Last week, we reported on the beginnings of the mess the banks created by using ‘robo-signers’ to fast track foreclosure filings. We detailed the challenge and said that “the process of foreclosing may grind to a screeching halt”. And, it has. Bank of America has announced that it has halted foreclosures in all fifty states. […]
10/11– Here is Forbes’ take on both Zillow and Trulia’s Rent vs Buy calculations. (h/t Cliff Freeman) ORIGINAL POST We have done many posts on the benefits of homeownership believing that owning a home remains a major piece of the American Dream. We have also posted on the pure financial benefits of purchasing a home. […]
The news about the housing market still seems to be dominated by stories of pending disaster. Headlines report that some believe that there is a 25% chance of a ‘double-dip’ in home prices. We can understand the concern. The last Existing Home Sales Report by the National Association of Realtors (NAR) showed that sales were […]
There is a pendulum when we look at real estate. On one side is Real Estate as an Investment. On the other is Real Estate as a Home – a place to raise a family, have the pride of homeownership, etc. In the house price frenzy of a few years ago, people looked at their […]
Just when you thought the real estate industry could not possibly become more surreal, IT HAS! The controlled flow of foreclosures to the market has been the number one concern of every housing analyst. There could be a ‘double dip’ in house values if they were released too quickly. The recovery could take years if […]
“If you don’t own a home, buy one. If you own one home, buy another one. And if you own two homes, buy a third and lend your relatives the money to buy one.” – John Paulson 9/27/2010 WOW! That’s a powerful statement. There is no question that John Paulson is a bull when it comes […]
The National Association of Realtors (NAR) will release their Pending Home Sales report today. The report will generate headlines and those headlines will seem in conflict with each other. The reason for the confusion is that there will be nuances within the report. In order to truly understand the report, we must peel away the headlines […]
The following blog post was written by Joanne Mills, a Keeping Current Matters subscriber on Long Island, NY. We enjoyed her post and received permission to share it with you, our readers. – The KCM Crew First, what is a home? This is what you will find in the dictionary. Home – noun 1. a […]
One thing I have learned is that many customers meet with a loan officer and fill out an application and then they feel like they enter a black hole. They don’t know “what happens next” or “who all these people are”. Today, I thought I might shed some light on the typical roles and responsibilities […]
All you read in the news today is that real estate prices have fallen dramatically in many areas. However, are lower prices a chance for purchasers to buy that second/vacation/retirement home they always dreamed of owning? We want to look at the second home buyer and see whether the current market presents a tremendous opportunity […]
Foreclosures have had a major impact on house prices over the last several years. The next six months will again see a flood of distressed property inventory coming to the market. Will this cause a ‘double dip’ in home values as some are predicting? We want to take a very objective look at this issue […]
We are in an interesting time in real estate. Every decision we make about our housing options seems to be tied to money. Articles are written explaining that prices will still drop and therefore buying a home makes no sense. Some people have judged whether living in their home over the last ‘x’ amount of […]
We write everyday on the housing market. We quote the Wall Street Journal, Moody’s Economy and a whole assortment of like resources. Today, we want you to hear what another type of expert on homeownership has to say. We’re sharing a comment we received from a reader earlier in the week. The author, to our […]
An interesting thing happened last week. For the first time since April, the interest rate for a 30 year fixed mortgage increased two weeks in a row. It didn’t increase much (.05%) but it was news because it had been so long since rates have ticked up. It will be interesting to see what the Fed reports […]
9/23 – As expected, the Existing Home Sales Report shows a 7.6% increase in month-over-month sales and a 19% decrease in sales year-over-year. No real news here. ORIGINAL POST The National Association of Realtors (NAR) will release the Existing Home Sales Report tomorrow. Be prepared for the confusion when the news media starts announcing […]
“Enough with the doom and gloom about homeownership.” – WSJ 9/16/2010 WOW! If that quote was attributed to the National Association of Realtors or the National Association of Home Builders, it would have been quickly dismissed. However, it was the Wall Street Journal that was calling for the end of the ‘doom and gloom’ talk […]
The real estate market has been going through some challenging times this year. The National Realtors Association’s (NAR) last Existing Homes Sales Report showed that sales were down 25.5% from the same time last year. Media headlines screamed that the housing market was screeching to a halt the following day. There is a segment of […]
Time Magazine’s cover story last week was titled Rethinking Homeownership: Why Owning a Home May No Longer Make Economic Sense. The webpage title for the online version of the article was After Housing Bubble, the Dark Side of Homeowner Dreams. The actual article title on the internet was The Case Against Homeownership. It is rather […]
While a vast majority of all mortgage products are fairly “vanilla”, there are a couple of other flavors of loans that, if you meet the criteria, may help you get approved, or may help make your purchase more affordable monthly, or lessen your need for as much cash to close. Recognize that each of these […]
Yesterday, we wrote a blog post about headlines that may result from the next few monthly reports issued by National Association of Realtors (NAR). The post addressed the fact that there were extenuating circumstances (the homebuyers’ tax credit) that would give the perception that demand had fallen off the charts. The analysis given explains why we […]
There are going to be some tough headlines written about the housing market over the next several months. They may create apprehension and in some cases outright fear. The good news is these headlines will not reflect what is actually taking place in real estate. Some in the industry say we should just ignore this […]
We are at a very interesting crossroad in the real estate industry. Whether you are buying or selling a home, you should not deal with ‘just anyone’ in real estate. You need someone who can explain what is happening in the market and help you understand your options. You want an expert, an industry leader. […]
On the anniversary of September 11th, it might make sense to re-evaluate our thoughts and feelings on the difficult times we are experiencing in the current housing market. Today, real estate and mortgage professionals readily discuss how difficult their job is. That day, hundreds of firefighters and police personnel willingly and courageously charged into two burning buildings. […]
The next three months will be interesting for home prices. The impact of the homebuyers’ tax credit is fading from the market and so are the buyers. We must realize that in September, October and November of last year buyers were rushing to buy a home before the expiration of the original tax credit (November […]
A new Home Buyer Tax Credit is unlikely. Interest rates can’t go much lower. So, how can a market where buyers who are afraid of losing their jobs begin to digest the massive quantity of current and shadow inventory without another major correction in pricing? Here are four “outside the box” ideas that deserve consideration: […]
