This Week in Real Estate: Heartbreaks, Shills and Modification Roundabouts

by Chicago Agent

Bank of America calling it quits with Fannie Mae was one of the week's top stories.

Did the latest Case-Shiller reach a new post-boom low? Did the loan modification debate just garner another chapter in its storied history? And OMG, did Bank of America, like, just dump Fannie Mae? We cover the week’s top real estate news (Feb. 27 – March 3) by the numbers:

1.1 – the monthly decline for the latest Case-Shiller, which covered December; falling 4.0 percent year-over-year, the much-watched index hit a new post-boom low in December and is expected to fall further in the coming months.

37.7 – the amount of money, in billions, that Bank of America serviced Fannie Mae with loans in 2011; that’s a thing of the past, though, after the bank swore off any future business with the Fannie and broke ties with the servicer.

4058 – the technical name of the Bankruptcy Equity Act, a bill that would allow judges to order principal reductions on home loans when homeowners enter bankruptcy proceedings. Though the bill has short-term potential, its long-term effects could be costly.

1.75 – the new percentage that the FHA will charge on insurance premiums for its loans; faced with its toughest finances in years, the agency is adopting new measures to boost revenues.

72.2 – the percentage of home sales in January that were less than $250,000; though housing inventories have been dropping, they may not necessarily indicate rising sales prices.

8 – the year-over-year percentage increase for NAR’s Pending Home Sales Index, which suggests only positive predicaments for home sales in the next two months.

100,000 – the number of MRED listings that will now be directly listed on Trulia, following a just-inked partnership between the two companies.

29 – the millions of dollars that Michael Jordan’s immense Highland Park mansion just listed for; a nine-bedroom, 15-bath, five-fireplace property, it also features a three-bedroom guesthouse and, naturally, a state-of-the-art basketball facility.

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