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Even if home prices and household leverage stabilize next year, mortgage debt outstanding will continue to contract over the next several years because of high credit losses, according to analysts at financial services firm Keefe, Bruyette & Woods. “Given the high delinquency rates, large discounts in private label securities prices and large provisions already taken by banks, in our view it is clear that a meaningful percentage of loans will default and not be replaced by new loans as the homeownership rate continues to contract,” the analysts say. “This trend is […]

I am a native of Baton Rouge, LA. However, I have lived in NYC and Boston for most of my adult life. I attended graduate school in Boston and worked as a Medical Software Consultant focused on managing client expectations through sophisticated software implementation projects for many years. My experience managing large scale projects in the corporate world suited my transition to real estate over 9 years ago. In real estate, I have worked in the luxury markets of Boston, Miami Beach and Fort Lauderdale, and most recently, I have […]

Bank of America (BAC: 5.45 -4.72%) is looking at a new program to rent a home back to the borrower after foreclosure. “There are programs that we are quite interested in,” said Ron Sturzenegger, who leads the bank’s legacy asset servicing division, in an interview with HousingWire. “We are talking with investors that would come in and buy these houses and would lease them back to who would now be the now tenant.” In February, BofA formed the division to handle the servicing for delinquent mortgages, loans no longer being […]

In many recent cases, new homes are being appraised for less than the cost of construction, according to the National Association of Home Builders. Builders are blaming flawed appraisals for holding back the housing market’s recovery. Builders say that new homes should not be compared to foreclosed homes that have sat vacant and are in disrepair. “The inappropriate use of distressed and foreclosed sales as comparables in determining new home values is needlessly driving down home prices, killing home sales, causing more workers to lose their jobs and delaying a […]

The average rate on the 30-year fixed mortgage hovered above its record low for a sixth straight week. But the super-low rates aren’t providing a lift to the struggling housing market. Freddie Mac said Thursday the rate on the 30-year home loan ticked down to 3.99 percent from 4 percent the previous week. It dropped to a record low of 3.94 nine weeks ago, according to the National Bureau of Economic Research. The average rate on the 15-year fixed mortgage was edged down to 3.27 percent from 3.30 percent. Nine […]

More cities were added to this month’s Improving Markets Index, which was created earlier this year by the National Association of Home Builders and First American. The index identifies cities that are showing improvement in housing permits, employment, and home prices for at least six consecutive months. The latest index results is “very much in keeping with the latest government housing data and our own builder surveys, which have shown modest signs of improvement in certain individual markets where employment is gaining and distressed properties are not as numerous,” NAHB […]

If walls could talk, the ones in this 50s-era home would probably be slurring from all the highballs. Frank Sinatra rented it in his Rat Pack heyday and sublet the guest house to Marilyn Monroe. It was the site of her last photo shoot and allegedly where she met the 35th president for an affair. If it looks familiar, it may be because you watch TV or movies. It’s been a set in “Dreamgirls,” Usher’s “Burn” video and “Mad Men,” among many others. The latter makes perfect sense since  the […]

Doug Morgan is a Native of North Atlanta with a extensive knowledge of the Real Estate market. He has been licensed as a sales associate in California, Florida and Georgia. He is currently licensed as an Associate Broker with Solid Source Realty in Georgia. He held a Mortgage Brokers license in Florida and was a Loan Originator in Georgia. Doug’s career in Real Estate spans from Merrill Lynch Realty in Tampa, Fl to Classic Homes in Palm Springs, Ca. He has been a consistent Multi-Million Dollar producer wherever he has […]

Four years after the housing bust, researchers at theFederal Reserve Bank of New York are putting some of the blame on real estate speculators, saying they played a key role in blowing up the housing bubble that eventually popped, causing home prices to tumble nationwide. In a report titled  “Flip This House: Investor Speculation and the Housing Bubble,” four researchers claim borrowerswho owned multiple homes for investment purposes played a key role in running up national home values right before the 2007 housing meltdown. In fact, the report found a third of […]

Heading into 2012, Florida Realtors say the Sunshine State is already in a mini-recovery with sales trending up and inventories starting to fall. The association of state real estate agents concluded during its 2012 Real Estate Economic Forecast Conference Tuesday in Orlando that Midwesterners wanting homes in Florida will be able to find deals throughout next year. Florida Realtors Chief Economist Dr. John Tuccillo said real estate agents are starting to see multiple offers on Florida homes. Mark Vitner, senior economist at Wells Fargo, who spoke at the event, said […]