Tuesday, January 31, 2012
San Diego broker pulls listings from third-party sites
ARG president says syndication 'brings little value' (VIDEO)
A Waterfront Home in Rhode Island
A Jamestown, R.I., home of about 6,500 square feet, with six bedrooms, seven bathrooms and two half-bathrooms, is asking $5.8 million.
Monday, January 30, 2012
Mortgage applications surge amid record-low rates
Mortgage loan applications surged 23% last week, according to the Mortgage Bankers Association, as record-low interest rates convinced many homeowners it was time to refinance into lower-cost loans.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/FO1gA8NMSBk/index.htm
Foreclosures and Short Sales - May 2011
A comprehensive, monthly view of the foreclosure and short sales situation in the Twin Cities housing market.
Source: http://www.mplsrealtor.com/downloads/market/FSS/fss_2011-05.pdf
Sunday, January 29, 2012
Currents | Closing: Moss, the SoHo Design Emporium, Is Closing
After 18 years in business, the SoHo design emporium is shutting down its retail space on Greene Street.
Source: http://feeds.nytimes.com/click.phdo?i=488f14e6e546168c6708aba8420aae33
Weekly Market Activity Report - February 14, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of February 14, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_02-14.pdf
Saturday, January 28, 2012
FHA serious delinquency rate inches up while originations decline
The serious delinquency rate for Federal Housing Administration mortgages reached 9.6% in December, the highest level in more than two years, the Department of Housing and Urban Development said.
More than 711,000 FHA-insured loans were seriously delinquent, up 18.9% from one year earlier, according to the HUD report. It's also a 3.2% increase from the month [...]
More than 711,000 FHA-insured loans were seriously delinquent, up 18.9% from one year earlier, according to the HUD report. It's also a 3.2% increase from the month [...]
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Cool and unusual homes for sale
From spinning UFOs in upstate New York to magical kingdoms in Arkansas, these homes offer a truly unusual living experience
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/MsK9ia76z8c/index.html
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Friday, January 27, 2012
The 200+ - February 2011
MAAR's tracking tool for local housing market activity has been updated with data through February 2011.
Source: http://www.mplsrealtor.com/the200plus.aspx
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Foreclosures: America's hardest hit neighborhoods
The housing collapse has dramatically changed the nation's foreclosure landscape.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/RZFU5sOp3Bw/index.htm
Weekly Market Activity Report - May 31, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of May 31, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_05-31.pdf
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Thursday, January 26, 2012
Weekly Market Activity Report - April 18, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of Apr 18, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_04-18.pdf
New York Real Estate Question & Answer
?Landmark? co-op, new windows; a corporation as a neighbor; how co-ops set maintenance fees.
Source: http://feeds.nytimes.com/click.phdo?i=0b5b8bb3d42075cefc65778fd29d5ee5
Wednesday, January 25, 2012
Foreclosures and Short Sales - April 2011
A comprehensive, monthly view of the foreclosure and short sales situation in the Twin Cities housing market.
Source: http://www.mplsrealtor.com/downloads/market/FSS/fss_2011-04.pdf
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The 200+ - May 2011
MAAR's tracking tool for local housing market activity has been updated with data through May 2011.
Source: http://www.mplsrealtor.com/the200plus.aspx
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Weekly Market Activity Report - June 27, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of June 27, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_06-27.pdf
Tuesday, January 24, 2012
Real estate video: moving beyond YouTube
Consider a video platform with flexibility, customization
Source: http://feedproxy.google.com/~r/inmannews/~3/LHGhCcw1m8U/real-estate-video-moving-beyond-youtube
Upgrading a Home Before a Sale - Market Ready
So you inherited a beat-up house. Is it better to sell as is or invest in repairs and upgrades?
Source: http://feeds.nytimes.com/click.phdo?i=db68dc0dcffaeaa0a25ca32c902b3846
Monday, January 23, 2012
Weekly Market Activity Report - May 9, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of May 09, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_05-09.pdf
enotes - June 6, 2011
MAAR's weekly electronic newsletter for the week of June 6, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_06-06.htm
Sunday, January 22, 2012
enotes - February 28, 2011
MAAR's weekly electronic newsletter for the week of February 28, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_02-28.htm
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Mortgage Rate Falls to New Record Low -- Again
Filed under: News
WASHINGTON -- The average rate on the 30-year fixed mortgage fell again this week to a record low. The eighth record low in a year is attracting few takers because most who can afford to buy or refinance have already done so.Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year fixed mortgage dipped to 3.88 percent this week, down from the old record of 3.89 percent one week ago.
The average on the 15-year fixed mortgage ticked up to 3.17 percent from 3.16 percent, which was also a record low. Records for mortgage rates date back to the 1950s.
Mortgage rates tend to track the yield on the 10-year Treasury note, which fell below 1.9 percent this week.
For the past three months, the 30-year fixed mortgage rate has hovered near 4 percent. Yet cheap rates on the most popular mortgage option have done little to boost home sales.
High unemployment and scant wage gains have made it harder for many people to qualify for loans. Many don't want to sink money into a home that they fear could lose value over the next few years.
Previously occupied homes are selling just slightly ahead of 2010's dismal pace. New-home sales in 2011 will almost certainly be the worst on records going back half a century.
Builders are hopeful that the low rates could boost sales next year. Low mortgage rates were cited as a key reason the National Association of Home Builders survey of builder sentiment rose strongly in December and January.
So far, the low rates have had minimal impact. Mortgage applications have risen about 6 percent on a seasonally adjusted basis over the past four weeks, according to the Mortgage Bankers Association. But they are coming off extremely low levels.
To calculate the average rates, Freddie Mac surveys lenders across the country Monday through Wednesday of each week.
The average rates don't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.
The average fee for the 30-year loan rose to 0.8 from 0.7; the average on the 15-year fixed mortgage was unchanged at 0.8.
For the five-year adjustable loan, the average rate was unchanged at 2.82 percent. The average on the one-year adjustable loan fell to 2.74 percent from 2.76 percent.
The average fee on the five-year adjustable loan rose was unchanged at 0.7; the average on the one-year adjustable-rate loan was unchanged at 0.6.
Copyright 2011 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.
Also see:
Rental Prices Climb, Buying Remains More Affordable
The 10 Best U.S. Cities For Families (SLIDESHOW)
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Source: http://realestate.aol.com/blog/2012/01/19/mortgage-rates-fall-to-new-record-low-again/
Saturday, January 21, 2012
Housing Supply Outlook - March 2011
A thorough and detailed look at the current supply of homes for sale and absorption rates by price range, property type and construction status for the Twin Cities housing market.
Source: http://www.mplsrealtor.com/downloads/market/HSO/hso_2011_03.pdf
Mortgages: Mortgages - A Reprieve for Unemployed Borrowers
An extension of forbearance programs by Fannie Mae and Freddie Mac gives short-term aid to unemployed homeowners, but housing counselors warn of drawbacks.
Source: http://feeds.nytimes.com/click.phdo?i=a1ca3ce8957868604b0983d348fa0788
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Friday, January 20, 2012
Weekly Market Activity Report - March 28, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of March 28, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_03-28.pdf
7 steps to soundproof your condo
Enjoy home theater without bothering neighbors
Source: http://feedproxy.google.com/~r/inmannews/~3/QSQfWE_EsSc/7-steps-soundproof-your-condo
Monthly Market Indicators - March 2011
A comprehensive look at the entire Twin Cities housing market in one location.
Source: http://www.mplsrealtor.com/downloads/market/MMI/archive/mmi_2011_03.pdf
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Thursday, January 19, 2012
Wednesday, January 18, 2012
442 tips to keep your house in tip-top shape
Book Review: 'What's a Homeowner to Do?'
Source: http://feedproxy.google.com/~r/inmannews/~3/kN4uT8e-n_Y/442-tips-keep-your-house-in-tip-top-shape
enotes - April 11, 2011
MAAR's weekly electronic newsletter for the week of Apr 11, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_04-11.htm
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Tuesday, January 17, 2012
Friday the 13th Special: Real Estate Superstitions
Filed under: News
By Camille Salama, Zillow Blog ContributorYou may avoid walking under ladders, have never crossed paths with a black cat and have a lucky pair of socks, but have your superstitions affected your real estate decisions?
In honor of Friday the 13th, the most popular superstition in the world, we're taking a look at some of the irrational fears that can make buyers or renters take drastic measures to avoid potential misfortune.
Friday the 13th
Let's start with this unpopular day. It's a relatively common phobia as an estimated 17 to 21 million people are affected by fear of Friday the 13th, causing roughly $800 to $900 million lost in business as people refrain from traveling or buying a new home.
What is your take? Would you sign a mortgage on Friday the 13th or move into a new house?
That Unlucky Number
Many people's fear of Friday the 13th stems from fear of the number 13 itself. Considered to be the number of an occult power, fear of the number 13 is a common phobia. Many buildings don't include floors numbered 13 and some streets and house numbers simply skip over the ominous digits.
There are many things that might sway a decision about where to live and house numbers just may be one of the many superstitions that paralyze home buyers. Despite an age of online property research, and mortgage calculators, the number 13 could loom heavy over a prospective buyer.
According to research analyzed in the book "No. 13: Unlucky/Lucky for Some," one in 10 people who lived at number 13 believed their house number brought them bad luck. Taking it even a step further, researchers conducted a survey in which they asked real estate agents whether people were resistant to buying houses numbered 13. The results showed a whopping 40 percent of agents believed there was considerable resistance that resulted in sellers having to lower their prices.
Feng Shui for Homeowners
Some homeowners turn to the Chinese practice of feng shui to ward away misfortune. A popular method of boosting feng shui is to decorate your home with statues and images of elephants.
There are many applications of the use of elephants in feng shui depending on the material of the elephant and its placement in the home. Some of the more common applications are:
- Placing a statue of an elephant, or a pair of elephants, at the front door brings good luck, protection and strength to the household.
- An elephant or a pair of elephants displayed in the bedroom promotes love and faithfulness between two people.
Saint Joseph, Patron Saint of Real Estate
Those trying to sell a home often feel in need of some divine intervention and a widespread superstition about good old St. Joseph might has to do with real estate. The Catholic saint has long been believed to help with home-related matters and according to some, burying a statue of St. Joseph in the front yard of a home for sale will spur a quick bid. With hundreds of testimonials swearing by the real estate powers of St. Joseph, the practice has caught on; you can even purchase a St. Joseph "home sales kit" online.
Here are some suggestions on how to properly bury your statue:
- Dig a hole near your "For Sale" sign by the street approximately 3 inches deeper than the statue. If you have no yard, use a large plant pot.
- Place the St. Joseph statue facing the street in the hole.
- When covering the statue, prayers should be said. They are very often included in the packaging.
- Once you have sold your home, remove the statue and place it in your new home
Are we missing any other real estate superstitions?
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More on Zillow:
Financial Resolutions for 2012
You Bought a Home and the Basement Flooded. Now What?
See Top 5 Requests for Home Design
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
See celebrity real estate.
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Source: http://realestate.aol.com/blog/2012/01/13/friday-the-13th-special-real-estate-superstitions/
Weekly Market Activity Report - July 5, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of July 5, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_07-05.pdf
Pete Sampras Slices $5 Million Off Estate
Filed under: News
In one broad stroke, tennis champion Pete Sampras just sliced $5 million off the asking price of his compound near Thousand Oaks, Calif. Curbed.com brings word that Pete and his wife, Bridgette Wilson-Sampras, famous for her role as a smoking-hot teacher in "Billy Madison," have brought the price of their massive manse down to $19.95 million.
The Samprases listed the home in the exclusive Lake Sherwood community for $25 million in March 2010, after reportedly moving to a comparatively modest dwelling in Brentwood, Calif., which they purchased for $5.6 million.
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25 million doesn't appear to be Pete's lucky number. (Maybe it's 14, the number of grand slams he won.) The Herculean server previously listed another home for the same price in 2008. He apparently had lobbed it too high, seeing as it ultimately sold for $17 million to "Will & Grace" creator Max Mutchnick.
The compound, which boasts jaw-dropping mountain views, offers a main house that sprawls 13,000 square feet along with a 2,000-square-foot gym and separate guesthouse. It should come as no surprise that the property also has its own tennis court, no doubt where the tennis vet has smacked blistering forehand after blistering forehand.
The expansive home features teak and white oak, imported stones and top-of-the-line finishes. Additional amenities include a giant theater-game room, poker room (makes sense -- Pete was never afraid to take gambles on the court) and an infinity pool.
Jordan Cohen of Estates Director has the listing.
Click on the images below to see more homes for sale in Thousand Oaks, Calif.
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Source: http://realestate.aol.com/blog/2012/01/13/pete-sampras-slices-5-million-off-thousand-oaks-estate/
Monday, January 16, 2012
For Malls, Occupancy Firms Up
U.S. malls and shopping centers experienced a slight improvement in occupancy during the fourth quarter, a relief for landlords that have been battling lackluster demand from retailers for most of the downturn.
Sunday, January 15, 2012
Montana Ranch
Located between the Bitterroot and Sapphire mountains in Hamilton, Mont., this roughly 1,100-acre ranch includes an 8,600-square-foot log home and about a mile of Skalkaho Creek.
Foreclosures fall to lowest level since 2007
Foreclosure filings and repossessions fell to their lowest level since 2007 last year.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/obsuoicC1zg/index.htm
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Saturday, January 14, 2012
International Real Estate: Real Estate in Monaco
The market in Monaco has stabilized since a precipitous fall several years ago, but homes tend to take a while to sell.
Source: http://feeds.nytimes.com/click.phdo?i=c2beb5687b73a180873a2b197ac00d42
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Square Feet: Albanese Plans Office Building for Stylish West Chelsea
At the site of a nondescript warehouse, The Albanese Organization is planning a $140 million, nine-story office building on property abutting the High Line.
Source: http://feeds.nytimes.com/click.phdo?i=83dec48fea676a8acc69b858abe62c30
enotes - April 18, 2011
MAAR's weekly electronic newsletter for the week of Apr 18, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_04-18.htm
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Friday, January 13, 2012
Housing Supply Overview - May 2011
A thorough and detailed look at the current supply of homes for sale and absorption rates by price range, property type and construction status for the Twin Cities housing market.
Source: http://www.mplsrealtor.com/downloads/market/HSO/hso_2011_05.pdf
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Thursday, January 12, 2012
enotes - March 28, 2011
MAAR's weekly electronic newsletter for the week of March 28, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_03-28.htm
Hines Global buys Hopkins building from Cargill for $70M
Hines Global Real Estate Investment Trust bought a 245,000-square-foot building in Hopkins from Cargill Inc. in December for $69.5 million, according to a regulatory filing from the REIT. The seven-story building at 9320 Excelsior Blvd. was the third of three buildings constructed in the Excelsior Crossings development. It opened in 2010 and is LEED Gold certified. Cargill occupies the entire park and has signed a lease for all of the 9320 building that runs through September 2023, according to the filing...
Weekly Market Activity Report - March 7, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of March 7, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_03-07.pdf
Wednesday, January 11, 2012
3 strategies to reap stock market profits
Book Review: 'Laughing at Wall Street: How I Beat the Pros at Investing ...'
Source: http://feedproxy.google.com/~r/inmannews/~3/D6Uc9ur8ju8/3-strategies-reap-stock-market-profits
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JPMorgan Chase 2011 mortgage originations lowest in 10 years
JPMorgan Chase (JPM: 36.05 0.00%) Chief Executive Jamie Dimon told CNBC Monday his bank is originating $10 billion in mortgages per month.
"Obviously, credit is still tight," he said, pointing to the sovereign and banking crises in Europe as dragging down the U.S. economic recovery.
Dimon presented the mortgage origination point as a positive performance point for [...]
"Obviously, credit is still tight," he said, pointing to the sovereign and banking crises in Europe as dragging down the U.S. economic recovery.
Dimon presented the mortgage origination point as a positive performance point for [...]
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Tuesday, January 10, 2012
A quick guide to cloud computing
Making the right choice: public, private or hybrid
Source: http://feedproxy.google.com/~r/inmannews/~3/ohIaRA1zTYo/a-quick-guide-cloud-computing
An Estate on the Ocean
Built in 1928, this English Cotswold-style home in a suburb south of Portland sits on more than 14 acres on the Atlantic coast.
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Monday, January 9, 2012
Foreclosures fall, but outlook isn't bright
Foreclosure filings may have fallen in November but the number of homes scheduled for bank auctions grew significantly, indicating that a new wave of foreclosures are set to take place in the New Year.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/G8UCzqSWPUc/index.htm
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Mike Hoffman Named REALTOR� of the Year
Also noting other award winners in the local real estate industry.
Source: http://www.mplsrealtor.com/downloads/inside/press-releases/news_2011-04-2.pdf
enotes - February 14, 2011
MAAR's weekly electronic newsletter for the week of February 14, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_02-14.htm
Sunday, January 8, 2012
Domestic Lives: Greg Donaldson: In the Hamptons, Saved by Pirates ? Domestic Lives
I found myself entirely reliant on plumbers, carpenters and electricians ? the ?pirates of the East End.?
Source: http://feeds.nytimes.com/click.phdo?i=02473fbdc598c3fa4362d45ed63cb98b
Streetscapes | Brooklyn: Brooklyn/Streetscapes - C. P. H. Gilbert: The Wild Years
Charles Pierrepont Henry Gilbert?s town houses came to define the upper-class residence. But as a young man, he designed some flamboyant, urban dwellings in Brooklyn.
Source: http://feeds.nytimes.com/click.phdo?i=c70f78d4d8b56e238aa3d644ce8f0c08
Saturday, January 7, 2012
Foreclosures and Short Sales - June 2011
A comprehensive, monthly view of the foreclosure and short sales situation in the Twin Cities housing market.
Source: http://www.mplsrealtor.com/downloads/market/FSS/fss_2011-06.pdf
Cracked Foundation Threatens U.S. Housing Recovery
Any recovery in the housing market may be difficult to sustain if the housing-finance system isn't fixed. While politicians have punted on big decisions, they should still act on smaller ones.
Friday, January 6, 2012
Moody's: REITs strong enough to weather recession
U.S. real estate investment trusts are stable enough to weather any new volatility in capital markets or even a renewed recession, according an outlook released by Moody's Investors Service.
REITs receive special tax benefits to invest directly in different real estate markets such as shopping malls, offices and residences.
The only financial firm to issue a [...]
REITs receive special tax benefits to invest directly in different real estate markets such as shopping malls, offices and residences.
The only financial firm to issue a [...]
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Businesses Take Up More Space
The U.S. office market showed modest signs of improvement in the last three months of 2011, as the national office-vacancy rate fell slightly from the previous period.
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Thursday, January 5, 2012
House of the Day: NYC Loft Is Lush Paradise
Filed under: News
New York apartments, like New Yorkers themselves, like to be different -- for better or for worse. From in-home movie theaters, indoor swimming pools, waterfalls and even saltwater aquariums, it seems like Manhattan homes are getting excessively flashy and overly indulgent.
We will, however, make exceptions for certain frivolities, especially those that encourage social interaction and, um, general well-being. Take for example the this $3.395 million loft in New York's Flatiron District. You can keep your waterfalls and aquariums, because this stunning apartment boasts its very own tiki bar. The colorful tiki-style space, decked out with bright, floral prints, a coral-painted countertop, and flanked with miniature framed photographs, is actually hidden within a polished wood built-in living/storage space -- one of many that line the den of this 2,500-square-foot loft -- but no matter. It's still there and Mai Tai-ready, all year-round.
If you're more into wine than tropical cocktails, that's fine too. Oenophiles will delight in a custom-designed wine closet that holds up to 900 bottles of vino. Like the tiki bar, the generous wine closet slides discreetly out of the wall from a pocket door so that temptation can be easily tucked away if necessary.
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Aside from its boozy amenities, you'll find 11-foot-high ceilings, four rooms, two spacious bedrooms, two bathrooms and a state-of-the-art kitchen boasting Miele, Gaggenau and Sub-Zero appliances. The floors are bleached Swedish maple and sunlight streams in through the loft's generous windows into its museum-like space. It's no wonder that the stunning loft has been featured in a number of "renowned publications," its listing agent vaguely reveals.
William Hilliard and Donna Senko from Sotheby's New York have the listing.
Click on the images below to see more homes for sale in New York, N.Y.
See more Houses of the Day on AOL Real Estate.
Got a tip for House of the Day? Know of an exceptional or unusual property currently listed for sale? Please email krisanne.alcantara@huffingtonpost.com with your suggestions and be sure to include links to listing details and photos. (Due to the volume of response, we unfortunately are unable to reply to each submission.)
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
See celebrity real estate.
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Source: http://realestate.aol.com/blog/2012/01/05/house-of-the-day-nyc-loft-is-lush-paradise/
Padilla takes larger role at Marquette after Stofer's death
Ed Padilla has been given a larger share of the responsibility for leading the real estate company owned by the Pohlad Family in the wake of Boyd Stofer's recent death. Stofer, who was president and CEO of Bloomington-based Marquette Real Estate Group, died suddenly Nov. 29, Initially, Marquette Real Estate Group said each of four division heads would continue in their current roles and report directly to Bert Colianni, CEO of Pohlad Family Cos., which also owns the Minnesota Twins. Late last week, the Pohlads announced to its employees that Padilla would assume the title of president and CEO of NorthMarq LLC...
Wednesday, January 4, 2012
103-Year-Old Who Faced Eviction Gets New Lease on Life
Filed under: News
You may recall the story of Vinia Hall, the 103-year-old Atlanta woman who faced eviction on her family home of 53 years in November. She was all but resigned to join the estimated 800,000 homeowners facing lender repossession by the year's end.
But when sheriff's deputies arrived at the residence and found the centenarian living with her 84-year-old daughter, Kathelyn Cornelius, they refused to evict the pair, buying the family some much needed time.
Now, just one month later, not only will the family be allowed to stay in the home, but a public outpouring of support from as far away as Afghanistan is reaching their doorstep, reports the Atlanta Journal-Constitution.
After attracting national media coverage and an online petition with over 33,000 signatures in support of the Halls, JPMorgan Chase, the mortgage holder, came to terms on a repayment plan that allows the family to stay in the home.
(Story continues below)
The family first got into trouble in 2002, when Hall's grandson, Ali Muhammad, took out a second mortgage on the home under his name, the Journal-Constitution reports. By 2009 the payments had become unmanageable, and the home fell into foreclosure.
Even after news of the family's settlement with the lender emerged, well-wishers continued to show their support for the family. Just in time for the New Year, Houston-based mattress company, Mattress Firm, arrived at the residence with $6,000 in bedding and a $600 money order from company employees.
"I appreciate it so much," Hall told the Journal Constitution. "I'm getting too much. I'm going to keep on living."
A similar outcome was reached for Texana Hollis, a 101-year-old Detroit woman who lost her home, much like Hall did, after an imprudent mortgage was taken out by a relative. After a groundswell of support, she too was given her home back.
But with more than 600,000 foreclosure filings in the third quarter of this year, these cases remain an exception to the rule. The foreclosure crisis has claimed the homes of an estimated 2.7 million homeowners between 2004 and 2008, while another 3.6 million are at serious risk of default.
See also:
Delaying Foreclosure, Some Owners Stay Put for Years
2011 In Real Estate: The Top 11 News Stories
Sales Still on the Rise as the Role of Foreclosures Diminishes
News release covering Twin Cities housing statistics for June 2011.
Source: http://www.mplsrealtor.com/downloads/inside/press-releases/news_2011-07.pdf
real estate builders real estate condos real estate downtown
End of Comparison to Heightened Spring 2010 Tax Incentive Market Draws Nigh
News release covering Twin Cities housing statistics for April 2011.
Source: http://www.mplsrealtor.com/downloads/inside/press-releases/news_2011-05.pdf
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Tuesday, January 3, 2012
enotes - February 21, 2011
MAAR's weekly electronic newsletter for the week of February 21, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_02-21.htm
International Real Estate: Real Estate in North Wales
The housing market in Wales took a beating with the global economic downturn.
Source: http://feeds.nytimes.com/click.phdo?i=e434bed771d5942e878e890aa083cf85
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Monday, January 2, 2012
Foreclosures and Short Sales - April 2011
A comprehensive, monthly view of the foreclosure and short sales situation in the Twin Cities housing market.
Source: http://www.mplsrealtor.com/downloads/market/FSS/fss_2011-04.pdf
When Christmas Decorations Get Out of Control
Going crazy with Christmas lights is an American tradition. Less talked about is the difficulty some people have pulling the plug.
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Big Hedge Funds Build Case for Housing
Hedge funds have been buying housing-related investments, betting that the market is poised for a rebound.
Sunday, January 1, 2012
The Hunt: The Hunt - A Larger Place (Couch Must Fit)
Amber and Robert Field wanted to buy a place with an elevator, as well as ample closet space and two bathrooms.
Source: http://feeds.nytimes.com/click.phdo?i=e119e74ae54796e3bfdd88a4afd1658f
Reaching critical mass
It's probable that half of all the low-FICO score and high-loan-to-value loans that were backed by the Federal Housing Administration during the peak of the housing bubble will default.
More than one out of every four loans insured by FHA in 2007 will result in an insurance claim. And that's on top of the $10 billion [...]
More than one out of every four loans insured by FHA in 2007 will result in an insurance claim. And that's on top of the $10 billion [...]
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Source: http://feedproxy.google.com/~r/housingwire/uOVI/~3/uv5jZHNulhM/reaching-critical-mass
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