Home prices are already one third off their highs, but this summer could bring the real discounts. Buyers are still cautious, and anxious sellers will have to price aggressively to get them off the fence. Several factors appear to be leading to blow-out prices: Accelerating price drops: Home prices have already reached their lowest level […]
U.S. Home Equity at Lowest Level in Generations
Home values are way down since the housing market hit its peak in 2006. The S&P/Case-Shiller Price Index, which is a measure of the home values in 20 metropolitan statistical areas is down by nearly a third since the market peaked. Although home prices were briefly buoyed by the 2009 and 2010 home buyer tax […]
Pending Home Sales Down – Foreclosures & Delinquences Drop
Pending home sales fell substantially in April with unusual weather and continued economic softness hindering a recovery in the housing market, according to the National Association of Realtors. The trade association, which has more than 1.2 million members, said its pending home sales index, which is based on contracts signed, decreased 11.6% to 81.9 for […]
High Gas Prices Changing Buyer Decisions
The rise in gas prices is influencing buyer decisions as they shop for a new home, causing more buyers to make short commutes and home offices a top priority, according to a recent survey of more than 1,000 real estate professionals about buyer trends. Seventy-five percent of the real estate professionals surveyed say the spike […]
Second Mortgage Defaults Post Sudden Increase
According to data released by S&P Indices and Experian, the default rate on second lien mortgages has increased for the first time in at least five months. The agencies’ report shows second mortgage defaults rose from 1.42 percent in March to 1.51 percent in April. First mortgages, on the other hand, saw a decrease in […]
Outlook for Condo Market Not as Bleak
Recent news has highlighted the severity of the renewed downturn in prices of single-family homes, but Capital Economics says although condominiums will not escape altogether, over the next year or so condo prices are likely to fall by less than their single-family counterparts. According to a market analysis released recently by the research firm, demand […]
Proposed 20 Percent Down Rule Draws Opposition
A proposed rule intended to prevent the kind of reckless lending and borrowing that heaped so many toxic mortgages into the marketplace in recent years has alarmed some groups, who argue the unintended consequences could worsen the nation’s housing troubles. The plan would require homeowners to make down payments of at least 20 percent of […]
Is It Becoming Time to Buy a House?
Given the recent experience in housing is real estate an asset that should be abandoned? Obviously not but that mentality has grown dramatically within many segments of our nation. Can you blame people for never wanting to venture back into the real estate market? No. It is understandable but it is not real estate’s fault. […]
Builders Break Ground on More New Homes
Builders broke ground on more new homes last month, giving the weak U.S. housing market a slight boost at the start of the spring buying season. Home construction rose 7.2 percent in March from February to a seasonally adjusted 549,000 units. Building permits, an indicator of future construction, rose 11.2 percent after hitting a five-decade […]
Fewer Americans Struggling to Pay Their Mortgage
Fewer Americans are having trouble paying their mortgages now compared to a year ago, according to a new Harris Interactive poll. About 22% of those surveyed last month said they had difficulty making their mortgage payments, down from 29% a year earlier. Additionally, 21% of respondents believed they were “under water” on their mortgage, meaning […]
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