News

August 12, 2008

  • Housing and Economic Recovery Act of 2008

    Housing and Economic Recovery Act of 2008
     
    We've been discussing all of these bills and plans for weeks and weeks, and now it's official… President Bush has signed the Housing and Economic Recovery Act of 2008 into law. With about 700 pages in this bill, it covers a lot of ground, and most of the new [...]

August 11, 2008

  • June Pending Home Sales Up 5.3%

    June Pending Home Sales Up 5.3%
     
    The number of pending homes for sale rose in June, a rebound from the previous month.
     
    The National Association of Realtors' Pending Home Sales Index rose 5.3% in June to 89 from a downwardly revised reading of 84.5 in May.
     
    The index remains 12.3% below its level in June 2007, when it [...]

August 7, 2008

  • Housing: Finally Some Positive News

    Housing: Finally Some Positive News
     
    Housing is getting some good news as the markets keep fighting on despite the front running economists saying its all but dead.
     
    First off, any good news needs a narrative and it starts with Donald Trumps record sale of his Florida Mansion.
     
    Meanwhile U.S. Housing starts unexpectedly surged 9.1% in June, the most [...]

August 6, 2008

  • Home Prices Drop in May

    Home Prices Drop in May
     
    A government report says U.S. home prices fell 4.8% in May from the same month last year.
     
    The Office of Federal Housing Enterprise Oversight also says prices, on a seasonally adjusted basis, fell 0.3% from April to May. The index is down almost 5% from its peak in April of last year.
     
    OFHEO [...]

July 31, 2008

  • Home Prices Rise Four Straight Months - Is Anyone Listening?

    Home Prices Rise Four Straight Months - Is Anyone Listening?
     
    Amidst the gloom on Wall Street about housing someone forgot to check the stats. The National Association of Realtors® has now reported four straight months of rising housing prices, but it seems no one is listening.
     
    According to NAR statistics, the median home price has fallen from [...]

July 22, 2008

  • Foreclosures: 343,000 and Counting

    Foreclosures: 343,000 and Counting
     
    The number of Americans losing their homes to foreclosure continued to soar in June, according to a report released recently.
     
    RealtyTrac, an online marketer of foreclosed properties, reported that lenders repossessed 71,563 homes in June. A year ago, just 26,369 homes were taken back.
     
    During the first six months of 2008, 343,159 Americans lost [...]

July 19, 2008

  • The New Housing Stimulus Package

    The New Housing Stimulus Package
     
    Even with Presidential veto threats looming, the housing stimulus package has taken another necessary step to being implemented – it has taken on another round of changes, passed the Senate, and is on its merry way to the White House again.
     
    The package is much larger than our aforementioned Foreclosure Prevention Act [...]

July 15, 2008

  • Housing Rescue Pace Slows

    Housing Rescue Pace Slows
     
    Hope Now, the mortgage industry alliance of lenders, servicers and housing counselors, reported recently that it helped roughly 170,000 homeowners avoid foreclosure in the month of May. That's down 7% from the 183,000 loan workouts it reported for April.
     
    The group estimates that its members have helped keep 1.7 million homeowners out [...]

July 14, 2008

  • National Speed Limit: Would You Slow Down?

    National Speed Limit: Would You Slow Down?
     
    Sen. John Warner of Virginia, asked Energy Secretary Samuel Bodman to look into what speed limit would provide optimum gasoline efficiency given current technology. He said he wants to know if the administration might support efforts in Congress to require a lower speed limit.
     
    In 1974, Congress set a national [...]

July 11, 2008

  • Housing Market: Can It Really Get Any Worse?

    Housing Market: Can It Really Get Any Worse?
     
    An even gloomier scenario may be in store for an already ailing U.S. housing market if the overall economy slips into a recession, according to UBS Securities analysts.
     
    Falling home prices, soaring foreclosures at a time of tighter lending and rising unemployment are all weighing heavily on an already [...]

June 20, 2008

  • Foreclosures: Lenders Slashing Prices

    Foreclosures: Lenders Slashing Prices
     
    Lenders stung by the housing bust are slashing prices dramatically to rid themselves of an unprecedented number of foreclosed properties, sparking bidding wars in some places that harken back to the market's go-go years and may signal the bottom is near.
     
    The trend is more dramatic in some parts of the country where [...]

June 9, 2008

  • Walkaway Homeowners: Fact or Fiction?

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June 7, 2008

  • Consumer Confidence: Worst Since

    Consumer Confidence: Worst Since '92
     
    A key measure of consumer confidence dropped in May to the lowest level in 16 years, as Americans grew more concerned about their jobs and more pessimistic about business conditions. The index has now declined for five months in a row.
     
    The Consumer Confidence Index is a weighted average of where consumers [...]

June 3, 2008

  • Housing Starts Up 8.2%

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May 31, 2008

  • Homes Sales Dip, Prices Down Sharply

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May 26, 2008

  • Home Appraisals: Changes on the Horizon?

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May 25, 2008

  • Housing Inventory Up Again in April

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May 17, 2008

  • Gas Prices Continue to Spike

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May 9, 2008

  • Vacant Homes for Sale Hit a New Record High

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May 8, 2008

  • Fed Cuts Funds Rate Again

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