Major Metro Market Forecasts for 2010

The annual major 25 metropolitan housing market forecasts for 2010 are based on population densities in the Greater Metropolitan Statistical areas, and include housing and population density. The forecasts are listed in order from the most populated to the least. Housing Predictor forecasts are issued annually and updated as local market conditions in all of the 250 markets forecast evolve over the entire course of the year. More than 20 … [Read more...]

2011 New Mexico Housing Market

Growing unemployment and businesses exiting the state are hurting New Mexico housing markets, which are sustaining larger losses in sales and home values as the recession unwinds. Job losses in professional, construction and retail sectors are troubling New Mexico, which is one of the last state’s in the nation to be hit hard by the financial crisis. As homeowners lose jobs in rising numbers, a drag is emphasized on the economy in … [Read more...]

2011 Oregon Housing Market

An over-supply of homes and other residential properties are creating doubts among home buyers accompanied by a weak economy in Oregon, sending home values lower and into what appears to be the initial steps of a double-dip in housing. Growing unemployment in manufacturing, professional services and finance are hurting the economy. A Brookings Institution study found that Portland is one of the hardest hit cities. The study based its … [Read more...]

Home Appraisals Killing Recovery

By Kevin Chiu One out of three new home builders lost sales as a result of appraisals coming in at less than the agreed upon sales price in the last six months killing a recovery in the U.S. housing market, according to the National Association of Home Builders. Declining home prices in most areas of the country is a major issue for the economy, especially homeowners who are seeing equity in their homes evaporate. More than one in four … [Read more...]

Mortgage Rates Surge Higher

By Kevin Chiu Mortgage rates surge higher for the fourth consecutive week as Treasuries sold off at the highest level in six months, igniting tempers among many home buyers and homeowners who were waiting to lock-in rates, according to Freddie Mac. Mortgage rates have been particularly volatile as a result of the bond market. Rates on a conventional 30-year fixed rate mortgage rose to an average of 4.61% with 0.7 point up from 4.46% a week … [Read more...]

Refinance Wave Ends on Higher Mortgage Rates

After four straight weeks of falling loan applications to refinance home mortgages the wave of refinancing has apparently come to an end, according to the Mortgage Bankers Association. It’s the lowest the index has been since last June, demonstrating that most homeowners who wanted to refinance their homes or could qualify to do so have already completed refinances. However, home purchase mortgage applications increased slightly during the … [Read more...]

Refinancing Traps to Low Mortgage Rates

For three straight weeks mortgage rates jumped from their record lows, according to Freddie Mac. But is it a good time to refinance if you haven’t already caught the low rates? It really depends on what your financial situation and plans for your home are, so you can steer clear of refinancing traps, according to mortgage experts. The rule of thumb is that if you can lower the rate on your home loan by one percentage point and you plan on … [Read more...]

4-Million Receive Housing Assistance

By Kevin Chiu More than 750,000 homeowners received assistance through a Housing and Urban Development program funded by the American Recovery and Reinvestment Act (TARP) to prevent them from becoming homeless, according to HUD. The figure brings to more than 4-million families who have been helped through government programs and private bank initiatives to remain in their homes or find housing in response to the real estate crash. The … [Read more...]

Corporate Rentals to the Rescue

The downturn in the housing market is making it hard for many homeowners to sell, and becoming a landlord isn't for everyone. In the troubled economy a growing number of homeowners are looking for options to pay the monthly mortgage and corporate rentals could be the answer. Landlords report rising problems with tenants, who can't afford to pay the rent due to job losses with unemployment rates reaching 30% in the worst hit areas of the … [Read more...]

Pending Home Sales Surge

Driven by all-time record low mortgage rates, pending home sales surged in October as home buyers sought to take advantage of low interest rates before they rose, according to the National Association of Realtors monthly report. Pending sales, which are usually scheduled to close within a month or two and are still contingent upon inspections and mortgage financing, are especially hard-pressed in the current economy with restrictive mortgage … [Read more...]