Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_07-05.pdf
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Wednesday, February 29, 2012
Weekly Market Activity Report - July 5, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of July 5, 2011.
Weekly Market Activity Report - March 14, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of March 14, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_03-14.pdf
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Fed nets $2.8 billion return on Maiden Lane II
The Federal Reserve Bank of New York sold the last of its former American International Group assets for a $2.8 billion net gain.
Tuesday, February 28, 2012
New home construction starts strong in 2012
New home construction got off to a strong start for the year, with housing starts and building permits rising in January on a monthly and annual basis -- another sign that the U.S. housing market and broader economy are headed in the right direction.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/mN49AIN9GW8/index.htm
Monday, February 27, 2012
NABE predicts moderate GDP growth for 2012
The U.S. will experience moderate gross domestic product growth this year, with the economy growing 2.4% and picking up the most speed in the second half, according to a survey from the National Association of Business Economists.
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New home construction starts strong in 2012
New home construction got off to a strong start for the year, with housing starts and building permits rising in January on a monthly and annual basis -- another sign that the U.S. housing market and broader economy are headed in the right direction.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/mN49AIN9GW8/index.htm
Sunday, February 26, 2012
Job growth drives consumer sentiment to year high
Consumer sentiment rebounded from a midmonth dip to finish February at the highest level in a year, buoyed by recent employment gains.
enotes - February 7, 2011
MAAR's weekly electronic newsletter for the week of February 07, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_02-07.htm
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Saturday, February 25, 2012
Fewer homeowners missing mortgage payments
The mortgage meltdown that began five years ago appears to be reversing course as the percentage of loans that fell into delinquency slowly returned to normal rates and fewer loans fell into foreclosure.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/UC6mUQ23c9k/index.htm
Friday, February 24, 2012
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
The Freedom, and Perils, of Living Alone
Living alone means freedom to come and go and space and solitude to recharge. It can also unleash eccentricities.
Source: http://feeds.nytimes.com/click.phdo?i=d2b2d725abae183a7f0b96a1a0d8edc4
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Foreclosed Homeowners Get More Time to Request a Review
Filed under: News
Borrowers who think banks improperly foreclosed on them between 2009 and 2010 now have more time to request an independent review that could compensate them.The Office of the Comptroller of the Currency and the Federal Reserve announced Wednesday that they are extending the deadline for qualified borrowers to ask for an investigation of possible malpractice in their foreclosure cases. Borrowers now have until July 31, 2012, to request review. The deadline had been April 30.
The two agencies said they extended the deadline to "encourage the broadest participation possible" in the program, according to a joint statement.
The announcement comes on the heels of another directive recently announced that also is designed to offer restitution to homeowners for foreclosure misdeeds. A $25 billion settlement reached between the nation's five largest mortgage servicers and state attorneys general may funnel an average of $2,000 to homeowners who illegally lost their homes to foreclosure during the period from Jan. 1, 2008, to Dec. 31, 2011.
Consumers may learn more about the extended review program, which is free, by visiting http://independentforeclosurereview.com/, or calling 1-888-952-9105.
While the program represents an earnest effort by the government to protect borrowers, consumer advocates have raised concerns over the execution of the reviews. They claim the auditors selected to conduct the reviews face a conflict of interest, since many of them have worked with the banks that they are commissioned to investigate.
"The independent auditors that have been selected all have longstanding relationships with the banks and are interested in protecting those banks," Ira Rheingold, executive director of the National Association of Consumer Advocates told The Huffington Post.
3.2 million Americans have been kicked out of their homes by banks since the housing meltdown, according to analytics firm CoreLogic. Against the backdrop of ramped-up government oversight, foreclosures plummeted in 2011. But the settlement has offered clarity to banks regarding what they can and cannot do when foreclosing on borrowers, experts say, making it likely that they will move forward with foreclosures that they had previously put on hold. Recent statistics lend credence to the prediction.
The foreclosure marketplace RealtyTrac this week reported an uptick in foreclosure filings last month, a trend which it predicts will continue for the year.
Daren Blomquist, vice president of RealtyTrac, told CNNMoney that he expects new foreclosure filings to jump from 1.9 million in 2011 to between 2.2 million and 2.5 million in 2012.
Also see:
Billboard House Advertises Way Out of Housing Crisis
How the Foreclosure Settlement Could Affect You
Foreclosure Fire Sale: Will Bulk 'REO to Rental' Program Fly?
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
Find homes for rent in your area.
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Source: http://realestate.aol.com/blog/2012/02/16/foreclosure-review-program-deadline-extended-to-july-31/
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Thursday, February 23, 2012
MBA: Rising rental costs may drive home sales up
Home sales could turn out sunnier than expected this spring based on data coming out of the rental market, according to economists at the Mortgage Bankers Association.
Weekly Market Activity Report - March 21, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of March 21, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_03-21.pdf
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Wednesday, February 22, 2012
Weekly Market Activity Report - June 20, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of June 20, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_06-20.pdf
'Avatar' Blues for Builder
Development company Avatar Holdings has to change its name because of confusion with the popular "Avatar" movie.
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Tuesday, February 21, 2012
New York apartment sells for a record $88 million
The most expensive apartment ever sold in Manhattan went for a cool $88 million this week.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/oQNOHBE74i4/index.htm
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The Appraisal: Not Grumbling About Rent by 2nd Ave. Subway Construction
On Second Avenue, a new corridor of real estate bargains has opened for those willing to live with the inconveniences of construction.
Source: http://feeds.nytimes.com/click.phdo?i=2cb000e2770d13b91a04eb9baa99465a
Monday, February 20, 2012
RE/MAX January home sales rise for seventh straight month
For the seventh straight month, home sales in January inched higher, climbing 3.4% above levels seen a year earlier.
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Weekly Market Activity Report - June 13, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of June 13, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_06-13.pdf
Sunday, February 19, 2012
Housing Supply Outlook - February 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_02.pdf
Lux discusses possible office conversion of Block E
Bob Lux is working to promote his ideas for a back-up plan should the state not approve a casino plan for the troubled Block E development in downtown Minneapolis.
Lux was interviewed on WCCO-AM radio this afternoon about Plan B for the site if the $300 million casino plan doesn't get passed by the state legislature this session. The Star Tribune has more details on Lux' plans in its Monday edition.
In an interview with WCCO-AM's Chad Hartman, Lux discusssed carving the center into about 350,000-square-feet of office space, a couple of restaurants, and a small amount of retail...
Lux was interviewed on WCCO-AM radio this afternoon about Plan B for the site if the $300 million casino plan doesn't get passed by the state legislature this session. The Star Tribune has more details on Lux' plans in its Monday edition.
In an interview with WCCO-AM's Chad Hartman, Lux discusssed carving the center into about 350,000-square-feet of office space, a couple of restaurants, and a small amount of retail...
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Mortgages: Mortgages - A Fixed-Rate Alternative
Buyers who think they might be relocating in the near future, or need to shore up savings, may want to consider hybrid ARMs, which offer several years at a fixed interest rate.
Source: http://feeds.nytimes.com/click.phdo?i=b6454a93eba91a55d05ddfe72fac65a1
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Saturday, February 18, 2012
Where the Secrets Were Kept
In some New York City homes, tap the walls or peer into the back of a closet, and who knows what you might find. A hidden staircase, a secret passageway, or walls that pivot could lead to unknown territory.
Source: http://feeds.nytimes.com/click.phdo?i=8fdbb9afe1bbe883a0c4f6bf9f7f484a
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Housing Supply Overview - June 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_06.pdf
Friday, February 17, 2012
Posting: Housing for Artists Gains Tax Break
Work on the conversion of an East Harlem school to housing and work space for artists is expected to start soon.
Source: http://feeds.nytimes.com/click.phdo?i=976dbd9af30e30a864cb113c34294fdf
Thursday, February 16, 2012
In the Region | New Jersey: New Jersey | In the Region ? A Broker?s Domain of Domain Names
A broker who owns 1,300 Internet domain names, all real estate related, plans to build a hyperlocal network for home buyers.
Source: http://feeds.nytimes.com/click.phdo?i=874269af9466e8405f09003c640db8ff
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Living Very Large
For a small cadre of very wealthy owners, building big is back. A bird's-eye view of some of the mega mansions going up across the country.
Mortgage rates hit another new low
Just one day after President Obama detailed a proposal to enable millions of homeowners to refinance to record-low mortgage rates, those rates notched another record.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/_XuZ8GzvJro/index.htm
Wednesday, February 15, 2012
What the foreclosure settlement means for you
The nation's five largest banks have finally struck a deal with 49 states to settle charges of abusive and negligent foreclosure practices dating back to 2008.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/a9I13YfViQE/index.htm
Tuesday, February 14, 2012
Square Feet: Energy Spurs a Recovery in Houston Real Estate
Rising oil prices and a boom in shale exploration are leading companies to add office space in the Houston area, most notably Exxon Mobil.
Source: http://feeds.nytimes.com/click.phdo?i=97c09ce9771ab9fbf404abb69cd1c16f
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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Monday, February 13, 2012
Developments Get Back to the Plan
As more financing and private-equity investments begin to flow into residential real estate, some mothballed development plans are being revitalized.
Avoid costly garbage disposal fixes
Steps to take the next time your unit malfunctions
Source: http://feedproxy.google.com/~r/inmannews/~3/fJt02llI5ns/avoid-costly-garbage-disposal-fixes
Sunday, February 12, 2012
Pyramid Cos.' Carousel Plan Rides Again
Developer Robert Congel's drive to create one of the largest malls in the country, in Syracuse, N.Y., is back in gear after almost being upended by the economic downturn and a nasty court battle with Citigroup.
Top 10 turnaround towns
Florida's cities were some of the hardest hit by the housing bust, but now they are leading the charge back. Of Realtor.com's top 10 turnaround towns, eight are in the Sunshine State.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/EFiB2AGT9uk/index.html
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Saturday, February 11, 2012
On the Market in New York City
A Flatiron condo, a Midtown South co-op and a Brooklyn Heights carriage house.
Source: http://feeds.nytimes.com/click.phdo?i=46a42537a3f8c6c2e65353d649023375
Foreclosures and Short Sales - February 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_2011-02.pdf
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HUD awards $1.8B to improve, preserve country's public housing stock
The U.S. Department of Housing and Urban Development awarded nearly $1.8 billion to public housing authorities to make improvements in their housing stock.
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Friday, February 10, 2012
Nevada strikes separate $780 million settlement with BofA
Nevada Attorney General Catherine Cortez Masto struck a separate deal with Bank of America in conjunction with the $25 billion foreclosure settlement this week.
Thursday, February 9, 2012
Is It Better to Buy or Rent?
Compare the cost of renting and buying equivalent homes.
Source: http://feeds.nytimes.com/click.phdo?i=10805a92ab7eab41532213d83b15c357
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Historic Status Offers No Protection in Beijing
The demolition of a historic house in the imperial city, once home to famous architects who championed historic preservation, is a cruel blow to conservationists.
Source: http://feeds.nytimes.com/click.phdo?i=7bbadca86bf2c5521290854dd16e78ae
Wednesday, February 8, 2012
Square Feet: Trinity Church Leads Transformation of Manhattan?s Hudson Square
Trinity Church is the largest landlord in Hudson Square and is part of the effort to rezone the area to residential from manufacturing.
Source: http://feeds.nytimes.com/click.phdo?i=a8691dc297d4fd3f7579860588d8b6d8
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Tuesday, February 7, 2012
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
Monday, February 6, 2012
Obama mortgage refinance plan accelerates equity rebuild
One option under the most recent refinancing plan from the Obama administration would allow borrowers to not only surface from underwater but actually begin building equity in their home at a quicker pace.
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Sunday, February 5, 2012
City Room: Big Deal | The World at Its Feet
Wealthy investors are wiring millions of dollars to New York to snatch up a piece of 157 West 57th Street - what will be New York City's tallest residential building, with 90 floors overlooking Central Park.
Source: http://feeds.nytimes.com/click.phdo?i=d8330767936f9ad6c92562f19578c3d3
Weekly Market Activity Report - February 21, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of February 21, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_02-21.pdf
Saturday, February 4, 2012
30-Year Mortgage Rate Falls to 9th Record Low in a Year
Filed under: News, Economy, Financing
WASHINGTON -- The average rate on the 30-year-fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. But even with the cheapest rates in history, the housing market remains depressed.Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.87 percent this week. That is below the previous record of 3.88 hit two weeks ago.
The average on the 15-year fixed mortgage fell to 3.14 percent, 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.
Rates have been low for more than a year, and the average rate on the 30-year loan has hovered near 4 percent for more than three months. Yet few people can afford to buy a home or qualify for a loan. Many of those who can have already done so.
High unemployment and scant wage gains have made it harder for many others to qualify for loans. Still others don't want to sink money into a home that they fear could lose value over the next few years.
Sales of previously occupied homes were dismal last year. New-home sales in 2011 were the worst on records going back half a century.
Builders are hopeful that the low rates could boost sales next year. But so far, they have had a minimal impact.
Mortgage applications have risen slightly 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 fell to 2.80 percent from 2.85 percent. The average on the one-year adjustable loan rose to 2.76 percent from 2.74 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 2012 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:
Open Houses of the Week: Super Bowl Weekend
Distressed Sales Undercut Home Prices in 2011, Study Says
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Friday, February 3, 2012
enotes - February 7, 2011
MAAR's weekly electronic newsletter for the week of February 07, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_02-07.htm
Club Med Looks West For Fresh Powder
To cap a companywide renovation that started eight years ago, Club Med has chosen an unlikely destination: the ski slopes of North America.
Thursday, February 2, 2012
Become your kid's mortgage lender
Between slumping prices and low mortgage rates, it's a good time to look for real estate bargains. But thanks to tightened lending standards, legions of young would-be homebuyers aren't exactly in a position to take advantage of the opportunity. That's where their parents come in: One in three first-time buyers received either a gift or a loan from their families to help buy a home in 2011, according to the National Association of Realtors.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/ocfIUtd0ibo/index.htm
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Lereta acquires LPS Property Tax Solutions
Lereta said it has acquired the real estate tax services business of LPS Property Tax Solutions, a wholly owned division of Lender Processing Services.
Wednesday, February 1, 2012
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
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China's housing market is set for a hard landing
The numbers are grim: China's property bubble is heading for a spectacular burst, and its effect on the country's economy will be widespread.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/yIMjDVDEaCY/
Housing Supply Overview - April 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_04.pdf
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