February 28, 2011 U.S. home prices fell 4.3% on a year-over-year basis in the fourth quarter as foreclosures and slowing sales buoyed inventory levels, Freddie Mac said Monday in its Conventional Mortgage Home Price Index. “Foreclosed-property and short sales remain a big part of the market. However, new foreclosures will begin to gradually slow,” said …
Monthly Archive
for: ‘February, 2011’
Market Update – Sales Activity YTD Sun Valley Area
Sales Activity is up while inventory is down This chart shows a portion of information currently available online. More information is always available for our clients by request . . .
According to the Wall Street Journal “The Great Mortgage Race Is On”
If you have been sitting on the fence trying to decide whether to buy a new house or refinance a mortgage, you should act soon. New loans are starting to get costlier. The mortgage market is facing pressures from new laws and regulations, still-declining home prices and the ongoing need for government-owned mortgage players to …
U.S. Pushes Mortgage Deal Worth Billions In Loan Reductions
Obama Proposal Seeks Multibillion-Dollar Settlement of Loan-Servicing Cases By NICK TIMIRAOS, DAN FITZPATRICK And RUTH SIMON The Obama administration is trying to push through a settlement over mortgage-servicing breakdowns that could force America’s largest banks to pay for reductions in loan principal worth billions of dollars. Terms of the administration’s proposal include a commitment from …
S&P Case-Shiller Index Posts Another Drop as Home Prices Near Trough
Data through December 2010, released this morning by Standard & Poor’s show that the S&P/Case-Shiller national home price index declined by 3.9 percent quarter-over-quarter during the last three months of 2010. The closely watched gauge is down 4.1 percent versus the fourth quarter of 2009, which is the lowest annual growth rate since prices plummeted …
Chilali Auction Update – Ketchum Idaho
The widely-advertised Chilali Lodge auction this past weekend was a total success with all 11 units being sold. While I was told that the winning bids ranged from 30 to 70% above the minimum asking prices, I have now confirmed what really happened. There were 35 serious bidders registered all with proof of funds. Winning …
Longer foreclosure process now takes an average 17 months
The average U.S. borrower in the throes of foreclosure hasn’t made a mortgage payment in 17 months, up from nearly 11 months two years ago — and the time frame may get even longer. Banks and mortgage servicers, who collect payments for lenders, are taking more time to complete foreclosures because of huge volumes of …
Looking for that perfect investment? Look no more! $139,000
Coming on the market and sure to sell within days. Remodeled in 2000 with many designer touches, this single family home in a great Hailey neighborhood (this isn’t a Woodside resale) is situated on a spacious corner lot, backs to a large city park and is surrounded by more substantial homes. pgrades include extensive hardwood …
Attention Sellers: The Home Search Process 2010
According to the most recent 2010 Profile of Home Buyers and Sellers, real estate agents and the Internet continue to be the most important resources in the home search process. While the usage of the Internet has increased in the search process, it does not diminish the use of the agent, but rather provides a …
His Real Estate Agent? Craigslist
I share this article as I know real estate advertising on Craigslist works when done right. Craigslist is just one of many online sites I use as part of my creative marketing systems to promote properties we represent. The main function is to drive traffic back to my site were buyers can see more detailed …
New data by CoreLogic – Home sales fell 12% in 2010
U.S. home sales totaled 3.6 million in 2010, a 12% drop from the year before that pulled prices down with it, according to data provider CoreLogic (CLGX: 20.60 -0.15%). In November, the latest month of data available from CoreLogic, home prices dropped 5.1% for the fourth straight month of decline. Decreases in home prices have …
FSBOs Vanish, Sellers Turn to Real Estate Pros
FSBOs Vanish, Sellers Turn to Real Estate Pros For Results For-sale-by-owners are rare nowadays. In fact, the number of FSBOs dropped to record lows over the past year. Unrepresented sellers make up just 11 percent of the market, down from 13 percent in 2009, according to the 2010 National Association of REALTORS® Profile of Home …
FHA to increase mortgage insurance premiums a quarter of a point in 60 days
The Federal Housing Administration is increasing its annual mortgage insurance premium one quarter of one point on all 15-year and 30-year mortgages backed by the agency. The hike is in response to a congressional mandate that gave the FHA permission to increase premiums and keep its insurance fund liquid. The higher premiums also were outlined …
Court rules mortgage registrar cannot transfer mortgages
REUTERS: Mon Feb 14, 2011 7:11pm EST * MERS not agent of banks in foreclosures, court rules * Rulings against MERS could add to foreclosures * MERS says ruling misinterpreted law NEW YORK, Feb 14 (Reuters) – A company that tracks roughly half of all U.S. home loans has no right to transfer mortgages, a …
