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Our goal is to provide entertaining information which agents can use and which both buyers and sellers will find useful. Sometimes we'll provide crazy stories from our years of practice.
ARCHIVED BLOG POSTS
2010
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There has been an ongoing argument over the past months about whether or not the U.S. will see continued deflation or inflation. It's generally considered that we're in a deflationary environment now, but, due to continued government spending and increasing national debt, we should eventually se...
09/27/2010
Just when we'd all heard that housing indications were trending upward, today's new home sales number came in at a lackluster 288,000 units annually. This is essentially unchanged from July's number. Total housing supply fell to 206,000 which is the lowest level since 1968. The problem is that sa...
09/24/2010
The mortgage purchase applications index fell slightly over three percent following a fraction of a percent drop last week. This is a reverse of the prior few weeks climbing index. This drop occurred despite the average 30-year interest rate dropping to 4.44%. The refinance index also fell almo...
09/22/2010
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August, 2010 housing starts jumped 10.5 percent after rising a modest 0.4 percent in July. The August annualized pace of 0.0.598 million units was higher than analysts' expectations for 0.550 million units. This pace is up 2.2 percent compared to a year ago. August also showed a 32.2 percent sur...
09/21/2010
A recent court case in Florida signifies problems for banks wanting to foreclose. A bank filed for foreclosure and submitted an assignment of mortgage as basis for the case. The court found that the mortgage was carried on the books of Fannie Mae and, thus, didn't belong to the servicing bank. Ap...
09/20/2010
The Federal Reserve Flow of Funds report was released on the 17th. It shows that household net worth, which is defined as assets less liabilities, plunged by over one and one-half trillion dollars during the second quarter of this year. This huge decline seems to be mostly due to drops in corpo...
09/18/2010
Fannie and Freddie now own more than 191,000 homes and they are foreclosing on homes at a higher rate than the homes are selling. They are warning lenders to reclaim homes quickly once the available foreclosure alternatives are exhausted. The two mortgage companies now own more than twice as man...
09/17/2010
RE/MAX founder, Dave Liniger, recently stated that "Investor Business Will Grow." According to Liniger, who cited surveys by Campbell Communications, investors have purchased approximately 20% of the homes in the national market during the past year. Liniger states that first-time buyers will...
09/16/2010
Rainmaker
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Eric Martell
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