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 […]
Where To Find Foreclosures
In depressed markets, finding foreclosures is fairly easy; just drive around in neighborhoods and look for the signs hanging from the doors. The recent housing market has made it extremely easy lately to find foreclosed houses to invest in. Advertised in the paper, on street signs and even word of mouth, houses have been popping […]
Lenders Improving Foreclosure Quality
Real estate investors have been renovating properties for years in order to sell them more quickly and at a higher price point. Banks, on the other hand, have tended to let their REO properties remain largely “as-is” when they market them whenever possible. Now, however, with so much competition for buyers, many lenders are “sprucing […]
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 […]
Distressed Sales Drag Down Home Prices
An analysis of home prices through the end of February by CoreLogic shows a year-over-year decline of 6.7 percent when distressed properties – REO and pre-foreclosure short sales – are included in the numbers. Take out the distressed factor, and the company says home prices are “showing signs of stability,” down just 0.1 percent from […]
Selling a Home in a Foreclosure Market
If you absolutely, positively don’t have to sell in this market, then don’t, but if you must, whether now or five months from now, take the plunge now. The slowdown in foreclosure activity could mean somewhat less competition. But even more critical, there is the boomerang effect to take into account. The number of foreclosures […]
Rents Could Be On The Rise
Renters Beware: Double-digit rent hikes may be coming soon. Already, rental vacancy rates have dipped below the 10% mark, where they had been lodged for most of the past three years. By 2012, some are predicting the vacancy rate will hover at a mere 5%. And with fewer units on the market, rental rates will […]
High End Homes Selling Quicker
While home sales across much of the country have languished in recent months, struggling to pick up speed, a recent report says homes on the higher end of the market are selling with renewed vigor. According to DataQuick Information Systems, the number of home sales worth more than $1 million increased in each of the […]
Home Affordability Remains High
The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the February 2011 edition of the Obama Administration’s Housing Scorecard. The latest housing figures show increased existing home sales as home affordability remains high, but officials caution that the market remains fragile, as prices are unsettled. “In the […]