Editorial Staff
Home price growth continues to slow in all cities
Home prices across the U.S. continue to slow this year, according to a release from the S&P/Case-Shiller Home Price Index report. The home price index covering the entire nation increased 6.2% in the 12 months ended in June, according to the release. In the past the national index was published ...
Home Depot reports strong second-quarter sales and raises 2014 forecast
The nation's largest home improvement chain has reported sales of $23.8 billion for the second quarter of fiscal 2014, a 5.7 percent increase from the second quarter of fiscal 2013. Comparable store sales for the second quarter of fiscal 2014 were positive 5.8 percent, and comp sales for U.S. stores ...
New apartment construction jumps 33% as renter nation trend takes hold
Buried in this week's government report on new home construction, is a sharp jump in multifamily apartment building construction of 5 units or more, something real estate investors should be watching. Construction of apartment buildings of this size jumped 33%, the highest level since January of 2006, according to the ...
Fannie Mae downgrades outlook for housing this year and next
A pessimistic Fannie Mae has had downgraded the outlook for the housing market in a new report just released. The mortgage giant says housing activity appeared to have lost momentum at the end of the second quarter and near-term indicators suggest only minor improvement in the second half of the ...
Housing recovery decelerates as 59% of consumers believe the economy is on the wrong track
Consumer attitudes about the economy have grown more negative but Americans' attitudes toward the housing market remain mixed, although a steady improvement in their personal financial outlook may bode well for housing in the coming months, according to results from Fannie Mae's July 2014 National Housing Survey released by PRNewswire ...
Lower home ownership in future will keep rents higher for real estate investors
The growth in renters will continue as the national home ownership rate fell in the second quarter, and a majority of experts said they expect it to fall further in coming years as the Millennial generation delays home purchases and the age of typical first-time homebuyers rises, according to PRNewswire's ...
Six people from Chicago area indicted in $2.7 million real estate and mortgage fraud case
Six people from the Chicago area are facing federal fraud charges involving separate schemes to obtain a total of more than $2.7 million through fraudulent statements in loan applications submitted to banks, mortgage lenders, several community colleges, the U.S. Department of Education, and the Small Business Administration since 2006, according ...
Former NYPD sergeant sentenced to almost 5 years in prison for $4.7 million real estate fraud
Former New York police department sergeant James Monahan, owner of a real estate investment company called Panam Management Group, who used his prior police service as a badge of trustworthiness and reason to invest with him, was sentenced to 58 months in prison, according to a release from Preet Bharara, ...
Zillow buying Trulia bringing together the two largest real estate websites
Zillow has reached a deal to buy Trulia for $3.5 billion making according to multiple reports which would make the combined entity the largest player in the online real estate listings space. The Wall Street Journal and New York Times both reported the deal was agreed to on Monday. “The ...
The battle over rental rights and tenants: Who can limit rentals and when?
To many homeowners’ associations and cites the word “rent” is truly a four-letter word. The 2008 Indiana Supreme Court case of Villas West II v. McGlothin began as a community association’s legal action against a homeowner who was renting out her property to tenants. It ended as a landmark decision ...
9 things you need to know about buying property at auction
During the height of the housing downturn, “auction” usually referred to a foreclosed piece of property sold to the highest of many jostling bidders on the local courthouse steps. Typically, there was no chance for a preview of the property, little time for due diligence and the requirement of full ...
12 ways to earn money as a real estate syndicator
IS IT REAL ESTATE OR A SECURITY? EDITOR’S NOTE: The investment industry is not organized for the convenience of investors! The people who can help you buy stocks, bonds and funds are licensed as stock brokers, financial advisers or sellers of stock-related offerings. The people who can help you buy ...
People in Illinois and other states want to move: What does that mean for real estate investors?
Gallup in a new poll has found that residents of some states would readily move if they could. This migration desire is something real estate investors should be aware of and plan for in their investments. While every state has at least some residents who are looking for greener pastures, ...
Who are the foreigners buying up American residential real estate?
All real estate may be local, but the buyers are not. Wonder why home prices are continue to be so high in California? Why are there so many cash buyers? The answer may be international buyers, with 55% of them buying in just four states: California, Florida, Texas and Arizona ...
Housing bubble inflating again mortgage bankers say
Mortgage bankers fear another real estate housing bubble, according to the latest quarterly survey of North American bank risk managers conducted for FICO, a leading predictive analytics and decision management software company, according to a release from PRNewswire. In the survey, 56 percent of respondents directly involved in mortgage lending ...
HomeVestors breaks growth record
Franchisee growth for HomeVestors is up for the first two quarters of 2014, breaking records set in previous quarters as the highest ever class enrollment of new franchisees, according to a release from PRNewswire. The Dallas-based company is the largest professional house buying network of independently owned and operated franchisees ...
Four convicted in $50 million North Carolina mortgage fraud case
A former government organized crime informant and a Ft. Lauderdale grandmother were convicted in federal court last week on conspiracy to commit bank fraud and wire fraud involving a $50 million luxury real estate deal in the North Carolina Mountains involving many Florida “straw buyers.” Domenico ‘Dom’ Rabuffo, 77, of ...
Home price appreciation cools as the weather warms
Home prices nationwide, including distressed sales, increased 8.8 percent in May 2014 compared to May 2013, according to a new report from CoreLogic. This change represents 27 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased 1.4 percent in ...
Mortgage rates continue to drift lower
Mortgage rates were down for the second week in a row, with the benchmark 30-year fixed mortgage rate sliding to 4.28 percent, according to Bankrate.com's weekly national survey releassed by PrNewswire. The average 30-year fixed mortgage has an average of 0.31 discount and origination points. To see mortgage rates in ...
Tenants prefer online ratings more than referrals in seeking rental housing
Prospective renters place higher importance on online reviews than referrals from friends and family, according to a Kingsley Associates' study June 19 at the National Apartment Association Education Conference & Exposition in Denver, and reported by PRNewswire. The first-ever multifamily study on ratings and reviews entitled Highly Recommended: The Influence ...
Two real estate investment schemes shut down
Two real estate investment companies in Missouri have been shut down after investigations by the secretary of state’s office showed schemes where investor money was converted for personal use. Investment Midwest, operated by Renee Goodman, and Herman Beck and Ozark Investor’s Group, LLC, were both told to stop doing business ...
Mortgage rates inched up this week, but still remain low
Bankrate reports that mortgage rates inched up this week, but they remain attractive as more homebuyers and refinancers jump at the opportunity to grab a low rate. The benchmark 30-year fixed-rate mortgage rose to 4.34 percent from 4.32 percent the previous week, according to the Bankrate.com national survey of large ...
Foreclosures down 5 percent in May, but some states still buck the trend
Foreclosure rates dropped 5 percent in May, the lowest monthly total since December 2006, but 21 states still posted monthly increases in foreclosure activity according to RealtyTrac® (www.realtytrac.com). In a release from Marketwired, the company said that foreclosure filings -- default notices, scheduled auctions and bank repossessions- were reported on ...
Mortgage rates reversed course this week, with the benchmark 30-year fixed mortgage rate jumping to 4.32 percent, according to Bankrate.com's weekly national survey released by PR Newswire. The average 30-year fixed mortgage has an average of 0.34 discount and origination points. To see mortgage rates in your area, go to ...
Housing crisis still real for many, as appeal for renting grows new research shows
A new research study shows that 70% of the public continues to believe we are still in the midst of the housing crisis. Also, of interest to real estate investors, is that people believe the country’s housing environment is changing and home ownership is not viewed as a vehicle to ...
