The National Association of Home Builders (NAHB) says its 55+ Housing Market Index indicates that the expectation for single-family homes construction remains low. This quarterly report by the NAHB Economics and Housing Policy Group says people who may want to live in a smaller home cannot sell the larger one …
Survey Says Single-family Building Stalled, Multi-Family Building Expanding Read More
Following President Obama’s disaster declaration for specific counties in Tennessee and Missouri, Department of Housing and Urban Development (HUD) Secretary Shaun Donovan has offered speedy government assistance to people in those jurisdictions ravaged by the tornadoes last month, specifically to home-owners and low-income renters. The provisions include diversion of Community …
Federal Government Offering Rebuilding Assistance Following Tornadoes Read More
According to Bloomberg, Zillow, Inc. reports that the number of homes with negative equity increased from 22 percent a year ago to 28 percent Q1 2011. There were 16.2 million homes worth less than the amount owed, compared to 13.1 homes in that situation one year ago. Home prices dropped …
The National Association of Home Builders (NAHB) reports that Rep. Gary Miller (R-Calif.), and Rep. Brad Miller (D-N.C.) introduced HR 1755 to ease restrictions on credit available to home builders as a means to kick start home building activity. NAHB estimates three million jobs and $145 million in wages have …
Home Construction May Return with Congressional Assistance Read More
HousingWire reports mortgage rates fell to a five-month low last week amid news of more unemployment claims filed, and as higher gasoline prices ate up more consumer spending, according to Bankrate. Freddie Mac says the 30-year fixed rate mortgage (FRM) dropped to 4.71 percent, well below the five percent rate …
Mortgage Rates Fall Again Reflecting Investors Fears Read More
Bloomberg reports that Lewis Ranieri says banks should offer debt-for-equity trades with homeowners facing foreclosure, or who owe more than their property is worth. The head of investment group Ranieri Partners LLC, he said many people of modest means were coached into putting down less than 10 percent on a …
Mortgage Broker Offers Solution to Avoid Foreclosure Read More
Housing Wire reports a Mortgage Bankers Association (MBA) official predicts the 4.5 million distressed properties on the market will prevent a full housing market recovery for four to five years. Michael Fratantoni, vice-president of economics and market research, says some areas may experience recovery sooner, like Washington, D.C. and Texas. …
Fox Business interviewed Warren Buffett, of Berkshire-Hathaway, and Kevin Clayton, CEO of Clayton Homes. Buffett remarked that it is good new housing has not gotten better because of the excess inventory of housing. He says when new home construction returns, employment will improve more than many people think. Kevin Clayton …
Housing Wire reports that Fannie Mae and Freddie Mac have been ordered by the Federal Housing Finance Agency (FHFA) to synchronize their methods of dealing with delinquent mortgages, requiring the mortgage servicer to begin engaging the borrower as soon as they become delinquent. The foreclosure process cannot begin if both …
New Guidelines to Direct Fannie and Freddie Servicers Read More
At the Manufactured Housing Institute’s 2011 Congress & Expo in Tulsa OK, Robin Crow, musician, author, and developer of Dark Horse Recording Studios, said regardless of what business you are in, creating an environment for employees and customers to make them feel better is the most important thing you can …
Keynote Speaker at MHI Congress Offers Success Tips Read More
Northern Nevada Business News reports the sale of new site-built and manufactured homes in mile-high Elko, Nevada, is up for the first quarter of the year over last year. Real estate agents sold 21 in the first quarter of 2011, 15 percent more than last year, and at an average …
The National Association of Home Builders (NAHB) reports sales of new single-family homes rose 11.1 percent in March to a seasonally-adjusted rate of 300,000 units, but the pace of new home sales was similar to the last six months of 2010. NAHB Chief Economist David Crowe said, “A limiting factor …
The Sun Journal reports Dana Connors, President of the Maine Sate Chamber of Commerce, saying that manufactured housing is no longer second best. He was speaking at the kickoff for the Oxford Hills Home Show in Oxford, Maine, April 15-17. Mary Anna Palmer of Alternative Modular Homes in Oxford wrote …
CNNMoney says although existing home sales increased 3.7 percent in March over February, sales were down 6.3 percent from March 2010. Compared to a year ago, the median home price fell 5.9 percent. New home construction permits increased slightly in March, but according to the National Association of Realtors (NAR), …
Bloomberg News reports a new survey says the number of people who think a new home is a safe investment dropped from 83 percent in 2003 to 64 percent at the end of last year. The National Association of Realtors says historically homes have been a safer investment than equities, …
Home Ownership Confidence Shaken by Housing Crisis Read More
The National Association of Home Builders(NAHB)/Wells Fargo Housing Market Index (HMI) released a report saying builder confidence slipped in April one point to 16. Now in its 20h year, the HMI comes from builders’ projections for the next six months based on inquiries and traffic. A score over 50 indicates …
The Daily Oklahoman reports the 2011 Great Southwest Home Show (GSWHS) in Tulsa, Oklahoma, begins Thursday, April 28, at 9 AM, open to the trade until 1 PM Friday. At 3 PM Friday, April 29, the doors will swing open to the public for FREE, through Saturday and Sunday. The …
Tulsa OK Trade Show Will Welcome Home Buyers April 29-May 1 Read More
HousingWire says according to Standard & Poor’s, the new risk retention rule will produce more stable mortgages in the long run, but the immediate effect will continue to suppress the housing market. Federal regulators are proposing banks maintain a five percent risk in all loans that do not meet the …
New Risk Retention Rule Could Prolong Housing Agony Read More
NewYorkDailyNews says the Nehemiah housing program, shepherded by the East Brooklyn Congregations, is behind the development of 2,219 modular housing units being constructed in East New York, Brooklyn. In partnership with the city and developer The Related Companies LP, the affordable housing is part of a working and middle-class community …
Partnership Behind Modular Housing Project in Brooklyn Read More
HousingWire says that Fannie Mae is trying to draw buyers to its HomePath properties by offering a 3.5 percent credit towards closing costs. These homes were obtained through foreclosure or forfeiture and are sold mostly “as is.” It must be a primary residence for the new owner, as these are …
GSE Offers Incentive to Purchase Distressed Properties Read More
