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Real Estate News
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CAP Proposes Plan to Put Americans Back to Work
Recently, as lawmakers continue to debate infrastructure bills, a new report released by the Center for American Progress proposes a plan to enable significant progress in bringing America’s infrastructure up to par. In addition to proposing a new level of federal investment and how to pay for it, the report outlines a set of critical [...]
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Deadline to Request Mortgage Review Extended to July 31
People seeking a review of their mortgage foreclosures under the Federal banking agencies’ Independent Foreclosure Review now have until July 31, 2012, to submit their requests. The Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve System (Federal Reserve) announced yesterday that the deadline for submitting requests [...]
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Housing Expected to Add to GDP for First Time in 7 Years
The 2012 outlook is improving modestly from a disappointing 2011. Economic growth picked up in the fourth quarter of 2011 to 2.8 percent and is expected to come in at 2.3 percent for 2012, up from 1.6 percent growth for all of last year, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research Group. However, [...]
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The Real Estate Book Releases Android App to Reach More Home Shoppers On the Go
Finding a new place to live just became easier for consumers—who can now browse homes on their smartphones. The Real Estate Book recently launched an additional mobile tool—a free Android app to make looking through photos, maps, and more information a better experience for home shoppers. Consumers may download the app for free from the [...]
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Home Remodelers Betting on a Rebound
(MCT)—Residential contractors are hoping that tight-fisted consumers will decide they need a new bathroom. Or maybe it’s time for those old kitchen counters to go. Perhaps it would be better to add another bedroom than move? After three years of slumping business, builders anticipate that the home remodeling and improvement sector will pick up in [...]
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Mortgages Improve, Delinquencies Rise
While delinquencies and defaults slowly improve in the housing economy as a whole, FHA’s portfolio has not shared the same good fortune, creating increased pressure on the agency to reduce risk and increase costs to its borrowers, most of whom are first-time buyers. In December, about one out of every 10 FHA mortgages, 9.73 percent, [...]
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Housing Starts Rise 1.5 Percent from Upwardly Revised Numbers in January
Building on significant upward revisions to numbers for the previous two months, nationwide production of new single-family homes and apartments increased 1.5 percent to a seasonally adjusted annual rate of nearly 700,000 units in January, according to newly released figures from the U.S. Commerce Department. This marks the second-best pace of overall housing production since [...]
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Fed Chairman Comments on Today’s Housing Market
Federal Reserve Chairman Ben S. Bernanke made the following speech at the 2012 National Association of Homebuilders International Builders’ Show, held in Orlando, Fla. on February 10. Housing Markets in Transition The economic recovery began more than two years ago, but it doesn’t feel like much of a recovery for many Americans—certainly for those of [...]