New home sales: Down 80% from the boom
NEW YORK (CNNMoney.com) — Don’t look to the new home market for glad economic tidings: Home builders had another dismal sales month in October, falling to just one-fifth of the sales rate during the boom five years ago.
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Real Estate Roundup for November
Real Estate Inventory up. Shadow Inventory Rose and Building Permits are Down.
Jason Gilbert Introduces SOCALCIA
In this video, Jason Gilbert, real estate investor and founder and President of SOCALCIA, inc. teaches what a Real Estate Owned (REO) is and how to maximize your profits with them.
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Right to Rent could change the nation’s foreclosure crisis: CEPR
In the wake of reform enacted to promote homeownership, analysts at the Center for Economic and Policy Research are saying that ownership may not be the smartest option. In a report released today, The Gains from Right to Rent in 2010, the CEPR suggests that giving homeowners the right to rent their house at a fair market price could be a game changer in the nation’s foreclosure crisis.
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Latest Real Estate Time Bomb: Title of Foreclosed Properties Clouded; Wells Fargo Dumping Risk on Hapless Buyers
Another ticking time bomb in the realm of real estate bad behavior is bound to go off sooner rather than later, and it is likely to impede normalization of values of residential property.
Erin Wicomb Presents Rehab Your Way to Riches
Thursday, Sep 23
Rehabs are where the BIG money in residential real estate is . . . Buy ‘em, Fix ‘em, Flip ‘em.
Erin recently started fixing & flipping at age 24 when he arrived in San Diego broke with no money, no family, no friends, no car and no job.
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1-in-5 O.C. homes selling at a loss
Almost one out of every five homes sold in Orange County last spring went for a price lower than what the owner had paid, according to online home tracker Zillow.com
While 18.2% of all homes sold for a loss, that’s down about 2.5% from the same period a year earlier. Zillow spokeswoman Jill Simmons said that losing deals in O.C. peaked at 25% in February 2009, the month after median home prices hit bottom.
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Real Estate Outlook: Mixed Figures
Real Estate Outlook: Mixed Figures
by Kenneth R. Harney
With sharp drops in sales of existing and new homes plastered over the front pages and leading the nightly newscasts, it’s no wonder the real estate doomsayers on Wall Street have been working overtime.
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Home values drop 0.2% from a year ago: Freddie Mac
Home values in the U.S. fell 0.2% in the second quarter of 2010 from the same quarter last year, according to the Freddie Mac Conventional Mortgage Home Price Index (CMHPI).
The CMHPI Purchase-Only Series includes only property values based on home purchases with a conventional mortgage. Freddie calculates the values for the nation, all 50 states and the nine Census divisions. The numbers are not seasonally adjusted.
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Disgruntled Short Sale Buyers Moving To “New” Homes
By David Fletcher
Recently, Tampa Bay Realtor Christine Hensley’s $153,000, 1800-square-foot ten-year old short sale cancelled unexpectedly. The seller allegedly could not get comfortable with what he would really owe the lender after the closing.
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Construction Spending in U.S. Declined Twice as Much as Forecast in July
Construction spending in July fell twice as much as forecast, led by a slump in homebuilding that will depress U.S. economic growth.
The 1 percent drop brought spending to $805.2 billion, the lowest level in a decade, after a revised 0.8 percent drop in June that wiped out a previously estimated gain, Commerce Department figures showed today in Washington. Spending on federal government projects fell by the most in a year.
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Loan picture improves but troubles remain: FDIC
(Reuters) – The U.S. loan picture improved slightly during the second quarter, with the amount of loans 90 days or more past due declining for the first time in more than four years, bank regulators said on Tuesday.
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Weekly Jobless Claims Swell to 484,000
August 12th, 2010
The number of initial unemployment insurance claims grew by 2,000 to 484,000 in the week ending August 7, swelling more than expected after last week’s initial figure was revised upward.
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Foreclosures rise in July
NEW YORK (CNNMoney.com) — The latest foreclosure numbers carried a mixed message: They’re up 3.6% from the month before but down 9.7% from 12 months earlier.
In July there were more than 325,000 foreclosure filings — including notices of default, auctions notices and bank repossessions. That is the 17th month in a row total filings exceeded 300,000, said RealtyTrac’s CEO, James Saccacio.
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Mortgage rates hit low of 4.44 pct.
WASHINGTON — Mortgage rates sank to the lowest level in decades this week, pushed down by the weak economy and the Federal Reserve’s move to help lift the recovery by purchasing government debt.
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