missouri real estate auctioneer paul roesch: Put Good Faith in New RESPA Rules for Clients
- 05/16/10 04:45 AM
There has been some debate and confusion across the industry over the new RESPA rules from HUD that took effect Jan. 1 for lenders. While the key players iron out the wrinkles, you can focus on supporting the intent of the guidelines by bringing more clarity and transparency to your clients’ closings.In November 2008, the Department of Housing and Urban Development added the new regulations to the Real Estate Settlement Procedures Act, including new Good Faith Estimate and HUD-1 forms, along with rules and timelines for their use. You may have noticed that some lenders implemented them last year. As of … (0 comments)
missouri real estate auctioneer paul roesch: Signs of Stabilization in U.S. Real Estate Market
- 05/10/10 03:22 PM
Trulia.com, smart real estate search to help you make better decisions, recently announced that 20% of current home listings have been reduced in price at least once, compared to 27% in April 2009, representing a 26% decline nationally. Trulia was one of the first companies to issue national price reduction reports and is available to provide historical data on trends taking place as early as April 2009.“With such a dramatic drop in home price reductions over the past year, we’re beginning to see early signs of stabilization in the housing market on a national level, as well as locally in certain … (2 comments)
missouri real estate auctioneer paul roesch: Quarterly Drop in Home Prices Doesn't Budge 5.1% Annual Gain
- 05/07/10 03:25 AM
Home prices across the United States continue to slide in the quarterly context, but industry data released Thursday indicates that when you widen the scope, year-over-year numbers are still showing a healthy bounce-back from the depressed levels recorded in 2009.Add to that the fact that REOs are coming to market at a much slower pace, and analysts at the real estate valuation firm Clear Capital say it just might mean the rapid deterioration in the housing market will have a shorter lifespan than originally feared.Clear Capital reported that nationally, home prices slipped 5.0 percent in April when compared to three months … (0 comments)
missouri real estate auctioneer paul roesch: Community Banks Weathering Recession Better Than Big Banks
- 04/23/10 03:41 PM
Federal oversight agencies and regulators have repeatedly warned that failures of small and mid-sized banks are expected to escalate. While many have gotten a handle on problems arising from the housing crisis,top officials have said losses from defaults on commercial real estate loans maturing in the next few years now threaten to topple nearly 3,000 of the nation’s community banks.It’s true that bank failures and government seizures continue at a pace not seen since the savings and loan (S&L) crisis of the 1990s. Already this year, 50 banks have been forced to shut their doors, after 140 went under in 2009. … (0 comments)
missouri real estate auctioneer paul roesch: Boom-Era Prices Won't Return Until 2025 for Some Markets says study
- 04/09/10 07:37 AM
For many U.S. markets, the return to peak home prices will be a long, slow road, according to Fiserv, Inc. The Wisconsin-based financial services technology company says markets that experienced the biggest price bubbles, including certain metro areas in California, Florida, Arizona, and Nevada, won’t see home prices return to pre-crisis levels until 2025 or later.That represents an unprecedented market cycle that will last a full generation from the top of the market in 2006 and 2007. Many other markets, including major urban centers in the Northeast and industrial Midwest, may need to wait a decade or more until prices return … (0 comments)
missouri real estate auctioneer paul roesch: Treasury Report Shows Lending by TARP Recipients Remains Constricted
- 03/21/10 01:51 PM
New loans made by the nine U.S. banks with the largest unsettled government bailouts declined 35 percent from December to January, according to federal data released this week.The Treasury’s monthly lending survey of the top Troubled Asset Relief Program (TARP) recipients with funds outstanding shows that collectively the nine banks in the upper echelon originated approximately $36 billion in new loans during the first month of this year.It was the smallest total since last October, when administration officials reported originations of $41.6 billion. Treasury said the decline may be partially explained by large increases in originations from November to December 2009.Credit … (0 comments)
missouri real estate auctioneer paul roesch: Commercial Real Estate Investors Have Recovery in Sight
- 03/21/10 01:27 PM
For the first time in two years, commercial real estate investors are expressing a renewed sense of optimism about the future. Based on their responses to a quarterly survey conducted by PricewaterhouseCoopers, investorsbelieve the worst has passed and a commercial real estate recovery is on the horizon, although they acknowledge that challenges do still exist.“Following the onset of the recession and the credit crisis, underlying fundamentals were deteriorating and overall cap rates were expanding simultaneously and quickly, causing values to plummet,” said Susan Smith, director, real estate advisory practice, PricewaterhouseCoopers, and editor-in-chief of the survey. “The worst seems to be over, … (1 comments)
missouri real estate auctioneer paul roesch: Real Estate Auctions Work - Condos sell for nearly $6 million above minimum
- 03/16/10 01:01 PM
A package of 165 condominiums in downtown Orlando, Fla. was sold for $25.9 million at an auction there Monday, the auctioneer, Fisher Auction Co., said.The winning bid compared with a minimum of $20 million set before the auction of units at a building called the Vue at Lake Eola and shows that investors are pouncing on what they see as bargains even in glutted condo markets like Orlando.The winner among the nine registered bidders was Condo Developer LLC. Michael Messersmith, a Chicago-based lawyer representing that firm, said it was owned by a family trust but he declined to identify the family. … (0 comments)
missouri real estate auctioneer paul roesch: Federal Reserve Report Paints Brighter Picture of U.S. Economy
- 03/08/10 12:55 PM
According to the Federal Reserve’s well-recognized Beige Book report, U.S. economic conditions have shown signs of improvement through the first part of this year.The central bank’s report is a summary of economic activity from businesses and contacts outside the Federal Reserve from across the country. Its latest Beige Book, issued this week, was compiled in preparation for the Fed board’s March 16th policy meeting and is based on information collected through February 22.Data from nine (Boston, New York, Philadelphia, Cleveland, Chicago, Minneapolis, Kansas City, Dallas, and San Francisco) of the 12 Federal Reserve districts indicated that economic activity improved, but in … (3 comments)
I sell real estate assets fast and economically. I auction household, estate, real estate and downsizing auctions. Brokers and agents encouraged for referral of sellers and buyers.
Paul Roesch cell: 618-407-8479
There has been some debate and confusion across the industry over the new RESPA rules from HUD that took effect Jan. 1 for lenders. While the key players iron out the wrinkles, you can focus on supporting the intent of the guidelines by bringing more clarity and transparency to your clients’ closings.In November 2008, the Department of Housing and Urban Development added the new regulations to the Real Estate Settlement Procedures Act, including new Good Faith Estimate and HUD-1 forms, along with rules and timelines for their use. You may have noticed that some lenders implemented them last year. As of … (0 comments)
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