Funding for Low-Income Housing Pays Off
Low-income housing programs managed by the Federal Home Loan Bank of Atlanta have had a positive impact on the area’s low- and moderate-income residents by creating more jobs and jump-starting the retail economy, according to a study released Thursday.
Research from The Shimberg Center for Housing Studies at the University of Florida tried to quantify the ripple effect of the $380 million that the bank has provided to build more than 60,000 units of housing between 1990 and 2009.
It concluded:
• Every $1 million in funding resulted in $14.3 million worth of new or rehabbed housing.
• Each $1 million in funding created 158 jobs.
• Since 1989, funding from the bank has generated more than $811 million in tax revenue, representing $2.79 in taxes for each $1 of funding.
Source: Federal Home Loan Bank of Atlanta (03/11/2010)
Hipotecas Prestamos 02:25 PM | The Real Estate Market
Fannie Mae 30 Year Fixed Rate Mortgages
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 4.93 percent in December from 4.88 percent in November; the rate was 5.29 percent in December 2008.
"Fannie Mae 30 Year Fixed Rate Mortgages"
Hipotecas Prestamos 03:21 PM | The Real Estate Market
December 2009 Home Sales Tax Credit Ends
After a rising surge from September through November, existing-home sales fell as expected in December after first-time buyers rushed to complete sales before the original November deadline for the tax credit. However, prices rose from December 2008 and annual sales improved in 2009, according to the National Association of Realtors®.
"December 2009 Home Sales Tax Credit Ends"
Hipotecas Prestamos 03:12 PM | The Real Estate Market
Strong First Time Homebuyers Home Ownership
Despite today’s challenging economy, demand for home ownership remains strong and first time buyers make up a significant segment of all potential buyers. Nearly ten percent (9.8%) of consumers say they plan to buy a home in the next two years, with 5.4 percent planning to purchase in the next 12 months. Of those planning to purchase a home in the near future, nearly half (48.3%) are first time buyers, with women (52.8%) slightly more interested in entering the housing market than men (44.1%).
"Strong First Time Homebuyers Home Ownership"
Hipotecas Prestamos 10:50 AM | The Real Estate Market
Todays Housing Market Real Estate Investors
According to the Move.com survey, one out of eight (12.1%) homebuyers today plan to purchase a home as an investment property, compared to 5.6 percent seven months ago(1). Of those interested in buying a home for investment, 15.8 percent were men and 8.1 percent were women.
"Todays Housing Market Real Estate Investors"
Hipotecas Prestamos 10:47 AM | The Real Estate Market
Video Camera Tips for Real Estate Agents
"Video Camera Tips for Real Estate Agents"
Hipotecas Prestamos 10:05 AM | The Real Estate Market
Home Values Higher than Mortgage Debts
The percentage of U.S. homeowners with mortgage debt that exceeds the value of their home declined slightly from the second to third quarters, in part because home prices are stabilizing but also because many homeowners who had been underwater lost their homes to foreclosure, Zillow.com reported today.
An analysis of public records collected for the Zillow Real Estate Market Reports suggests that 21 percent of homes with mortgages were underwater at the end of September, down from 23 percent at the end of June, Zillow said.
An index measuring home values in 156 metropolitan statistical areas (MSAs) tracked by Zillow was relatively flat, declining 0.4 percent from the second quarter to the third. Looking back a year, the index showed the median value of single-family homes, condominiums and cooperatives in those markets falling 6.9 percent, to $190,400.
"Home Values Higher than Mortgage Debts"
Hipotecas Prestamos 09:57 AM | The Real Estate Market
Commercial Real Estate FDIC Report Loans
On October 30th, the Federal Deposit Insurance Corporation issued updated guidelines stating how banks must deal with troubled commercial real estate loans. In its policy statement, the FDIC recognizes the challenges that borrowers are experiencing, such as "diminished operating cash flows, depreciated collateral values, or prolonged delays in selling or renting commercial properties." It also acknowledges the difficulties businesses have to obtain credit.
"Commercial Real Estate FDIC Report Loans"
Hipotecas Prestamos 08:45 PM | The Real Estate Market
US Bank Regulators Commercial Real Estate Warnings
US Bank Regulators Commercial Real Estate Earnings Warning = U.S regulators on Friday encouraged banks to modify troubled commercial real estate loans, which are seen as a looming danger spot for the banking industry. The regulators issued guidance to financial institutions and said "prudent" loan workouts are often in the best interest of both the borrower and the bank itself.
"US Bank Regulators Commercial Real Estate Warnings"
Hipotecas Prestamos 08:39 PM | The Real Estate Market
New Fed Guides Commercial Real Estate Mod Loans
Banks must accurately identify their potential losses when modifying troubled commercial real estate loans under federal guidelines issued Friday. Regulators have warned that rising losses on commercial real estate loans pose risks for U.S. banks, with small and mid-size banks especially vulnerable. Nearly $500 billion in commercial real estate loans are expected to come due annually over the next few years.
"New Fed Guides Commercial Real Estate Mod Loans"
Hipotecas Prestamos 08:34 PM | The Real Estate Market
Foreclosure Loan Real Estate Lenders
With the large number of real-estate-owned homes overwhelming most mortgage lenders and driving many others out of business, it’s curious that some are making stringent demands on how foreclosed homes are financed.
"Foreclosure Loan Real Estate Lenders"
Hipotecas Prestamos 08:29 PM | The Real Estate Market
