Changing Housing Market Means Changes In Rental Behavior
With the housing crisis and rising foreclosures, there are more renters on the market. Add these new renters to the existing renters, and you may see changes in renters' behavior. According to a study by Rent.com, more renters are trying to find additional roommates and they're looking for the basic…
Home Affordable Refinance Program Expanded To 125% Loan-To-Value Ratio
The Federal Housing Finance Agency (FHFA) announced Fannie Mae and Freddie Mac will be able to use the Home Affordable Refinance Program to help homeowners with a loan-to-value ratio up to 125 percent. The previous limit was 105 percent. The 125 loan-to-value ratio will allow borrowers with Fannie…
The More Things Change, The More Things Stay the Same, Location, Location, Location
In the new world of real estate there are many changes to keep track of, but there are also some key parts to the home buying process that haven’t changed. Real estate agents are still a good deal for home buyers. You’ll get the best home loan rates and save money if you shop around. Home repair and…
Survey Shows Changing Attitudes Toward Being A Homeowner
In the midst of the housing crisis, Americans' attitudes toward homeownership is changing. Being a homeowner used to be thought of as a safe way to build your personal wealth. According to a recent survey, almost half of Americans don't think owning a home is a good way to build wealth, and almost…
Recovery Act Funds Being Used To Improve Housing Market
I was running errands last weekend and saw my first sign on the side of the road, next to some construction, that said, "This project was paid for by the American Reinvestment and Recovery Act of 2009."
The Treasury Department announced yesterday $268 million in American Recovery and Reinvestment Act…
$268 Million More In Recovery Act Funds For Housing And Job Creation
The Treasury Department announced $268 million will be available to the American Recovery and Reinvestment Act, or the stimulus plan, to create jobs and improve the housing market. The money will be used for the development of affordable housing units in Indiana, Missouri, Tennessee, and Washington…
Federal Housing Finance Agency (FHFA) Boss James Lockhart on Fixing the Housing Market
At the recent meeting of the National Association of Real Estate Editors in Washington, D.C., James Lockhart, director of the Federal Housing Finance Agency (FHFA), which oversees Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, discussed how the housing market had changed from 2007 to 2009…
Federal Housing Finance Agency's James Lockhart - Questions and Answers
What's the latest on streamline short sales, loan modifications, and loan refinancings? The Federal Housing Finance Agency's director James Lockhart took questions at the recent National Association of Real Estate Editors meeting about these topics, as well as FHFA's multi-family housing policy…
Signs To Watch Out For When The Housing Market Is Recovering
Ilyce says there are four ways to know when the housing market is recovering:
1. The proportion of home buyers and sellers evens out;
2. Home prices stop falling;
3. Home price start rising;
4. Home buying activity increases.
Are you seeing changes in your local real estate market? What would be a…
Appraisal Report: How to Know When the Housing Market is Recovering
How can you know when the housing market is recovering? The housing market crisis has to do with supply and demand being out of whack. At the moment (in 2009), there are too many sellers and not enough buyers. Fixing supply and demand is key, but there are many factors that go into supply and…
HUD Secretary Shaun Donovan Speaks To National Association Of Real Estate Editors
Secretary of Housing and Urban Development Shaun Donovan spoke at the National Association of Real Estate Editors Annual Conference. Secretary Donovan spoke about how HUD is involved in President Obama's plans for the economic crisis and the Making Home Affordable act, FHA reform and how that will…
Bidding Above The Listing Price For A New Home
You know that the real estate market has hit bottom when buyers are starting to bid above the list price for homes. With the large number of homes on the real estate market, real estate investors and first time home buyers are looking at the best priced homes. At times, bidding wars arise and homes…
ThinkGlink Radio Show for Jun 17, 2009
Ilyce is away from the Ilyce Glink Show and she's talking with Doug Page in The Press Room News & Tech Radio Network Show about the housing market and personal finance issues as they affect the newspaper industry and consumers. Listen to this hour-long podcast for Ilyce's take on the economy…
Is Your Net Worth Lower This Year?
Are you experiencing a reversal of fortune? Is your net worth lower this year than last? How does it compare to 2007, which was the height of the stock market? Or, what about in 2006, which was the top of the housing boom?
In a new article just…
Mark Zandi: Housing Prices, Interest Rates Key to Housing Recovery
Mark Zandi, chief economist for Moody's Economy.com, spends much of his time looking at housing and finance data to help figure out which way the economy is going. He believes that housing prices and interest rates are key to the housing recovery. When will the credit crisis abate? When will the…
Today on the Ilyce Glink Show - May 31, 2009
Today on the Ilyce Glink show, Ilyce talked about HUD Secretary Shaun Donovan's announcement this week that first-time buyers would be able to use their $8,000 tax credit to offset some FHA loan program costs and then put the rest toward a larger down payment - after coming up with the initial 3.5…
Home Value Affects Property Division
If you bought a home with a partner and later decide to split, you'll likely need to divide up the home as well. What's a fair way to buy one partner out of a house? How do falling home values affect the division of a home? Should you sell the home or buy the other person out? Either way, the home…
Housing Market Data Shows Housing Crisis Ongoing
How is the housing market doing in spring 2009? Is the housing crisis coming to an end as some people suggest? While housing market data provided by groups such as the National Association of REALTORS may be less bad than it used to be, the real estate market has yet to rebound. It would take more…
Existing Home Sales Rise 2.9 Percent From March
It's funny. This morning I went to check the Web site of the National Association of Realtors for the latest numbers for existing home sales and they hadn't been posted yet. Then after I finished the other two blogs just now, it magically appeared. Anyway...
Existing home sales increased 2.9 percent…
Economists Predict Recession End Soon, But Recovery Slow
The National Association of Business Economists are feeling similarly to the consumers polled by the Conference Board in May - that is optimistic. NABE released a survey today that states that its economists expect the recession to end soon, with a moderate recovery pace.
On the other hand, NABE's…
More Mortgage Applications Processed As Rates Rise Slightly
Mortgage interest rates rose slightly last week for 30-year fixed rate mortgages and one year adjustable rate mortgages, announced the Mortgage Bankers Association today. But they're still relatively low.
Yesterday I blogged how falling home values makes buying a home more affordable for first time…
Home Prices Decline 19 Percent In First Quarter 2009
I remember sitting in an economics reporting seminar in grad school three years ago and many of us lamenting that we would not be able to buy homes, not with having to repay student loan debt too. Ever since the bursting of the housing bubble I'm feeling more hopeful. And today's S&P Case…
New Residential Construction Declines In April
The Department of Commerce announced this morning that new residential construction declined in April in terms of building permits, housing starts and housing completions.
Here are the stats:
* 494,000 building permits issued, down 3.3 percent from March, down 50.2 percent from a year earlier
…
Today on the Ilyce Glink Show - May 17, 2009
Hard to believe it's almost Memorial Day. Today on the Ilyce Glink Show, I announced that I'll be filling in for Clark Howard on Friday and Memorial Day Monday in addition to another live show next Sunday. I hope you can tune in.
Meanwhile, we had a great show today. Here are some of the highlights…
Home Values Decline, But Buyers Struggle To Afford Home Buying
With grocery stores advertising good deals, it's just one sign of retailers helping consumers. A recent study released by the Center for Housing Policy compared housing affordability against how much people earn. The study found that while the home prices have declined, many people still cannot…
