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Category Archives: Real Estate Market
Foreclosures have increased 14% between the second and third quarter of 2011, following five straight quarters where the number of foreclosures has gone down. This increase could dampen the recovery of the American housing market and harm economic recovery for cities where foreclosures rose significantly. Based on data recently released by RealtyTrac, 24/7 Wall St. has identified the 10 metropolitan regions where foreclosures increased by more than 30%.
The whirlwind of technological innovation and change increasingly complicates spending decisions for real estate businesses of any size. With so many emerging and competing technologies, it’s a constant challenge to decide which may offer the greatest return on investment, which ones will have staying power, and which untested technologies are worth a try. There are many opportunities to spend money on technologies that are not the right fit for the business, and technology can become a black hole for a company’s budget, whether it is developing the technology in-house, or contracting out for custom or off-the-shelf tools and services.
For the third consecutive month, the Obama administration’s signature housing help plan posted the lowest numbers of preliminary mortgage modifications since the program’s start in the spring of 2009. Just 13,000 homeowners received initial mortgage modifications from the Home Affordable Modification Program in August, down from 14,000 in July and 15,000 in June, already the fewest since April 2009.
A brush with fame — or infamy — may have its place, but apparently it doesn’t gain much in the way of real estate currency. The price of the 6,800-square-foot Tribeca townhouse rented by former IMF head Dominique Strauss-Kahn for the duration of his state-mandated stay in New York year just dropped from $13.995 million to $12.5 million — about an 11 percent cut. Tenant Strauss-Kahn pretty much made a mad dash for the border once the charges against him of sexually assaulting a maid were dropped, returning the Franklin Street unit to the market either as a rental for $50,000 a month or a purchase.
The U.S. is having difficulty returning to prosperity because of several major dilemmas. In the long run, we need to adopt actions that slash our rising deficit and debts, but those actions are opposed to the behavior we need to implement right now to overcome high unemployment and low growth. This dilemma, plus disagreement in Congress about which way to go, has produced policy paralysis.
Affixed by a spring in permits of multi-family buildings, new housing starts increased in California State during the previous month of August, in spite of a drop in new housing starts across the whole nation. Construction of new homes during the month nationwide totaled just 571,000 housing units, the fewest since record keeping has been monitored during 1970.
The citizens of America have been light-minded about purchasing new homes from the time of the crash of the real estate boom. However Americans stay on being dedicated to the American Dream of home ownership, yet if it is uncertain when and how demand will increase and lead to the improvement of the market.
A new opinion survey recently released demonstrates that American citizens think home prices will not recover a sufficient amount in the forthcoming five years to pull out millions of owners of underwater homes out from being upside down on their home loans.
Carrying a number of bags with rubbish left at a foreclosed Bank of America estate in Malden, dozens of anti-foreclosure demonstrators showed up at bank president Robert Gallery’s house Wednesday to put the garbage and unload anger.
In fact not every Malibu lifestyle house is on the beach; in reality, some of the more lovely ones are off the sand and in the land-side slopes overlooking the Pacific Ocean. They still obtain the breezes from the sea and the panoramas are amazing – and the prices seem to suggest their lack of beachfront position.