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August 2010 Archives

July Worse Than Forecast

You know it can’t be good news when an article about home sales starts out like this: Analysts’ estimates for July home sales aren’t even close.

U.S. to Stay in the Mortgage Business

At a conference held last week to discuss the overhaul of housing finance, Treasury Secretary Timothy Geithner said that the Obama administration was not looking to perform “radical surgery” on the system, but was focused instead on creating a “new and improved” version of the current system where the government would subsidize mortgage loans made by private lenders.

Home Affordability Problems Persist

New research from The Urban Institute’s MetroTrends, which reports on social and economic trends in urban America, shows that despite a drop in home prices, affordability continues to be a problem for many Americans, especially in coastal metro areas.

REOs Reach New High

July foreclosure data from RealtyTrac shows that REO levels in July were at the second highest level since the company started reporting in April of 2005.

A Condo or a Car?

CNNMoney.com reports that several condo markets in the U.S. are seeing units priced “lower than a Toyota Corolla”, at or even below $25,000 in nice neighborhoods.

Foreclosures: There’s an App for That

In early July, ForeclosureRadar, the online service that provides market information on foreclosures in California, Arizona, Nevada, Oregon and Washington state, released an iPhone app to make all its information available to subscribers in a mobile format.

The FTC 8

The Federal Trade Commission has banned eight mortgage relief and foreclosure prevention marketers from plying their trade and fined them over $23 million for deceptive advertising. The eight individuals involved in three companies – two of them in California -- have also been ordered to return over $30 million in fees to fleeced consumers.

Real Estate Psychology

Recently, an article in Smart Money talked about the psychology of real estate and how large a role it plays in buyers’ home purchase decisions. Among the findings:

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