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- Foreclosure bailout blow up
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Lenders claim they want to help troubled mortgage borrowers stay in their homes. But the reality is that many foreclosure prevention counselors are running into lots of obstacles.
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Original Source: money.cnn.com
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24 March, 2008| housingblogs |
Comments (0) admin @ 15:39
- February Existing Home Sales
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The NAR reports that Existing Home sales were at 5.03 million (SAAR) unit rate in February. Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 2.9 percent to a seasonally adjusted annual rate of 5.03 million units in February from a pace of 4.89 million in January, but remain 23.8 percent below the 6.60 million-unit level in February 2007….
Original Source: feeds.feedburner.com/CalculatedRisk
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24 March, 2008| housingblogs |
Comments (0) @ 15:00
- A Boom Now Only Viewable In History
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The Star News reports from North Carolina. “This year’s spring house-hunting season belongs to the buyers. That’s what area real estate agents are saying. Agent Glenda Tate says she is excited about the market from the buyers’ point of view. ‘If you couldn’t afford the house in the location you liked last year, take another look at it,’ said Tate. ‘Maybe you can afford it. If you were looking for a house that cost $325,000 last year…’maybe this year I can get it for $280,000 or $290,000.’”
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Original Source: thehousingbubbleblog.com
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24 March, 2008| housingblogs |
Comments (0) @ 14:58
- The Roxbury
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Why spend just a Night at the Roxbury when you can live there? Look at this fantastic property. It comes complete with a hose on the roof, termite damage on the porch, broken concrete, a leaning sidewalk light, an empty milk bottle on the walk, and a pair of statues that looks like a man staring down a cow. At least the grass is green. You can’t beat this location. It is so close to the railroad tracks, the vibrations from the passing trains will shake the pictures off the wall, and the position at the end of a “T” intersection guarantees a strong flow of negative energy and enough flashing car lights to ensure you can’t sleep at night. As the realtor noted, it is “PERFECT FOR FIRST HOME BUYERS.” Yeah, perfect…
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Original Source: feeds.feedburner.com/IrvineHousingBlog
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24 March, 2008| housingblogs |
Comments (0) @ 12:30
- Bits Bucket And Craigslist Finds For March 24, 2008
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Please post off-topic ideas, links and Craigslist finds here.
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Original Source: thehousingbubbleblog.com
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24 March, 2008| housingblogs |
Comments (0) @ 11:39
- February home sales fall 23.8%, median price falls 8.2%
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From the National Association of Realtors:
February Existing Home Sales
National February Sales down 23.8% Year over Year (SAAR)
National February Sales down 19.4% Year over Year (NSA)
Northeast February Sales down 26.4% Year over Year (SAAR)
Northeast February Sales down 23.3% Year over Year (NSA)
National Inventory up 6% Year over Year
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Original Source: njrereport.com
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24 March, 2008| housingblogs |
Comments (0) @ 10:50
- Why it’s not too late to refinance
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Earlier this year, when mortgage rates dipped below 6% for the first time since 2005, homeowners rushed to refinance costlier loans. In fact, more than six out of 10 mortgage applications so far this year have been for refis.
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Original Source: money.cnn.com
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24 March, 2008| housingblogs |
Comments (0) admin @ 8:58
- Crack of Doom: Mission Accomplished
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Many thanks to "Rational Expectations" who sent us the following image and explanation:
The mood on Wall Street seems akin to that on the USS Abraham Lincoln soon after the invasion of Iraq. My abilities with graphics packages are not very good, but perhaps you will see the irony. Mission accomplished!!
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Original Source: housingdoom.com
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24 March, 2008| housingblogs |
Comments (0) @ 8:02
- The Fed to buy or not to buy MBS– That is the question
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There were three interesting articles recently on Bloomberg, all speculating on MBS purchases by the Federal Reserve.
First there’s the case for "Maybe they will" today:Forget lower interest rates. For the Federal Reserve to keep the financial markets from imploding it needs to buy troubled m…
Original Source: housingdoom.com
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24 March, 2008| housingblogs |
Comments (0) @ 8:01
- Thanks to Mr. Moonbeam, Those Scumbag Ponies are No More
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Here’s some excerpts from the latest press release by the California Attorney General’s office (3/18/2008):California Attorney General Edmund G. Brown Jr. today shut down Lifetime Financial, Nations Mortgage, Greenleaf Lending, Virtual Escrow, Olympic Escrow and Direct Credit Solutions, accusing the predatory lending companies of pushing homeowners into “illegal and unconscionable loans.” …
Original Source
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24 March, 2008| housingblogs |
Comments (0) @ 6:23
- [Wall Street] Dominoes To Go
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Source: Slate
Click here for full sized graphic.
Supposedly, JPMorgan in Negotiations to Raise Bear Stearns Bid
Good grief, I don’t mean to come across as so gloomy. I…
Original Source: matrix.millersamuel.com
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24 March, 2008| housingblogs |
Comments (0) @ 5:42
- JPM in Talks to Increase Bear Purchase Price
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From the NY Times: JPMorgan in Negotiations to Raise Bear Stearns Bid JPMorgan Chase was in talks on Sunday night for a deal that would quintuple its offer for Bear Stearns, the beleaguered investment bank, in an effort to pacify angry Bear shareholders, according to people involved in the negotiations. …Under the terms being discussed, JPMorgan would pay $10 a share in stock for Bear, up from its initial offer of $2 a share … The renegotiation, which would set a sale price of more than $1 billion … …
Original Source: feeds.feedburner.com/CalculatedRisk
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24 March, 2008| housingblogs |
Comments (0) @ 5:41
- [OTS] 1-4 Family Charge-Offs Rise Significantly, March Madness Continues
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The Office of Thrift Supervision (OTS) is the US Treasury department regulates the S&L industry. It was created in 1989 after the S&L crisis and is the by-product of FIRREA which also created appraiser licensing (the acronym does not stand for Finally I can be a Rich Real Estate Appraiser, that many appraisers sarcastically joked about nearly 20 years ago).
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Original Source: matrix.millersamuel.com
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24 March, 2008| housingblogs |
Comments (0) @ 5:26
- Liquidity-Adjusted Prices Measured In Days/Volume
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Ok, so it was a messy weekend of NCAA March Madness hoops but I am in 7th place, beating out my 9 year old (yes!) but losing to my 14 year old (rats).In this paper Falling House Prices and Rising Time on the Market by an economist at the San Francisco Fed. Author John Krainer comments it is fascinating how most people find falling housing prices so interesting yet stocks rise and fall every day.
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Original Source: matrix.millersamuel.com
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24 March, 2008| housingblogs |
Comments (0) @ 5:05
- Japan’s Financial Services Minister Offers Advice for U.S.
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From the Financial Times: US can learn from Japan’s crisis The US should inject public funds into its financial system, which is undergoing a worse crisis than that experienced by Japan during its non-performing loan crisis, according to Japan’s financial services minister.“It is essential [for the US] to understand that given Japan’s lesson, public fund injection [into the financial sector] is unavoidable,” Yoshimi Watanabe told the Financial Times…..
Original Source: feeds.feedburner.com/CalculatedRisk
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24 March, 2008| housingblogs |
Comments (0) @ 0:38
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