Real Estate Homes

Funding for Low-Income Housing Pays Off

Fri, 12 Mar 2010 14:25:14 -0500

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)

Fannie Mae 30 Year Fixed Rate Mortgages

Mon, 25 Jan 2010 15:21:23 -0500

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.

December 2009 Home Sales Tax Credit Ends

Mon, 25 Jan 2010 15:12:21 -0500

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®.

Strong First Time Homebuyers Home Ownership

Thu, 12 Nov 2009 10:50:35 -0500

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%).

Todays Housing Market Real Estate Investors

Thu, 12 Nov 2009 10:47:39 -0500

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.

Video Camera Tips for Real Estate Agents

Mon, 09 Nov 2009 10:05:10 -0500

Home Values Higher than Mortgage Debts

Mon, 09 Nov 2009 09:57:38 -0500

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.

Commercial Real Estate FDIC Report Loans

Sun, 01 Nov 2009 20:45:39 -0500

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.

US Bank Regulators Commercial Real Estate Warnings

Sun, 01 Nov 2009 20:39:36 -0500

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.

New Fed Guides Commercial Real Estate Mod Loans

Sun, 01 Nov 2009 20:34:46 -0500

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.

Foreclosure Loan Real Estate Lenders

Sun, 01 Nov 2009 20:29:58 -0500

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.

The Commercial Real Estate Problems for 2010

Sun, 01 Nov 2009 20:25:33 -0500

America's commercial real estate market continues to look sick. The latest indication comes Sunday, following the abrupt bankruptcy filing of Capmark Financial Group, the massive commercial real estate financier that formed in 2006 when GMAC agreed to sell the majority of its commercial real estate business to Kohlberg Kravis Roberts and others.

New Home Sales September 2009 Tax Credits

Wed, 28 Oct 2009 11:26:59 -0500

New home sales fall a surprising 3.6%. September new US home sales post surprise drop as benefit of first-time buyer tax credit wanes. Sales of new U.S. homes dropped unexpectedly last month as the effects of a temporary tax credit for first-time owners started to wane.

The Commerce Department said Wednesday that sales fell 3.6 percent to a seasonally adjusted annual rate of 402,000 from a downwardly revised 417,000 in August. Economists surveyed by Thomson Reuters had expected a pace of 440,000.

US Home Prices August 2009 Real Estate

Tue, 27 Oct 2009 16:33:05 -0500

Home prices rose in August for the third straight month, a rapid pace of recovery that surprised economists and raised questions about how long the trend can last. After a steep three-year descent, home prices rebounded this summer at an annualized pace of almost 7 percent, the Standard & Poor's/Case-Shiller home price index showed Tuesday. Against a backdrop of rising unemployment and falling consumer confidence, the speed of the recovery stumped Robert Shiller, economist and co-creator of the index.

US Foreclosures Continued to Rise in 3Q 2009

Thu, 15 Oct 2009 08:37:23 -0500

Real Estate - The number of Americans receiving a foreclosure notice in the third quarter continued to grow, according to a new report, despite government programs intended to attack the problem.