Pending home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year, according to the National Association of REALTORS®. The Pending Home Sales Index rose 8.2 percent to 88.8 in May from an upwardly revised 82.1 in April and …
Monthly Archive
for: ‘June, 2011’
Look Who’s Searching For Sun Valley Real Estate
According to the 2010 Profile of Home Buyers and Sellers released by the Association of Realtors, Eighty-nine to Ninety percent of home buyers used the Internet as one of the main sources of information used in their home search process. This is one of the main reasons that before listing your property for sale with …
Top rental markets about to “explode”
Numerous recent reports claim renting is on the rise, but John Burns Real Estate Consulting believes demand is top markets is about to “explode,” with some cities seeing a 25% growth over the next three years. According to John Burns, there are about 3.4 million units of pent up demand for rental housing bolstered by …
Fannie Mae Issues New Servicing Standards for Delinquent Mortgages
Fannie Mae laid out new standards for mortgage servicers Monday related to the management of delinquent loans, default prevention, and foreclosure timeframes. The move is part of the Servicing Alignment Initiative announced by the company’s regulator, the Federal Housing Finance Agency (FHFA), in late April to bring both Fannie Mae’s and Freddie Mac’s procedures for …
Housing short sales may be targeted for fraud
Short sales may be targeted for fraud A study estimates that banks and distressed home sellers will lose more than $375 million this year when they sell undervalued houses to tag teams consisting of realty agents and investors. Are banks and distressed home sellers getting rooked on a massive scale in the booming short-sale arena …
Nation’s Unemployment Rate Rises to 9.1%
The national unemployment rate edged up to 9.1 percent in May from 9.0 percent in April, according to figures released Friday morning by the U.S. Department of Labor. The economy added just 54,000 jobs last month, the worst showing in eight months. Employment increases averaged 220,000 over the prior three months. Freddie Mac’s chief economist …
