Shae Bynes, Good Faith Investing
This has been on my mind so I thought I’d share my thoughts out loud.
To those who are hustling doing real estate investing, or trying to do real estate investing, or just simply thinking about doing real estate investing….
If you want to be successful, and I mean […]
In his most recent book, “The Housing Boom and Bust,” economist Thomas Sowell argues that the current financial crisis was partly caused by politicians who were attempting to solve an “affordable housing” crisis, which did not really exist on a national basis.
Land use laws and attempts to protect open space, block sprawl, etc, made […]
15-Year FRM Drops to Set Another New Low in Freddie Mac Survey History
McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.78 percent with an average 0.7 point for the week ending November 25, 2009, down from […]
This morning the U.S. Department of Commerce released a report showing the sale of New Homes in October were at a seasonally adjusted annual rate of 430,000, a 6.2 percent increase from the revised September rate of 405,000 and is 5.1 percent above a year ago.
As has been my […]
First-Time Homebuyer Credit Extended to April 30, 2010; Some Current Homeowners Now Also Qualify
WASHINGTON — A new law that went into effect Nov. 6 extends the first-time homebuyer credit five months and expands the eligibility requirements for purchasers.
The Worker, Homeownership, and Business Assistance Act of 2009 extends the deadline […]
This morning the S&P/Case-Shiller Index report for September was released showing that home prices in the US increased in 3rd quarter 2009 by 3.1 percent (seasonally adjusted) from 2nd quarter. The 3rd quarter index shows a 8.9 percent decline from a year ago, however this is a marked improvement from the 14.7 […]
Average value of home with “underwater” mortgage $210,300 – Average loan balance $280,000 – Average amount “upside down” $70,000
According to a report released today by First American CoreLogic nearly 10.7 million U.S. mortgages, or 23 percent of all mortgaged properties, are in a negative equity position meaning the borrowers owe […]
National Association of REALTORS Report:
According to the latest report released today from the National Association of REALTORS(R), existing home sales in October jumped 10.1 percent to a seasonally adjusted-annual rate of 6.10 million units in October from a revised level of 5.54 million in September, and are 23.5 percent higher than […]
The recent deep economic downturn has had a pronounced impact on commercial real estate sectors, but credit availability is the big unknown that will determine how soon commercial markets recover, according to the National Association of Realtors®.
Lawrence Yun, NAR chief economist, said some initial movements earlier this week in commercial mortgage-backed securities are encouraging. […]
Joy Jackson Personally Responsible for Over $16 Million in Losses to Mortgage Lenders; Used Over $800,000 of Fraudulently Obtained Proceeds to Pay for Her Wedding
U.S. District Judge Roger W. Titus sentenced the president of the Metropolitan Money Store, Joy Jackson, age 41, of Fort Washington, Maryland, today to 151 […]
Unemployment Remains Main Cause of Delinquencies
The second quarter of this year saw mortgage delinquencies reported by the Mortgage Bankers Association hit the highest level since they began keep track of the data almost 40 years ago back in 1972. Unfortunately that record didn’t stand long and was broken by the mortgage delinquency rate for […]
The IRS doesn’t restrict the home definition to just houses. A business that operates in an apartment, condominium, mobile home, or boat can qualify. The home definition also includes unattached structures on the property, like a garage, studio, barn, or greenhouse. Requirements Checklist
Ask yourself the following to see if you are eligible for […]
Even with a decline in new home starts and completions, new home construction activity is still outpacing new home sales potentially leading to inventories increasing again.
The US Census Bureau and US Department of Housing and Urban Development (HUD) issued a their report on New Residential Construction for October 2009 showing a decrease in […]
I believe smart real estate investors will continue to proceed with caution, and as much as we all want to believe the worst is over and the housing recovery has begun as is being reported more frequently throughout the media, I’m not so sure we are there yet…The data is just not […]
At the REALTORS(R) Conference and Expo in San Diego yesterday, a la mode, inc. announced the realease of it’s new DaVinci TourSketch System featuring interactive floor plans to help market homes. According to the company, tens of thousands of real estate appraisers currently use the product. The new agent version of DaVinci […]
A severe ongoing credit crunch in commercial real estate lending is hampering recovery, according to a commercial market update at the 2009 REALTORS® Conference & Expo. NAR Chief Economist Lawrence Yun shared insights into the commercial markets and the current lending environment during the “Economic Issues and Commercial Real Estate Business Trends Forum” here today.
Reduced home prices and the first-time home buyer tax credit have helped dramatically boost the lower end housing market, according to a residential market update yesterday at the 2009 REALTORS® Conference & Expo.
Lawrence Yun, National Association of Realtors® chief economist, said home sales continue to be dominated by lower priced homes. In fact, NAR […]
Of the many business entities that owners consider, Limited Liability Companies (LLCs) and Subchapter S Corporations (S-Corps) are two of the most popular. Although they share the distinction of being “pass-through” entities in addition to providing liability protection, they do have several differences. An owner must also consider operational ease, administrative requirements, profit-sharing and employment tax […]
The Justice Department announced it has filed a lawsuit today in federal court for the Eastern District of Missouri alleging a pattern or practice of violations of the Fair Housing Act by the owner and managers of Forum Manor Apartments, a federally-subsidized apartment complex, for refusing to rent to African-Americans and males, refusing to allow […]
The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending November 6, 2009. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) decreased 11.7 percent from the week before, bringing it to it’s lowest level since […]
Publishers note: If you have been reading our blog for a while you are probably aware we have been supporters and advocates of the home-buyer tax credit as well as the extension and expansion of the credit, which happened last week. We realize however, there are people that do not support the credits for a […]
Publishers note: We frequently published news releases having to do with allegations of, or settlements of, Fair Housing violations – the purpose of us doing so is to help educate landlords and heighten awareness of the various ways that a landlord may be violating the Fair Housing Act, even though in many cases there seems […]
The percent of American home owners with mortgages in a negative equity position fell to 21 percent in the third quarter of this year, down from 23 percent in the second quarter, as home values stabilized in the short term and more underwater homeowners lost their homes to foreclosure, according to the […]
Department of Justice Press Release
TAMPA—United States Attorney A. Brian Albritton today announced the results of a nine-month-long Mortgage Fraud Surge investigation that has resulted in charges against more than 100 defendants and involves allegations concerning more than $400 million in loans procured by fraud and more than 700 properties. U.S. Attorney Albritton […]
UPDATE 11/06/09 5:14 p.m. – Thanks to Denis T who was commenting on this post, click here to go to the IRS site with information on the new tax credits.
UPDATE 11/06/09 1:00 p.m. – I just heard that a short while ago President Obama signed the bill into law. IT’S OFFICIAL! So if you […]
UPDATE 11/05 2:00 pm – The House has passed the bill by a vote of 403 – 12 – It now goes to the President who is expected to sign today or tomorrow.
UPDATE 11/05, 12:35 pm- To read the section of H.R. 3548 that contains the details concerning the first-time home-buyer […]
Loose lending standards in government-backed mortgages is setting up the next wave of defaults and sharp declines in housing prices.
Charles Hugh Smith, Of Two Minds
Beneath the hype that housing has bottomed is an ugly little scenario: lending standards are still loose and the low-down payment, high-risk loans being guaranteed by government […]
The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending October30, 2009. The report showed an decrease of 1.8 percent in mortgage loan applications for a home purchase from the week before in spite of the fact interest rates slipped back below 5 percent again on a […]
Justice Department Obtains Record $2.725 Million Settlement of Housing Discrimination Lawsuit
WASHINGTON– The Justice Department announced today the largest monetary payment ever obtained by the department in the settlement of a case alleging housing discrimination in the rental of apartments. Los Angeles apartment owner Donald T. Sterling has agreed to pay $2.725 million to settle […]