The stats are out for October and the closed transactions for the month were strong.  I’ve asked around about the impact of the First Time home buyer tax credit, but no one tracks this data.  Not the MLS and not our brokerage.  From our experience we know of no one using this tax credit w ... Read more

From Fannie Mae: Fannie Mae Announces Deed for Lease™ Program Fannie Mae (NYSE:FNM) is implementing the Deed for Lease™ Program under which qualifying homeowners facing foreclosure will be able to remain in their homes by signing a lease in connection with the voluntary transfer of the property ... Read more

We started the year looking for two key construction spending stories: a likely bottom for residential construction spending, and the collapse in private non-residential construction. This report shows further evidence of both stories. Click on graph for larger image in new window. The ... Read more

Phoenix Real Estate Year-Over-Year Sales Increase For Seventh Straight Month - As foreclosed home sales fall, year-over-year home sales in Phoenix have continued to climb for seven straight months. An increase in regular home sales continues to raise the median home purchase price in the area. ... Read more

We are seeing more discretionary sellers with significant equity trying to exit the market. Is this the beginning of capitulation? Asking Price: $329,900 Address: 1306 Terra Bella Irvine, CA 92602 There’re secrets in this life That I can’t hide ... Read the full post ... Read more

Owning a home is the American pain. I mean dream. Wait, no. I mean pain. Don't get me wrong. The hubby and I have been homeowners most of our married life. We bought a small condo in suburban Maryland soon after we were married and over the year bought and sold four other homes. We loved ... ... Read more

A True Tree House Here is the real issue with foreclosures and sellers. When those properties close they go into the pool of closed transactions which are used by appraisers to arrive at current market value. As each of those foreclosures sell they are no longer your competition. They have n ... Read more

The Census Bureau reports New Home Sales in May were at a seasonally adjusted annual rate (SAAR) of 342 thousand. This is essentially the same as the revised rate of 344 thousand in April. Click on graph for larger image in new window. The first graph shows monthly new home sales (NS ... R ... Read more

I'm back from my civic duty, and starting to read the newly released details of the Mortgage Modification Plan. The second mortgage sections are interesting. This first reference to 2nd liens seems to be part of Home Affordable Refinance Program (Part I of the plan). From the Making Home Affordabl ... Read more

they just get recycled on the WSJ opinion page. R. Glenn Hubbard and Christopher Mayer are back again: Low-Interest Mortgages Are the Answer. Here was my response to their previous proposal . I found this sentence interesting: "While fundamental factors clearly played a role in driving ... Read more