U.S. Real Estate Market Rebound

Recovery Forecast Not Until 2011 The U.S. real estate market will take at least three years to recover from its massive slump and it won’t fully rebound from the mortgage mess until at least some time in 2011, Housing Predictor forecasts. Housing Predictor analysts forecast the overall U.S. economy will suffer from a recession as a result of the crisis, which they expect to become evident in the nation’s overall economy by the third or … [Read more...]

Selling Your Home in Today’s Market

By Christine Hardenberger Gleaming granite countertops, stainless steel appliances, slate tiled bathrooms, and jetted garden tubs. Upgrading your home to sell used to mean sinking big money into high-end kitchen and bathroom renovations. Upgraded kitchens and bathrooms sold homes. Now, renovating your kitchen or bathroom could cost you far more than you'll ever make back at the closing table. In order to sell your home in today's buyers … [Read more...]

Homeowners Insurance Costs Soar

Propelled by massive pay-outs as a direct result of hurricane damage, Florida has the highest homeowners insurance premiums in the nation, according to a new industry study. The rise in policy costs account for more than a 10% increase in annual premiums. Other states are also experiencing large rate hikes. "Most homeowners over-pay for insurance and they don’t even realize it," said Kevin Wright, an insurance industry consumer advocate in … [Read more...]

Home Owners Trust Real Estate Agents

An over-whelming majority of U.S. home owners trust real estate agents to handle their property transactions and will use agents’ services again, a new Housing Predictor survey has found. The telephone survey of 511 homeowners scattered throughout the nation was conducted during the first two weeks of December at a time when the U.S. housing market is troubled by falling prices as a result of the credit crunch. Housing Predictor regularly … [Read more...]

Mortgage Rates Resume Drop

By Mike Colpitts Mortgage borrowing rates resumed their drop after a month of solid increases, according to Freddie Mac. The fixed 30-year home loan averaged 3.59%, down from a week ago when it was 3.66%. Adjustable rate mortgages also dropped, giving those shopping for mortgages a break. Mortgage rates have seen their highest hike in more than a year over the past month after U.S. Treasuries rose as a result of economic unrest. Rates paid … [Read more...]

Foreclosures Sell 32% Under Rest of Market

By Mike Colpitts Foreclosures or bank owned homes sold at an average discount of 32% below similar homes in the same neighborhood during the second quarter of the year, according to RealtyTrac. The price was two percent lower than a year ago. Foreclosure sales accounted for 23% of all U.S. residential sales during the second quarter, a single 1% hike from the first quarter. There were 224,429 foreclosure related sales during the period, … [Read more...]

Overwhelming Majority Favor Homeownership

By Mike Colpitts An overwhelming majority favor homeownership over renting despite the housing downturn, according to a new study. The results were found as part of a Fannie Mae survey that asked a variety of questions revolving homeownership and the economy. An astonishing 85% of respondants said they favor homeownership over renting based on the fact that owning a home was “financially better” than renting. Home values in more than 100 … [Read more...]

Mortgages Slow Despite Rate Drop

By Ryan Jackson A drop in mortgage rates did little to slow another decline in mortgage applications for the second straight week, according to the Mortgage Bankers Association. Home loan applications fell as interest borrowing rates on the 30-year fixed rate mortgage decreased to an average of 3.80% on fully executed mortgages. The drop in rates was the first in more than a month after borrowing rates have seen an upward trend since hitting … [Read more...]

Overwhelming Majority Favor Homeownership

By Mike Colpitts An overwhelming majority favor homeownership over renting despite the housing downturn, according to a new study. The results were found as part of a Fannie Mae survey that asked a variety of questions revolving homeownership and the economy. An astonishing 85% of respondants said they favor homeownership over renting based on the fact that owning a home was “financially better” than renting. Home values in more than 100 … [Read more...]

Cash Home Sales Slowly Decline

By Mike Colpitts Cash home sales, which hit record highs as bargain hunting investors plunked down greenbacks to reach feverish levels have declined as the inventory of lower priced foreclosures evaporates in many U.S. regions. The drop in cash sales follows a steady decline in bank owned properties, despite government slowdowns determining how many homes and other residential properties will be sold-off at a discount in bulk to investment … [Read more...]