Zeroing in on yet another deficiency of a faulty appraisal process that is hurting home values, hampering a housing recovery and often killing sales of homes coming in below the contract sales price, the Government Accountability Office (GAO) earlier this month reported that the Appraisal Subcommittee, which oversees the appraiser regulatory programs established by the …
Interesting news! FHA rules typically prohibit insuring a mortgage on a home owned by the seller for less than 90 days. In 2010, however, the agency waived this regulation, and later extended the waiver through 2011.
The new extension announced late last week will permit buyers to continue to use FHA-insured financing to purchase HUD-owned and bank-owned properties, no …
The number of distressed properties not currently listed for sale on multiple listing services (MLSs) stood at 1.6 million as of October 2011, according to CoreLogic.
This shadow inventory is approximately half of the industry’s visible inventory of homes available for sale, CoreLogic says. Thus, for every two homes available for sale, there is one home …
National home prices continue to be pressured by a stream of distressed properties that threaten to push prices even lower, a CoreLogic report said Wednesday.
The nation’s shadow housing inventory stood at 1.6 million units, or a 5-month supply, in October, suggesting little movement in the past six months.
That number remains consistent since July, but is down from …
Existing-home sales rose again last month, according to data released Wednesday by the National Association of Realtors (NAR). That assessment, however, is coming off of lower sales numbers than previously thought, reflecting revisions to NAR’s data going back to 2007. The trade group has adjusted sales and inventory figures for the last four years downward …
The Labor Department said today that the Consumer Price Index was unchanged last month. Economists had expected an increase of 0.1%. Prices rose 3.4% in the 12 months through November. That is off from the 3-year high of 3.9% clocked in September, and Friday’s report backs the view that the spike in inflation is subsiding. However, some of the data …
Our favorite economic guru, Christopher Thornberg is showing a turn in the employment market. His data shows it will continue to trend upward in slow recovery. We have found in the past that Christopher’s analysis and predictions have been spot on so we feel this is some info you can trust.
Take a look at his …
Experts are saying that Foreclosures are going to go up before they go down. Craig Nickerson, President of the National Community Stabilization Trust estimates that up to 850,000 houses will be put in foreclosure, with up to 1.5 million in 2013, before tailing off to where they are today in 2015. Alot of industry professionals …
In some continued good news, Unemployment has again been dropping with recent reports showing dropping to the lowest levels since March 2009. “The labor market is gradually healing. It’s a glacial pace, but we are taking small steps in the right direction,” said Ryan Sweet, a senior economist at Moody’s Analytics in West Chester, Penn.
See the …
In a report that can almost be described as “Christopher Thornbergian”, unemployment data again painting a positive picture for the second month in a row and revised October figures have been bumped higher (read: better) as well.
Check out the full report over at CNN.