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April 2012 - Posts

Friday, April 27, 2012 7:41 PM

About Open Houses....

Talking Points Once a primary tool for real estate agents looking to sell a home, experts say the traditional open house has lost its influence in the Internet age. Most buyers today conduct their preliminary research at home – reviewing online
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Friday, April 27, 2012 7:40 PM

Home prices lowest since 2002

CNNMoney The S&P/Case-Shiller home price index of 20 cities recorded a decline of 3.5 percent in February compared with the year before. Read the full story
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Friday, April 27, 2012 7:39 PM

Housing downturn spurs a boom in foreclosure-to-rental conversions

The Washington Post With home prices at historic lows and rental rates on the rise, a growing number of investors with cash to spare are seeking lucrative returns by gobbling up foreclosures in distressed markets across the country and turning them into
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Friday, April 27, 2012 7:38 PM

Aid for troubled mortgages has been revamped

The Sacramento Bee Nearly five years after the housing bust began, government programs to help those who are underwater on their mortgages, unemployed, or unable to make their payments are kicking into gear. Read the full story
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Friday, April 27, 2012 7:37 PM

New rules will speed up short sales

CNNMoney The Federal Housing Finance Agency laid out new rules aimed at speeding up the short sale process, a move that could keep many homes from falling into foreclosure. Read the full story
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Friday, April 27, 2012 7:35 PM

Don’t blame homeowners, government for housing bust

The Wall Street Journal Former Fannie Mae CEO, speaking on a panel at a conference, says that an influx of investors into the housing market – rather than government policy – was the main cause of the housing market’s collapse. Read
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Friday, April 27, 2012 7:34 PM

It’s safe to sell your home again

CNN Money While analysts debate when the housing market will hit bottom, for a surprising number of cities the turnaround has already begun. In December, prices rose in 109 of the 384 metro areas tracked by data firm CoreLogic. Making sense of the story
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Friday, April 27, 2012 7:30 PM

Calif Home Sale Stats for March

Calif. median home price : March 2012: $291,080 (Source: C.A.R.) Calif. highest median home price by region/county March 2012: San Mateo, $677,900 (Source: C.A.R.) Calif. lowest median home price by region/county March 2012: Tehama, $108,000 (Source:
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Friday, April 27, 2012 7:29 PM

Mortgage fraud SARs increased in 2011

The Financial Crimes Enforcement Network has released its full year 2011 update of mortgage loan fraud reported suspicious activity reports (MLF SARs), which shows financial institutions submitted 92,028 MLF SARs last year, a 31 percent increase compared
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Friday, April 27, 2012 7:28 PM

FHFA House Price Index rises in February

U.S. house prices rose 0.3 percent on a seasonally adjusted basis from January to February, according to the Federal Housing Finance Agency’s monthly House Price Index. While prices in January were unchanged according to initial estimates reported
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Friday, April 27, 2012 7:26 PM

California pending home sales highest level in nearly three years

California pending home sales posted higher for the third consecutive month in March, rising from both the previous month and year, C.A.R. reported Tuesday. Additionally, the share of distressed sales dropped for the second consecutive month, as equity
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Friday, April 20, 2012 6:28 AM

California's Current Housing Market Statistics

Talking Points California’s housing inventory declined in March, with the Unsold Inventory Index for existing, single-family detached homes decreasing to 4.1 months in March, down from a revised 5.4 months in February and down from the 5.4-month
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Friday, April 20, 2012 6:26 AM

Flood of foreclosures to hit hit the housing market

CNNMoney The golden age for foreclosure squatters may soon be coming to an end now that the $26 billion mortgage settlement has been approved. Read the full story
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Friday, April 20, 2012 6:24 AM

Reverse loans, pre-retirement

New York Times Reverse mortgages, once associated mainly with homeowners in their 70s and beyond, are now being taken out by people nearing retirement to help pay off debts and remain financially solvent, according to a report released last month by MetLife
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Friday, April 20, 2012 6:23 AM

Qualifying for a mortgage has gotten much tougher

Los Angeles Times A new statistical analysis, based on a large sample of all mortgage applications approved and denied in recent months, offers valuable benchmakers for anyone thinking about refinancing a home purchase or refinancing an existing loan.
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Friday, April 20, 2012 6:22 AM

Why people walk away from home loans

San Diego Union Tribune An estimated 35 percent of the U.S. home-loan defaults in late 2010 were considered strategic, increasing from 26 percent in March 2009, based on figures from the University of Chicago’s business school. Read the full stor
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Friday, April 20, 2012 6:21 AM

Short sales surpass foreclosures as banks agree to deals

Bloomberg Short sales accounted for 23.9 percent of home purchases in January, the most recent month available, compared with 19.7 percent for sales of foreclosed homes, according to Lender Processing Services Inc. Read the full story
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Friday, April 20, 2012 6:17 AM

First gain for Calif. prices in 16 months

Orange County Register The median price for an existing, single-family home in California rose 1.6 percent in March compared with the year before, marking the first year-over-year increase in 16 months, the CALIFORNIA ASSOCIATION OF REALTORS® reported
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Monday, April 16, 2012 3:36 PM

Seller Tips

Talking Points Sellers who have followed the usual advice about boosting curb appeal and staging the house properly but still aren’t getting any bites, may want to look at other ways to catch a buyer’s eye. Getting a home appraisal can help
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Monday, April 16, 2012 3:35 PM

U.S. may require banks to provide more information on mortgages

The Los Angeles Times The Consumer Financial Protection Bureau is considering tough rules for home loan servicers, including more easily understood statements and warnings before interest rate changes. Read the full story
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Monday, April 16, 2012 3:33 PM

Myths about HUD-approved counseling busted

San Diego Union-Tribune There are many myths associated with HUD-approved counselors. Here are some common ones busted to give homeowners an idea of the benefits and limits of their services. Read the full story
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Monday, April 16, 2012 3:32 PM

Does mortgage principal reduction work?

CNNMoney The Federal Housing Finance Agency will decide this month whether Fannie Mae and Freddie Mac should allow write downs on the balances of borrowers who owe more than their homes are worth. Read the full story
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Monday, April 16, 2012 3:30 PM

Locking in peace of mind

The New York Times Mortgage rates are near historic lows, but they are rising, leading some borrowers to consider locking in their rate. When borrowers lock in their interest rate, it freezes the terms of the loan while it is being processed, potentially
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Friday, April 06, 2012 7:17 AM

As home rents head higher, owning regains its appeal

Wall Street Journal Rising rents, coupled with slumping home prices and interest rates near record-lows, are boosting demand for homes at entry-level prices. Making sense of the story Increased buying activity from investors and second-home purchases
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Friday, April 06, 2012 7:15 AM

Seller Financing

Talking Points Contracts for deeds, also known as land contracts and installment sale agreements, are arrangements where a home seller provides the financing for a buyer. Over the last few years, this unconventional type of financing has gained popularity.
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Friday, April 06, 2012 7:14 AM

Are mortgage credit standards loosening? (Hint: No)

The Wall Street Journal Loans closed by banks and mortgage lenders in February had borrowers with a credit score of 750, up from 740 six months earlier, and an average loan-to-value ratio of 76 percent. The average denied loan had a credit score of 699
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Friday, April 06, 2012 7:13 AM

Rents keep rising as home prices stagnate

CNNMoney Renting used to be cheaper than buying, but in many U.S. cities that’s no longer the case as rent continue to climb and home prices stagnate. Read the full story
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Friday, April 06, 2012 7:12 AM

Is mortgage-debt forgiveness worth the “moral hazard?”

The Wall Street Journal It’s been one of the most vexing problems of the mortgage crisis: Do policies that restructure loans for underwater borrowers encourage homeowners who don’t need help to default? The federal regulator for Fannie Mae
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Friday, April 06, 2012 7:11 AM

Investors are looking to buy homes by the thousands

The New York Times With home prices down more than a third from their peak and the market swamped with foreclosures, large investors are salivating at the opportunity to buy perhaps thousands of homes at deep discounts and fill them with tenants. Read
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Friday, April 06, 2012 7:09 AM

Low-ball appraisal: Mortgage denied

CNNMoney Even as some mortgage standards have eased, hitting a needed appraisal value is proving a frustrating blocker for buyers and sellers and those looking to refinance. Read the full story
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Tuesday, April 03, 2012 8:29 PM

FHA Fees Rise and Fall

Talking Points Fees for refinancing into a Federal Housing Administration (FHA) loan are set to fall, as the upfront mortgage insurance decreases to 0.01 percent of the base loan amount, from 1 percent, beginning June 11. For buyers, the upfront mortgage
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Tuesday, April 03, 2012 8:28 PM

Bank of America faces hurdles in rentals

CNNMoney To help struggling homeowners, Bank of America recently launched a test initiative that will give some a chance to rent the very homes they risk losing. Read the full story
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Tuesday, April 03, 2012 8:27 PM

Foreclosure deal credits banks for routine efforts

New York Times Banks often approve real estate transactions that do nothing to prevent foreclosure. But beginning this month, they can count such activities as part of their new commitment to help people stay in their homes. Read the full story
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Tuesday, April 03, 2012 8:26 PM

Home prices fall to 2002 levels

CNNMoney The average home sold in January lost 0.8 percent of its value, compared with a month earlier, and prices were down 3.8 percent from 12 months earlier, according to the S&P/Case-Shilller home price index of 20 major markets. Read the full
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Tuesday, April 03, 2012 8:24 PM

It’s a good time to refinance

Wall Street Journal For homeowners who have been waiting for interest rates to fall even further before refinancing, it might be time to pull the trigger on a deal. Rates are moving up – and could stay higher for a while, experts say. Read the full
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Tuesday, April 03, 2012 8:22 PM

Past foreclosure means waiting years for new loan

Mercury News Next to filing for bankruptcy protection, nothing wrecks a borrower’s chances of qualifying for a home loan like a foreclosure. And, some lenders may not look favorably upon borrowers who were able to successfully complete a short sale
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