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February 9, 2012
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Daily News Articles

  • $26 Billion Deal Could Offer Relief to Home Owners
    02/09/2012

    After months of tense negotiations, the nation’s five largest banks and state and government officials have agreed to a $26 billion settlement aimed at holding banks accountable for the mishandling of some foreclosures. 

  • Is the Foreclosure Crisis Finally Fading?
    02/09/2012

    Foreclosures decreased by 8.4 percent -- or 130,000 -- in 2011, according to research by CoreLogic. 

    "The pace at which properties are entering foreclosure is slowing," Mark Fleming, chief economist with CoreLogic, told CNNMoney. "And servicers nationwide stepped up the rate at which they were able to process distressed assets."

    So why are foreclosures dropping? 

  • Put Extra Consideration into Listings’ Profile Photos
    02/09/2012

    That property photo you choose for the profile of your listing is critical. A blurry photo -- or no photo at all -- may translate into fewer clicks for your listing online and, ultimately, fewer showings.

  • Facebook IPO to Heat Up Housing Market in Silicon Valley
    02/09/2012

    Silicon Valley in California is already known as a high-priced area, but an anticipated crop of new Facebook millionaires is expected to send housing prices even higher. 

    “I’m kind of worried -- a thousand millionaires are going to be buying houses!” says one buyer looking for a home in the area. 

    Silicon Valley is the home to Facebook, and with Facebook shares soon to be sold to the public, Facebook employees are expected to see a big jump in their paychecks.

  • 4 Tips for Buying Smart With New Construction
    02/09/2012

    For buyers who want new construction, be sure to educate them about some differences in buying "old" versus "new."

    Bankrate.com offers some of the following tips for smart strategies when buying new construction: 

  • Fourth Quarter Metro Area Home Prices Boost Affordability, Sales Improving
    02/09/2012

    Housing affordability conditions improved in most metropolitan areas from softer existing-home prices and record-low mortgage interest rates in the fourth quarter, with rising sales and lower inventory creating more balanced conditions, according to the latest quarterly report by the National Association of REALTORS®. 

  • Fannie Starts Accepting Online Offers for Properties
    02/08/2012

    Fannie Mae has announced that it is rolling out a pilot program nationwide that will allow real estate agents to now submit and track their offers online for Fannie Mae-owned properties. Once an offer is submitted, you’ll receive confirmation and be able to track its status through Fannie’s HomePath web site. 

    Fannie first began piloting the program for online offers in 2010 in San Diego, Orlando, Fla., and Detroit. It now be accepting online offers for properties nationwide. 

  • Major Foreclosure Servicer Charged With Forgery
    02/08/2012

    DocX, one of the largest companies in the nation to provide foreclosure services to lenders nationwide, has been indicted by a Missouri grand jury on forgery charges stemming from foreclosures against home owners in the state. 

    The indictment marks one of the “few criminal actions to follow reports of widespread improprieties against home owners” nationwide, The New York Times reports. 

  • Infamous Texas Squatter Finally Gets Evicted
    02/08/2012

    After eight months of squatting in a $340,000 home, Kenneth Robinson was finally forced to leave after a court ruled he did not have claim to the property.

    Robinson had lived at the Flower Mound, Texas, home since June 2010, although he neither rents or owns it. He has written an eBook and has a Web site, http://16dollarhouse.com, devoted to how he’s successfully squatted in the home while only paying $16 to do so.

  • Mortgage Applications Soar 7.5% on Low Rates
    02/08/2012

    Record low mortgage rates are creating more demand for mortgage applications. The Mortgage Bankers Association reports in its most recent weekly mortgage market survey that loan application volume increased 7.5 percent on a seasonally adjusted basis compared to one week earlier. 

    Refinance activity was due to most of that increase last week. Applications for refinancings increased 9.4 percent compared to a week earlier, while applications for purchases only ticked up slightly at 0.1 percent.