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- Housing Bill Adds Second Lien Amendment; DAPs to Be Eliminated
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The house just passed it’s $300 billion plus(that the minimum) housing bill today, with the Senate getting ready to pass on to a President Bush who will sign the bill. Here’s some of the hightlights:The Act would authorize the FHA to endorse up to $300 billion in new 30-year fixed rate mortgages for troubled subprime borrowers; the lender must, however, first write-down principal loan balances to 90 percent of current appraisal value….
Original Source: bubblemore.blogspot.com
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23 July, 2008| housingblogs |
Comments (0) @ 19:02
- Fresh Prince of Belair
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I would like to introduce everyone to our troll who calls himself the “Fresh Prince of Belair”. Many hat tips to Urban Flight for finding this guys Myspace page.Lets have a walk down memory lane at some of the comments made by “Fresh”…
Original Source: bubblemore.blogspot.com
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23 July, 2008| housingblogs |
Comments (0) @ 18:55
- How housing rescue bill can help you
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The House on Wednesday passed a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac.
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Original Source: rss.cnn.com
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23 July, 2008| housingblogs |
Comments (0) @ 18:45
- Inman: Housing Bulls vs. Bears
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I participated on a panel today on housing at the Inman Real Estate conference in San Francisco. I wasn’t the most bearish participant - that goes to John Williams of Shadow Stats - but it was definitely fun. We only barely touched on most housing subjects … Oh well. I think it’s safe to say that even the bulls were a little bearish.
Other bloggers included Yves Smith of Naked Capitalism…
Original Source:
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23 July, 2008| housingblogs |
Comments (0) @ 17:50
- Who’s the Best Realtor?
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J.D. Power, the market research firm best known for its customer satisfaction surveys of new cars, came out today with its first-ever survey of real estate agents. This has got to be a tough time to do this product launch.
The big winners were Keller Williams, which had the highest rank among home buyers. Prudential scored highest among home sellers. J.D. Power explains that it needs two winners because buyers and sellers are looking for different skills. Buyers want someone who’s available when they call, responsive to problems and helps negotiate a good deal. Sellers want someone who can market their property. Coldwell Banker and RE/MAX also scored highly.
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Original Source: www.businessweek.com
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23 July, 2008| housingblogs |
Comments (0) @ 17:48
- Who’s the Best Realtor?
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J.D. Power, the market research firm best known for its customer satisfaction surveys of new cars, came out today with its first-ever survey of real estate agents. This has got to be a tough time to do this product launch.
The big winners were Keller Williams, which had the highest rank among home buyers. Prudential scored highest among home sellers. J.D. Power explains that it needs two winners because buyers and sellers are looking for different skills. Buyers want someone who’s available when they call, responsive to problems and helps negotiate a good deal. Sellers want someone who can market their property. Coldwell Banker and RE/MAX also scored highly.
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Original Source: www.businessweek.com
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23 July, 2008| housingblogs |
Comments (0) @ 17:48
- Anti-Bailout Petition
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Karl at Tickerforum has set up a nifty petition that automatically sends an anti-bailout fax to your Senators and Representatives….
Original Source: www.creditbubblestocks.com
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23 July, 2008| housingblogs |
Comments (0) @ 16:55
- S.D. official sues to block foreclosures, wants ‘foreclosure sanctuary’
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Breaking news, from Reuters: San Diego City Attorney Michael Aguirre said Wednesday that he filed a lawsuit against Bank of America Corp. and its Countrywide unit to prevent the mortgage lenders from foreclosing on homes in his city, which he aims to make a "foreclosure sanctuary."
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Original Source: feeds.latimes.com
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23 July, 2008| housingblogs |
Comments (0) @ 16:29
- San Diego official sues to block foreclosures, wants ‘foreclosure sanctuary’
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Breaking news, from Reuters: San Diego City Attorney Michael Aguirre said Wednesday that he filed a lawsuit against Bank of America Corp. and its Countrywide unit to prevent the mortgage lenders from foreclosing on homes in his city, which he aims to make a "foreclosure sanctuary."
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Original Source: feeds.latimes.com
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23 July, 2008| housingblogs |
Comments (0) @ 16:29
- House Approves Housing Bill
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From MarketWatch: House approves housing aid, Fannie-Freddie plan
Senate is next. Bush will not veto….
Original Source:
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23 July, 2008| housingblogs |
Comments (0) @ 15:39
- Houses passes mortgage bill
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The house passed the Freddie/Fannie bailout disguised as the homeowner rescue bill today by a nearly two-to-one margin. The bill provides $300 billion in money earmarked for helping consumers in trouble with their mortgage and explictitly guarantees the debt of the GSE’s through loans an cash infusions from the government.
You can read more at CNN.com.
I’m typing this from the new WordPress app on my iPhone at the airport. There’s very little you can besides type so unfortunately I can’t put in any links but at least now you know (like you hadn’t heard already…)
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23 July, 2008| housingblogs |
Comments (0) @ 15:29
- San Diego Sues BofA over Foreclosures
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From Reuters: San Diego sues Bank of America over foreclosuresSan Diego City Attorney Michael Aguirre said on Wednesday he had filed a lawsuit against Bank of America … and its Countrywide unit to prevent the mortgage lenders from foreclosing on homes in his city, which he aims to make a "foreclosure sanctuary."Oh my …
Note: I’m at the Inman Real Estate conference in San Francisco. I’ll…
Original Source:
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23 July, 2008| housingblogs |
Comments (0) @ 14:39
- The Rational Thing To Do In California
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The San Francisco Chronicle reports from California. “In the Bay Area, mortgage companies recorded 18,516 notices of default, up more than 140 percent from a year ago. Foreclosures rose nearly 315 percent to 9,206. As the slowing economy made it more difficult for Carlos Amaya to find regular work as a truck driver, the Amayas fell behind on their payments. The couple remains several payments behind.”
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Original Source: thehousingbubbleblog.com
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23 July, 2008| housingblogs |
Comments (0) @ 14:35
- "Perverse, relentless, untouchable" — Fannie and Freddie
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As your Congress rushes to write a blank check for government aid to Fannie Mae and Freddie Mac, this caught my eye: Paul Gigot’s withering criticism of o…
Original Source: feeds.latimes.com
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23 July, 2008| housingblogs |
Comments (0) @ 13:54
- Lab fetes pyramid scheme
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Cold Spring Harbor Laboratory celebrated the topping of its new $100 million Hillside Campus complex Tuesday.
A 5,000-pound stainless steel pyramid was lifted by crane and secured to its new home atop an 85-foot ventilation tower of the six-building, 100,000-square-foot campus.
Fifteen new faculty and 200 employees will conduct research on cancer, autism and schizophrenia at Hillside, which when completed will increase research space at the lab by about 40 percent, according to a lab statement.
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Original Source: spacedoutli.wordpress.com
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23 July, 2008| housingblogs |
Comments (0) @ 12:54
- Are Portland Home Sellers Getting the Hint?
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A reader of the blog pointed this listing out to me:$80,000 price drop!! Amazing deal at this price for a one-of-a-kind home with tons of potential in a fantastic neighborhood. Entire top floor is huge master suite with deck and view. Daylight basement with own entrance and 1/2 bath would be perfect work space/studio/convert back to garage/etc. One year home warranty. Near Hillsdale shops, Mult.Village, Gabriel Park, OHSU……
Original Source:
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23 July, 2008| housingblogs |
Comments (0) @ 12:47
- Life’s Been Good
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Life’s Been Good — Joe Walsh
I nominate today’s featured song as the ode to The Great Housing Bubble. If you drank the kool aid, I mean really drank the kool aid (like today’s owner), life must have been very good. All this free money allowing you to do whatever you want whenever you want. Life must have been very good to those who lived off their houses. There is nothing wrong with living well, and there is nothing wrong with becoming accustomed to a certain style of life, it just isn’t very wise to build this life on an unsustainable foundation of Ponzi Scheme financing — it will collapse, and you will lose the life to which you have become accustomed.
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23 July, 2008| housingblogs |
Comments (0) @ 12:30
- A rise in mortgage rates
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Worth noting: The recent concern over the health of Fannie Mae and Freddie Mac has pushed mortgage rates higher.
From today’s New York Times: "The average interest rate for 30-year fixed-rate mortgages rose to 6.71
percent on Tuesday, from 6.44 percent on Friday, according to HSH
Associates, a publisher of consumer rates. The average rate for
so-called jumbo loans, which cannot be sold to Fannie Mae and Freddie
Mac, was 7.8 percent, the highest since December 2000.
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Original Source: feeds.latimes.com
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23 July, 2008| housingblogs |
Comments (0) @ 12:28
- How the housing rescue bill can help you
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The House is expected on Wednesday to pass a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac.
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Original Source: rss.cnn.com
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23 July, 2008| housingblogs |
Comments (0) @ 12:19
- Anemic Second Quarter Home Sales
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A reader suggested that a good way to visualize the current state of the local housing market would be to look at quarterly home sales. Here’s a chart of the total closed SFH sales in King County for every quarter we have data for from the NWMLS, back through 2000:
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23 July, 2008| housingblogs |
Comments (0) @ 11:38
