More than 20 lawmakers in the House of Representatives this week called on Fannie Mae and Freddie Mac to reduce the mortgage principal of borrowers who owe more on their home than it is currently worth. The Federal Housing Finance Agency, which regulates Fannie and Freddie, has been refusing to take such a drastic move, citing concerns that writing down principal balances may create a “moral hazard” and prompt other borrowers to stop making loan payments on time. But the […]

Board-certified real estate attorney Gary M. Singer answers housing questions in this space each Friday. To ask him a question about short sales, mortgages, refinancing, homeowner’s associations or any other residential real estate topic, click here. Q: I read in the paper that the banks are starting the foreclosures again. I just got served with a foreclosure lawsuit. Can you explain the process in layman’s terms? – Tony A: Each state has different versions of the foreclosure process. In Florida, […]

KB Home plans to make solar power a standard home feature in nearly all of its developments in Southern California starting next year, the solar company templestowe will be in charge of doing it they announced on Monday. Currently, KB Home says that sales in communities with solar power as a standard are 30 percent higher than in communities that don’t offer homes with solar panel as a standard. “The strategy is part of the builder’s effort to make more […]

The conforming loan limit has been raised back to $729,950 from $625,500 for high-cost housing areas effective immediately for FHA loans that will be originated through 2013. The measure, which was approved by both the Senate and House of Representatives on November 17, 2011, was signed into law by President Obama the following day. However, the new law does not raise the loan limits for Fannie Mae or Freddie Mac-backed loans, which raised the concern of many House and Senate […]

I am a full service residential real estate broker with additional experience originating mortgage loans and real estate investment. I count among my specialties first time home buyers as well as residential investment and multi family property. Given my locale I have significant familiarity with co-ops as well. I am an independent broker, so when you deal with my company you deal directly with the owner. My business has been a gay-friendly operation since 1998; I am a member of […]

Existing home sales increased 13.5% in October when compared to a year earlier and would be even higher if contract failures and cancellations plaguing the loan application process could subside, the National Association of Realtors said Monday. Total existing home sales — including single-family townhomes, condominiums and co-ops — rose to a seasonally adjusted annual rate of 4.97 million units in October, compared to 4.9 million in September and 4.38 million a year earlier. “Home sales have been stuck in […]

The Phoenix housing market is defying conventional economic theory. Inventories of homes for sale are low, falling 41% to 21,304 in October, compared to 35,732 at the same time a year ago for Greater Phoenix, according to the Cromford Report, a market research firm in Mesa, Ariz. The number of home sales is rising—to 6,428 in October from 5,443 in same month a year ago, according to the Cromford Report. The city’s unemployment rate is inching down and is below […]

Single-family housing starts rose 3.9 percent in October with permits, a gauge for future home building, also seeing a sizable jump, the U.S. Commerce Department reports. Housing permits on single-family homes rose 5.1 percent in October to 434,000 units—its highest level since December 2010. “While we still have a long way to go toward a recovery, some signs of hope are emerging in certain markets where economic and job growth is occurring and where foreclosures have not been an overwhelming […]

The improving but still vulnerable economy looks more likely to avoid recession but may only push home sales slightly higher in 2012, Fannie Mae economists said Friday. The group added that by the end of 2011, home sales will have shown little improvement from 2010. According to the National Association of Realtors, existing home sales December 2010 closed at an annualized rate of 5.28 million units. In the third quarter of 2011, the rate had dropped to 4.8 million, but […]

Along with a focused and detail-oriented business style, Christopher’s love of art and culture is at the heart of what he shares with his clients and brings to his work. Christopher grew up in the Bay Area of California, and moved to Portland, Oregon to attend Reed College. For many years he was co-owner of The Genoa, a remarkable Northern Italian restaurant, well known up and down the West Coast. Over 20 years ago, he moved to Santa Fe and […]