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Coming soon to a town near you – Hopefully NOT!

Dennis Norman

I usually try to keep the focus of my posts on this site on topics that, for the most part, apply to the entire real estate market, or selected areas that have a lot of investor activity (ie Florida) and shy away from local issues.  I’m going to make an exception today [...]

Existing home sales drops in January

Dennis Norman

According to the latest report from the National Association of REALTORS(R), existing home sales in January decreased 7.2 percent to a seasonally adjusted-annual rate of 5.05 million units in January from a level of 5.44 million units in December, however this does represent an increase over a year ago when the rate [...]

New Home Sales Plummet In January

Dennis Norman

The U.S. Department of Commerce released a report showing the sale of New Homes in January were at a seasonally adjusted annual rate of 309,000, an 11.2 percent decrease from the revised December rate of 348,000 and is 6.1 percent below a year ago. The inventory of new homes (seasonally adjsuted) at the [...]

Mortgage Rates Inch Up – Homebuyer Applications Decreased Again Last Week

Home Loan Applications Drop 7.3 Percent Last Week after decreasing 4.0 percent the week before.

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending February 19, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home [...]

Almost one-in-four borrowers underwater on home mortgage

Seventy Percent of all mortgaged properties in Nevada are underwater

Dennis Norman

According to a report released today by First American CoreLogic more than 11.3 million U.S. mortgages, or 24 percent of all mortgaged properties, are in a negative equity position meaning the borrowers owe more on their mortgage than their home is worth [...]

Housing Discrimination is Illegal – And Expensive

Dennis Norman

Maybe I’m naive, but it surprises me that some property owners are clueless about Fair Housing Laws or just blatantly disregard them…particularly owners and operators and large apartment complexes. I’m going to share information on another settlement, and an expensive one at that, the Department of Justice obtained from a property owner [...]

Housing Market Shows Narrowing Decline, Slowed Recovery

Dennis Norman

Home Prices Exhibit “Improving Declines” (sounds rather oxymoronic, huh?)

In a report issued by First American CoreLogic national home prices continue to decline with their HPI (Loan Performance Home Price Index) declining by 3.7 percent in December 2009 compared with the year before. If you take the distressed sales out (foreclosures, short [...]

Justice Department Settles Fair Housing Suit Against Condo Association

Author’s Note: I frequently publish stories on actions of the Department of Justice with regard to Fair Housing Laws…I do this not to draw attention to the parties involved in particular suit or case but to heighten the awareness of Landlord’s and other property owners of Fair Housing Laws and the repurcussions of violating them.

[...]

Home Prices Increase From November-to-December – First Time Since 2004

Dennis Norman

Radarlogic Housing Market Report Shows First November-December Increase in Home Prices Since 2004- Also shows a 44 percent year-over-year increase in housing transactions in December

Finally, some good news on the home front…literally. According to the Housing Market Report that was just released by Radarlogic, their RPX Composite Price, which [...]

Mortgage Loan Rates Remain Low – Fewer Home Buyers Taking Advantage

Home Loan Applications Drop 4.0 Percent Last Week.

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending February 12, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) decreased 4.0 percent from the week [...]

Mortgage Delinquencies Jump Over 10 Percent

Dennis Norman

Deceleration in Rise of Mortgage Delinquencies Short Lived

Back in July, 2009 when speaking in North Carolina President Barack Obama announced “we may be seeing the beginning of the end of the recession“. My thoughts then were that was very optimistic and I didn’t agree (for whatever that is worth). Since then some [...]

FDIC’s Sale of IndyMac to One West Bank – Sweetheart deal or not?

Dennis Norman

Last week a friend emailed me a link to a video titled “The Indymac Slap in Our Face” that was created by Think Big Work Small. I watched the video which gave a recap of the failure of Indymac bank back resulting in it’s seizure by the FDIC in July, 2008, and [...]

Looking for Love? Try the laundry room!

Valentine’s Day is a time for love…Are you feeling left out because you haven’t found Mr or Mrs Right?

Maybe you aren’t looking in the right places…. have you tried hanging out in the laundry room of Apartment complexes?

All right, I know what you are wondering, what does this have to do with real [...]

U.S. Foreclosure Activity Decreases 10 Percent in January

Overall Activity Up 15 Percent From January 2009, REOs Up 31 Percent From January 2009; More Than 300,000 Properties Receive Foreclosure Filings for 11th Straight Month

RealtyTrac® today released its January 2010 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 315,716 U.S. properties [...]

$1.4 Trillion in Commercial Loans Coming Due – Nearly Half Are Underwater

Dennis Norman

Commercial Real Estate to be the next “shoe to drop”? Can the banks suffer another blow?

This sobering statistic was included in the Congressional Oversight Panel report, “Commercial Real Estate Losses and the Risk to Financial Stability” that was released this morning.

 The report states the panel “is deeply concerned that a wave [...]

30 Year Mortgage Interest Rates Drop Below 5 Percent

Home Loan Applications Drop 7.0 Percent Last Week.

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending February 5, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) decreased 7.0 percent from the week [...]

Will that be Cash or Credit?

Dennis Norman

If you are a small to medium sized landlord odds are you receive your rent payments in the form of cash or a check.  Why not accept credit cards and debit cards for rent payments in addition?  This is something I did for years and think for many landlords it is worth the [...]

Unconventional thoughts on being a landlord

Shae Bynes, Good Faith Investing

I don’t blog much about my landlord experiences, but a conversation I recently had with an investor from St. Louis (with 30+ years of real estate investing experience) inspired this post. We were talking about our philosophy regarding landlording and it was a breath of fresh air to speak [...]

The Number of “For Sale” Homes Increased 2.9 Percent in January According to ZipRealty Housing Report

More Than 15,000 Additional Homes Were Listed for Sale in January Within 27 Major U.S. Housing Markets

Dennis Norman

January marked the first time in 18 months that more homes were listed “for sale” compared to the previous month, with an additional 15,000 homes, or a 2.9 percent increase, listed for sale compared to [...]

100 Dollar Leads

Nick Johnson, Subject2.com

This post is from being re-inspired by Cole Haynes. He recently posted on my Facebook wall that he purchased some from my suggesting that I make in my Subject2 Investing E-book. I believe also that Chris Guthrie (forgive me if I spelled your last name wrong) has started using them due [...]

Mortgage Interest Rates Hold Steady-Loan Applications Jump Over 20 Percent

Home Loan Applications Jump 21.0 Percent Last Week.

Dennis Norman

The Mortgage Bankers Association (MBA) released its weekly mortgage applications survey for the week ending January 29, 2010. The report showed the MBA Purchase Index (a measure of the volume of loan applications related to a home purchase) increased 21.0 percent from the week [...]

Realtor Pending Home Sales Index shows Real Estate Market Leveling off

Dennis Norman

Today the National Association of REALTORS released it’s December Pending Home Sales Index showing an increase of 1.0 percent in the index from November (seasonally adjusted) and a 10.9 percent increase from last year.

Here are highlights from the report:

December”s pending home sales index (seasonally adjusted) was 96.6 (the [...]

Landlords Should Maintain High Credit Standards When Selecting New Tenants, Says The National Association of Independent Landlords

Landlords with empty properties should maintain stringent credit standards – even if it means foregoing rental income, according to The National Association of Independent Landlords.

With the nation awash in vacant properties, a significant number of landlords now say they are willing to consider applicants with poor credit. But lowering criteria just to sign a [...]

New Home Sales Fall again in December

Dennis Norman

The U.S. Department of Commerce released a report showing the sale of New Homes in December were at a seasonally adjusted annual rate of 342,000, a 7.6 percent decrease from the revised November rate of 370,000 and is 8.6 percent below a year ago.

My Mantra

As has been my [...]