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Builders Feel the Most Upbeat in More Than 4 Years

Builder confidence is at its highest level since June 2007, yet another sign that things are finally perking up in the new-home market, which has faced some of its darkest days on record this past year. For the fourth consecutive month, builder sentiment

Existing-home sales continued on an uptrend

Existing-home sales continued on an uptrend in December, rising for three consecutive months and remaining above where they were a year ago, according to the National Association of REALTORS®. The latest monthly data shows total existing-home sales

Foreclosure Alert: Banks Clearly Preparing For REO Avalanche

It is not unusual to see foreclosures slow for the holidays, and the this year is no exception. Foreclosure starts were up slightly in Nevada and Washington, but the increases were insignificant given the recent declines in those states due to legislative

Report Predicts Drop in Delinquencies Next Year

--> The number of borrowers behind on their mortgage payments is expected to drop sharply by the end of next year, according to a new report released by TransUnion. Mortgage delinquency rates reflect the ratio of borrowers 60 or more days behind on their

Underwater Borrowers Hold Back Sales

Declines in home values have pushed a high number of home owners to be “underwater,” in which borrowers owe more on their properties than they are current worth, and it’s hampering home sales, according to new data by CoreLogic. About

Fastest Way to Sell a Home? Underprice By 10%

Home sellers probably won’t be too happy, but housing experts in an article at CNNMoney say that underpricing a home by 10 percent may help it sell faster. And while sellers may lose out on thousands from the sale, they likely will avoid months

Second Chance for Owners Who Lost Homes

More than 2 million home owners who were foreclosed on or were in the process of a foreclosure during 2009 or 2010 can now ask for a review of their case, banking regulators announced this week. The move is to help identify home owners who may have been

Affordability Reaches Highest Level in 20 Years

Homes are more affordable to more families, according to the latest index for the first quarter of 2011 that shows affordability reaching its highest level in more than 20 years. Nearly 75 percent of all new and existing homes sold in the first quarter

Buyers Better Hurry: Rates Reach New Lows

For the sixth straight week, fixed mortgage rates inched down, reaching new lows for 2011. The 30-year fixed-rate mortgage averaged 4.60 percent this week while the 15-year mortgage averaged 3.78 percent, Freddie Mac reports in its weekly mortgage market

Revamped Foreclosure Procedures Coming Soon

The country’s top mortgage servicers have reportedly reached an agreement on changes to their foreclosure procedures. The consent agreement has not yet been made public, but The New York Times was able to get a preview of what the agreement contains

After a short sale or a foreclosure, will there be taxes owed on the ‘forgiven debt’?

Consult your CPA for more details, but the bottom line is: most homeowners will not owe tax on the forgiven amount. Prior to the Mortgage Forgiveness Debt Relief Act (HR3648), homeowners of primary residences were subject to a “Phantom Tax”

December Existing-Home Sales Jump

Existing-home sales rose sharply in December, when sales increased for the fifth time in the past six months, according to the National Association of REALTORS ® . Existing-home sales , which are completed transactions that include single-family,

2011's Strongest and Weakest Markets

Home prices are expected to rise in 40 percent of major metropolitan areas, according to Veros Real Estate Solutions, a research firm that provides information to the mortgage industry. The markets Veros expects to be strongest are: 1. San Diego/Carlsbad/San

Existing-Home Sales Decline in October

Existing-Home Sales Decline in October Existing-home sales retreated in October on the heels of two strong monthly gains, according to the National Association of REALTORS ® . Existing-home sales , which are completed transactions that include single-family,

History will repeat itself

I hope all is well in your world today. I wanted to write you and give you some of my thoughts and opinions on what I see developing in the housing and economic climates. Home loan interest rates are at an all time low, as of 12 th August it hit 4.4 percent,
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