Dear folks who wish you owned your own home

[somdrenter]

Get ready for higher mortgage rates

NEW YORK (CNNMoney.com) -- Even though signs of a housing recovery are uneven at best, the Federal Reserve is about to take off the training wheels it has had in place for more than a year to help the battered market.
The Fed has been buying mortgage-backed securities, the bundling of home loans that are used to fund mortgage lending, since late 2008. But next month it plans to complete its purchase of $1.25 trillion in mortgages

….End of tax credit to add to problems. The worries about the Fed pulling back support for housing are compounded by the end of up to $8,000 in tax credits for home buyers. To qualify, buyers face an April 30 deadline to sign a sales contract.
Dean Baker, co-director of the Center for Economic and Policy Research, argues that the Fed's program and tax credit for home buyers "ended the free fall in home prices."
But he thinks that the removal of this support could mean that home prices could start to drop by as much as 1% a month again. He also thinks mortgage rates could climb by as much as a percentage point in the coming months…..

Fed's next move to hit housing, mortgage rates - Feb. 23, 2010

 

[somdrenter]

Nearly 25% of all mortgages are underwater

NEW YORK (CNNMoney.com) -- More bad news on the housing bust front: Nearly 25% of all mortgage borrowers were underwater, meaning they owe more on their loans than their homes are worth.

First American CoreLogic, the research firm that monitors housing equity, reported Tuesday that 11.3 million homeowners -- or 24% of all homes with mortgages -- were underwater as of the end of 2009. That's up from 23% and 10.7 million borrowers three month earlier.

Nearly 25% of all mortgages are underwater - Feb. 23, 2010

 

[kom526]

Nearly 25% of all mortgages are underwater - Feb. 23, 2010

Which means over 75% are not underwater. In this case the glass is over 3/4 full.

 

[Baja28]

Nearly 25% of all mortgages are underwater - Feb. 23, 2010

Dude, you need a life.

 

[remaxrealtor]

It should be original price, but it’s the price at the time of sale. In other words, it does not follow the market down. Keep in mind, all this data is skewed for the better for the seller (i.e. sellers agent). When the bubble first started showing its cracks, it was not uncommon to see the list price changed to the selling price; making this percentage for that particular house 100%. Also, these prices do not account for seller subsidies (and neither does the tax man for that matter). If the price is $290k with $10k in seller subsidies, $290k gets reported and that is what is taxed.

Bad news? Hardly. This is how the housing “problem” gets “fixed”. A return to fundamentals, namely incomes. Not propped up by loose lending, toxic mortgages or federal subsidies.

Wow....where do you get your information?

 

[somdrenter]

Wow....where do you get your information?

MRIS Statistics

MDLandRec.Net A Digital Image Retrieval System for Land Records in Maryland

Real Property Search

 

[kom526]

Bad news? Hardly. This is how the housing “problem” gets “fixed”. A return to fundamentals, namely incomes. Not propped up by loose lending, toxic mortgages or federal subsidies.

Abolish Freddy, Fanny and repeal the CRA. :easypeasy:

 

[somdrenter]

New home sales fall to a record low

Dude, you need a life.

By Ben Rooney, staff reporterFebruary 24, 2010: 12:41 PM ET

NEW YORK (CNNMoney.com) -- Sales of new homes plunged to a record low in January, government figures showed Wednesday, as the weak economy and a glut of foreclosed homes continue to weigh on the market.

The seasonally adjusted annual rate of new home sales plummeted 11.2% to 309,000 last month, compared with a revised rate of 348,000 in December, the Census Bureau said. That's a decline 6.1% from January 2009.

It was the lowest rate since the government began keeping records in 1963 and comes after declines in November and December.

...What's driving the market: The market for new homes remains pressured by a glut of foreclosed properties and high unemployment.

"Distressed inventory continues to hit the market at cut-rate prices, drawing potential buyers away from new product," said Mike Larson, real estate analyst at Weiss Research. "And let's face it, the job market is nothing to write home about, either."

New home sales fall to a record low - Feb. 24, 2010

 

[Monello]

Man, I luv this thread.

 

[Two-er]

Dude, you need a life.

Instead of making judgements about what he does to pass the time, perhaps you could bring some facts to the table to counter all of his facts. Otherwise, you're just like Barney Frank.

 

[somdrenter]

Duck! Watch out for falling home prices

NEW YORK (CNNMoney.com) -- Despite signs that the real estate market might be lurching forward, prices are expected to fall further this year and next.

The average home price in the United States will fall by about 6% by September 2011, according to Fiserv, a division of Moody's Economy.com. And that's after plunging more than 27% in the past three years.

Duck! Watch out for falling home prices - Feb. 25, 2010

 

[Baja28]

Instead of making judgements about what he does to pass the time, perhaps you could bring some facts to the table to counter all of his facts. Otherwise, you're just like Barney Frank.

Sorry sweetie, there are much more interesting/fun things to discuss than posting about the housing market and bragging that you rent. But you two continue right along with your boring little thread.

 

[Two-er]

What's with the sweetie referrence? You must have me mistaken for your cellmate.

 

[Two-er]

In the spirit of this thread, it looks like Wildewood condos can now be had in the low $130's.

 

[Two-er]

In the sprit of this thread, it looks like Wildewood single family homes in the existing sections can now be had for under $300,000 (MLS SM7284012). You'd probably have to go back almost 10 years to be able to say that.

And the carnage continues.

 

[Two-er]

In the sprit of this thread, it looks like Wildewood single family homes in the existing sections can now be had for under $275,000 (MLS SM7286790). You'd probably have to go back almost 10 years to be able to say that.

And the carnage continues.

fixed

 

[somdrenter]

New-home sales fall to record low

By Chavon Sutton, staff reporterMarch 24, 2010: 11:31 AM ET

NEW YORK (CNNMoney.com) -- Sales of new homes fell to a record low in February, according to a government report released Wednesday, as the glut of foreclosed homes and a weak economy dampened the housing market.

New-home sales fell 2.2% to a seasonally adjusted rate of 308,000 last month, compared to a upwardly revised annual rate of 315,000 in January, the Census Bureau said.

It was the lowest rate since the government began keeping records in 1963 and marked the fourth straight month of declines.

A consensus of economists surveyed by Briefing.com expected February sales to rise to an annual rate of 315,000.

New-home sales were down 13% from February 2009.

New-home sales dip 2.2% to record low - Mar. 24, 2010

 

[somdrenter]

Home prices heading for triple-dip

By Les Christie October 31, 2011: 5:37 AM ET

According to Fiserv, a financial analytics company, home values are expected to fall another 3.6% by next June, pushing them to a new low of 35% below the peak reached in early 2006 and marking a triple dip in prices.

Home prices heading for triple-dip - Oct. 31, 2011

 

[jetmonkey]

Home prices heading for triple-dip - Oct. 31, 2011

Sweet, so my property taxes will be going down AMIRITE?!?!?

 

[meddauna]

Sweet, so my property taxes will be going down AMIRITE?!?!?

You're funny!

they'll do the same thing they did to my house i just bought. appraise it for 30k more than i paid for it.