The real-estate meltdown has gone deeper and wider than most people thought. Including me, I’ll admit. We’ve all witnessed the results, and naturally everyone wonders what’s next and what to do about it.
Evidence of a bottom
There are some signs that the relentless foreclosures and price erosion are easing. We may be hitting bottom.
1. Escrow index. [...]
Althea Morrow considered moving into an extended stay hotel when the home she was renting went into foreclosure.
Instead, she’ll be living with her 24-year-old daughter, who has a four-bedroom apartment.
“It’ll save a little money, and I can help my daughter financially with the rent,” said Morrow, whose two youngest children also will be bunking with [...]
Radio gadfly Joe Aldeguer – you know him from WLS as “The king of real estate! The wizard of creative thinking! The master of making the deal!” – has closed his suburban mortgage-lending business, the Mortgage Exchange, and faced foreclosure on two of his own properties.
Harris Bank filed foreclosure cases against Mr. Aldeguer to collect [...]
The good news in the worst housing slump since the Great Depression is that the real estate market in Cleveland is recovering. That’s also the bad news.
The Cleveland area led the nation for home price gains in April and May with an 18 percent jump in the lowest price tier of the S&P/Case-Shiller home price [...]
Rates on 30-year mortgages remained at the same level for a third week while rates on other types of home loans posted small declines.
Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.52 percent this week. That was the same rate as the two previous weeks and represented the second highest rate [...]
U.S. foreclosure activity rose 55 percent in July over year ago as the housing market slump triggered more defaults.
According to California-based Realtytrac, foreclosure activity in July rose 7.85 percent over June nationally.
In Virginia, foreclosure filings for July surged 193.26 percent, year over year, and 9.32 percent over June. Maryland saw a 40.20 percent increase over [...]
The number of homes sold in the state continued to slide in the second quarter, the Washington Center for Real Estate Research at Washington State University reported Thursday.
The sales of 89,380 homes in the quarter that ended June 30 was 8.5 percent below the sales in the first quarter and 31.7 percent below the second [...]
As house prices continue dropping and transaction levels reach a new low, financial solutions company ThinkMoney.com welcomes the recent falls in fixed-rate mortgage rates.
Recently, falls in the cost of wholesale funding have allowed lenders such as HBOS, HSBC, RBS and Woolwich to reduce their mortgage rates, reports Times Online. These cuts may not be not [...]
The overall real estate market in Florida has not fared well since the subprime mortgage crisis reared its ugly head. Miami topped the American Chronicle’s Worst 25 Housing Predictor Forecast in both 2007 and 2008, and was cited as possibly undergoing “the worst housing crash in national history.” But the market outlook in other parts [...]
The United States is still suffering the worst housing market downturn since the Great Depression, but a slew of factors suggest the worst may soon be over.
Among the strongest signs that the the hard-hit sector could be recovering, home prices in many regions of the country are now falling at a slower rate, after two [...]