In response to the glimmer of hope mentioned in this article, http://www.msnbc.msn.com/id/43099849/ns/business-eye_on_the_economy, that foreclosures are slowing down, don’t kid yourself. The 30-90 day delinquencies might be lower but, just like how unemployment rates are posted, it doesn’t paint the real picture of the health of the housing market. Case in point, the 90+ day delinquencies rose [...]
Archive for Real Estate News
Professional investors move into flipping foreclosed homes
This is a great article from the LA Times about our industry. Check it out below: Professional investors move into flipping foreclosed homes – latimes.com.
Foreclosed On—By the U.S.
James Currell is struggling to prevent his Minnesota home from being foreclosed. But his lender isn’t a bank. It is the U.S. government. The Federal Reserve Bank of New York is facing the prospect of foreclosing on a number of properties in the coming months, from homes to commercial buildings, a result of a souring [...]
American output: Minor disappointments
AMERICA’S economy performed just a little worse in the first quarter of 2010 than the Bureau of Economic Analysis previously estimated. Economists were expecting a slight upward revision to growth in the BEA’s second estimate of first quarter GDP, from the initial 3.2% expansion to 3.4%. Instead, growth was nudged downward, to 3.0%. The American [...]
Home prices under renewed pressure: S&P – Economy at a Crossroads- msnbc.com
Tax credits and historically low mortgage rates have failed to lift home prices so far this year. Prices fell 0.5 percent in March from February, according to the Standard & Poor’s/Case-Shiller 20-city index released Tuesday. That marks six straight months of declines — a sign that the housing market is going in reverse. via Home [...]
Mortgage Rates Are Range-Bound And Doomed To Rise
Mortgage rates in Cincinnati are low. Really low. Like, 30-year-fixed-under-5-percent low. It’s astounding, really. Mortgage rates weren’t supposed to drop this low but that’s not stopping people from looking the mortgage gift horse in the mouth. via Mortgage Rates Are Range-Bound And Doomed To Rise | The Mortgage Reports.
IMF Economist Argues Home Prices Still Have Far To Fall
Dour predictions about the housing market aren’t the norm anymore, as many economists have grown optimistic that home prices will begin rebounding strongly next year. But International Monetary Fund economists Prakash Loungani has found plenty of reasons to remain glum. Loungani, at a National Economists Club luncheon in Washington Thursday, presented his analysis of housing [...]
For Some REITs, Payout Date Looms
Real-estate investment trusts that sold convertible bonds during the go-go years thought they found a good source for cheap capital. But as the conversion dates approach, the bonds are becoming larger-than-expected liabilities. REITs sold $27 billion of convertible bonds from 2005 to 2007. At the time, companies expected most investors eventually to convert the bonds [...]
Experts see underlying weakness in housing
The housing market had a spring fling with buyers hoping to find bargains using the now-expired government tax credits and record low interest rates. Now it’s back to reality. The sweet sales pace of March and April, many experts agree, will sour by mid-summer, and the national housing downturn has not yet ebbed. via Experts [...]
More Bank-Owned Homes Likely to Hit the Market
It’s a bit like guessing how many pennies are in a gallon jug at the state fair, but housing analysts keep trying to count how many foreclosed homes banks and mortgage investors own. Why should we care? Unlike at the state fair, there is no prize for guessing right. Still, if we can track the [...]
