Open House from Creators Syndicate

'No Closing Cost' Loans Are a Lot Like Unicorns and Leprechauns for 07/06/2009

Mon, 06 Jul 2009 00:00:00 -0700

With home sales rising in many markets, mortgage companies are getting more aggressive and competitive in promoting home loans.

They are stricter in qualifying mortgage applicants, however, a lesson learned from the many disastrous loans made by the industry over the past couple of years. But mortgage companies are resorting to their old tricks, such as "no closing cost" loans. ...

Updated: Mon Jul 06, 2009

Things Are Looking Up in the Housing Market for 07/13/2009

Mon, 13 Jul 2009 00:00:00 -0700

Home prices are low, but their rate of decline is generally slowing. In some markets, prices have stabilized or are rising. Home sales activity is slowly rising.

Mortgage rates are remaining at historic low levels. Certain incentives, such as the tax credit for first-time buyers, are working.

"Low mortgage rates are helping to support the housing market," said Frank Noth ...

Updated: Mon Jul 13, 2009

Views Differ on New Home-Appraisal Code of Conduct for 07/20/2009

Mon, 20 Jul 2009 00:00:00 -0700

The process of appraising a home has undergone a major change —welcomed by some groups, condemned by others.

The change was triggered by the implementation in May of the Home Valuation Code of Conduct. It establishes strict standards for the selection, compensation and possible conflicts of interests of people assigned to appraise residential properties.

The code's primary o ...

Updated: Mon Jul 20, 2009

New Laws Proposed to Boost Home Sales for 07/27/2009

Mon, 27 Jul 2009 00:00:00 -0700

Political leaders are proposing new legislation to help solve housing and mortgage problems for families who have experienced a job loss or other serious financial difficulty. Such proposals are often good politics, good for troubled families and good for the country.

One proposed bill would create a $2 billion loan program for unemployed homeowners who don't qualify for other mortgages ...

Updated: Mon Jul 27, 2009

Expert: Roommates Represent the Wave of the Future for 08/03/2009

Mon, 03 Aug 2009 00:00:00 -0700

Togetherness is taking on new meaning in the world of real estate. It means more people in all age segments are living together under one roof.

In past years, most individuals and families lived in their own residence. They either owned or rented their home. Today, increasingly large numbers of people are sharing their living accommodations with others.

It starts with younger unma ...

Updated: Mon Aug 03, 2009

More People Have Designs on Communal Living for 08/10/2009

Mon, 10 Aug 2009 00:00:00 -0700

Cohousing — a concept in which residents actively participate in the design and operation of their community — is growing in popularity.

The physical design of a cohousing project encourages both social contact and individual space. Private homes contain all the features of conventional homes, but residents have access to extensive common facilities such as open space, courty ...

Updated: Mon Aug 10, 2009

The Increase in Condo Sales Brings Economic Advantages to Communities for 08/17/2009

Mon, 17 Aug 2009 00:00:00 -0700

Condominium housing units are not only increasingly popular with buyers, they are also giving communities a much-needed economic boost. The development of condo projects generates significant economic benefits for the local community long after the building process has been completed.

Also, there are new trends surfacing in the design and operation of condo developments.

The impac ...

Updated: Mon Aug 17, 2009

Tenant Demands Pull Rents Down for 08/24/2009

Mon, 24 Aug 2009 00:00:00 -0700

Renters of apartments and other homes are showing increasing resistance to the high rents that have escalated over the past couple of years. Those rents have been in decline in nearly every major market nationwide during the second quarter of this year, according to a survey conducted by Real Facts, a rental research firm (www.realfacts.com).

On average, asking rents are down nationwide. ...

Updated: Mon Aug 24, 2009

Men and Women Home-Buying Decisions Differ for 08/31/2009

Mon, 31 Aug 2009 00:00:00 -0700

When it comes to making home-buying decisions, there are significant differences between men and women, according to a recent survey by Coldwell Banker Real Estate.

"The findings in our study underscore how couples must identify each other's differences while learning the best ways to work together throughout the entire home-buying process," said Megan Burke, a spokesperson for ...

Updated: Mon Aug 31, 2009

Auctioning: a Viable Home Marketing Technique for 09/07/2009

Mon, 07 Sep 2009 00:00:00 -0700

The auctioning of homes is becoming an increasingly popular marketing technique — particularly for foreclosed properties and unique upper-tier "one of a kind" type homes that are difficult to appraise.

Last year alone, about $58.6 billion in real properties were sold at the clap of an auctioneer's gavel, according to the National Auctioneers Association. Due to this incre ...

Updated: Mon Sep 07, 2009

Shifting Trend Motivates Moves to New Communities for 09/14/2009

Mon, 14 Sep 2009 00:00:00 -0700

The improving economy is changing the mindset of home buyers. Instead of moving from one community to another because of recession-related factors, today's families are more likely to be motivated by the desire to live in a bigger and better home with more amenities.

The shifting trend was revealed in a recent survey conducted by Relocation.com. A similar survey last March indicated that ...

Updated: Mon Sep 14, 2009

New Controls on Home Mortgage Loans for 09/21/2009

Mon, 21 Sep 2009 00:00:00 -0700

"The recession is very likely over at this point," said Federal Reserve Chairman Ben Bernanke. This comment from such a credible source is very good news for today's home buyers and sellers.

However, as the housing market continues to stabilize, consumers need more protection when they apply for a home mortgage loan, whether it's to finance the purchase of a home or refinance a ...

Updated: Mon Sep 21, 2009

'House Flipping' is Reviving for 09/28/2009

Mon, 28 Sep 2009 00:00:00 -0700

"House flipping" and other real estate investor activities are reviving in popularity. Bargain priced homes and historically low mortgage rates are bringing investors out of the woods and into the active marketplace again.

In case you've forgotten, house flipping is the practice of purchasing a home with the intent of quickly reselling it for a profit.

The growing activi ...

Updated: Mon Sep 28, 2009

Frustration with FHA Appraisals for 10/05/2009

Mon, 05 Oct 2009 00:00:00 -0700

Many home sellers and buyers, who want to finance a purchase transaction with an FHA-insured mortgage, are frustrated by a lower than expected appraisal by an FHA-approved appraiser.

FHA loans — those insured by the Federal Housing Administration — are the driving force for much of today's growing volume of home sales. The low down payment requirements and low interest rates ...

Updated: Mon Oct 05, 2009

HARP Mortgages to the Rescue for 10/12/2009

Mon, 12 Oct 2009 00:00:00 -0700

A relatively unknown type of loan — the HARP mortgage — has been structured to help homeowners who are having a problem making their payments. Some are at the brink of foreclosure and losing their home.

Home Affordable Refinance Program (HARP) loans are designed to help a specific type of homeowner — those who have diligently kept their mortgage payments current and up- ...

Updated: Mon Oct 12, 2009

Short Sales Get a Boost for 10/19/2009

Mon, 19 Oct 2009 00:00:00 -0700

Home sale transactions that are categorized as "short sales" will soon become more frequent and popular. A new incentive program is planned that will make these sales more appealing to lenders, thus making them more cooperative in arranging such sales.

A short sale of a home is when the proceeds from the sale fall short of the balance owed on a mortgage loan secured by the prop ...

Updated: Mon Oct 19, 2009

Reverse Mortgages Prove More Risky for 10/26/2009

Mon, 26 Oct 2009 00:00:00 -0700

Reverse mortgages are becoming riskier for senior homeowners, due to the rising number of shady operators who are marketing these programs. The trend has prompted the National Consumer Law Center (NCLC) to issue a special report, "Subprime Revisited: How the Rise in the Reverse Mortgage Lending Industry Puts Older Homeowners at Risk."

Reverse mortgages are special loans, making ...

Updated: Mon Oct 26, 2009

Real Estate Recession Will be Over in 2010 for 11/02/2009

Mon, 02 Nov 2009 00:00:00 -0800

The real estate market will experience growth and expansion next year, according to projections from most major real estate organizations. The recession will be behind us.

That's the forecasting consensus of the National Association of Realtors, National Association of Home Builders, Mortgage Bankers Association, Fannie Mae and Freddie Mac. They are all predicting solid growth in 2010, a ...

Updated: Mon Nov 02, 2009

Manufactured Homes: a Viable Option for 11/09/2009

Mon, 09 Nov 2009 00:00:00 -0800

Individuals and families who are determined to own their own home but have very limited income often opt for a mobile home. Or they may go to the next level and purchase a manufactured home. Both of these factory-built home options are significantly less expensive than a new site-built home.

Construction costs per square foot for a new manufactured home average from 10 to 35 percent less ...

Updated: Mon Nov 09, 2009

Impact of New Home Buyers Tax Credit for 11/16/2009

Mon, 16 Nov 2009 00:00:00 -0800

Now that the extended and expanded tax credit bill for home buyers has been passed by Congress and signed by the president, more people are seriously considering buying a home or selling their residence.

A quick review of the new tax credit law:

Instead of terminating on Nov. 30, the $8,000 credit for first-time home buyers was extended to April 30, 2010. It is effective for home ...

Updated: Mon Nov 16, 2009