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From the monthly archives:

March 2010

Midsize Cities Draw Immigrants

by John TayebMarch 18, 2010 Housing Market News Update

A new study by the USC Lusk Center for Real Estate analyzed Census data and determined that newly arrived immigrants tended to settle in small and medium metro areas between 2000 and 2005. Nashville, Tenn., El Paso, Tex., Bakersfield, Calif., and Stockton, Calif., are among the cities that saw a 27 percent increase in the [...]

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Tips for Boomers: Benefits of Downsizing

by Tayeb Realty GroupMarch 18, 2010 Housing Market News Update

For anyone approaching retirement, now could be a great time to move. Here are some tips for Boomers considering downsizing: Don’t miss out on the $6,500 move-up tax credit. Consider a short-distance move if it provides savings and convenience. Anyone moving out of state should figure the tax consequences in their new location. Consider a [...]

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Mortgage Volume Falls Despite Favorable Rates

by John TayebMarch 17, 2010 commercial real estate

Mortgage applications declined last week, despite the lowest interest rates in three months, the Mortgage Bankers Association reported. Mortgage loan volume slipped 1.9 percent on a seasonally adjusted basis compared to the previous week. On an unadjusted basis, the index decreased 1.7 percent. The seasonally adjusted purchase index decreased 2.3 percent compared to the previous [...]

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Fed To Stop Buying MBS

by Tayeb Realty GroupMarch 17, 2010 Housing Market News Update

The Federal Reserve renewed its commitment to keep key interest rates near zero for an “extended period,” but also confirmed that it will stop buying mortgage-backed securities at the end of March. The Fed, whose regular meeting began Tuesday, said that “housing starts have been flat at depressed levels” and “employers remain reluctant to add [...]

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How Will States Reduce the Foreclosure Impact?

by John TayebMarch 16, 2010 Foreclosures

Five states hardest hit by foreclosures have six weeks to decide how to spend millions in federal money to reduce the impact of the housing crisis. The states that will receive money (and the amount they will get) under the Treasury Department’s Fund for Hardest Hit Housing Markets are California ($700 million), Arizona ($125 million), [...]

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When Will the Fed Raise Interest Rates?

by Tayeb Realty GroupMarch 16, 2010 commercial real estate

The Federal Reserve is expected to offer clues at its meeting this week that will signal to investors and others how long the Fed will keep interest rates at record lows. Some members of the Fed like Kansas City President Thomas Hoenig have been lobbying for an increase for several months, but Fed Chair Ben [...]

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Is Now a Good Time to Buy?

by John TayebMarch 15, 2010 Real Estate in New York

In many places, real estate is still not a good investment, says Barry Ritholtz, CEO and director of equity research at FusionIQ, which ranks the profitability of investments. Home prices in the nation’s 20 largest cities need to drop another 15 percent to return to historic norms, he says, or alternatively, prices have to stay [...]

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Housing Experts Say Real Estate is Recovering

by Tayeb Realty GroupMarch 15, 2010 Housing Market News Update

Some of the nation’s top economists believe the housing market has turned and better days are on the way for the housing industry. Increases in jobs, credit, and affordable homes will overcome impediments such as rising interest rates, and the expiration of the Federal stimulus program to push the housing market toward recovery, says Dean [...]

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Home Equity Loans Available Again

by John TayebMarch 14, 2010 Home Renovations

Banks are again offering home equity loans. Lenders are expected to make about $36 billion in new home equity loans over the next year, according to Moody’s Economy.com. That’s actually more than the $34 billion in home equity loans made in 2008. The difference will be the way the money is spent, says Frank Nothaft, [...]

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Funding for Low-Income Housing Pays Off

by Tayeb Realty GroupMarch 13, 2010 Housing Market News Update

Low-income housing programs managed by the Federal Home Loan Bank of Atlanta have had a positive impact on the area’s low- and moderate-income residents by creating more jobs and jump-starting the retail economy, according to a study released Thursday. Research from The Shimberg Center for Housing Studies at the University of Florida tried to quantify [...]

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