Monthly Archives: July 2013

Republicans hate homeowners

From the WSJ: House Republicans Plan to Wind Down Fannie, Freddie Congressional Republicans said Thursday that they would introduce legislation to wind down Fannie Mae and Freddie Mac over five years and cede the companies’ roles to the private mortgage … Continue reading

Posted in Economics, Housing Recovery, Politics | 57 Comments

Rates to drag the market down (or maybe not)

From CNBC: Dire Predictions For Housing Recovery The housing recovery is in for a major pause due to higher mortgage rates. It is not in the numbers now, and it won’t be for a few months, but it is coming, … Continue reading

Posted in Economics, Housing Recovery, Mortgages | 75 Comments

Is the foreclosure crisis over?

From Inman News: The foreclosure crisis is over It’s been a long haul since the housing bubble burst in 2006 but there’s growing evidence that the foreclosure crisis is quickly winding down even as a stubborn batch of bad loans … Continue reading

Posted in Economics, Foreclosures, Housing Recovery | 48 Comments

Delinquencies ease, fewer homeowners underwater

From HousingWire: Less sickness in housing as delinquencies fall 43% from peak The housing market continues to recover from post-meltdown levels with mortgage delinquencies down 43% from 2010 levels, Lender Processing Services Applied Analytics said Monday. The number of borrowers … Continue reading

Posted in Housing Recovery, Mortgages, National Real Estate | 65 Comments

So much for that Code of Ethics

From the NY Daily News: Real estate agent fired from job after dumping dead animals on neighbor’s property: cops If good fences make good neighbors, these folk should have opted for barbed wire. Two Pennsylvania realtors have been cited for … Continue reading

Posted in Humor, Trash | 82 Comments

Fewer underwater as prices rise

From the WSJ: Real-Estate Rebound Buoys Underwater Mortgage Borrowers As the real-estate market rebounds, many luxury homeowners who just a few years ago had their heads underwater are now only ankle deep. At the end of the first quarter, 20.6% … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 53 Comments

Buyers beg to get off rate roller coaster

From CNBC: Housing Recovery Rides Mortgage Rate Roller Coaster Mortgage rates are moving so fast and so dramatically that even reports from barely a week ago seem suddenly outdated. The average rate on the 30-year fixed conforming loan moved to … Continue reading

Posted in Economics, Housing Recovery, Mortgages | 17 Comments

Hammers start swinging again

From the Record: NJ home construction running 45% ahead of 2012 rate In another sign of a recovery in housing, New Jersey home construction is running 45 percent ahead of last year’s rate, according to the U.S. census. In the … Continue reading

Posted in Economics, Housing Recovery, New Development, New Jersey Real Estate | 33 Comments

Governor keeps state out of the real estate business

From the Courier Times: Christie conditionally vetoes bill to create state program to buy foreclosed properties A controversial housing bill intended to help reduce New Jersey’s glut of foreclosed homes was vetoed by Gov. Chris Christie for a third time. … Continue reading

Posted in Foreclosures, New Jersey Real Estate, Politics, Risky Lending | 40 Comments

North Jersey Contracts – June 2013

Here it is! The first look at pending home sales (contracts) for Northern NJ. (Source GSMLS, except Bergen- NJMLS) – Updated with 2011/2010 Data June Pending Home Sales (Contracts) ——————————- Bergen County June 2010 – 711 June 2011 – 745 … Continue reading

Posted in Economics, Housing Recovery, North Jersey Real Estate | 58 Comments