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From the monthly archives:

January 2010

Walkability Boosts Value Post-Recession

by John TayebJanuary 14, 2010 general

The proximity to a city center combined with the walkability of its neighborhood increases the value of a home. A study published last summer by C.E.O.’s for Cities examined sales of 90,000 properties in 15 markets and concluded that homes in neighborhoods with above-average walkability in cities like Charlotte, N.C., Sacramento, and San Francisco commanded [...]

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Mortgage Applications Up After New Year’s Day

by Tayeb Realty GroupJanuary 14, 2010 general

Mortgage application volume increased 14.3 percent last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association. On an unadjusted basis applications rose 66 percent. The increase reflects a shortened week due to the New Year’s holiday. Most of the increase was in refinances, which rose 73.9 percent [...]

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Trends in Green Building and Living

by John TayebJanuary 13, 2010 commercial real estate

The Earth Advantage Institute, a non-profit that certifies sustainable homes, identified these green-building trends, based on its relationships with builders, architects, real estate practitioners, and lenders. Read the whole list here. Smart grid and connected homes.  The development of custom and Web-based display panels that show real-time home energy use, broken out by individual appliance [...]

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Industry Faults New Home Appraisal Regulations

by John TayebJanuary 13, 2010 general

Are home appraisal regulations that took affect last year just making things worse? The Appraisal Institute and the National Association of REALTORS® say these changes aren’t good for either consumers or appraisers because they result in appraisers being assigned to unfamiliar areas and uninformed, low-ball appraisals. The Title/Appraisal Vendor Management Association, the trade association of [...]

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Fewer Sellers Cut Home Prices, for Now

by Tayeb Realty GroupJanuary 13, 2010 Foreclosures

Trulia reports a decline in the number of home sellers lowering their asking prices at least once to 21 percent as of Jan. 1 from 22 percent in December and 25.6 percent in November, marking the lowest level since April. The average discount held steady at 11 percent. Trulia reports a 50 percent drop in [...]

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Record Year for Mortgage Company Failures

by John TayebJanuary 11, 2010 Foreclosures

More than 225 mortgage-related companies ended their operations or failed in 2009, more than any year since MortgageDaily.com began tracking data in 1998. Bank failures lead the decline with 140 suspended and forced into bankruptcy. There were 66 non-bank closures and 19 credit union failures. The most notable 2009 failures included Ocala, Fla.-based Taylor Bean [...]

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Cutting Mortgage Principal Decreases Defaults

by Tayeb Realty GroupJanuary 11, 2010 general

Borrowers whose loan modifications reduced their loan balances – not just their interest rates – are most likely to avoid re-defaulting on their mortgages, according to a new study by the Federal Reserve Bank of New York. These findings contradict the government’s recommendation, which focuses on reducing monthly payments by lowering interest rates and extending [...]

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Will Home Prices Go Down in 2010?

by John TayebJanuary 11, 2010 Foreclosures

Some real estate researchers are forecasting that home prices will fall again in 2010. · Fiserv Lending Solutions, a financial analytics firm, predicts that prices will decline an average of 11.3 percent in 342 of the 381 markets it covers. · Moody’s Economy.com foresees another 8 percent drop, with Arizona, California, Florida, and Nevada feeling [...]

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Tax Liens May Do More Harm Than Good

by John TayebJanuary 10, 2010 general

The U.S. Taxpayer Advocate complained to Congress on Wednesday that the IRS is harming taxpayers when it imposes tax liens on homes. National Taxpayer Advocate Nina Olson reported that IRS agents only consider income and expenses—not other debts—when sizing up a delinquent taxpayer’s ability to pay. Research from Olson’s office also shows that tax liens [...]

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Mortgage Rates Fall This Week

by Tayeb Realty GroupJanuary 10, 2010 Foreclosures

Average interest on long-term mortgages went down slightly this week, after rising in the four previous weeks. Freddie Mac reports that 30-year fixed mortgage rates averaged 5.09 percent, down from 5.14 percent a week ago, but higher than the 5.01 percent it reached this time last year. Other mortgage rates performed as follows: 15-year, fixed [...]

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