When a condo complex has HOA delinquency rates at 15% or higher, lenders won’t lend. All purchases become cash-only and prices tend to plummet accordingly. This has been a problem for a few years now, but maybe – just maybe – we’re starting to turn the corner and HOA delinquency rates are beginning to decline. [...]
RadarLogic released their Housing Market Report with data through June 2011. The data was pretty bleak: Most recent indicators point to weakness in the housing markets. The RPX Composite price, which tracks housing values in 25 major metropolitan markets in the United States, declined 4.7 percent year over year through June. The RPX Composite price increased [...]
There is a rumor going around that, instead of selling your primary residence now, you can rent it out for nine months first, declare it an investment property, and then deduct the entire capital loss from your income on your taxes.
Some interesting real estate reads today… Reader Seeks Help/Advice on US Housing/Economy; How Far to THE Bottom? – Mish (be sure to read the comments) Foreclosure Rate Heat Map – TBP – only 1 in 500 homes in Illinois got a foreclosure notice… maybe foreclosures really aren’t really a national problem? U.S. May Back Refinance [...]
Today I attended a speaking event featuring Barry Habib, sponsored by Walnut Creek’s RPM Mortgage and a mortgage-broker friend of mine, Ken Neate. Barry is a well-respected businessman, investment professional, and a heavyweight in the mortgage industry, and was invited to share his thoughts on the mortgage market, interest rates, the economy, stocks, and the housing market with a select group of local real estate agents.
I’ve been a big proponent of listing to the people who have been right all along. One of them is Dave Rosenberg. Not only does he believe that we are heading for a double-dip recession, he thinks we already have one. http://plus.cnbc.com/rssvideosearch/action/player/id/3000040242/code/cnbcplayershare
The New York Times has called out the Obama administration, pointing out that efforts to fix the housing market have fallen short, and that the next plan must include principal reduction in order to get to the root of the problem. Instead of pushing the banks to do what is needed, the Obama administration has [...]