Fannie Mae and the Federal Housing Finance Administration are being too secretive with a pilot bulk-sales program that sets out to unload its REO inventory, the California Association of REALTORS® said recently in a public statement. CAR argues that the government entities are continuing to move forward on the pilot program, despite an outcry among many in the housing market that it will have a negative impact on the economy and end up costing the taxpayers. CAR is demanding more […]

The latest housing reports are showing housing on the mend and many are reaching the conclusion that the worst is over. So what does this mean for the booming rental market? The pick up in home sales has many analysts questioning how much longer the multifamily sector will see this kind of rapid growth. Apartment rents are soaring in many markets and vacancies are falling. Also, multifamily housing starts climbed 30 percent in July over year-ago levels. “The apartments have […]

Mortgage rates fell across the board this week, after having inched higher the last few weeks from all-time lows, Freddie Mac reports in its weekly mortgage market survey. Here’s a closer look at rates for the week ending Aug. 30. 30-year fixed-rate mortgages: averaged 3.59 percent, with an average 0.6 point, dropping from last week’s 3.66 percent average. A year ago at this time, 30-year rates averaged 4.22 percent. 15-year fixed-rate mortgages: averaged 2.86 percent, with an average 0.6 point, […]

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Former Massachusetts Governor Mitt Romney put the focus on job creation and cutting the federal deficit to spur the economy in his speech last night in Tampa, Fla., accepting the Republican nomination for president. “What America needs is jobs,” he said. “When the [real estate professional] told you that to sell your house you’d have to take a big loss, in those moments you knew that this [economic recovery] just wasn’t right” and that a new approach is needed. Romney […]

13 years of experience as a Broker and Trainer, including the past 5 years as an Investor & Property Manager. Also a licensed RE Instructor in the State of New Jersey as well as a recent author of Dreamboarding 101. In addition to helping Home Sellers and Buyers, I also specialize in helping Investors and Renters. As an Investor with my partner, I have a unique insight into the needs of my investor clients, particularly when it comes to your […]

Pending home sales rose in July to the highest level in over two years and remain well above year-ago levels, according to the National Association of REALTORS® (NAR). The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 2.4 percent to 101.7 in July from 99.3 in June and is 12.4 percent above July 2011 when it was 90.5. The data reflect contracts but not closings. Lawrence Yun, NAR chief economist, said the index is at the highest […]

The latest industry reports are showing housing prices on the rise, and it has made more sellers want to raise their asking price, according to industry insiders. Shrinking inventories of for-sale homes with pent-up demand is allowing sellers to charge about 5 percent more than they could have just six months ago, Everett King, president of ERA King Real Estate in Birmingham, Ala., told USA Today. Real estate companies are reporting that sellers are having more luck with their higher […]

13 years of experience as a Broker and Trainer, including the past 5 years as an Investor & Property Manager. Also a licensed RE Instructor in the State of New Jersey as well as a recent author of Dreamboarding 101. In addition to helping Home Sellers and Buyers, I also specialize in helping Investors and Renters. As an Investor with my partner, I have a unique insight into the needs of my investor clients, particularly when it comes to your […]

Fannie Mae, one of the nation’s mortgage giants, announced new lending restrictions that might make it even more difficult for some home buyers to qualify for a loan. New applicants and home owners looking to refinance may find they have to meet more stringent standards, such as in meeting new loan-to-value ratios in qualifying for a mortgage. For example, Fannie announced that the maximum loan-to-value ratios permitted will now be 90 percent, down from 97 percent. Also, the GSE says […]