AS HOME VALUES HAVE CLIMBED, folks who own property find themselves in the position of seeing their equity increase, in some cases at a fairly rapid pace. For some, this means a home that was previously underwater has returned to positive equity. Many homeowners who purchased at the bottom of the market have enjoyed a […]
Making $ense of Real Estate: Housing prices slow, but headwinds to homeownership remain
THE OUTLOOK FOR HOUSING SEEMS BRIGHTER after two reports this week reflected stronger-than-expected gains in new and existing home sales. Values are still rising, but at a much slower rate than in previous months. In a joint news release, the U.S. Department of Commerce and the Department of Housing and Urban Development announced new home […]
Making $ense of Real Estate: Deceptive practices
THE FEDERAL TRADE COMMISSION recently announced a settlement with a Houston based mortgage lead generator to pay a $225,000 fine for deceptive and misleading conduct. The company operates several websites targeting mortgage borrowers. In the complaint filed by the FTC the Texas based company was alleged to have advertised Adjustable rate mortgage rates as Fixed […]
Making $ense of Real Estate: Another good sign in the road to recovery
THE CALIFORNIA ASSOCIATION OF REALTORS RELEASED THE RESULTS of its April pending and distressed property sales survey recently, and the news for homeowners remains good throughout California, and in particular the Bay Area. Distressed property sales are defined as homes that sold either through a bank-owned or short-sale process. In other words, these homes were […]
Making $ense of Real Estate: Reversing course
FOR MANY AMERICANS, THE EQUITY IN THEIR HOME is their biggest retirement planning asset. Many folks who are entering retirement will sell their home to cash in on the equity they have built up over many years of ownership. Often, retirees will sell their homes in high-cost areas and relocate to lower-cost areas where their […]
Making $ense of Real Estate: The new retirement
BABY BOOMERS ARE REACHING THE TRADITIONAL RETIREMENT AGE of 65 at a rate of about 8,000 each day. Many surveys suggest this generation that has redefined many aspects of American life also will redefine retirement, or perhaps not retire at all. Some studies suggest that as many as 28 percent plan to never retire, and […]
Making $ense of Real Estate: Loan woes
LAST WEEK I WROTE ABOUT THE COMMON PERCEPTION that obtaining a mortgage loan today is very difficult. One reason that mortgage lenders scrutinize loan applications so carefully is the fear of “buybacks.” The vast majority of residential mortgages are sold to Fannie Mae and Freddie Mac by mortgage companies and banks after they are originated. […]
Making $ense of Real Estate: An upswing?
IN PREPARED COMMENTS BEFORE CONGRESS LAST WEEK, Federal Reserve Chair Janet Yellen cited continued weakness in the housing sector as one concern of the Fed as it mulls its next move on interest rates. Over the weekend, national business news outlets reported there was no reason to be concerned, but the housing market remains soft […]
Making $ense of Real Estate: Helping vets
I MET WITH A YOUNG COUPLE LAST WEEKEND to review and sign their final loan documents. There was nothing unusual about this, except in this case the couple was finalizing their Veterans Administration home loan request. It used to be that I would assist dozens of veteran borrowers each year, but in the last several […]
Making $ense of Real Estate: Foxes in the hen house?
AT THE HEIGHT OF THE HOUSING CRISIS, banks were besieged by legions of homeowners defaulting on their home loans. Millions lost their homes to foreclosure or short sale in the worst economic times since the Depression of the 1930s. But what happened to all those houses? And where did all those families go that lost […]