Topic: Residential Real Estate Management and Development

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10 best cities to buy short sale homes

Foreclosures are tough: Homeowners lose their houses and ruin their credit, while banks get stuck with vacant, deteriorating real estate for months before selling it at a considerable loss. Increasingly, banks are finding another way: the short sale. Instead of waiting to foreclose, a bank preemptively sells a home at a deep discount and closes out the underwater mortgage, even if the house sells for less than the value of the mortgage. The result: Homeowners shed their mortgage debt, and banks unload properties more quickly and inexpensively. Here are the Top 10 metropolitan areas with the biggest average discounts on these pre-foreclosure homes, according to online foreclosure marketplace RealtyTrac. Can you guess which city is No. 1?
3 reasons not to attack Iran

As tensions over a defiant Iran and its nuclear program escalate, the debate in Washington over preemptive military strikes heats up, even as Israel warns the US it may attack Tehran's nuclear facilities. Edward Haley, professor of international strategic studies at Claremont McKenna College, gives three reasons not to attack Iran:
Top 10 cities where house prices are rising

House prices continue to fall nationwide, but here and there they’ve begun to turn up as Americans return to the housing market. Which 10 metropolitan areas have seen the biggest increase in the past year? The winners, according to the National Association of Realtors (NAR), include a state capital, a furniture-making center, and a resort that was once America’s foreclosure capital. Can you guess who they are?
Bullish on jobs? These 10 cities are.

Our list of the 10 metro areas that saw the most job growth in 2011 might surprise you.
How home prices are faring in six 2012 swing states

Home prices are recovering in some regions, fluctuating in others, and stuck in the basement in still others. How they are faring may yet be an important factor in the 2012 presidential election. Here's how home prices in metro areas in six swing states compare with those at the housing market's peak in 2006.

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The Circle Bastiat
Huge mortgage debts keep the housing market tumbling

Experts have been calling for the bottom of the housing market each year since the crash, and prices continue to tumble. Why? In an overwhelming number of cases, homeowners owe more on their mortgages than their houses are actually worth.
Paper Economy
Mortgage rates tumble to record lows. Again.

The average rate for a 30-year fixed rate mortgage declined 2 basis points to 3.81 percent  since last week, the lowest value on on record for this MBA series, while the purchase application volume declined 0.6 percent, and the refinance application declined 1.5 percent over the same period.
Home prices hit post-boom lows: What does that mean for housing market?

Despite fresh optimism about the housing market, home prices in the Case-Shiller Index fell during the first quarter, suggesting that the market is still stabilizing.
Stock market opens higher on hope for China

Stock market opened higher Tuesday amid optimism that China will take action to reverse the recent slowdown in its economic growth. Rising home prices also gave the stock market a boost.
Paper Economy
Mortgage rates slide to record lows

Mortgage rates continue to drop well below 4 percent. The average rate for a 30 year fixed rate mortgage declined 2 basis points to 3.83 percent since last week, the lowest value on on record for this MBA series. The purchase application volume declined 3.0 percent and the refinance application increased 5.6 percent over the same period.
Stocks mixed after Greek worries resurface

After gaining for most of the day, the Dow only finished up 2 points at 12503 Tuesday, as news out of Greece yanked indexes lower shortly before the closing bell.
Fixed mortgages: new lows for 15-, 30-year loans

Fixed mortgages for 30-year loan dips to 3.79 percent; 15-year loan averages. 3.04 percent. But record low rates on fixed mortgages have not ignited home sales.
Paper Economy
Housing permits on the rise

Single family housing permits, increased a notable 1.9 percent from March to 475,000 single family units, and increased 18.5 percent above the level seen in April 2011, but still remained  an astonishing 73.58 percent below the peak in September 2005.
Stocks fall; Dow continues two-week slide

The Dow lost 63 points to close at 12632 Tuesday as Europe's latest political impasse cast a gloom over financial markets.
Paper Economy
Mortgage rates inch down to 3.91 percent

The average rate for a 30 year fixed rate mortgage declined 1 basis point to 3.91 percent since last week while the purchase application volume increased 3.4 percent and the refinance application increased 1.3 percent over the same period.
Paper Economy
Hong Kong bubble? Housing prices rise.

In February, the price of residential properties  in Hong Kong increased a notable 2.05 percent since January and climbed 5.96 percent above the level seen in February 2011.
Paper Economy
Mortgage rates stay under four percent

The average rate for a 30 year fixed rate mortgage  went unchanged at 3.92 percent since last week, while the purchase application volume increased 2.9 percent and the refinance application declined 0.7 percent over the same period.
Paper Economy
Construction spending improves. Slowly.

On a month-to-month basis, total residential spending increased a slight 0.68 percent from February and rose 7.42 percent above the level seen in March 2011 while remaining a whopping 63.91 percent below the peak level seen in 2006.
Paper Economy
Rough first quarter GDP shows 2.08 percent growth

The first estimate of the first quarter Gross Domestic Product shows that on a year-over-year basis, real GDP increased 2.08 percent while the quarter-to-quarter non-annualized percent change was 0.55 percent.
Paper Economy
30-year mortgage rates fall to 3.92 percent

The average rate for a 30 year fixed rate mortgage (from FHA and conforming GSE data) declined 2 basis points to 3.92 percent since last week while the purchase application volume increased 2.7 percent  and the refinance application declined 5.6 percent over the same period.
Paper Economy
Home prices on the rise this summer?

Radar logic, a composite  of home price indices, shows national index increasing 0.71 percent  since January but falling 3.76 percent below the level seen in February 2011.
Paper Economy
Mortgage rates fall below 4 percent. Again.

The average rate for a 30 year fixed rate mortgage declined 4 basis points to 3.94 percent since last week while the purchase application volume declined a notable 11.2 percent and the refinance application umped 13.5 percent over the same period.
Paper Economy
New construction weak in March

Single family housing permits declined a notable 3.5 percent from February to 462,000 single family units, but increased 17.6 percent above the level seen in March 2011.
The New Economy
Ten sectors investors should avoid in 2012

Investors beware: If you want big returns this year, don't put your money in developing countries, banks, or homes (including yours).
30-year mortgage rate under 4 percent

30-year mortgage rates fall slightly to an average 3.98 percent, near record low of 3.87 percent that 30-year mortgages hit in February.
Paper Economy
Construction spending goes flat

On a month-to-month basis, total residential spending increased a slight 0.03 percent from January and rose 5.59 percent above the level seen in February 2011, while remaining a whopping 63.56 percent below the peak level seen in 2006.
Jobless claims fall to four-year low as economy rebounds

Unemployment assistance applications dropped to a seasonally adjusted 348,000, the lowest level since February 2008. The drop coincides with the best three months of hiring in two years
The New Economy
Existing home sales: Foreigners are buying. What's their impact?

Although existing home sales dipped last month, foreign buyers are snapping up US homes. In some markets, they may be putting an end to the downturn in existing home sales.
Paper Economy
Housing permits jump, but housing starts plummet

Single family housing permits increased a whopping 4.9 percent from last month to 472,000 single family units, but single family housing starts plunged 9.86 percent to 457,000 units.
10 best cities to buy short sale homes

Foreclosures are tough: Homeowners lose their houses and ruin their credit, while banks get stuck with vacant, deteriorating real estate for months before selling it at a considerable loss. Increasingly, banks are finding another way: the short sale. Instead of waiting to foreclose, a bank preemptively sells a home at a deep discount and closes out the underwater mortgage, even if the house sells for less than the value of the mortgage. The result: Homeowners shed their mortgage debt, and banks unload properties more quickly and inexpensively. Here are the Top 10 metropolitan areas with the biggest average discounts on these pre-foreclosure homes, according to online foreclosure marketplace RealtyTrac. Can you guess which city is No. 1?