Some Sunny Wednesday Real Estate Reading
Housing
Fannie, Freddie accelerating short sales – Inman News
Fannie Mae and Freddie Mac will require loan servicers who need more than 30 days to make a decision on a short-sale offer to provide weekly status updates and give a thumbs-up or thumbs-down no later than 60 days after receiving an offer.
New Short Sale timelines and HARP Updates - CR
Betting on Vegas Comeback – WSJ
Difficulties in forecasting the impact of shadow inventory on the housing market – Sober Look
Housing: New Bubble or More Trouble? – Dollar Collapse
Housing Data Disappoint … Again – BusinessWeek
The Housing Market Returns… Now – Esquire
After four years of debilitating fear and a market flooded with ownerless houses, the tide is finally beginning to turn. In fact, I believe the housing market, home building especially, is about to surge.
Economy
Are Soaring Student Loans The Best Economic Indicator? – Zero Hedge
China home prices fall in most cities in March – CNA
Spain Is Doomed: Why Austerity Is Destroying Europe – The Atlantic
Misc.
Obama Launches More Realistic ‘I Have Big Ideas But We’ll See How It Goes’ Campaign Slogan – The Onion
“My fellow citizens, I stand here today to tell you that, if given a second term, I have very big plans for our nation’s future,” Obama said during a rally at Chicago’s Navy Pier. ”Ambitious, forward-thinking plans I will have to drastically scale down based on opinion polls, budget considerations, and political roadblocks, but, you know, I’ll see what I can do. No promises, though.”
The Shiller Duality - TBP
This is certainly what everyone wants to hear. But, the time limit doesn’t start until the package is deemed “complete.” As a scarred veteran of too many short sales, “complete” is pretty vague in banking terms. And what happens if the servicers don’t comply? Personally, I’d rather just do away with HAFA along with all the hardship requirements that are the majority of the clog. Give the banks the choice to take the hit or the property.