HousingWire reports the House Appropriations Committee has voted to slash funding for the new Consumer Financial Protection Bureau (CFPB) from the Federal Reserve’s requirement of $500 million to $200 million. Under the Dodd-Frank Act the agency can request another $200 million. Funded by the Federal Reserve, the CFPB will control …
Realtor Magazine, the official publication of the National Association of Realtors (NAR), reports Patrick Phillips, CEO (Chief Executive Officer) of Urban Land Institute, says the nation’s population is expected to grow by 150 million over the next 40 years. Speaking at a NAR event, he says the trend is to …
The Bastrop Daily Enterprise of Bastrop, Louisiana, published the residential inspection fees for Morehouse Parish, and noted they are similar to other parishes. The Morehouse Parish Police Jury hired the Institute for Building Technology and Safety (IBTS), a non-profit, to do residential and commercial inspections. IBTS services nearby parishes as …
Inspection Fees Posted for New MH and Modular Construction Read More
LinkedIn reports from Realty Trac that notices for mortgage payment defaults fell to their lowest level in five years. Foreclosure filings fell 33 percent from May a year ago, and bank repossessions are down nearly 30 percent from May 2012. Banks are expected to repossess 20 percent fewer homes this …
Good Signs for the Housing Recovery—but Good Enough? Read More
Mother Nature Network reports that Zero Energy Technology and Architecture (ZETA) of San Francisco is building Tierra del Sol, a net-zero energy community of 22 modular homes in Stockton, California. Each 1,268 square foot home is designed to save the residents $2,000 annually on utility expenses. A project funded jointly …
HousingWire reports RealtyTrac’s senior vice president says he does not expect a full recovery of the housing market until 2015. Rick Sharga, speaking at HousingWire‘s REO (Real Estate Owned) Expo in Fort Worth, Texas, says 2010 saw 2.9 million foreclosure filings, the most ever. There were 550,000 foreclosure filings in …
According to a recent survey for the National Association of Home Builders (NAHB), of 2000 likely voters in the 2012 elections, 73 percent of owner and renter respondents believe the government should provide tax incentives to encourage home ownership. Over seven of ten voters oppose eliminating the mortgage interest deduction …
The Coeur d’Alene Press in Coeur d’Alene, Idaho, says since the tax credits for homebuyers expired in September 2010, the housing market from manufactured homes to waterfront properties has slowed. Compared to a year ago, home sales are down 8.4 percent, total dollar volume has fallen 11.8 percent, average sale …
Idaho Housing Market Down, but State Offers Incentive Read More
The Chelan Real Estate Blog says a speech by Dr. Mark Dotzour, Chief Economist of the Texas Real Estate Center and keynote speaker at the Manufactured Housing Institute’s (MHI) Congress in April, states the economy has yet to hit bottom. He says the extensive government intervention has prevented the economy …
Real Estate Economist Lashes Out at Federal Programs Read More
The Clark Fork Chronicle reports from Montana the Department of Commerce’s HOME Investment Partnership (CHIP) program is helping six low-income residents buy new manufactured homes in St. Regis, MT. The Mineral County Commissioners approved a grant submitted five years ago by District XI of the state’s Human Resources Council (HRC) …
Program Helps Homebuyers Purchase Manufactured Housing Read More
The auction of manufactured homes in Bourbonnais, Illinois drew attendees from states as diverse as PA, TX, LA and MS, as well as from IL, MI and IN. A source at the auction told MHMSM.com that the auction was well organized, and drew sums within 30% of original factory cost. …
Realtor Mag, the National Association of Realtors (NAR) publication, says Harvard University’s Joint Center for Housing Studies, in its latest annual “State of the Nation’s Housing” summary, cites population growth and shifting demand driving the need for more homes. Household growth averaged 1.2 million each year from 2000-2007, then dropped …
Harvard Study Asserts 16 Million New Homes Needed in Ten Years Read More
WGRZ2 reports from Cheektowaga, New York, just outside Buffalo, that two modular homes built by seniors from area high schools will be auctioned off, and the proceeds will buy supplies for next year’s students to build homes. Thirty students, all interested in working in the home building field, spent two …
High School Seniors Learn Modular Home Construction Read More
Yahoo! Finance reports that mortgage rates have dropped for an eighth consecutive week. Freddie Mac says the average rate on a 30-year fixed mortgage dropped to 4.49 percent from 4.55 percent the previous week, and the 15-year mortgage fell from 3.74 percent to 3.68 percent, and both are at year’s …
Housing and Urban Development Secretary Shaun Donovan announced that specific counties in Illinois, Oklahoma and Minnesota have been declared disaster areas by President Obama. Homeowners and low-income renters who were forced from their homes during the storms and flooding last month in Oklahoma and Minnesota, and in Illinois in April, …
East Atlanta Patch in Georgia says Resources for Residents and Communities (RRC) is a 501(c)(3) non-profit that offers free workshops on everything necessary to know about buying and maintaining a home, including foreclosure. There is a nominal $30 charge for the one-day event, but that includes individual counseling if necessary. …
Altos Research says the housing market is undergoing ‘The Catfish Recovery,” meaning housing prices will stabilize near the bottom, and stay there awhile, much like a catfish is a bottom feeder swimming around somewhat randomly, yet sustained. In noting the relative constancy of the median price of housing over time, …
A survey commissioned by the National Association of Home Builders (NAHB) of 2,000 people likely to vote in 2012 revealed that owning a home is a core value. Ninety-five percent of the homeowners surveyed said they are happy with their decision to own a home. Celinda Lake, president of Lake …
Mortgage News Daily says the federal government is extending the feedback deadline on the five percent risk retention provision of the Dodd-Frank Wall Street Reform and Consumer protection Act (Dodd-Frank) to allow for more public comment. The new deadline is Aug. 1, 2011. Meanwhile, Fannie Mae is requiring mortgage servicers …
Risk Retention Comment Deadline Moved; Fannie and Freddie Changes Read More
HousingWire reports for Q1 2011, CoreLogic has determined that 40 percent of borrowers who owe more than their homes are worth, termed ‘underwater’, had taken out home equity loans for additional funds. The number of underwater loans in Q-4 2010 fell 200,000 to 10.9 million, representing 22.75 percent of all …
Miniscule Improvements in Housing Recovery Statistics Read More
