Monday
February 13, 2012
Home > News & Commentary > [term]

Daily News Articles

  • 6 ‘Turnaround Towns’ in Real Estate
    02/13/2012

    Florida cities are expected to see some of the biggest recoveries in housing prices in the coming months, according to a new report by Realtor.com that reveals the top turnaround towns. In fact, the signs are already there with drops in inventories and distressed homes, as well as higher listing prices and increases in sales.

    The following are the top six housing markets expected to see the biggest turnaround, according to Realtor.com. 

  • Could the Mortgage Deal Lead to a Jump in Foreclosures?
    02/13/2012

    A $25 billion mortgage settlement announced between major banks and state and government officials is supposed to bring aid to troubled home owners, but it could also bring a wave of new foreclosures, CNNMoney reports. 

    During the yearlong negotiations, some banks slowed down repossessing homes, and now they may have a backlog of troubled loans on the books — loans that can’t be saved by the deal’s aid on refinancing or mortgage principal reduction. 

  • Banks Offer More Cash Incentives for Short Sales
    02/13/2012

    More banks are offering home owners incentives to sell their houses in a short sale to prevent a costly foreclosure to the bank. In fact, some banks are offering struggling home owners as much as $35,000 to do a short sale, according to an article at CNNMoney.

    Many home owners have been surprised at banks’ recent willingness to approve short sales.

  • Major Metros Get Too Pricey for Some Buyers
    02/13/2012

    More Americans may be growing reluctant to buy homes in some of the nation’s priciest areas because of the high cost.

    “Even though people often say they want to live in urban neighborhoods where they can walk more and drive less, they get more for their buck where the car is king,” says Jed Kolko, Trulia’s chief economist. “Most long-distance searches are toward smaller, suburban, more sprawling areas, not toward the older, dense cities of the northeast.”

  • How to Work With Today’s Savvy Investors
    02/13/2012

    Investors nowadays are more willing to pay cash or make a large down payment as they seek to get in on real estate deals for renting or flipping, according to a recent article at Realty Times. 

    Some investors are eyeing real estate as a better investment than money market funds or stocks. 

    Julie Wyss, a short sale and luxury home specialist in Silicon Valley, Calif., offers some of the following tips in a recent article at Realty Times for working with today’s savvy investors: 

  • Fed Chair Says 'Normal Lending' Key to Recovery
    02/13/2012

    The Federal Reserve’s monetary policy and efforts to keep interest rates low have contributed to increased housing affordability. However, those strategies have not yet had the desired effect of stimulating the economy into a full recovery as banks have stuck to their guns on strict lending standards.

  • Income, Job Gap Between Young and Old Widens
    02/10/2012

    Young Americans are having it rough, according to a new study by the Pew Research Center. The generation of mostly 20- and 30-somethings have suffered from the biggest income losses than any other age group, the study found. What’s more, young professionals are less likely to have a job than any time since World War II. 

    The dire situation for young professionals has caused them in record numbers to shun moving long distances, delay marriage and kids, and move back with their parents in order to curb costs. 

  • What You Need to Know About the Mortgage Settlement
    02/10/2012

    A settlement announced this week among state and federal officials and the nation’s five largest banks is the largest joint state-federal settlement in history against an industry. The settlement, which amounts to somewhere between $25 billion and $26 billion, is aimed at fixing some of the mortgage abuses over the last few years that caused people to lose their home.

    So what does the settlement mean for home owners? 

  • 30-Year Mortgage Rates Hold at Record Lows
    02/10/2012

    The 30-year fixed-rate mortgage averaged 3.87 percent this week, matching last week’s all-time record low. As for other rates, they ticked up slightly this week, but still hovered around record lows compared to historical standards, Freddie Mac reports in its weekly mortgage market survey. 

  • Squatters Busted With Surprising Finds in Miami Home
    02/10/2012

    When a home falls into foreclosure and is left abandoned, you can never be too sure what you may walk into. 

    Authorities entering a home in Florida certainly were surprised and unsure what they’d find after the out-of-state home owner alerted them that two people had taken up residence in the home illegally. Authorities called in the bomb squad to take a look. They found drugs, a handgun, 10 grenades, and a pig roaming around the house. 

    A man and woman who were squatting in the home face weapon and drug charges.