homeowners: Cities With Fewest Homeowners Under Water
- 11/04/11 03:27 AM
According to 24/7 Wall Street, the seven cities in the country with the lowest "under water" homeownership rate are: 1. Rochester, NY 2. El Paso, TX 3. Albany, NY 4. Buffalo, NY 5. Fayetteville, NC 6. Huntsville, AL 7. Lancaster, PA The link to the article is: http://realtormag.realtor.org/daily-news/2011/11/01/7-cities-fewest-underwater-home-owners … (0 comments)
homeowners: Home Buyer Myths
- 11/02/11 10:35 AM
I recently read an article regarding five common myths held to be true by home buyers. Let me preface this with two bits of information, (1) the survey was conducted by Zillow and (2) the sample size was 1,000 home buyers. The five areas used for the basis of the survey were appreciation, mortgage insurance, appraisals, homeowners insurance and ownership. Regarding appreciation, I was shocked by the number of individuals who honestly thought that their homes were going to appreciate by 7% a year, especially given the current state of the market. I suppose that is fuedled by the notion that, … (0 comments)
homeowners: Low Rates Will Not Revive The Housing Market
- 08/18/11 09:13 AM
Clearly, low rates and affordable housing will not revive the condition of the housing market as we know it. Even the Fed's recent proclamation of low rates for the next two years will not stimulate the housing market. In a twisted way, it might even reduce the chances of stimulation. With rates being held at bay and housing prices continuing to decline in some markets and remain level in most others, there is no sense of urgency for buyers to get off of the fence. Weakened US and world economies and fear of unemployment have led to a negative psychological effect … (3 comments)
homeowners: Home Ownership Is Down - When Will It Come Back?
- 08/02/11 07:51 AM
I read an article this morning about home ownership across America has declined to 65.9%. The report went on to predict that that could go as low as 62% by 2015. Because anything less than 69% is considered "unacceptable" by industry standards, what can be done to reverse this shift? Obviously, lending standards will have to be loosened a little bit in order to have a positive affect on this trend. Whether or not that happens is yet to be determined. Another possibility is one that Io personally have been professing now for months, that is generation Y. To quote the … (2 comments)
homeowners: Where Were You At Midnight Last Night?
- 07/23/11 09:01 AM
I had just finished dinner and was having my usual drink (root beer!) in the bar of the restaurant with a few friends. The bartender, knowing me and knowing what I do for a living, asked me if I had a business card. Of course, I obliged. He introduced me to a couple from California who had recently been relocated to NC and were currently in a rental. I discovered that they had a home in CA that they were going to rent and that they really wanted to become homeowners here in NC within the next year. One thing led … (6 comments)
homeowners: Foreclosures Delayed ... Recovery Delayed?
- 07/15/11 04:47 AM
Recent RealtyTrac news reports that 1 million foreclosures will be delayed until 2012 due to the massive backlog currently being experienced throughout the country. It is being reported that this will result in a delayed market recovery of an additional year, and thet "normal levels" of foreclosures will not be experienced until 2015. The general observation made is that "lenders taking longer to take action against delinquent borrowers is stalling the housing recovery." On the other hand, lenders, with the support of our current administration, have self-imposed delayes in an effort to allow homeowners to restructure or modify their loans, or … (0 comments)
According to 24/7 Wall Street, the seven cities in the country with the lowest "under water" homeownership rate are:
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