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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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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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Firms Getting Federal Funds Have Spotty Records October 5, 2009

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It is well documented that many borrowers now seeking loan-modifications are facing continuous roadblocks dealing with the mortgage firms they were borrowing from. Much of the inefficiencies in President Obama’s Home Affordable Modification Program deal with lenders’ unresponsiveness to customers. Improvements to the program have increased transparency in lenders’ efforts to borrowers. But stricter guidelines will not ultimately force lenders to play it straight, which is why alternative Mortgage Assistance Programs should be viewed and taken into consideration.

A recent Yahoo article sheds light on the guilty practices of some mortgage firms now involved in the Treasury’s program to modify troubled mortgages. The article mentions guilty of inexcusable practices dating ar far back as 2007, many with a no comment response. Instances of missed calls, shuffled or lost paperwork, unattainable payments and unfair late fees to customers mirror the problems facing Obama’s HAMP program today.

So what have we learned?

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Housing News: 10/05/09 October 5, 2009

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

Bad News on Jobs: More Pain in Housing

Housing In Crisis

Oh, Give Me a Home Without a Subsidized Loan

Real Estate is Cyclical, Seasonal and Emotional

A Look Ahead to the Great Mortgage Resetting

Mortgage Assistance Program

The Impact of the Declining Homeownership Rate

Square Footage Matters – Larger Homes Indicate Stable Values

Pending Home Sales Jump 6.4%

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Housing Market News: 10/01/09 October 1, 2009

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

Housing in Crisis

Shiller Sees 5 Years of Stagnant Home Prices

Bulls and Bears of Real Estate

New Bill will Force Modifications and Restrict Foreclosures

Mortgage Assistance Program

Hope Now Lenders Still Choosing Payment Plans Rather Than More Permanent Fixes

Square Footage and Median Price Differentials

Nearly 1 in 3 Mortgages Denied Last Year

Walking Away from Affordable Mortgage May Become Winning Gambit

Real Estate is: Cyclical, Seasonal and Emotional

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News: Mortgage Edition September 30, 2009

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

Many still can’t make payments after mortgage modifications

Mortgage Assistance Program

Fannie and Freddie Delinquencies Move into Uncharted Territory

MBA: Mortgage Rates Hold Below 5.00%. Loan Demand Falls

21st Century Lend-Lease Plan

Freddie Doing Loan Mods Door-to-Door

Mortgage Modifications Could Mean a 396% Marginal Tax Rate

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