70 US Cities Forecast with Higher Home Prices

By Mike Colpitts Nearly mid-way through the year 70 U.S. cities housing markets are forecast to recover in 2012, and some of them are already making successful inroads on their way with appreciating home prices. The cities include five that were forecast by Housing Predictor at the beginning of the year to appreciate in value, including Miami, Florida which is seeing unparalleled appreciation in the single family home market and … [Read more...]

2013 Alaska Housing Market

The economy, including the real estate market, is getting back on track in Alaska. In Anchorage, the real estate market is showing recent increases in single-family home sales, along with higher sales prices and a lower inventory, which is also contributing to more new construction. Single-family home sales were up 12 percent in November, with those homes' prices up 5 percent. The only potential cloud on the Alaska real estate market … [Read more...]

Home Prices Forecast Higher

By Mike Colpitts Home prices in a larger number of cities are forecast to inflate in value in 2012 as many U.S. cities make inroads towards a housing recovery. Signs of progress are developing in a growing number of U.S. states, including hard hit Florida, Michigan and Mississippi. Improving conditions in many cities are attributed to growing job creation and higher prices being paid for some commodities, spurring home sales and higher … [Read more...]

Real Estate Recovery Likely to Produce Higher Home Prices

By Mike Colpitts The fallout from the real estate collapse is starting to see a turn around in some areas of the U.S. Home sales slid 7.4% in March in western U.S. states but fell more modestly in the rest of the country, according to the National Association of Realtors. But home prices in some regions are rising, delivering a promising sign for a nationwide recovery. The national median existing home price was $163,800 at the end of … [Read more...]

U S Foreclosures Drop Huge

By Mike Colpitts Formal foreclosures or homes that were repossessed by their lenders accounted for 830,000 U.S. homes in 2011, a huge drop of 24% from 2010, according to real estate data research firm CoreLogic. The decline comes as a result of moratoriums enacted by the nation’s five largest mortgage lenders to study damage from the robo signing scandal, and other judicial delays in many areas of the country. CoreLogic also says that 1.4 … [Read more...]

2012 Alaska Housing Market

In the extreme north-west corner of North America, Alaska is disconnected from the contiguous United States, and it has little association with the rest of the country when it comes to hard times in the housing market. Alaska home prices are maintaining their value much more than most of the rest of the nation. Sale prices rose about 1% a year in most of Alaska from 2007 through 2010, and slightly more in its most populated city, Anchorage. … [Read more...]

The Next Big Real Estate Boom Includes Oil

By Mike Colpitts The next big real estate boom might not be in such a pretty place – unless you consider shale formations of grey crumbling rock a thing of beauty. But an unlikely region of the remote northern U.S. holds a fortune for America's future. It’s the biggest oil discovery since Prudhoe Bay, Alaska and it will soon send real estate prices up to Bluesky territory. The windswept prairies are humming with oil rigs, and there’s … [Read more...]

Home Prices Decline Year Over Year

By Kevin Chiu Home prices declined an average of 4.4% on a year-over-year basis in the U.S. through August, despite a slight increase in home values over summer months as a result of higher home sales, and record low mortgage rates, according to real estate research firm CoreLogic. The decline in home values echoes Housing Predictor forecasts for most U.S. cities for the year. The 0.4% August drop was the first decline in four months after … [Read more...]

Jumbo Mortgage Rates to Feel Little Impact

By Mike Colpitts Loan limits on jumbo mortgages are scheduled to be slashed as a result of changes required in the Housing and Economic Act of 2008. However, the impact is expected to be limited by many lenders. The Federal Housing Administration (FHA) will reduce mortgage limits on loans in the highest metropolitan areas of the U.S. on jumbo loans, while limits will be left unchanged in the over-whelming majority of the country. Jumbo … [Read more...]

Mortgage Defaults Surge Higher

By Kevin Chiu Mortgage defaults, the first step homeowners face in the foreclosure process, surged higher during the month of June demonstrating an increase in future anticipated foreclosures growing at the fastest rate in more than a year, according to Lender Processing Services, a real estate data supplier which tracks defaults. The surge in mortgage defaults shows the expected rise in foreclosures may be just months off as the housing … [Read more...]