Large investors have slowed purchasing but are holding on to what is becoming an increasingly lucrative asset: The single-family rental home.» Read More
Foreclosures are setting new records again, this time not in their overall numbers, but in the time it is taking for all of these properties to be processed through the legal system. The average loan in foreclosure has now been delinquent a record 631 days.
At first glance it seems like a huge and hopeful headline: Pending home sales, based on contracts signed, rose 10.4 percent in October from September. It certainly gives the impression that buyers are hopping off the fence and into the market. Well, let's not get ahead of ourselves.
Sales of newly built homes are bouncing around a bottom, but prices are now at the lowest level of the year. The fact that October of this year saw the lowest price of the year so far is not good news going forward. What this means for the nation's big builders has the analysts split.
Sales of existing homes in October beat expectations, registering a gain of 1.4 percent from the previous month, but that number masks a market that is heavily weighted to the low end. Realtors say they expect sales to bounce around the same levels for the rest of the year, with a very slight annual gain from 2010.
Despite rising foreclosures and weak consumer confidence, the nation's home builders are seeing signs of hope in housing. Home builder confidence rose for the second straight month in November, according to the National Association of Home Builders' monthly sentiment survey, but builders warn it is still far below a positive reading.
Real estate company Coldwell Banker has released its annual list of average home listings in college football towns (FBS). The average prices are for a three-bedroom, two bathroom home. Here are some of the highlights.
The government's mortgage insurer is coming dangerously close to holding no excess cash reserves for loan losses.
CNBC's Diana Olick has the details on the Senate Banking Committee hearing on the Federal Housing Finance Agency and new information out of the FHA.
In California, a raft of foreclosures has presented an unusual housing opportunity for thousands of college students, who can rent McMansions for a song. The New York Times reports.
More U.S. homes entered the foreclosure process in October than in the previous month, with Florida, Pennsylvania and Indiana registering among the largest monthly increases, new data show.
Over 50 percent of all mortgaged households in the US are effectively underwater — unable to sell for enough to pay the six percent Realtor's fee and put a down payment on a new home, a mortgage analyst says.
However long they were married, the price of breaking the contract was huge -- sometimes even reached nine figures.
It's late, and it's limited, but for borrowers who feel their homes were wrongly or inappropriately foreclosed upon in 2009 and 2010, there is now recourse.
A new plan to help the housing market could make foreclosed homes a sought after commodity, with CNBC's Diana Olick.
What's weighing on confidence are still-falling home prices, and what's pushing those home prices down are foreclosures. That's why the Obama Administration is pushing a potential plant to auction off foreclosed properties in bulk to investors.
"President Obama is taking action." At least that's what the blog on the WhiteHouse.gov says today in describing the president's trip to Las Vegas. "We can't wait to help homeowners," it goes.
“For two years I kept thinking that things would get better,”one Florida homeowner tells the New York Times. “Now I think the future doesn’t look so good.”
Despite the furor, the threats, and the big bank blame game, there is still no settlement between the "robo-signers" and the fifty state attorneys general who promised payback for borrowers. Now, as talks are allegedly in their final phase, according to a source very close to the process, the AG's have thrown in another wrench, or perhaps they're throwing a bone.
I'm here today doing a story on Bank of America's new program to demolish some of these homes and donate them back to the city. They expect to do a mere 150 over the next two years, which is really a drop in the bucket when you go on foreclosure websites and see thousands of these properties for sale, with many more coming.
The average rate on the 30-year fixed mortgage rose sharply this week after falling below 4 percent for the first time in history.