Section 203(k) insurance enables homebuyers and homeowners to finance both the purchase (or refinancing) of a house and the cost of its rehabilitation through a single mortgage or to finance the rehabilitation of their existing home.
According to a recent Deutsche Bank report, the following cities, among a few others, offer affordable homes to potential buyers: Atlanta: With the monthly rent of around 50 per cent more than average after-tax mortgage, Atlanta tops the list of cities for the most affordable housing. Despite the fact that it is now the most [...]
Fears of analysts were confirmed when Case Shiller Index was released last week. As expected by them the decline in prices is weakening homebuyers. According to Bloomberg, residential real estate values dropped the most in January in more than a year, contributing to the risk that US home sales would keep slowing further. The Standard & Poor’s-Shiller Index of property values in 20 US cities fell 3.1 per cent since January 2010, which is by far the biggest year-over-year drop since December 2009.
Scams abound in almost every industry in the nation. However, it seems that real estate scams are increasingly common, particularly in the online environment. The website in question is Craigslist, a “want ad” type of site, where people are allowed to post everything from jobs to furniture for sale. They can also post homes for sale if they like. The problem here is that many of these listings are not what they seem, and potential buyers are warned to be very careful using this site to find a home to buy.
While the nation might currently have one of the lowest rates ever recorded for new home construction, that does not mean that the housing market is dead. More and more existing homes are beginning to sell, which is most certainly a sign that things might be on the mend. Of course, that doesn’t mean that everything is coming up roses.
If CoreLogic’s statistics are anything to go by around 11.1 million households in the US (23.1 per cent of all mortgaged homes) were underwater in the October-December quarter. This means 10.8 million households, up from 22.5 per cent, during the July-September quarter. Although the number of underwater mortgages had fallen in the previous three quarters, it was largely due to more number of foreclosures. This has put many in a quandary, preventing them from selling their homes in an already weak housing market.
Currently, the US commercial real estate sector is witnessing stabilization, though in most markets the rent will continue to remain soft, with the exception of multi-family rentals.
The majority of property owners are unaware that their mortgage payments and job employment status had been going to extremely swing in different directions.
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.
Many experts agree that the commercial side of real estate has shown a steady improvement in recent months. But there are some areas of the industry that seem to be fairing better than others.
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