Real Estate Industry News

Weather, not jobs, motivating long-distance house hunters

Dennis Norman — Fri, 18 May 2012 17:39:18 +0000

According to Trulia’s “Metro Movers Report” when people search long-distance for a new home their motivation for the move is warmer weather, not a job. Wow, I can relate to that….. In fact, according to the report, most long distance house hunters are looking in markets with higher unemployment and slower job growth than where

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What are the hot spots in the U.S. attracting home buyers? Well, I guess my wife and kids aren’t the only...
Ten cities that receive the most online home searches Realtor.com, which claims to have more traffic on it’s website...
Report shows homebuyers heading to the "burbs" According to a new report from Trulia, its Metro Movers...

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U.S. Foreclosure activity decreasing in the west and on the rise in the midwest and east

Dennis Norman — Thu, 17 May 2012 17:51:57 +0000

This morning, RealtyTrac released their U.S. Foreclosure Market Report for April 2012 which shows that foreclosure filings (default notices, scheduled auctions and bank repossessions) we’re reported on 188,780 properties in the U.S. during the month, a 5 percent decrease from the previous month and a decrease of 14 percent from April 2011 and is

Continue reading... U.S. Foreclosure activity decreasing in the west and on the rise in the midwest and east

Foreclosure activity falls to lowest level since 2007 This morning, RealtyTrac released their U.S. Foreclosure Market Report...
84 Percent of U.S. Metros Post Lower Foreclosure Activity in First Half of 2011 RealtyTrac released their Midyear 2011 Metro foreclosure report showing...
Foreclosure activity increases in January; down from a year ago though This morning, RealtyTrac released their U.S. Foreclosure Market Report...

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Report says housing market recovery to be led by demand by investors for rental property

Dennis Norman — Thu, 17 May 2012 03:45:00 +0000

According to a new report, The Shifting Nature of U.S. Housing Demand, by The Demand Institute, average home prices will increase by up to 1 percent in the second half of 2012. By 2014, home prices will increase by as much as 2.5 percent. From 2015 to 2017, the study projects annual increases between 3 and 4 percent. This recovery will not be uniform across the country, and the strongest markets could capture average gains of 5 percent or more in the coming years. Related posts:

“The flourishing rental market is the silver lining to the nation’s housing downturn A report released today by Zillow shows that median rents...
The best places to invest in rental property Las Vegas, Nevada is the best place in America to...
Where are the best places to buy rental property? Now that the real estate is showing signs of prices...

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New home construction continues to show modest improvement

Dennis Norman — Thu, 17 May 2012 03:04:44 +0000

The U.S. Census Bureau and US Department of Housing and Urban Development (HUD) issued their report on New Residential Construction for April 2012 showing an increase in single-family home building permits from the month before of 1.9 percent and a 18.5 percent increase in new home starts compared to the year before. Related posts:

New home construction activity continues to increase The U.S. Census Bureau and US Department of Housing...
New home construction continues at record low pace for the year Last month I talked about how in 1959 the...
New home construction on the increase The U.S. Census Bureau and US Department of Housing...

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Mortgage Rate Update; How does amortization work?

Robert Fishel — Wed, 16 May 2012 19:08:49 +0000

By committing to a mortgage loan, the borrower is entering into a financial agreement with a lender to pay back the mortgage money, with interest, over a set period of time. The borrower’s monthly mortgage payment may change over time depending on the type of loan (Fixed, ARM, Interest Only, etc.). However, for this article,

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Mortgage Rate Update; Why Refinance? With interest rates at all time lows, it is...
Mortgage Rate Update; The Benefits of ARM’s Even though over the past few years, ARM’s (adjustable rate...
Mortgage Rate Update; What is Private Mortage Insurance (PMI)? Mortgage Insurance, also know as Private Mortgage Insurance, is...

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Fed Reserve Governor Duke on the "Prescriptions for Housing Recovery"

Dennis Norman — Tue, 15 May 2012 19:20:52 +0000

Before you go getting too excited over my headline, I should point out that, even though Fed Reserve Board Governor Duke’s presentation today at the National Association of REALTORS mid-year meeting in Washington D.C. was titled “Prescriptions for Housing Recovery“, Governor Duke opened her remarks with “I wish I had such a prescription”. She went

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Groping Toward a Housing Recovery Last week I got to hear a presentation by Brendan...
Converting REO’s to rentals could help housing recovery according to Fed Official Federal Reserve Governor Elizabeth A. Duke, while speaking at the...
Report says recent good news on housing market is misleading; recovery is a long way off Following last week’s somewhat encouraging Pending Home Sales report...

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Minneapolis, Portland And San Francisco At Top of List of Most Bikeable Cities

Dennis Norman — Tue, 15 May 2012 03:42:51 +0000

According to Walk Score, the company that rates cities on how “walkable” they are, now has a “bike score” rating as well for cities. Coming in at number one with a bike score of 79 (the rating goes from 0 to 100) is Minneapolis followed by a tie for 2nd between Portland and San Francisco,

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Buying a home more affordable than renting in three out of four major cities A report released by Trulia shows that, based on current...
What cities have had the best recovery of the real estate market? Finally, after several years of writing depressing things about the...
Top 12 cities home buyers are searching online Chicago tops the list of the cities home buyers are...

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How to protect yourself from mortgage fraud

Dennis Norman — Sat, 12 May 2012 12:45:55 +0000

The collapse of the real estate market, along with a down economy has created a fertile environment for fraudsters to attempt to advantage of the many desperate homeowners that are out there. Their methods vary from foreclosure “rescue” schemes, mortgage assistance scams and other scams that generally offer to lower your payments or debt, prevent

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Businessmen, Loan Officer, and Title Company Attorney Indicted for Wire Fraud and Money Laundering in a Multi-Million-Dollar Mortgage Fraud Scheme HOUSTON—Two Houston businessmen, a mortgage company loan officer, and a...
Florida Loan Officer Sentenced in Connection with $2.5 Million Reverse Mortgage Fraud and Loan Modification Scheme A loan officer was sentenced Friday by U.S. District...
FBI Report Shows Mortgage Fraud Continues at Elevated Levels The FBI released it’s Mortgage Fraud Report for 2010 showing...

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Suspects in Multi-State Mortgage Fraud Scheme Charged in Chattanooga

News Desk — Sat, 12 May 2012 12:29:49 +0000

Joshua O. Dobson, age 34, of Kimball, Tennessee; and Paul E. Gott, III, age 39, of Jasper, Tennessee, appeared today in federal court before the Honorable Susan K. Lee, United States Magistrate Judge, on an indictment charging them with wire fraud in violation of Title 18, United States Code, Section 1343; and money laundering in

Continue reading... Suspects in Multi-State Mortgage Fraud Scheme Charged in Chattanooga

Businessmen, Loan Officer, and Title Company Attorney Indicted for Wire Fraud and Money Laundering in a Multi-Million-Dollar Mortgage Fraud Scheme HOUSTON—Two Houston businessmen, a mortgage company loan officer, and a...
Two California Men Indicted for $8.5 Million Mortgage Fraud Scheme KANSAS CITY, MO—Beth Phillips, United States Attorney for the Western...
Man Charged in $20 Million Mortgage Fraud Scheme MINNEAPOLIS—Earlier this week in federal court, a 52-year-old man...

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Mortgage loan delinquencies drop to lowest rate since 2009

Dennis Norman — Fri, 11 May 2012 16:35:25 +0000

More good news on the housing market! The national mortgage delinquency rate (borrowers that are 60 or more days past due) declined for the first 3 months of 2012, coming in at 5.78 percent according to a report issued by TransUnion. This is after increases in the delinquency rate in the prior 2 quarters and

Continue reading... Mortgage loan delinquencies drop to lowest rate since 2009

Mortgage delinquency rate increases for first time since 2009 This morning, Trans Union released a report showing the national...
Mortgage delinquency rate declines by largest rate in two years This morning, Trans Union released a report showing the national...
Foreclosures and mortgage delinquencies drop in February; good news for the real estate market Foreclosure starts and foreclosure sales were down in February 15...

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