Posts Tagged ‘housing report’

Over 10 million homes ‘underwater’ — and counting

Posted on November 24th, 2009, by DHW

First American CoreLogic, a real estate data company, reported that 10.7 million homes are worth less than the mortgages owed on them. This represents 23 percent of all homes mortgaged during the third quarter.
An additional 2.3 million homes are approaching negative equity.

“Negative equity continues to be pervasive and to impact almost every segment of the [...]

Tags: , , , , ,

The South will rise again, but in a good way.

Posted on November 16th, 2009, by DHW

A survey released last week by Move.com, a real estate website, shows 1 in 5 Americans plan on purchasing a home within the next year. The survey also revealed these buyers are most likely to be 34 years of age or younger and live in the South or West.
It should be noted this survey was [...]

Tags: , , , , , , , , , , , , , , , , , , , , , , , ,

Realtors forecast uptick in home prices 2010

Posted on November 14th, 2009, by DHW

Lawrence Yun, chief economist for the National Association of Realtors, predicted on Friday that home prices will rise in 2010. If his prediction holds true, home prices will see their first increase in four years.
Yun pointed to the current price-income ratio of 2.4 as evidence of pent-up demand in the market. The price-income ratio accelerated [...]

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Audit: FHA’s reserve funds way below what law requires

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
Share on Facebook

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Foreclosures down but not out

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 [...]

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Realogy CEO just doesn’t get it.

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 [...]

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

FHA loosens condo project guidelines

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?
Share on Facebook

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Critics be damned. Home sales up, prices down

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 [...]

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Citi and USA Today: 1 in 5 dressed like they want it

Posted on November 9th, 2009, by DHW

Last week, CitiMortgage suggested in a USA Today article that 1 in 5 homeowners currently in default of their mortgage are doing so strategically or voluntarily. They cite Sharon Sakson as one of these ’strategic defaults.’ Ms Sakson was laid off as a television writer and producer. After losing her job, she ‘burned through her savings to [...]

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Builders back on the saddle, land sales heat up

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 [...]

Tags: , , , , , , , , , , , , , , , , , , , , , , ,