2013 Connecticut Housing Market

The Connecticut housing market reached the highest level it had seen in three years in late 2012, and it isn't showing signs of slowing down. According to RE/MAX of New England, the region should expect continued improvement throughout 2013. Its 2013 Housing Forecast report indicates the market will shift from a buyer's market to a more balanced market as the year winds on. The report chalks up much of 2012's strong growth to record low … [Read more...]

2011 Connecticut Housing Market

Battling a 20-year low mark in home sales, Connecticut is dealing with the aftermath of the real estate crash with dwindling sales after the federal home buyer tax credit expired. But Fairfield County, home to four of the state's largest cities is seeing a rebound in sales that could usher in a change in the state’s major housing markets. Home sales have dropped in the majority of the country as a result of the credit’s expiration, but … [Read more...]

2012 Connecticut Housing Market

As an affluent neighbor of New York City, Connecticut is the east coast's home of Mc Mansions, driven by the need for comfort and the feeling of wealth perhaps more than any other state in the eastern corridor of the U.S. But those high cost homes come with a price, and that price just might be declining in value for a number of years. In Greenwich home prices actually show an improving trend with fewer foreclosures and bank assisted short … [Read more...]

Home Price Appreciation Jumps 2.5% for Year

By Mike Colpitts For the fourth straight month home values have increased in appreciation across the U.S., according to real estate research firm CoreLogic. Prices increased 2.5% in June compared to a year ago in the 100 largest metro areas the company tracks. On a month-over-month basis, including foreclosure and short sales, home price appreciation rose 1.3% in June compared to May 2012. The company’s forward looking Home Price Index shows … [Read more...]

Hardest Hit States Foreclosures Slow

By Ryan Jackson Three of hardest hit states in the U.S. housing downturn have seen foreclosures drop by more than 25% providing a major sign of improvement for the nation's housing market. Formal foreclosures in Nevada, Arizona and Michigan have been reduced at the highest level since the housing crisis started more than five years ago. Nevada experienced a 66% drop in foreclosures in the last year, according to RealtyTrac figures. The drop … [Read more...]

Foreclosures Drop Two Straight Months

By Mike Colpitts Demonstrating the U.S. largest five banks are following rules agreed to in their $25 billion settlement with 49 state attorney generals, foreclosures saw a drop for two straight months in March as lenders increased efforts with home mortgage holders, according to RealtyTrac. The drop in foreclosure activity showed there were 198,853 filings against U.S. residential properties during the month, a 4% decline from February … [Read more...]

Foreclosures Drop Two Straight Months

By Mike Colpitts Demonstrating the U.S. largest five banks are following rules agreed to in their $25 billion settlement with 49 state attorney generals, foreclosures saw a drop for two straight months in March as lenders increased efforts with home mortgage holders, according to RealtyTrac. The drop in foreclosure activity showed there were 198,853 filings against U.S. residential properties during the month, a 4% decline from February … [Read more...]

Mediation Can Save Homeowners from Foreclosure

By Kevin Chiu Millions of homeowners at risk of foreclosure can be saved from losing their homes through mediation, according to a new report issued by the non-profit National Consumer Law Center. The report reviewed existing foreclosure programs in 19 states to come up with recommendations for states to adopt. Programs the organization feels are successful, including those in Connecticut, Nevada and New York are documented as examples of … [Read more...]

Underwater Refinances Show Jump

By Mike Colpitts The Obama administration’s long criticized Home Affordable Mortgage Program (HAMP) showed a major improvement last week, pushing refinances for underwater homeowners higher, according to the Mortgage Bankers Association. “Although total application volume dropped on an adjusted basis relative to last week, refinance volume remains high, with survey participants reporting that the expanded Home Affordable Mortgage Program … [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...]