s housing market continued its strong sales rebound this year, resulting from the continued pace of distressed properties coming to market,” said California Association of Realtors (C.A.R.) President James Liptak. “This follows two years of double-digit sales declines in 2006 and 2007. Looking ahead, we expect sales to moderate to a more sustainable pace.” “After experiencing its sharpest decline in history, we expect the median price to rise modestly next year,” Liptak added. “2010 will mark the beginning of the ‘new normal’ for California’s housing … (0 comments)
RISMEDIA, October 14, 2009—While many sellers continue to cut their asking prices, fewer are doing so, according to recent data compiled by ZipRealty, national real estate brokerage, which may lead to an upward trend in home prices. According to MLS data, more than 44% of home listings in 28 major markets tracked by ZipRealty in September 2009 included at least one price reduction, down 2.8% from September 2008.
Homes currently on the market with reduced prices have had their prices cut an average of … (0 comments)
san diego homes: No change in median home price in San Diego Real Estate
- 10/13/09 03:19 AM
No change in median home price Analyst sees shift in types of properties being sold Union-Tribune Staff By thomas kupper October 13, 2009The median home price in San Diego County stayed at $325,000 last month, unchanged from August, MDA DataQuick reported yesterday. It was the ninth month in a row that the median has either increased or stayed the same, as the real estate market continues to inch its way out of a collapse that cut the median price nearly in half. But DataQuick analyst Andrew LePage said the increase has been driven less by any improvement in individual property … (2 comments)
san diego homes: Making FHA Loan Limits Permanent Crucial to Housing Recovery
- 10/13/09 03:04 AM
Making FHA Loan Limits Permanent Crucial to Housing Recovery RISMEDIA, George W. MantorOctober 13, 2009—Making the current FHA loan limits permanent would ensure liquidity in the housing market and make mortgages more affordable for qualified buyers at a time when the market is showing signs of a fragile recovery, the National Association of Realtors® recently testified to the House Subcommittee on Housing and Community Opportunity.
Current FHA loan limits are as high as $729,750 in high cost areas, and are set to expire at the end of the year and revert to lower amounts, greatly hindering the housing recovery process. “NAR … (0 comments)
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