Wednesday , 10 February 2016
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Housing Crisis

Mortgage Credit: The Private/Public Paradox

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Next September, two months before the Presidential election, America celebrates eight years since the Treasury Department took over Fannie Mae and Freddie Mac and turned them into wholly owned subsidiaries. Since then the federal government’s control over the nation’s housing markets has grown even greater than ever. While we’ve been waiting for policymakers to fix a broken system of housing, ... Read More »

New Study Suggests MLS Sold Prices are Inflated in Down Markets

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  Transaction prices reported by multiple listing services may differ by an average of 8.75 percent from sold prices reported on HUD-1 settlement statements, possibly because brokers are under pressure to inflate prices in a declining market, according to a new study by three real estate economists at Florida Gulf Coast University published last month by the Appraisal Journal. In ... Read More »

Homeowners Still Overvalue their Homes

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Average appraised values in December were 1.8 percent lower than homeowners’ opinion of their home’s value, marking the 11th straight month when appraised values were lower than homeowners expected, although the gap between the two values has narrowed since August. The Quicken Loans’ national Home Value Index (HVI) – a measure of home values based on recent appraisals used in to ... Read More »

Counting Down to Positive Equity

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  The countdown has begun.  No, not the New Years’ Eve countdown! The countdown to retuning to a normal level of positive equity. Even in the best of times, a certain number of homeowners are going to pay too much for a house and it might take a few years until their principle payments and appreciation put them in a ... Read More »

In 10 Years, 13 Million Households will spend half their income on rent

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The crisis in housing affordability will only get worse in the deceased to come, according to new research by the Joint Center for Housing Studies at Harvard and Enterprise Community Partners Inc (Enterprise).  The number of households spending more than 50 percent of their income on rent is expected to rise at least 11 percent from 11.8 million to 13.1 million by ... Read More »

Homeowners’ Equity Takes Big Leap Forward

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Only 9 million out of 50 million mortgaged homes still have less than 20 percent equity at the end of the second quarter, a decline of 700,000 homes from the first quarter.  The percentage of under equitied homeowners fell from 19.9 percent to 17.8 percentage of homes with a mortgage, CoreLogic reported today. Borrowers who are “under-equitied” may have a ... Read More »

Owners Blow Home Valuations

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For the seventh consecutive month, the gap has widened between what home owners say their home is worth compared to what appraisers say, according to Quicken Loans’ August 2015 Home Price Perception Index. Home owner estimates now stand 2.65 percent higher than appraiser opinions, the largest gap in more than a year, according to the index. “The perception trend of ... Read More »

Condos Struggle to Recover

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  Appreciating home values in the bottom third of the market helped pull more homeowners out of negative equity in the second quarter of 2015, but condos were more likely than houses to be underwater , according to the Zillow® Negative Equity Report. •             The U.S. rate of negative equity among mortgaged homeowners continued to drop in the second quarter ... Read More »

Where O Where Have all the Sellers Gone?

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Not so long ago, when prices were plummeting and foreclosures pumped up the inventory counts with discounted values, homeowners and real estate professionals would have welcomed one of the chronic problems plaguing markets today; inventories so low that they inflate prices and keep move up buyers in homes they want to leave. The question everyone is asking: “What’s happened to ... Read More »

Foreclosure Starts Fall but Repos Rise

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Foreclosure activity rose in July, up 7 percent from the previous month and up 14 percent from a year ago. July was the fifth consecutive month with a year-over-year increase in overall foreclosure activity following 53 consecutive months of decreases. “The increase in overall foreclosure activity over the last five months has been driven primarily by rapidly rising bank repossessions, ... Read More »

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