Are Distressed Homes Worth It?
By M.P. MCQUEEN, www.online.wsj.com
Home buyers are finding that the battered real-estate market offers just as many opportunities for headaches as for bargains. READ MORE
Yes, the Housing Market Has Rarely Looked Better
By JAMES B. STEWART, Wall Street Journal
Passing through the Fort Myers, Fla., airport a few weeks ago, I noticed people eagerly signing up for a free bus tour of foreclosed real estate—with all properties offering water views. During the ride to my hotel, the young driver volunteered that he had just bought his first house, paying $65,000 for a foreclosed property in nearby Cape Coral that last sold for over $250,000. He said he had never expected to be able to buy anything on a driver’s salary, let alone something that nice. READ MORE
Behind FHA Strains, a Push to Lift Housing
By NICK TIMIRAOS, Wall street Journal
As it tried to help shore up the ailing housing market during the past year, the Federal Housing Administration increased its exposure, particularly to mortgages in high-cost states that have also seen some of the sharpest price declines. READ MORE
Prime Jumbo Trouble: The Foreclosures Keep Coming
By Nick Timiraos, Wall Street Journal
The volume of loans entering foreclosure and the rates of foreclosure starts showed no signs of slowing in July, even amid signs that early stage delinquencies may be slowing. Foreclosure starts increased by 7.1% in July, the second highest month on record, according to a monthly report by LPS Applied Analytics. READ MORE
Will Congress Extend the First-Time Home Buyer Tax Credit?
By Nick Timiraos, Wall Street Journal
One big question looming over Congress when it returns from its summer recess next month: what to do about that $8,000 tax credit for first-time home buyers? READ MORE
Commercial Real Estate’s $1 Trillion Time Bomb
By Lingling Wei, Wall Street Journal,
Yesterday I wrote about a looming crisis in the commercial-mortgage-backed securities market. But there’s another time bomb ticking away in the commercial sector: U.S. banks are holding more than $1 trillion of mortgages backed by commercial property that is fast losing value. READ MORE
Too Gloomy? Whitney Predicts 25% Home Price Plunge
By Dawn Wotapka, Wall Street Journal
U.S. home prices–which have already tumbled nearly a third from the 2006 peak–could plunge by another 25% as high unemployment levels continue, according to prominent banking analyst Meredith Whitney. READ MORE
Reappraising Home Appraisers
By JAMES R. HAGERTY, Wall Street Journal, August 18, 2009
After being blamed for helping to inflate home values during the housing boom, the appraisal business is again coming under fire. READ MORE
Economists React: “Breadth of Gains Was Impressive”
By Kelly Evans, Wall Street Journal, August 25, 2009
Economists weigh in on the June improvement in the S&P/Case-Shiller index of home sales.
Not only are housing prices stabilizing, they are starting to grow. The three most widely used yardsticks for measuring housing prices (The National Association of Realtor’s median price, the Federal Housing Finance Agency (FHFA) price indexes and the Case-Shiller prices indexes) are telling a similar story…First, it will help banks holding toxic assets: With house prices stabilizing, these assets will regain some of their lost value. READ MORE
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Jeff Gaffney,
Chairman & CEO
Better Homes & Gardens Real Estate III
