Daily Real Estate News | March 28, 2011 | Mortgage Delinquencies Continue to Decline Mortgages for single-family homes that are 90 days or more delinquent declined for the third consecutive month in February, Freddie Mac reports. Delinquencies on single-family homes dropped to 3.78 percent in February from 3.82 percent in January. What’s more, delinquencies were lower than the 4.2% rate … [Read more...]
Where Did All the First Time Buyers Go?
March 29, 2011 by
Daily Real Estate News | March 28, 2011 Where Did All the First-time Buyers Go? In January, first-time home buyers made up 29 percent of the market, the lowest since the National Association of REALTORS® started tracking first-time buyers on a monthly basis in 2008. In a healthy market, first-time buyers generally make up 40 percent to 45 percent of all purchasers. So with low interest … [Read more...]
13% of Homes are Empty, Census Says
March 29, 2011 by
Daily Real Estate News | March 28, 2011 | 13% of Homes Are Empty, Census Says Of all U.S. homes, 13 percent stand vacant, according to U.S. Census Bureau statistics. "More vacant homes equal more downward pressure on home prices," says Brad Hunter, chief economist for Metrostudy, a real estate information provider. But there are a few surprises on the census’ list of most empty states. … [Read more...]
February Pending Home Sale Rise
March 29, 2011 by
Daily Real Estate News | March 28, 2011 | February Pending Home Sales Rise Pending home sales increased in February but with notable regional variations, according to the National Association of REALTORS®. The Pending Home Sales Index, a forward-looking indicator, rose 2.1 percent to 90.8, based on contracts signed in February, from 88.9 in January. The index is 8.2 percent below 98.9 … [Read more...]
Fannie Report Warned of Foreclosure Problems in 2006
March 27, 2011 by
By CARRICK MOLLENKAMP And NICK TIMIRAOS Fannie Mae was warned in a 2006 internal report of abuses in the way lenders and their law firms handled foreclosures, long before regulators launched investigations into the mortgage industry's practices. The report said foreclosure attorneys in Florida had "routinely made" false statements in court in an effort to more quickly process foreclosures … [Read more...]
