Real Estate Investors Daily

Real estate markets to watch in 2012

Dennis Norman — Tue, 07 Feb 2012 12:54:28 +0000

Where will the "Hot" real estate markets be in 2012? What would be the best cities to buy real estate in? Boy, wouldn't we all love to know the answers to those questions! Considering this is, by far, the worst, and longest lasting, downturn in the real estate market I have seen in my 33 years in the biz, and, last week, Lawrence Yun, chief economist of the National Association of REALTORS, called this a "very strange" market since the market was not reacting to low interest rates and high affordability, I think it is tough for anyone to predict what is going to happen. Having said that, Inman News came out with a list of 10 markets to watch in 2012 that they feel are showing "signs of strength" in areas including price-appreciation, jobs and a high rate of sales to population. Below you will find the list and, beneath that, you will find some charts on some of those markets I put together to show what the markets are like as well as some charts for some cities I think are worth watching that are not on Inman's top 10 list. [...] Related posts:

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Las Vegas Real Estate Agent and Mortgage Broker Convicted for Their Roles in Mortgage Fraud Scheme

News Desk — Fri, 03 Feb 2012 02:49:42 +0000

WASHINGTON – A real estate agent and a mortgage broker, both of Las Vegas, were found guilty today for their participation in a mortgage fraud scheme that netted nearly $2.5 million in fraudulent mortgage loans, announced Assistant Attorney General Lanny A. Breuer of the Justice Department’s Criminal Division, U.S. Attorney Daniel G. Bogden of the [...] Related posts:

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Mortgage Interest Rates Fall Again to Yet Another New Record Low

Dennis Norman — Thu, 02 Feb 2012 20:43:32 +0000

Today Freddie Mac released the results of its Primary Mortgage Market Survey, showing average mortgage rates have dropped to new all-time record lows! [...] Related posts:

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What are the hot spots in the U.S. attracting home buyers?

Dennis Norman — Thu, 02 Feb 2012 20:32:48 +0000

Well, I guess my wife and kids aren't the only people that want to move to Florida! According to a report released by Trulia, house hunters from all over the country are searching for homes in Florida. In fact, of the top 10 metro areas where demand among online house hunters is strongest, seven are located in Florida! Florida also, according to the report, leads the list of states existing residents don't want to leave as well with many times more people from outside of Florida searching for homes in Florida than searches outside the state by people living in Florida. The metro in the number 1 slot is Palm Bay-Melbourne-Titusville, Florida with 8.8 times more "inbound" property searches than "outbound" property searches. Wow! [...] Related posts:

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Home prices in U.S. fall in November – Back to mid-2003 levels

Dennis Norman — Tue, 31 Jan 2012 22:45:11 +0000

This morning, the S&P/Case-Shiller Index report for November was released showing US home prices decreased from the month before as well as the year before. The 10-city and 20-city composites fell by 1.3 percent each and the home price indexes were down 3.6 percent and 3.7 percent respectively from the year before. For a second consecutive month, 19 of 20 cities covered by the indices also saw home prices decrease. [...] Related posts:

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California Investor Pleads Guilty To Bid Rigging And Fraud At Public Real Estate Foreclosure Auctions

News Desk — Mon, 30 Jan 2012 19:52:10 +0000

A real estate investor pleaded guilty today in U.S. District Court in Sacramento to conspiring to rig bids and commit mail fraud at public real estate foreclosure auctions held in San Joaquin County, Calif., Sharis A. Pozen, Acting Assistant Attorney General of the Department of Justice’s Antitrust Division, and Benjamin B. Wagner, U.S. Attorney for the Eastern District of California, announced. [...] Related posts:

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Mortgage Rate Update; Should you Rent or Buy a Home?

Robert Fishel — Fri, 27 Jan 2012 22:31:21 +0000

Until recently, home ownership was no bargain compared to renting, according to Paul Diggle, a housing economist at Capital Economics. Recent data from the U.S. Census Bureau and published statistics from Thomson Datastream indicate that rising rents and falling mortgages are tipping the scales towards home ownership. The median monthly mortgage payment has fallen to about the same as a median monthly rent check. [...] Related posts:

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New homes sales fall in December and make 2011 worst year on record

Dennis Norman — Thu, 26 Jan 2012 11:56:40 +0000

Today, the U.S. Department of Housing and Urban Development and U.S. Census Bureau released new home sales data for December 2011 showing a decrease of 2.2 percent from the month before, and a decrease of 7.3 percent from a year ago. The seasonally-adjusted new home sales rate for December was 307,000 homes, down from an [...] Related posts:

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One in five home sales is a foreclosure and only two-thirds the cost of a non-foreclosure home

Dennis Norman — Thu, 26 Jan 2012 05:18:56 +0000

Foreclosure Price 34 Percent Below Average Price of Non-Foreclosures RealtyTrac, today released its third-quarter 2011 U.S. Foreclosure Sales Report, which shows that sales of homes that were in some stage of foreclosure or bank owned accounted for 20 percent of all U.S. residential sales in the third quarter of 2011, down from 22 percent of all sales in the second quarter and down from 30 percent of all sales in the third quarter of 2010. [...] Related posts:

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AG Settlement: Not Perfect, But Significant Reform of Mortgage Servicing

News Desk — Wed, 25 Jan 2012 04:32:11 +0000

Based on what we've heard, the settlement between major banks and states' Attorneys General (AGs), the federal Department of Housing and Urban Development, and the Department of Justice would represent an important step forward in addressing foreclosure abuses. The settlement would include key reforms to clean up unfair mortgage servicing practices. It would also provide an important template for ways banks can use principal reduction to reduce unnecessary foreclosures and put the country back on a path to economic recovery. [...] Related posts:

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