December was not a prosperous month for previously owned home sales. The rate of decrease was down 16.7% to 5.45 million. This drop is considered to be the biggest drop in 42 years, the National Association of Realtors said. Another concern is regarding the government policies that are set to expire.
Tag: Real Estate
Another Decade Before Home Sales Reach Bubble Heights?
The housing bubble burst has financially hurt many homeowners. At this point most want to hold on to their homes until it reaches the value they originally bought it for. Are these individuals only dreaming or will prices reach that level again?
Decline in Home Values Levels Off Payback
We will no longer see great decrease in home values; however they are still gradually decreasing. From January to November there was a 1.9 percent drop in home prices resulting in a loss of $489 billion. This is not so bad considering the loss last year of $3.6 trillion, which is a 12.8 percent drop.
1 in 4 Borrowers Under Water
Unfortunately, it is not a surprise to us that more and more Americans are at risk of losing their home. Some might be able to save their homes and others are not as fortunate. The First American report found that 5.3 million U.S. homeowners have mortgages that are 20% higher than their homes value.
California’s Home Inventory Shrinks to 5-Year Low
The housing market is considered a major economic indicator. If the housing market is doing well it reflects positively on the rest of the economy. As of now the inventory of houses in the California area are considered low compared to the statistics from a few years back. This report may have a double meaning […]
B of A, Wells Fargo Results Bolstered by Mortgage Operations
Mortgages are defaulting, yet lenders have been profiting from that department. Bank of America and Wells Fargo have seen an increase in their profits compared to last year’s lows. New loans, most of which are bought by Fannie Mae, Freddie Mac and the FHA are the main reason for the profits major lenders are able […]
Loan Program Improves, U.S. Says
Concerns about lenders not working with their clients to help modify their loans with the government programs that are available, seems to show improvement. The treasury department found that the temporary modifications that were made permanent have doubled in December.
Southern California Housing Market Strengthens
When selling a home many obstacles may come in your way. From client questions and concerns to weather delays. December is known to be a slow month for the housing market. Surprisingly, report shows that last month’s sale price was up by 4% compared to the year before.
Buyers: What You Need To Know
Purchasing a home is a major step in an individual’s life. Buying a home may symbolize an addition to the family, increase in income, relocation and possibly now you may need or want a bigger kitchen or closet space. The reasons are endless; they can be emotional or logical. Whatever the reason may be doing […]
Obama Proposes To Tax Largest Financial Firms
President Obama wants the bailout money paid back with additional fees attached. He wants to impose a tax on the banks who are now repaying the bailout money back. “Every single dime the American people are owed, [will be returned],” said the President. “If these companies are in good enough shape to afford massive bonuses, […]