Posted on December 16th, 2009, by DHW
An unusually warm November (the 3rd warmest on record in 115 years) and the extension of Obama’s tax credit are credited with increasing building permits last month.
Building permits rose to 584,000 in November, while builders broke ground on 574,000 homes.
Consumer prices remained unchanged, giving support to the idea that an economic recovery will have little [...]
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Posted on November 16th, 2009, by DHW
Zero percent kitchen: n. a kitchen remodeled at the height of the real estate and credit bubble, between 2001 and 2006, featuring high-end details such as granite or Corian countertops; designer cabinets; stainless steel appliances and upgraded flooring (e.g. hardwood or travertine tile). Improvements were paid for with zero percent financing programs originated at home improvement [...]
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Posted on November 12th, 2009, by DHW
From The Washington Post : ‘FHA’s cash reserves have dropped well below amount required by law, audit shows’
DHW asks: Do you think the FHA’s reserves will hit zero?
FHA loan limits in your area
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Posted on November 12th, 2009, by DHW
U.S. foreclosures sank for a third consecutive month in October, down 3% from the previous month. However, many feel this trend will not continue. Foreclosure notices were curtailed in many states due to temporary, legislative intervention. CNBC reported Nevada foreclosures “dropped 26 percent from the previous month because of new legislation requiring mediation before initiating [...]
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Posted on November 11th, 2009, by DHW
In a CNBC interview this morning, Realogy CEO, Richard Smith, called on FHA to increase its minimum required down payment of 3.5%. Mr Smith suggested the ‘risk profile’ will have to change to stave off foreclosures. This argument only perpetuates the myth that those who put less money down are somehow less attached to their [...]
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Posted on November 11th, 2009, by DHW
The Miami Herald reported the Federal Housing Administration (FHA) is temporarily relaxing underwriting guidelines for some condominium communities. The changes are intended to increase condo sales and put occupants in otherwise vacant units.
DHW asks: Do you agree with the FHA’s decision to relax condo underwriting guidelines?
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Posted on November 10th, 2009, by DHW
Critics of the Housing Tax Credit were quieted, if only briefly, when the National Association of Realtors (NAR) released data for third quarter home sales. According to the trade group, home sales increased by nearly 6% over this same time last year. Despite the spike in sales, prices have fallen more than 11% during the [...]
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Posted on November 9th, 2009, by DHW
After dropping land and land deals like a bad habit, builders are scrambling to rebuild their lot inventories. The AP reports that builders are venturing back into once distressed areas that now appear to be stabilizing, selecting ‘choice’ lots to restore the inventories they developed or sold off to investors.
DHW asks: Do you think rebuilding [...]
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Posted on November 6th, 2009, by DHW
GovTrack, a self-described nonpartisan website, released Congressional votes on bill H.R. 3548 Worker, Homeownership, and Business Assistance Act of 2009.
See how Congress voted.
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Posted on November 3rd, 2009, by DHW
Housing and manufacturing appear to be leading the recovery. Today, Neil Irwin with The Washington Post reported that manufacturers expanded at their fasted rate in three years last month. ‘The Institute for Supply Management’s index of manufacturing activity rose to 55.7 from 52.6 in September. Numbers above 50 indicate that the sector is expanding, and [...]
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