Real Estate Reads – 9/16/13

Some news regarding the world of real estate:

• Detroit area see rise in prices, but sales stale
Real estate prices continue their dramatic increase in August
• Tips on choosing the right agent
Advice: Find someone local
• Vegas housing starts dip along with construction jobs
Although prices are up and surging
• Want to create a startup? Act like a Realtor
Creating a business deals with location, location, location
• Despite keeping up with payments, California home sold in foreclosure
Residents keep house after major errors exposed

Real Estate Reads – 9/13/13

HAPPY FRIDAY THE 13TH: Don’t stay too late in the woods…

Some news concerning the world of real estate:

• Twin Cities area sees housing growth 
Despite rising mortgage rates
• Bay Area sees housing slowdown
Down almost eight percent from July
• 30-year mortgage rates remain steady
Just below two-year high
• England first-time home buyers seeking longer mortgages
In wake of new bubble forming
• Chicago-area family given mortgage-free home
Former NASCAR driver Richard Petty surprised U.S. Marine and family
• Housing market conditions leading toward more foreclosures
End not in sight yet
• A look into factors stalling the housing market
Trulia’s Kolko: There’s no magic formula

• Howard Stern’s right-hand woman lists New York City condo
Robin Quivers also purchasing home in New Jersey
• White House: Housing market not out of the woods yet
Services still require ‘moderate improvement’

Real Estate Reads – 9/11/13

Some news concerning the world of real estate:

Kolko

• Kolko: When will rising mortgage rates hurt the housing market?
For a would-be buyer calculating the mortgage payment on their dream home, the effects are obvious.
• Here’s one reason why reverse-mortgages are so worrisome
Texas senior home is threatened by taking loan
• Mississippi: 18.3 percent of homes underwater
Another six percent at risk of falling
• St. Louis: Fewer mortgages underwater
Down from 16 percent a year earlier.
• Northern Virginia show uptick in sales, prices 
The total sales volume of $1.09 billion last month represented an increase of 14.6 percent from the $955 million recorded a year prior, making it a good month from the perspective of the real estate community.
• Where’s the fastest-growing real estate market?
Dubai on top of the list.
• Citi to lay off thousands in its mortgage unit
The layoffs could come at mortgage units across the country, Citi sources said, adding the bank is closing in on deciding on a final number.

Real Estate Reads – 9/9/13

Some news concerning the world of real estate:

• Wells Fargo: If demand weakens, layoffs may happen
Mortgage originations have slowed considerably since May, citing the spike in interest rates over the summer.
• Realtors finding many ways to survive
It takes skill, hustle and a willingness to adapt to a changing, volatile industry to make it as a real estate agent.
• Survey: We like the walk/bike commute
The era of developers of office buildings and shopping centers haggling to get as many parking spaces as possible included in their properties may be waning.
• The trend of more inventory and higher prices
With more houses on the market, sellers shouldn’t have a harder time getting their homes under contract, says Realtor

Real Estate Reads – 9/6/13

Some news concerning the world of real estate:

• Strange times for the mortgage industry
Recently, interest rates on mortgages for expensive homes have fallen below those for smaller mortgages that the government promises to repay if the borrower defaults.
• Hacker causes problems for web firm and real estate orgs
Cincinnati startup in legal battle with two regional MLS groups.
• 43 percent of Tampa mortgages ‘seriously underwater‘
Ranks third nationally.
• MBA: Jumbo loans even cheaper than smaller loans
With mortgage rates rising to levels not seen for two years, it’s hard work finding a great deal on a home loan — unless you’re rich enough to need a jumbo mortgage.
• Vet awarded mortgage-free home
Army specialist who served in Iraq war given property in Kansas City.
• Buyers spooked by rising rates
Redfin: 63 percent of prospective buyers surveyed contend rising rates will make it harder for them to find a house they can afford.

Real Estate Reads – 9/4/13

Some news concerning the world of real estate:

• Mortgage applications rise as rate drop
A dip in mortgage rates gave Americans a good reason to take out home-related loans last week, as applications for mortgages jumped 1.3%, according to the Mortgage Bankers Association.
• A lesson in loving the home mortgage deduction
If the vast majority of the people feel that owning a home is part of the good life, what’s wrong with deciding that we’re going to subsidize that part of the American Dream to make it somewhat easier for people to reach?
• HUD tightens reverse mortgage rules to help seniors
Major changes are coming to the Department of Housing and Urban Development’s reverse mortgage loan program as the agency seeks to shore up its finances and better protect seniors.
• Sumer rentals lure in vacationers
As summer ends, the owners of summer rentals are cashing in on what has been one of the strongest reasons for vacation rental properties, according to online vacation marketplace HomeAway.

Real Estate Reads – 9/3/13

Some news concerning the world of real estate:

• Rising flood insurance rates could hurt real estate market
The changes to the flood insurance program will phase out so-called subsidies that have kept rates low for insurance on older homes built before flood maps were redrawn to make them accurately reflect financial risk.
• Is buying a home a smart idea?
If you’re justifying the purchase with the well-worn: “I just want to stop throwing away rent money,” you are about to engage in a dumb money move that only sounds smart because no one has worked out the math.
• Higher mortgage rates could revitalize smaller home sales
Following a 30-year bull run in bonds and falling interest rates, can the housing market survive a rising-rate environment?
• Sacramento market is looking stable
After hyperventilating for months, Sacramento’s housing market is starting to catch its breath.
• Four key questions on housing finance reform
As Congress returns from its August recess and prepares to take up the issue of housing finance reform, the history of special-interest pleading and taxpayer bailouts will loom large.

Real Estate Reads – 8/30/13

Some news concerning the world of real estate:

• Houston Realtor finds success through his people skills
Richard Ray one of John Daugherty, Realtors top producer

• Expert: Texas “on fire,” rest of the nation, not so much
“Housing is not keeping up with demand,” executive said
• What the IRS’ recognition of gay marriage means for real estate
Couples will be treated as married for all federal tax purposes
• Boston suburb experiencing housing climb
52 single-family homes were sold in July compared to 27 in July 2012
• Bay Area leads in underwater mortgage rebounds
150,000 underwater Bay Area homeowners regain equity

Real Estate Reads – 8/29/13

Some news concerning the world of real estate:

• Average 30-year mortgage dips to 4.51 percent
Still close to two-year high
• D.C. area on the rebound
Housing market: 60 percent recovered
• Victim of Texas plant explosion gets mortgage-free home
Home was destroyed in factory accident
• Cash buyers major players in housing
In the wake of rising interest rates, cash buyers are taking a bigger share of the home real estate market
• Listings going Hollywood!
In order to help sell homes, real estate agents and developers are commissioning mini-movies, replete with actors, scripts and musical scores
• Real estate websites become target for scams
Fake identies posing as rental managers

Real Estate Reads – 8/28/13

Some news concerning the world of real estate:

• U.S. rolls out ‘skin in the game’ mortgage rules
Six U.S. regulatory agencies released a reworked proposal on Wednesday that requires lenders maintain a stake in the loans they bundle and sell as securities, part of efforts to limit the type of underwriting practices which fueled the housing bubble.
• July pending homes sales fall 1.3 percent
Home buyers facing higher interest rates and prices.
• MBA: Mortgage apps drop
Fell for a third straight week as average mortgage rates hit their highest level this year.
• S&P/Case-Shiller: Home price growth slowing down
Buyers discouraged by high rates
• What to make of all the rising rates and state of the housing market
Reasons for the volatile movement in the industry
• Kinks in flood insurance causing problems for St. Pete Beach (Tampa) market
Fears of rising federal flood insurance costs for home and business owners could affect real estate and property taxes
• Group, including real estate agent, accused of seven-figure fraud
Charged with scamming home buyers and banks in Central New York for nine years through falsified loan applications, fake credit reports and inflated home appraisals.
• Former real estate agent pleads to selling stole appliances
Ex-Realtor stole from vacant homes owned by the U.S. Department of Housing and Urban Development.