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Single-Family Rental Demand Is Outstripping Supply
Author: Nick Timiraos, The Wall Street Journal
Demand for single-family rental housing is outstripping the available supply of homes, and some housing markets that have been hit hardest by the foreclosure crisis have seen rental demand jump by more than 25% in the past year, according to a report to be released Tuesday by real-estate firm CoreLogic . It shouldn’t be surprising Read More
New Short-sale Program Offers Relief For Underwater Homeowners
Author: Michelle Hofmann, Los Angeles Times
Though there are still some snares and drawbacks for participants, one of the federal government’s most important financial relief efforts for underwater homeowners started operating Nov. 1. It’s a new short-sale program that targets the walking wounded among borrowers emerging from the housing downturn — owners who owe far more on their mortgages than their Read More
Appraisal Can Complicate Selling, Refinancing A Home
Joanna Zimring Towne thought refinancing her Altadena home would be simple. When Zimring Towne and husband Andrew Towne, a 48-year-old television lighting technician, bought the two-bedroom home for $535,000 in 2006, the appraiser valued it at about $600,000. During the November 2011 inspection, Towne walked around the property with the appraiser. The couple were being Read More
Deals On Foreclosed Homes Dwindling
The days of deals on foreclosures appear numbered, one analysis indicates. A new look at foreclosure discounts by the website Zillow found that the price difference between a foreclosed house and one sold outside of foreclosure was just 7.7% nationally in September. That foreclosure discount fell from 9.1% in September of last year. It’s also Read More
Shortage Of California Homes Up For Sale
For the first time in about five years, I got a call from a real estate agent Friday asking me if I was interested in selling my home. Matt Hoffman of San Mateo says he has had two real estate people come by his home in the past month asking if he wanted to sell Read More
More Signs Of A Housing Rebound
A recovery in new home construction appears to be underway, with significant increases in both housing starts and building permits last month, according to the Census Bureau. Housing starts rose 6.9% in June to a 760,000 annual rate, the highest level in four years. That’s up an impressive 23.6% compared with a year earlier. Permits Read More
Taking Advantage Of Low Rates
The mortgage market seems to have been dancing its own version of the limbo, as interest rates headed lower and lower for six consecutive weeks. Although they inched up this past week, home buyers and refinancers may be wondering how low rates can go — and how they can capture the best rates now. “Mortgage Read More
Why Aren’t There More Homes for Sale?
It’s no secret to anyone who has watched the real-estate market over the past year that the number of homes for sale has dropped sharply, especially in hard-hit markets such as Miami, Orlando and Phoenix. Economists at CoreLogic have new evidence showing how big price declines are keeping many home sellers on the sidelines. They Read More
Shortage Of Homes For Sale Creates Fierce Competition
The newest problem for the slowly improving housing market isn’t a shortage of serious buyers, it’s a shortage of good homes. Would-be buyers are packing open houses and scrambling to make offers on properties before they are even listed. Bidding wars are erupting. And real estate agents are vying fiercely to represent the few sellers Read More
The Advantages Of Preapproval
With the housing market warming up in many areas, and multiple offers becoming more commonplace, buyers who want an advantage in the bidding process will need more than a mortgage prequalification. They will need a preapproval. The difference is significant. Prequalifying for a mortgage is based solely on what you disclose to the loan officer Read More
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