Category — Real Estate News
A 19th-Century Victorian, With a View
via The Wall Street Journal
According to the owners, this San Francisco Bay Area home was built around 1882.
The couple who owns the home has spent over 30 years trying to maintain the home, which boasts some original Victorian architectural aspects as well as a breathtaking view of Sonoma Mountain. The property also has pomegranate trees, wrought iron gates at its entrance, and a wraparound porch reminiscent of a Midwestern farmhouse....
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January 12, 2012 No Comments
People Are Buying Homes…AND Getting Mortgages
Many believe that very few houses are selling and that almost no one can get a mortgage. We want to let everyone know that neither of these assumptions is true. Recently, the National Association of Realtors (NAR) released their Existing Homes Sales Report. According to the report there are, on average, 12,109 homes selling in the United States EACH and EVERY DAY! That means that approximately 12,000 houses sold yesterday, approximately 12,000 will sell today and approximately 12,000 will sell t...
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January 12, 2012 2 Comments
Real Estate: Why Home Prices Won’t Bottom Out
John Wasik, via Yahoo Finance Watching the U.S. home market struggle to rebound is like listening to children in the back of a car. No, we're not there yet. The National Association of Realtors reported that ten real estate markets are "leading the nation toward a general recovery and stability of the housing sector," but myriad problems are going to weigh down the housing market for months to come. The lingering malaise in the economy has triggered a new wave of defaults and forecl...
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December 20, 2011 3 Comments
The Feds’ Mortgage-Complaint Window is Now Open
Kenneth R. Harney, Seattle Times Got a beef with your mortgage lender? Is your bank unresponsive when you complain that your escrow account is fouled up and making your monthly payments needlessly high? Did your loan officer bait-and-switch you into a more costly home loan than originally promised? Or worse yet: Did your loan servicer ignore you when you told him you've had an unexpected drop in income and needed a modification to avoid missing payments? If any of this sounds familiar, here's...
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December 12, 2011 1 Comment
Not Every Real Estate Market Is Struggling
In the Obama years, home values lagged throughout the U.S., with a few exceptions. Venessa Wong via Business Week Want to know how bad the real estate market is? Just drive down almost any street in the U.S. and you’re likely to see “for sale” signs lining the road. Come back a month later, it’s a good bet the same signs are still there—and quite possibly a few new ones, too. But while there’s a lot of housing pain, there’s also some good news. That’s because in some markets ac...
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November 22, 2011 No Comments
Re-Stringing the Housing HARP
David Reilly, Wall Street Journal The government's latest move to bolster housing marks yet another transfer from savers to borrowers. Such transfers have been the norm since the Federal Reserve instituted its zero-interest-rate policy in late 2008—shifting funds away from the likes of depositors, bondholders and pension funds to debtors. The latest iteration came Monday, when the Federal Housing Finance Agency unveiled changes to a program meant to make it easier for underwater homeowners w...
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October 25, 2011 No Comments
Lake Erie “Mod Pod” Listed for $19.5M; Was Drop Ceiling Inventor’s Shangri-la
Laura Vecsey, Zillow Dobermans released every two hours to patrol the property. Underground streets lined with a restaurant, bars and a barber shop. A private beach and marina sculpted into the shores of Lake Erie. Helicopter pad. Rotating garage floor made of marble so no one had to back out that rare Ducati. These are just a few of the unique features found in the Waterwood Estate, a fascinating Ohio property owned by the late Don Brown, an inventor who gave the world the drop ceiling. “I...
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October 24, 2011 1 Comment
Quiz: Am I Ready to Buy?
Carla Hill, Yahoo Real Estate There are lots of eager would-be buyers out there. It's no wonder why! The market currently offers many ideal buying conditions. Interest rates are still at historic lows (for those with excellent credit). Home prices are extremely affordable when compared to area median incomes. There is a large supply of homes available in most markets (more homes to choose from and buyer advantage at negotiations). Yet, the questions remains. Are you ready to buy? Take a moment...
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October 18, 2011 No Comments
Persevere, Don’t Abandon Your Dream
PJ Wade, Yahoo Real Estate Are you letting global uncertainty extinguish your real estate dreams without full consideration because money is an issue? Sometimes balancing livable compromises against researched options can help you achieve more than you may have believed possible. Your future should not be entirely defined by what is affordable. When it comes to where you'll live and how, concentrating on finances alone may short-change you in the long run. One long-time reader is living proof...
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October 18, 2011 No Comments
Something Great for the Kiddies!
Level Architects: House with Slide[s] via Design Boom 'house with slide' by level architects | all images courtesy level architects Yokohoma-based atelier level architects has completed 'house with slide', a three-story family residence that features a continuous circulation route that utilizes both stairs and the playground equipment. Circumscribing the volume of the house, the playful layout places the living spaces at the core of the house with a number of access points along the...
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October 18, 2011 No Comments
Go Green–with Architecture
David Lachapelle, Design Boom Natural Architecture The natural environment still manages to fill us with a sense of awe and amazement. despite the amount of scientific knowledge mankind has gathered, nature still holds great mysteries that we may never be able to unravel. this complexity has continually daunted man. in frustration, we try to control nature by enforcing order. as a result, we have distanced ourselves from the earth, even though our survival is comp...
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October 18, 2011 No Comments
Homes of the Future!
A Look Ahead at New Homes of 2015 By Erika Riggs, Zillow If you had asked someone in the 1960s what the home of 2015 would look like, chances are they imagined something akin to The Jetsons’ home complete with Rosie the Robot and other space-age appliances that dressed and fed the family. But, rather than space-age technology, the biggest thing that is expected to change in future single-family homes is the size. “Homes will get smaller,” says Stephen Melman, Director of Economic Servi...
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October 13, 2011 No Comments
Buying Distressed Properties
By Matt Sailor, How Stuff Works After huge upheavals in the housing market throughout the 2000s, the market showed signs of leveling off by late 2010 and early 2011. Still, despite hopeful economic indicators, as of 2011 a full third of all houses on the market were distressed properties -- those whose owners have defaulted or are about to default on their mortgages [source:Gibbs]. Largely because of desperation on the part of the owners of these properties, and their lenders, distressed homes ...
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October 13, 2011 No Comments
Questions to Ask
75 Questions To Ask Before Renting An Apartment by Alvin, All-Swagga Locating an apartment can be a chore. If you know exactly what you want you’ll have to ask questions to ensure you get it. Here are 75 questions/tips to get you moving in the right direction. How much will rent increase each year? Have breaking and entering ever been reported for one of your units? What are my options for paying the rent ex. check, cash, money order, credit card etc.? Do you have ...
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October 6, 2011 No Comments
Is Manhattan Losing its ‘Chic-ness’??
'Boring' Sales Pace Is Solace for Manhattan Apartments by JOSH BARBANEL, WSJ Despite abundant economic uncertainty, the Manhattan co-op and condo sales have achieved a rare state of being during the third quarter: stable and boring. "Slow and steady as we predicted and hoped," said Diane Ramirez, the president of Halstead Property. "I am thrilled." Dottie Herman, the president of Prudential Douglas Elliman, pronounced the market boring. "No news is good news—someti...
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October 5, 2011 No Comments
Re-furbished Real Estate
Million Dollar Home Conversions By Colleen Kane , CNBC.com via Yahoo! Real Estate News October 3, 2011 Even the most humble of structures can be transformed into a striking home. Photo: historic photo (left) | realtor.com (right) To homebuyers who have a strong vision and the means to see it through, an abandoned utilitarian structure can become a stunning antidote to the common McMansion. Changes in technology, industry, and occupations have resulted in a decrease of barns, stables, an...
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October 5, 2011 No Comments
20 Ways to Add Curb Appeal
-Better Homes and Gardens If your home's curb appeal makes a great first impression, everyone -- including potential homebuyers -- will want to see what's inside. Check out these simple, low-cost improvements that you can do in a day, a week, or a month. In a Day Create perfect symmetry Symmetry is not only pleasing to the eye, it's also the simplest to arrange. Symmetrical compositions of light fixtures and front-door accents create welcoming entryways. This door is flanked by two side...
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September 12, 2011 No Comments
The top 5 home sales in the D.C. area so far this year
-Yahoo! News Now that summer is winding to a close, the real estate market is starting to slow down. The mad rush of the spring selling season has faded into memory, and real estate agents can start to see their families on Sundays again. It seems as good a time as any to take a look at the most expensive transactions that have taken place this year. So here we present our best stab at the five priciest home sales in the area, with separate lists for Maryland, Virginia, and D.C. transactions be...
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August 16, 2011 No Comments
Should You Buy a Fixer-Upper?
-Credit Sesame Home prices may be down to where they were in 2002 and interest rates at their lowest in 2011, at an average 4.39% for a 30-year fixed mortgage. But for many who make the jump into home ownership for the first time, properties in triple-mint condition with pruned yards and top-of-the-line appliances are still too pricey. So many first-time home buyers look to so-called fixer-uppers. A home that costs less than one in move-in condition and would require extensive renovations or ...
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August 5, 2011 No Comments
Should You Buy a Fixer-Upper?
-Credit Sesame Home prices may be down to where they were in 2002 and interest rates at their lowest in 2011, at an average 4.39% for a 30-year fixed mortgage. But for many who make the jump into home ownership for the first time, properties in triple-mint condition with pruned yards and top-of-the-line appliances are still too pricey. So many first-time home buyers look to so-called fixer-uppers. A home that costs less than one in move-in condition and would require extensive renovations or ...
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August 5, 2011 No Comments
FHFA house prices down 6.3% from one year ago
-Housingwire House prices on the Federal Housing Finance Agency index dropped 6.3% in May from one year ago. The FHFA calculates its monthly index from the purchase prices of homes backing mortgages sold or guaranteed by Fannie Mae and Freddie Mac. Prices did rise 0.4% from the month before. Both the yearly drop and the monthly increase nearly mirrored the Radar Logic index released Thursday as well. The FHFA reported house prices remained 19.6% below the peak in April 2007. The steepest mon...
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July 22, 2011 No Comments
Mystery Mansion Rises in the Ozarks
-Yahoo! You’ve probably heard of the 56,000-square foot Spelling Manor that just sold to billionaire heiress Petra Ecclestone or the 43,000 square-foot Fair Field estate belonging to billionaire industrialist Ira Rennert. You may even be familiar with the palatial pads that some real estate developers have built in the hopes of finding wealthy buyers like Alpine, N.J.’s $68 million Stone Mansion or England’s Updown Court (which now faces foreclosure). Here’s another huge home to put o...
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July 21, 2011 No Comments
Conflicts in federal programs leave underwater homeowners adrift
-Housingwire Government programs aimed at refinancing mortgages for homeowners in negative equity are plagued with disappointing results, long-shot legislation and growing conflicts among regulatory agencies. As of May, 2.1 million mortgages sat somewhere in the foreclosure process, according to Lender Processing Services. Of those delinquent home loans, 80% were in negative equity, meaning the borrower owed more on the mortgage than the property is worth. Of the seriously delinquent loans th...
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July 20, 2011 No Comments
9 Items Homebuyers Desire in 2011
-Real Estate News Today's homebuyers want it all. Some items on the shopping list: a home in great condition with rooms that can do double duty. Areas that mingle indoor and outdoor living -- patios, porches, decks and outdoor rooms -- are always a plus. And so are those features that offer a little luxury, like garden tubs, first-rate appliances and high-dollar countertops. They're also going back to basics: searching for solid, well-maintained properties that will give them their money's ...
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July 5, 2011 No Comments
An Anomaly Within the Housing Numbers: Washington D.C.
An Anomaly Within the Housing Numbers: Washington D.C.
By: Carrie Bay 06/13/2011
The nation’s Capitol stands out as the “shining star” in nearly every market report that crosses the wire.
Washington, D.C. has consistently defied the recent declines in home prices. The latest S&P Case-Shiller index upheld D.C. as the only city where home prices are increasing on both a monthly and annual basis. That coincided with an official “double dip” in home prices at the national le...
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June 29, 2011 No Comments
The Post-Foreclosure Wait
-New York Times Mortgage troubles won’t necessarily shut you out of the housing market forever. As the economy and real estate market continue to struggle, millions of Americans have lost their homes through foreclosure, short sale (when a property is sold for less than is owed) or a deed in lieu of foreclosure (when the bank takes ownership without foreclosure). Even if you think you never want to own a home again, clean credit is important. Bad credit can make it more expensive to rent. ...
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June 27, 2011 No Comments
How luxury home icon lost his fortune
-The Orange County Register
If all goes as scheduled, luxury home icon John McMonigle will lose his offices on Wednesday. Thirteen days later, his pet project of the past eight years, the Villa del Lago estate, goes on the auction block.
In the 22 years since the Oklahoma native came to O.C., he has risen from humble beginnings to top luxury home salesman in the county. Now he’s in bankruptcy court seeking protection from about $50 million in unpaid debts.
Here are highlights of his c...
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June 14, 2011 No Comments
Foreclosures down for 7th straight month
-CNN Money
The number of foreclosure filings issued in April plunged 34% from a year ago — the seventh straight month of declines.
And there were just 69,532 homes repossessed last month, a 32% fall from the peak last September just before the eruption of the "robo-signing" scandal, in which banks were found to be mishandling the foreclosure process.
Will the seeming good news continue? No way, said Rick Sharga of RealtyTrac, which issued the latest monthly figures on Thursday.
Eve...
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June 14, 2011 No Comments
Foreclosures Trapped by a Lack of Lawyers
-Wall Street Journal
Moves by banks to ditch law firms snared in the "robo-signing" mess are spreading delays and confusion to borrowers, while angering judges grappling with thousands of foreclosure cases now trapped in limbo.
The trouble began when U.S. banks and government-owned mortgage giants lost confidence in some law firms that handled a huge volume of foreclosures. After controversy erupted last fall over the shoddy review of loan documents known as robo-signing, banks dropped som...
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June 14, 2011 No Comments
Regulators Set New Rules for Foreclosure Practices
-BuilderOnline.com
Banks displayed “critical weaknesses” in foreclosure processes, resulting “in unsafe and unsound practices and violations of applicable federal and state law and requirements,” according to a report released Wednesday by federal regulators regarding foreclosure practices among major mortgage servicers. The report was conducted by the Office of the Comptroller of the Currency, the Federal Reserve, and the Office of Thrift Supervision, and is separate from the investi...
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June 14, 2011 No Comments
Hard-Pressed Homeowners Facing Another Financial Threat
By NGOC NGUYEN –The New York Times
Estrella Bryant was at risk of losing her San Francisco town house last year.
Ms. Bryant, 70, had not fallen behind on her mortgage payments. Instead, she owed $560 in dues to the Parkview Heights Homeowners Association. The association turned over the case to a collection agency and threatened to foreclose unless Ms. Bryant paid off her debt, which increased tenfold because of fees and interest.
“It’s been a nightmare,” said Ms. Bryant, a Fili...
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June 14, 2011 No Comments
Banks Get Failing Grade in Foreclosure Handling
-RealtorMag
Banks continue to receive backlash for their handling of a flood of foreclosures across the country. A new report released this week by federal regulators finds that banks failed to do a good job in handling foreclosures and sometimes evicted home owners when they clearly should not have.
The problems were “significant and pervasive” and added up to “a pattern of misconduct and negligence,” according to the Federal Reserve. The Fed says it soon plans to announce monetary ...
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June 14, 2011 No Comments
