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Housing News: October 29, 2009 October 29, 2009

Posted by John Watch in AccuriZ News, AccuriZ Reports, News Feed.
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The ups and downs of the real estate market…always keeps us in suspense..please read on…

http://www.biggerpockets.com/renewsblog/2009/10/28/home-sales-fall-36-september-decline-march/

http://www.therealestatebloggers.com/2009/10/28/new-home-sales-down-even-with-first-time-homebuyers-credit/

http://www.businessweek.com/bwdaily/dnflash/content/oct2009/db20091028_283152.htm?ref=patrick.net

http://www.msnbc.msn.com/id/33505013/ns/business-real_estate/?ref=patrick.net

http://www.cnbc.com/id/33498688/?ref=patrick.net

 

 

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Housing News: October 27, 2009 October 27, 2009

Posted by John Watch in AccuriZ News, AccuriZ Reports, News Feed.
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http://www.calculatedriskblog.com/2009/10/existing-home-sales-more-activity.html?ref=patrick.net

http://www.nytimes.com/2009/10/25/realestate/25mort.html?_r=1&partner=rss&emc=rss

http://www.msnbc.msn.com/id/33491043/ns/business-real_estate/

http://paper-money.blogspot.com/2009/10/existing-home-sales-report-september.html

http://www.biggerpockets.com/renewsblog/2009/10/27/dos-donts-offer-price/

http://www.realtor.org/RMODaily.nsf/pages/News2009102602?OpenDocument&WT.cg_n=RMO&WT.cg_s=RSSDaily

http://www.nytimes.com/2009/10/28/business/economy/28home.html?partner=rssnyt&emc=rss

http://www.credit.com/news/housing-market/2009-10-25/home-buyers-returning-to-the-real-estate-market.html

 

 

Housing News: 10/15/09 October 15, 2009

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For statistical reports on property data from public records and property valuation click here.

Chances Are, Most HAMP Mods Won’t Work: Amherst

Housing in Crisis

Will the Groundhog See a Shadow Housing Inventory?

Square Footage and Median Price Differentials

Foreclosure up 5 percent from summer to fall

Real Estate Bulls and Bears

Fed Can’t Be Blamed For Financial Crisis

Mortgage Assistance Program for Homeowners

Concerns About the Tone of the Market’s Current Advance

Real Estate is: Cyclical, Seasonal and Emotional

Seriously Folks, the Housing Bubble is Back

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TARP or CARP? Are Taxpayers Getting A Fair Deal? October 14, 2009

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TARP or CARP? We hope that TARP’s money is being used wisely in the mortgage sector. According to this Reuters article, 33 TARP recipients missed a dividend payment last month. This includes 15 banks and thrifts who missed a May 15 dividend payment, with 18 more missing a payment for the first time.  

Soruce: blogs.reuters.com

Out of the 33 banks in question, 11 are in California, one of the worst states affected by the financial and housing crisis. The largest company to miss the dividend payment is the New York based CIT Group Inc. ($71.02 billion)

While the TARP program allows a maximum of six payments to be missed before action is taken, it’s ironic that many of these same banks make an incredible amount of money on overdrafts, late and missed payment fees.

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Housing News: 10/14/09 October 14, 2009

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For statistical reports on poperty data and public records, click here

Push on to expand $8,000 tax credit

Unemployment to remain high for years

Housing in Crisis

No shame in walking away from mortgage

Bulls and Bears of Real Estate

Tilson: Housing “Recovery” is Still the Mother of all Head Fakes

Mortgage Assistance Program for Homeowners

33 banks and thrifts skip August TARP dividend payment

Square Footage and Median Price Differentials

Obama Administration releases new data on Making Home Affordable Program

Help from Fannie and Freddie for Foreclosed Homes

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Housing News: 10/13/09 October 13, 2009

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For statistical reports on property data from public records and property valuation click here.

Treasury to Announce New Program to Avoid Foreclosure

FHA Head Rejects Calls for Higher Down Payments

Housing In Crisis

Mortgage Rates Are Not As Low As Newspaper Are Reporting

Real Estate Mania: Bulls and Bears

Jumbo Loan Rates Dip Below 6%, Lowest in Four Years

Mortgage Assistance Program

Banks Getting Better at Processing Foreclosures

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Mortgage Industry Faces Looming Concerns October 9, 2009

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Heading into the 4th Quarter of this tumultuous economic year, the mortgage industry faces growing problems ahead. While news of Obama’s HAMP program reaching its 500,000 goal of helping homeowners faster than expected is promising, concerns on possible bailouts and underperforming programs continues to threaten the vision of recovery in the housing market. Mortgage Assistance Programs are needed to curtail these concerns before problems become “too big to fail.” We must always remember that Real estate is Cyclical Seasonal and Emotional.

Will the FHA Need a Taxpayer Bailout?

The question about a possible Federal Housing Administration bailout in the near future is the story circulating news desks today. F.H.A. commissioner David H. Stevens sought to dispel concerns about the mortgage giant’s looming problems.

“Absent any catastrophic home price decline, F.H.A. will not need to ask Congress and the American taxpayer for extraordinary assistance – we will not need a bailout,” Mr. Stevens said in a prepared testimony on Capitol Hill Thursday.

Providing lenders with protection against losses as the result of homeowners defaulting on their mortgage loans, the FHA now insures more than 25% of mortgages in the country, up from 3% in 2006. Critics argue that a future FHA bailout is almost inevitable, as the agency’s capital is dangerously close to dipping below the mandated level of 2%. Independent financial consultant Edward Pinto concurs,

“It appears destined for a taxpayer bailout in the next 24 to 36 months,” Edward said. He estimates that the agency faces losses of $70 billion on loans it has already made, short of its current reserves by $40 billion.

Fed Preparing for Commercial Real Estate Mortgage Crisis?

An unpublished Federal Reserve Report leaked in a recent Wall Street Journal article reporting rising defaults in the commercial real estate sector. The unpublished report concludes that U.S. banks are slow to take losses on their commercial real estate loans. Specific servicers reported having only 11 cents in reserves for every $1 in bad loans in the second quarter. 

The NuWire Investor had this to say; “I don’t know what’s worse, the banks skimping on reserves and holding off on reporting losses in hope of revival or the Fed for knowing about the problem and trying to keep it a secret. Someone at the Fed must feel the same way because the report somehow found its way to the media.”

TARP Oversight Group Says Treasury Mortgage Plan Not Effective

The TARP group indicates that the government needs to increase its efforts to help struggling homeowners in this article. There is doubt that the $50 billion loan-modification program will provide the necessary relief to all homeowners it intended at the start of the program. With rising factors of unemployment, and decreasing property values the task becomes more daunting.

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Housing News: 10/9/09 October 9, 2009

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For statistical reports on property data from public records and property valuation click here.

FHA Won’t Need a Bailout says David Stevens

Real Estate is: Cyclical, Seasonal and Emotional

HAMP Reaches 500,000 Modification Milestone

Housing in Crisis

Leaked Document Shows Fed Preparing For Next Mortgage Crisis

Square Footage and Median Price Differentials

New Thinking Needed to Rebuild Housing Market

Mortgage Assistance Program

New Housing Bill Will Force Loan Modification

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Manhattan Apartment Market’s Quick Rebound October 8, 2009

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It’s good to see industry analysts confirming what we predicted roughly two months ago. A recent MSNBC articleindicates a surprisingly quick rebound in the Manhattan apartment market as of late. As consumer confidence builds, stability strengthens in the market as stated in our August Manhattan Condo Report and NYC Square Footage and Median Price Differentials report.

In our August report, we projected a sales activity and property values increase in the months of July, August and September.

Source: AccuriZ.com

The recent MSNBC article indicated a sales increase of apartments and co-ops between 46 and 69 percent from the second to the third quarter, with the number of New York’s unsold apartments falling from the peaks of April. Our projections of a 4th Quarter level of stability are appearing to be valid. In the real estate market there are few trusted sources and AccuriZ has been proven to be an authoritative source consistently.

For more statistical reports on property data from public records and property valuations click here.

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Housing News: 10/6/09 October 6, 2009

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For statistical reports on property data from public records and property valuation click here.

Fannie Prepays Could Grow By 10%, Says BofA Merill Lynch

Housing in Crisis

Program to But Bad Assets  Nearly in Place, U.S. Says

Square Footage and Median Price Differentials

All Eyes on the Resedential Real Estate Radar

Real Estate is Cyclical, Seasonal and Emotional

Mortgage Assistance Program to Benefit Homeowners

A Plan for Forbearance

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