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Mortgage delinquencies tick higher in U.S.
NEW YORK — The percentage of homeowners late with mortgage payments hit another record during the last three months of 2009, and the pace at which they fell behind took a turn for the worse, a new report says. For the fourth quarter, 6.89 percent of mortgage payments were 60 or more days past due, according to credit reporting agency TransUnion. That’s up from 4.58 percent in the final three... [Read more]
Foreclosures Seen Still Hitting Prices
More waves of foreclosures will keep downward pressure on home prices in parts of the U.S. over the next several years, two new studies project. The studies—by John Burns Real Estate Consulting Inc. and Standard & Poor’s Financial Services LLC—both conclude that most efforts to modify loans with easier terms will delay, not prevent, the loss of homes to foreclosure. The Treasury Department... [Read more]
FDIC Forecasts Increased Bank Failures in 2010
Coming Soon: More Foreclosures
More than 1.7 million homeowners were verging on foreclosure this fall, making it likely that these houses will soon end up on the market one way or the other, driving down overall housing values. “We’re going to be dealing with high levels of distressed (sales) in the marketplace for at least a couple of years,” says Mark Fleming, chief economist of researcher First American CoreLogic,... [Read more]
Are Loan Mods Actually Helping Anyone?
Current data shows that 10% of borrowers in California are in default and that 73% of borrowers have negative equity. Ouch. If you are a homeowner facing foreclosure, you have a number of options available to you. Of them, the first that most borrows try is for a loan modification. On the surface of it, a loan mod seems like a good deal, but the more I think about it, the more I wonder if that is truly... [Read more]
How to Get Started as an Investor
It’s no secret that there’s plenty of money to be made in the real estate investing arena. There is, however, a rather large learning curve to get through before you start cashing those checks. Following are six tips to help your journey through the learning curve be a little less bumpy. Read full article… Read More →
What Would Happen if the Dollar Had a Strong Surge in Value?
For the last few months, I’ve been a regular reader of John Mauldin’s Weekly E-Letter and each week, John’s writing gets me thinking about important financial topics. This week is not different. In this week’s letter, John wrote about some of the potential effects of a sustained low interest rate environment. As most folks are well aware, rates have been low for some time now,... [Read more]
The Top 5 Markets to Invest in in 2010
According to a just-published report from the Urban Land Institute, the top 5 markets to invest in for 2010 are: Washington D.C. scores the highest marks during a recession. While hard-pressed lenders pull back in most cities, major insurers and big banks have taken a long term view and are actually providing financing for new deals. Bethesda, home to the National Institutes of Health, should benefit... [Read more]
Tech Savvy Agent
In my travel recently, I had the opportunity to meet the man behind the increasingly infamous “Tech Savvy Agent”, and yes, I was inspired by his moniker (which he actually encouraged me to use). The Tech Savvy Agent is focused on creating a network of Realtors around the US who are competent technologists as well as Realtors. I will be doing the same here in San Diego, so if you are a Tech... [Read more]
Delinquent Mortgages Reach Record Levels
Not too much new here, but I’d thought I’d post it anyway. The only part that I’m not so sure about is whether the worst is over. If you’ve been reading older post, you’ll see that I believe we have further downside yet; primarily driven by all the foreclosures that have yet to work there way through the system. Your comments are always welcome, TRD Daily Real Estate News |... [Read more]
