New housing permits at lowest level since 1997

A report released by the home builders indicates that new permits for construction hit its lowest level since 1997. This is a sign that the home builders are expecting more pullback in values.

Home prices fall for 3rd straight quarter

As expected, the price of homes has fallen for the 3rd straight quarter according to the National Association of Realtors (NAR). The decline is an average of 6.5% below the peak in 2006.

Check out the neighborhood when buying a home.

Finding a home in the right neighborhood is equally as important as getting it at a value. Many neighborhoods may look suitable from a glance but there could be underlying crime that would affect your decision. Just because a neighborhood is well kept does not mean it is safe.

Home values for 2007 expected to decline

The National Association of Realtors reported that overall home prices are expected to decline this year for the first time since they began tracking this in 1968.

Real Estate Auctions

As lender inventories of repossessed homes reaches uncomfortable levels they resort to selling the homes through auction. A few years ago there were very few of these opportunities available but with recent market declines and increases in foreclosures the auction market is...

Smoggiest cities for 2007

Not surprisingly, Los Angeles is listed as the smoggiest major city in the United States. This is based on a report released today by the American Lung Association. Yet LA is much better than it was 20 years ago before the strict smog laws (if you can imagine that).

Political pressure on lenders to prevent foreclosures

The banks really don’t want your house. It is a costly event for them to foreclose on your property. The average cost of a foreclosure is $40,000. In addition there has been an increasing amount of pressure placed on banks to provide bailout solutions to troubled...

Subprime loan bailout programs

It is clear that the increase in foreclosures caused by negative amortization loans and short term fixed teaser rates has prompted some state governments to get involved by offering a bailout program. In addition to regulatory pressure on lenders the state of Maryland has...

Selling and buying simultaneously

In the current market is is far more difficult to sell a home than it is to find a good buy. Here is a couple of things that may help you through this process.

Stocks vs. Real Estate

There has been recent articles written about which is a better long term investment, stocks or real estate. In the comparison it was determined that stocks outperform real estate in the period between 1978 and 2004. Some studies went as far back as 1890 to arrive at the same...

Are you being harassed by creditors?

Do you get calls at work from creditors? It can be embarrassing and a total harassment. Creditors will call every number they have on file multiple times every day unless you do something to stop them. There is a way to get them to stop calling.

Don’t procrastinate if you are facing foreclosure

Too many homeowners wait till they get a foreclosure notice to realize they need to do something about their situation. It is a proactive approach that will produce the best results.

Now is the time to upgrade to a larger home

There are many homeowners that want to upgrade to a home that meets their current needs and desires yet they are afraid of the market slide and fear they will not get full value for their home. This could play into your favor.

Options for avoiding foreclosure

Once you are facing foreclosure there are a few options that could help you stop the inevitable.

Borrowers placed in loans for higher commissions

"As the mortgage boom slowed in 2005 many brokers scrambled to fill their pipelines as the rate of new applications fell. Many of these brokers were putting borrowers that could qualify for prime rate products into a subprime category for the higher yield spread premium paid...