National News

Housing Advocates Step Up Lobbying for Loan Limits

The National Association of Realtors (NAR), Mortgage Bankers Association and the National Association of Home Builders have stepped up their lobbying efforts to Congress in recent weeks to fight the planned expiration of the federal loan limit size increase

Bankers Ask Govt. to Pull Funds Out of HUD Mud

Representatives from both the Mortgage Bankers Association (MBA) and the Department of Housing and Urban Development (HUD) are asking the government to renew an $88 million fund for HUD non-profit counseling that was cut in recent budget negotiations. “This

New Homes Sales Better than Predicted

Newly-released data from the Census Bureau shows that though new home sales continued their sideways trend, declines were slight and above both analyst predictions and year-over-year sales. August 2011 sales were at 295,000, a 2.3 percent decline from July

38 Percent of Listings in the MLS Have Only One Photo

This is an interesting yet shocking statistic: LeapRE found that a whopping 38 percent of listings in the MLS only have one photo that show the property. Yes, 38 percent – not quite almost half of all listings –

Analysts Shill Predictions for Tuesday’s Case Report

Predictions from analysts and fellow indexes alike point to a positive showing on Tuesday from the Case-Shiller, the influential report from Standard & Poor’s that charts housing prices, though long-term analysis remains complicated. MacroMarkets, a financial tech company based

Nonprofits the Absent Component in REO Sales

According to a noted nonprofit in Berkeley, Calif., nonprofits should not only play a key role in any government plan for REOS, but should also ensure that REOs effectively help the entire community. The government’s catalog of REOs is

Are Local Banks the Answer?

Local banks, the small-scale, community-based financial institutions that seemingly avoided the financial crisis, could be the answer to the current housing blues, according to National Association of Realtors President Ron Phipps – though there may be some caveats that

Fed Invites Housing to Do the “Twist”

The Federal Reserve announced yesterday that it will begin a new round of stimulus to jumpstart the U.S. economy, with housing and refinancing being two main beneficiaries of the stimulus’ goal. The Fed’s plan, officially called “Operation Twist,” is

Lenders E-xpectant for E-Mortgages

A new survey by Xerox on real estate and technology yielded interesting data about the industry, particularly for the e-mortgage market. Sixty-three percent of the lenders surveyed by Xerox used paperless mortgage software in 2011, an increase of 14

Foundational Data Signals Future Positives for Construction

Two construction-related statistics – building permits and the architecture billings index – made gains in August, a positive indication that the more foundational elements of construction may be improving. Building permits were up by almost 20 thousand from July,

After Weeks of HARPing, FHFA Director Offers Some Clarity

After weeks of speculation and debate, the Federal Housing Finance Agency’s (FHFA) Acting Director, Edward DeMarco, has finally offered some specifics on a possible revamp of the agency’s Home Affordable Refinance Program (HARP). Speaking at the American Mortgage Conference

Existing-Home Sales Rise Above Market Forces

Existing home sales exceeded expectations in August, growing at a seasonally-adjusted monthly rate of 7.7 percent  and year-over-year rate of 18.6 percent. Existing homes include single family, town homes, condominiums and co-ops. For the Midwest, monthly sales were up 3.8

Index Finds Homeowner Exuberance for Remodeling

The Residential Remodeling Index, which is compiled monthly by Austin, Tx.-based BuildFax, rose in July for the 21st straight month, an indication that homeowners are opting to renovate their current homes rather than buy new properties – and with

Pros, Cons and Potential of Real Estate Site HouseFix.com

HouseFix.com, an online social networking community for homeowners and contractors, debuted recently to mixed reviews. The site offers peer recommendations for the home repair industry and launched at the TechCrunch Disrupt Battlefield (TCDB), a premier conference for startup companies.

Existing Home Sales May Shine in August

Existing home sales in August are projected to increase 5.4 percent from July and 15.8 percent year-over-year, according to the most recent projections from Tom Lawler, a noted analyst of the housing market. Lawler said he based his estimates

Oct. 1 the Day of Defeat for Federal Loan Limits

Despite efforts by politicians and housing professionals, federal housing limits will likely decrease on Oct. 1, a development that could hamper homeownership in some markets. The limit to loans by Fannie Mae, Freddie Mac and the Federal Housing Authority

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