Home Value News Archive
RISMEDIA, December 28, 2010—Improvements in consumer spending and consumer confidence, increased demand for goods and services, and falling unemployment claims are all positive factors for a brighter outlook as we move into 2011, according to the December 2010 Economic Outlook released today by Fannie Mae's (OTC Bulletin Board: FNMA) Economics & Mortgage Market Analysis Group.
RISMEDIA, December 28, 2010—(MCT)—A Bank of America freeze on foreclosure sales spread Friday to the Inland Empire in California after the biggest bank in the U.S. announced it was broadening an investigation into its foreclosure practices to all 50 states.
The halt, which took effect yesterday, adds to growing concerns that lenders have been repossessing homes without following proper protocol.
RISMEDIA, December 28, 2010—(MCT)—In response to the recent crimes against real-estate agents in the Youngstown and Kent, Ohio, areas, local real-estate brokers are reviewing safety precautions for their agents. These incidents remind all agents nationwide to review safety procedures when showing vacant homes. ...
RISMEDIA, December 28, 2010—Default risk on home loans in Ann Arbor, Mich., fell once again this quarter to its lowest level in more than five years, says a professor at the University of Michigan's Ross School of Business. ...
RISMEDIA, December 27, 2010—The U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the December edition of the Obama Administration’s Housing Scorecard. The latest housing figures show continued home affordability in the housing market, with interest rates near record lows, but the market remains fragile, as prices are unsettled. Foreclosure starts and completions dropped significantly in November, as lenders review internal servicing procedures.
RISMEDIA, December 27, 2010—Refinancings through the Home Affordable Refinance Program (HARP) increased 26% in the third quarter of 2010. Fannie Mae and Freddie Mac loan modifications through the Home Affordable
RISMEDIA, December 23, 2010—Existing-home sales got back on an upward path in November 2010, resuming a growth trend since bottoming in July, according to the National Association of REALTORS®. Existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose 5.6% to a seasonally adjusted annual rate of 4.68 million in November from 4.43 million in October, but are 27.9% below the cyclical peak of 6.49 million in November 2009, which was the initial deadline for the first-time buyer tax credit.
RISMEDIA, December 22, 2010—Improvements in consumer spending and consumer confidence, increased demand for goods and services, and falling unemployment claims are all positive factors for a brighter outlook as we move into 2011, according to the December 2010 Economic
RISMEDIA, December 21, 2010—In recent months, the real estate market has been impacted by several outside forces that have resulted in some uncertainty. While the tax credit has expired and some lenders are still working their way out of a foreclosure moratorium, the market is
RISMEDIA, December 20, 2010—(MCT)—Last spring, in the waning days of the first-time home buyer tax credit, Stephen Ploski made an offer on a foreclosed home in Farmington Hills, Mich. He said the 1,400-square-foot home was livable, but needed serious updates. He was willing to do the work, and take the risk. In exchange, he got a deal. The three-bedroom, one-bathroom home was his for $49,000. He lives in the home with his wife, Ashley and their daughter Lana.
RISMEDIA, December 16, 2010—As part of the 2010-11 Remodeling Cost vs. Value Report, REALTORS® recently rated exterior replacement projects among the most cost-effective home improvement projects, demonstrating that curb appeal remains one of the most important aspects of a home at resale time. "This year's Remodeling Cost vs. Value Report highlights the importance of exterior projects, which not only provide the most value, but are also among the least expensive improvements for a home," said National Association of REALTORS® President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I.
RISMEDIA, December 15, 2010—(MCT)—The number of homeowners in the U.S. who owe more on their properties than what those homes are worth has declined steadily for most of 2010, according to Santa Ana, Calif. research firm CoreLogic. But the drop in properties with negative equity has more to do with troubled borrowers losing their homes to foreclosure than an increase in prices. About 10.8 million, or 22.5% of residential properties with mortgages were in negative equity positions at the end of the third quarter. That is down from 11 million, or 23%, in the second quarter.
RISMEDIA, December 14, 2010—The number of price-reduced homes on the market this November increased dramatically compared to the same time last year, rising 24.1% according to ZipRealty's Price Reduction Index, a monthly review of MLS-listed properties in 26 markets surveyed by the real estate brokerage. ...
RISMEDIA, December 14, 2010—If you think roof leaks are only a problem if you live in a climate with frequent rain, think again. While roofing problems are obviously most often caused or exacerbated by rain, there are other just as insidious, but lesser-known, sources that contribute to roof leak issues. Whether you’ve got a new home or an older one, most roof shingles, on average, can go 15 years without needing repair—but that doesn't mean you should set the alarm for a decade and a half and forget about it.
RISMEDIA, December 13, 2010—(MCT)—President Barack Obama's nominee to lead Fannie Mae and Freddie Mac recently pledged to Congress to offer not just management, but leadership, if he becomes the new chief of the troubled housing agencies.