Real Estate Headlines
Making your Home More Appealling
With the uncertainty of the economy, many people are looking for ways to
cut back. When it comes to selling their home, homeowners often don't
want to put much money into getting it ready for the sale. While that's
certainly understandable, properly preparing a home before listing it
goes a long way to helping attract serious buyers and offers.
http://realestate.yahoo.com/info/news/making-your-home-appealing-on-a-budget;_ylt=AuMwA8SYFUWV7DQPrqurEBekF7kF
For Sale by Owner: Tips for going it aloneMy mother is a realtor, so she really hates this topic. That said, with real estate prices down as much as 50% from the top in some regions of the country, sellers are loathe to fork over those commission dollars while having to swallow lower sales prices. If you are contemplating going it alone, watch this:Link
Home prices Rise in October
NEW YORK (AP) — U.S. home prices rose for the fifth month in a row in October, but the recovery continues to be uneven with only 11 of the 20 metro areas tracked showing gains.
The Standard & Poor's/Case-Shiller home price index released Tuesday edged up 0.4% to a seasonally adjusted reading of 145.36 in October from September. The index was off 7.3% from October last year, nearly matching expectations of economists surveyed by Thomson Reuters.
http://www.usatoday.com/money/economy/housing/2009-12-29-home-prices_N.htm
Ten Questions on the Volatile Housing Market
Lower prices have spurred home sales, but looming foreclosures and high unemployment are clouding the outlook
The U.S. housing market has been in a slump for the past four years. When will it ever end?
In recent years, real estate has proven as jittery and unreliable as any other market. The average U.S. home price nearly doubled between January 2000 and April 2006, according to the First American LoanPerformance index.
http://customsites.yahoo.com/financiallyfit/finance/article-108187-3225-5-10-questions-on-the-volatile-housing-market
Existing Home Sales Rise 2.4 %
WASHINGTON--Sales of previously owned homes in the United States rose at a slower-than-expected pace in May, an industry survey showed Tuesday, pointing to a sluggish recovery from the severe economic recession.
The National Association of Realtors said sales rose 2.4% to an annual rate of 4.77 million units from a downwardly revised 4.66 million pace in April. The May reading was below market forecasts for a 4.81 million-unit pace. However, sales increased for a second straight month.
http://www.foxbusiness.com/story/markets/industries/real-estate/existing-home-sales-rise-/
Signs of life in California Real Estate
NEW YORK (CNNMoney.com) -- No state has been harder hit by the housing bust than California.
It has piled up more foreclosures and has endured among the worst home-price declines. The median price of a single-family home sold in February was $247,590, down 41% from 12 months earlier, according to the California Association of Realtors (CAR).
http://money.cnn.com/2009/03/26/real_estate/California_comeback/index.htm?postversion=2009040311
February sees existing home sales rise by 5.1%
WASHINGTON – Sales of previously occupied homes jumped unexpectedly in February by the largest amount in nearly six years as first-time buyers took advantage of deep discounts on foreclosures and other distressed properties.
http://news.yahoo.com/s/ap/20090323/ap_on_bi_ge/home_sales
Mortgage applications jump 11%
NEW YORK (Reuters) -- U.S. mortgage applications rose for the first time in three weeks as near record-low interest rates spurred demand for home refinancing and purchase loans, data from an industry group showed on Wednesday.
http://money.cnn.com/2009/03/11/real_estate/mortgage_applications.reut/index.htm?postversion=2009031107
Mortgage rates hit six week high
The 30-year fixed rate jumped to 5.70%, and more volatility is expected as Senate debates the economic stimulus package.http://money.cnn.com/2009/02/05/real_estate/mortgage_rates/index.htm?postversion=2009020511
Low rates drive mortgage applications up 48%
NEW YORK (Reuters) — Mortgage applications surged to the highest level in more than five years in the latest week, as potential borrowers came out to refinance at interest rates near record lows.
Home builder sentiment at record low
LOS ANGELES - A key gauge of homebuilders' confidence remained at a record low this month, as builders continued to be overwhelmingly discouraged in the prospects of a housing turnaround amid a worsening U.S. economy and rising unemployment and foreclosures.
Foreclosures down 7%
WASHINGTON--The number of American homeowners dragged into the housing crisis fell last month to the lowest level since June as new state laws lengthened the foreclosure process, RealtyTrac reported Thursday.
Where US homes are losing value fastest
Home sellers continue to suffer amid wave of foreclosures
NEW YORK (CNNMoney.com) -- Selling a home in this market is hard enough. Competing in a neighborhood flooded with foreclosed homes that are heavily discounted is nearly impossible.
There are nearly a million repossessed homes on the market right now. And these homes, dubbed in the industry as REO (real estate owned) properties, are being marketed by the most motivated of all sellers - that is, the lenders stuck holding the bag when homeowners default.
6 common mistakes when purchasing foreclosures
Nothing illustrates the devastation of America's housing bust more vividly than the abandoned properties now blighting the nation's communities. In the third quarter alone, foreclosure filings were reported on more than 750,000 properties in the United States, a 71 percent increase from the same period last year, according to RealtyTrac. But for real estate investors, one person's tragedy can be another's good fortune. With so many foreclosures on the market, "this is a once-in-a-generation opportunity for many people," says Steve Dexter, a foreclosure expert and author of the forthcoming book Buy and Hold Forever-Building Real Estate Wealth Far Into the 21st Century.
http://realestate.yahoo.com/promo/the-top-6-mistakes-of-foreclosed-home-buying.html;_ylt=AgkQWXnd7lnpwir66Cv2BqTT4JF4
US unveils mortgage plan
The Bush administration on Tuesday unveiled a new program to modify mortgages and stabilize the battered real estate market, but the plan stops short of providing direct government financial help to at-risk homeowners.
Mortgage rates drop; 30 year average 6.20%
Mortgage rates dropped this week, providing a dose of welcome news to prospective home buyers.
7.5 million homeowners "under water"
At least 7.5 million Americans owe more on their mortgages than their homes are currently worth, according to a real estate research firm's report released Friday.
US frees Fannie, Freddie reins despite huge losses
Fannie Mae (FNM) and Freddie Mac (FRE) could have billions of dollars more to finance home purchases after the government on Wednesday on the amount of mortgages the government-sponsored companies can hold on their books.
US foreclosures up 75%
The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in 2007, according to data released Thursday.
Builders help buyers help themselves
Home builders are working with potential buyers, enrolling them in programs that address everything from credit-report errors to managing debt, in order to raise their credit scores so they can qualify for a mortgage or a better interest rate.
Freddie Mac post $2.5 billion dollar loss
Freddie Mac (FRE), the second-biggest provider of U.S. residential mortgage money, on Thursday said its loss widened more than expected to $2.5 billion in the fourth quarter as the housing crisis worsened.
Latest Home Price Drops Could Crimp Retirement
Home, for millions of Americans, is not only where the heart is. It's increasingly where the retirement account is, too. Yes, home equity, along with IRAs, 401(k)s and Social Security is viewed as one of the most important sources of retirement income to millions of homeowners.
1 in 6 homeowners currently "under water"
The relentless slide in home prices has left nearly one in six U.S. homeowners owing more on a mortgage than the home is worth, raising the possibility of a rise in defaults — the very misfortune that touched off the credit crisis last year.
5 Ways to Boost Your Home Value
These days, most homeowners are facing a scary reality: a rapid decline in their home's value. According to the National Association of Realtors, median existing home prices are down 7.1% from last July -- and aren't expected to recover until well into 2009.
Bank of America to Slash Mortgage Payments
Pros and Cons of For Sale by Owner
Despite the glut of homes on the market, falling prices in many areas, and competition from bargain-basement foreclosures, plenty of homeowners still want to sell their properties without a real estate agent.
Failed Deals Replace the Boom
Foreclosures on Million Dollar Homes Surge
More affluent folks are feeling squeezed and losing their mansions
Bailout Little Help to Homeowners
If it does pass, the plan calls for the Treasury to work with loan servicers to stem the tide of foreclosures. But just how that will happen remains unclear.
30 Year Mortgages Back Over 6%
Rates on 30-year mortgages, which had been falling for five weeks, jumped sharply this week, reflecting the turbulence in global credit markets.
Citigroup to Purchase Wachovia
In the latest byproduct of the widening global financial crisis, Citigroup Inc. will acquire the banking operations of Wachovia Corp. in a deal facilitated by the Federal Deposit Insurance Corp.
10 Cities Hardest Hit by the Meltdown
The upheaval shaking Wall Street will hurt privileged enclaves as well as working-class neighborhoods from coast to coast. Find out which will fare the worst.
Real Estate's Latest Game of Chance
“At the time, it didn’t seem dumb,” said Karen Crawford, in the breezy tone of someone who has been mercifully absolved of the consequences of a very bad decision. “I wonder how many people in America did the same thing.”
Price of exsisting homes sees record fall
Prices of existing homes in the United States suffered a record drop in August while the sales pace slowed and the overstock of homes shrank, the National Association of Realtors said on Wednesday.
Buyers getting cold feet
The shocking events over the last two weeks are hurting the already moribund real estate market.
Refi applications spike
Homeowners rushed to take advantage of last week’s drop in interest rates following the government’s takeover of Fannie Mae and Freddie Mac, but rates are rising again on investor fears about the eroding conditions in financial markets.
AIG may seek buyers for 16 billion in real estate holdings
Sept. 23 (Bloomberg) -- American International Group Inc., selling assets to repay a U.S. government loan, may seek buyers for some of its $16 billion in global real estate holdings.
Even in the most expensive zip codes, prices are down
Home values in enclaves such as Beverly Hills and Greenwich have slipped, but houses are still far from a bargain for most buyers