Fewer Purchase Contracts Were Signed In January
Less Americans signed purchase agreements to acquire properties in January, the most up-to-date data that the real estate market is actually having difficulties to increase above depressed levels.
Home » February 28th, 2011
Entries posted on “February, 2011”
Existing Home Sales Increased By Investors
Existing property sales increased for a third straight month in January, increasing 2.7 % on the strength of real estate investors snapping up deals in troubled real estate.
January’s gross annual rate of 5.36 million property sales additionally represented a 5.3 % yearly increase over January 2010 numbers, the very first time in seven months that sales numbers have surpassed those collected from one year earlier. The numbers were introduced today through the National Association of Realtors (NAR).
Resourceful Methods To Prevent Foreclosure
The majority of property owners are unaware that their mortgage payments and job employment status had been going to extremely swing in different directions.
R. E. Affordability Is Greater Than It’s Been For Years
“Today’s report shows that housing affordability at the end of 2010 was at its highest level since we started computing the HOI,” said Bob Nielsen, chairman of the National Association of Home Builders (NAHB) as well as a home contractor from Reno, Nev. “Nevertheless, even though this is good news for consumers, both property purchasers and builders continue to deal with incredibly tight credit conditions, and this continues to be a major hurdle to numerous potential property sales.”
Properties Prices Keep Falling
The most recent report coming from Zillow.com suggests that property prices are still dropping in October and they are currently 5 % under year ago levels.
The Reality Regarding Foreclosures
With home values down 25% to 75% country wide, there are without doubt significant buys available in real estate to be had. However with 1 million properties having been taken back by financial institution this past year alone, house foreclosures are no longer the exceptions or screaming deals.
Home Loans Delinquencies At 2 Year Low
The true percentage of home loan owners who have been late with their payments slipped to the lowest level in 2 years throughout the 4th quarter of 2010, the Mortgage Bankers Association stated in a statement today.
Southern Calif. Real Estate Market Extends Its Decline
Southern California’s real estate market extended its decline while home sales reach the lowest level for any January in 3 years, plus the average home value decreased year over year for the very first time since fall season 2009.
Wells Fargo Pushes New Thirty Percent Down Loan
Wells Fargo, the largest provider of loans in the U.S., has now come up with a new program that is already drawing some criticism. They have now established a mortgage that requires 30 percent down, which adds 10 percent to the usual program.
JPMorgan Chase Wrongly Overcharges, Forecloses Vets
Lender JPMorgan Chase has recently been in the news for overcharging active military personnel on their mortgages and for conducting foreclosure proceedings without the right authority.