Despite record low mortgage rates, 2011 has seen a surprisingly high level of cash home purchases, according to the real estate research firm Hanley Wood Market Intelligence. Jonathan Dienhart and Ken Lee, two analysts with the company, say between tight lending standards and a desperate search for yield by investors, cash purchases of homes – …
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According to Zillow.com, a popular real estate information website, sellers who purchased in 2007 or later are overpricing their homes by an average of 14.1 percent. In comparison, sellers who purchased prior to 2007–when the housing bubble erupted–tend to overprice their homes by an average of 10.5 percent. “Post-bubble homeowners seem to believe they escaped …
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New foreclosure actions in states along the country’s West Coast returned to levels in line with prior months during September, according to ForeclosureRadar, a California-based company that tracks every foreclosure in its five-state coverage area. The leveling off in September follows a strong surge in foreclosure starts during the month of August in the western …
Continue reading ‘After a jump in August, foreclosures begin again’ »
Price limits for cheaper rates to expire Oct. 1 The chief economist of the California Association of Realtors says her group is resigned to seeing high-dollar limits on lower-cost “conforming” loans expire on Oct. 1, resulting in greater financing costs for people buying pricier homes. Leslie Appleton-Young said Realtors fought to extend the limit, but …