Stagnant Real Estate Industry Starting to Flow

November 18, 2011 / Russell Legato, Residential Property Analyst
Stagnant Real Estate Industry Starting to Flow Current real estate trends show people from the East and Midwest are looking at property in Florida. Retirees are moving to areas where they can buy more house for less money. This causes strong demand in areas with the most foreclosures and low asking prices. Nothing attracts buyers more and they will look to the depressed areas. Demand will grow and the market will stabilize as a result. The question is, how soon? Some cities... »

Mortgage Rate Fall of 4% Gives Mixed Signals

November 15, 2011 / Russell Legato, Residential Property Analyst
Mortgage Rate Fall of 4% Gives Mixed Signals Second in History and Second This Year Survey reports indicate that for only the second time in history and the second time this year, mortgage rates have fallen from an even 4%, to 3.99%. This was offered by lenders countrywide on a 30 year loan, as at last Thursday. Although today’s reduced mortgage rates benefit home buyers and refinancers, it is dependent on them having substantial credit and income. This will involve a 20% down... »

HAMP, HAFA Help People Take Advantage of the Low Mortgage Rates

September 21, 2011 / Russell Legato, Residential Property Analyst
HAMP, HAFA Help People Take Advantage of the Low Mortgage Rates Mortgage rates have been holding steady lately.  Many ordinary people polled expect that to remain unchanged.  August New Home Starts were down more than expected.  This news probably won’t have much impact on the mortgage rates but today’s expected announcement about August existing home numbers may have an impact. According to realtor.com statistics the inventory level has seen a 19% decrease in the number of homes listed for sale compared to August 2010.  This is... »

Mortgage Rates at Bank of America Today

September 20, 2011 / Elizabeth Buckley, Commercial Property Analyst
Mortgage Rates at Bank of America Today Global economic forces continue to bear on mortgage interest rates, holding them at very enticing levels. This is true across the board, at the largest lenders like Bank of America (NYSE:BAC) to the smallest broker. Today benchmark 30 year fixed loans at BoA have a best quote of 4.25% with an APR not much higher at 4.415%. This rate is relatively representative of today’s quotes as Wells Fargo (NYSE:WFC) and CitiMortgage (NYSE:C) are the same... »

Wells Fargo Refinance Mortgage Interest Rates Today

September 20, 2011 / Elizabeth Buckley, Commercial Property Analyst
Wells Fargo Refinance Mortgage Interest Rates Today Wells Fargo (NYSE:WFC) the largest and most respected mortgage lender is providing assistance to homeowners struggling to make payments and at the same time continuing to write thousands of mortgage contracts every week. Low mortgage rates have resulted in a swell of refinance mortgage applications. Wells Fargo is offering 30 year fixed rate mortgages for refinance at 4.25% with a 4.639% APR. Competitors Bank of America (NYSE:BAC) and Chase Bank (NYSE:JPM) are quoting 4.375% for... »

With Mortgage Rates So Low, Now Is the Time to Refinance

September 19, 2011 / Russell Legato, Residential Property Analyst
With Mortgage Rates So Low, Now Is the Time to Refinance The past month has seen several record lows for mortgage rates.  The rates today are still very low at an average of 4.23% for a 30 year loan and 3.38% for a 15 year loan.  Many people who are refinancing are choosing the  15 year term.  With such low rates it makes sense to choose the shorter term and pay the loan off in half the time saving a lot in interest.  The monthly payment... »

‘Dreary Picture’ From Home Sales Data in Three Years

September 15, 2011 / Russell Legato, Residential Property Analyst
‘Dreary Picture’ From Home Sales Data in Three Years Data from existing home sales slated for release on September 21 have painted a “dreary picture” for the US housing market over the past three years, along with the S&P/Case-Shiller Home Prices Indices, according to a Standard & Poor’s expert. Citing a chart of existing home sales and months’ supply prepared by the National Association of Realtors, Maureen Maitland, Vice President S&P Indices, said the data shows the story from the existing homes sales perspective.... »

US Foreclosure Filings Up 7pc on Constitution Day

September 15, 2011 / Russell Legato, Residential Property Analyst
US Foreclosure Filings Up 7pc on Constitution Day A total of 228,098 U.S. properties have reported a surge in foreclosure filings as of August, indicating that “lenders are starting to push through some of the foreclosures delayed by robo-signing and other documentation problems” according to an expert. RealtyTrac’s U.S. Foreclosure Market Report for August 2011, released amid Constitution Day observance, shows a 7 percent rise month-over-month in foreclosure filings — default notices, scheduled auctions and bank repossessions — among 228,098 U.S. properties, though... »

Death Toll in Kenya Explosion, Fire Remain Unclear

September 12, 2011 / Russell Legato, Residential Property Analyst
Death Toll in Kenya Explosion, Fire Remain Unclear Nairobi police said on Monday that at least 61 bodies have been recovered after petrol that had spilled into an open sewer caught fire and sent a wave of flame through a densely populated slum in the capital of Kenya, Reuters reported as quoted by other media outlets. However, BBC News puts the number a bit higher, saying at least 75 people have died according to authorities. Still, the ABC News reported more than 100... »

A Decade After September 11, Inflation Sends Home Prices Soaring

September 10, 2011 / Russell Legato, Residential Property Analyst
A Decade After September 11, Inflation Sends Home Prices Soaring More than ten years after the historic September 11 terrorist attack on Twin Towers in New York, home prices have risen less and has fallen more in “real terms.” This was the findings of S&P/Case-Shiller 10 City index in response to public request to publish an inflation adjusted version of home prices. The chart show the S&P/Case-Shiller 10 City index and the same index adjusted for inflation with the U.S. CPI. The adjusted series was... »

Houses News

News for houses and homes are about recent housing projects in various states in the United States. Housing projects include home or residential, retirement, university communities, and properties, which are under construction, for-sale/auction, acquirement, and the current housing market for potential buyers, not just real estate firms but for individuals as well.