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Foreclosure Sales Drop, But Inventories Swell

by John TayebJuly 6, 2011 Foreclosures

Foreclosure sales continue to drop, but foreclosure inventories remain high in many markets across the country. By the end of May, the number of mortgages that were 90 or more days delinquent, combined with the foreclosure inventory, outpaced foreclosure sales by 50:1, Lender Processing Services Inc. reports. The biggest drop in foreclosure sales occurred in [...]

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Down Payment Plan May Price Buyers Out of Market

by Tayeb Realty GroupJuly 5, 2011 Housing Market News Update

How much a home buyer should have a for a down payment on a home has been up for dispute among policymakers. Some recent federal regulators and lawmakers calling for a 20 percent or 10 percent down payment in order for mortgages to be considered a “qualified residential mortgage” and not subjected to extra fees. [...]

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Disasters Spike Increase in Home Sales

by John TayebJune 14, 2011 Housing Market News Update

Cities that have been torn apart by recent tornadoes and floods are now seeing a big increase in home sales. Real estate agent Barb Maxon with Century 21 ProLink in Sioux City, Iowa, told the Des Moines Register that she’s made six sales in one week alone to Iowa families who have been displaced by [...]

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7 Highest-Performing Major Housing Markets

by Tayeb Realty GroupJune 14, 2011 commercial real estate

Several real estate markets are starting to show signs of improvement with home prices in the last quarter as the industry demonstrates more signs of stabilizing, according to Clear Capital’s latest monthly Home Data Index Market Report. REO saturation rates have improved in the majority of the country’s largest markets. However, many areas are still [...]

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Mortgage Rates Reach Another Low for 2011

by John TayebJune 6, 2011 Foreclosures

For nearly two months, mortgage rates have been steadily dropping, and this week rates reached another low for the year, Freddie Mac reports in its weekly mortgage market survey. Here’s a closer look at average mortgage rates for the week: 30-year fixed-rate mortgage: The most popular financing choice among buyers, the 30-year fixed-rate mortgage continued [...]

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Real Estate’s ‘Clearance Sale’?

by Tayeb Realty GroupJune 6, 2011 Foreclosures

For those who love a deal, now is the time to buy a home, experts say. Pete Flint, CEO of Trulia, predict a “clearance sale” in real estate. “We don’t imagine a stampede of buyers, like outside of Macy’s on Black Friday,” he told CNN. “We see this more akin to January sales where retailers [...]

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Americans: Home Ownership Still a Great Investment

by Tayeb Realty GroupJune 6, 2011 Housing Market News Update

Seventy-five percent of Americans say that “owning a home is the best long-term investment they can make and is worth the risk of ups and downs in the housing market,” according to a new survey of 2,000 bipartisan voters by the National Association of Home Builders. Despite their situation — whether underwater on their home [...]

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Builders Rethink Housing Designs

by Tayeb Realty GroupMay 10, 2011 Architecture

With new-home sales down drastically the last few years, builders are scrambling to re-evaluate what buyers today want in new homes. Changing demographics and tighter lending standards are influencing buyers’ purchasing decisions when home-shopping and changing their priorities, industry experts say. “There is a lot of pressure today to retool,” says Steve Brooks, CEO of [...]

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6 Reasons to Reduce a Home’s Price

by John TayebApril 28, 2011 general

The longer an overpriced home sits on the market, the more likely buyers will begin thinking something’s wrong with it. While you’d like to get the best price for your home, consider our six reasons to reduce your home price. These six signs may be telling you it’s time to lower your price. 1. You’re drawing [...]

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Rentals Get Pricey and Scarce, Study Finds

by Tayeb Realty GroupApril 28, 2011 Housing Market News Update

The number of renters who spend more than half their income on housing is at its highest level in half a century, according to a Harvard University study released Tuesday. About 26 percent of renters — or 10.1 million people — spent more than half their pre-tax household income on rent and utilities in 2009, [...]

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