Source: http://www.mplsrealtor.com/downloads/enotes/2011_06-13.htm
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Thursday, May 31, 2012
More than 30% of mortgage borrowers still underwater
Despite rising home prices, more than 30% of borrowers, or close to 16 million homeowners, were underwater on their mortgage during the first quarter, according to Zillow.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/kWbC1qYIJyY/index.htm
Wednesday, May 30, 2012
Foreclosures and Short Sales - March 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_2011-03.pdf
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Home buying at most affordable level in decades
Buying a home has reached its most affordable level in more than two decades.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/08Abc6KAzbQ/index.htm
Feds expected to loosen QRM down payment requirement
A group of federal regulators will likely lower the proposed 20% down payment requirement for home-loan lenders who wish to avoid holding added credit risk on the securitization of mortgages. "They're not talking about 20% anymore," said Rep. Barney Frank, D-Mass. "I think 20% is high, but it has to be."
Source: http://feedproxy.google.com/~r/housingwire/uOVI/~3/5EWFlZ04hRA/feds-will-likely-lower-20-down-qrm
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Tuesday, May 29, 2012
Zeller: Newly refinanced LaSalle Plaza is not for sale
Zeller Realty isn't selling LaSalle Plaza. The Chicago-based commercial real estate company recently completed a refinancing of LaSalle Plaza with U.S. Bank Commercial Real Estate, a unit of Minneapolis-based U.S. Bancorp. Neither Zeller or US Bank would disclose terms of the deal, but sources estimated the loan was worth about $92 million. The refinancing will enable Zeller to reduce its borrowing costs, reinvest cash-flow in the property and complete the leasing and construction of some remaining...
Virginia Castle Off the Beltway
This 16,000-square-foot home in northern Virginia overlooking the Potomac River takes its cues from European castles by way of Washington, D.C.
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Monday, May 28, 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
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
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'Bachelorette' House Looking for Love at a New Price
Filed under: News, Celebrity Homes
The North Carolina estate that provides the setting for season eight of "The Bachelorette" -- currently airing on ABC -- is on the market for $5.89 million, significantly higher than its pre-broadcast price.
According to Zillow.com, the six-bedroom, 8½-bath house in Charlotte "is a European-style mansion with stucco and stone exteriors," boasting 12,000 square feet of living space. Its deluxe features include "a two-inch think marble floor that runs from the home's entrance down its main hallway."
But the home's love affair with marble goes even deeper than that. "There are beautiful houses all over," said listing agent Nick Peters of Peters and Associates, "but this one has an official grand ballroom with a 20-foot-high fireplace made of solid marble. The room also has gold-glazed mahogany trim, silk window treatments and gorgeous lighting."
Outside, the 5-acre property features a sweeping lawn ("big enough to land a helicopter," Zillow reports), a slate courtyard, and a saltwater pool with mosaic-tiled waterfall.
Built in 2006, the home was listed for $3.9 million before "The Bachelorette" came to town (for only its second season outside of Los Angeles; the third season filmed in New York). It went on the market in 2006 priced at $7.89 million, before several discounts.
The sellers are obviously hoping that the house's new, high profile will help. Nick Peters certainly thinks so: "You can't really showcase a house with photos," he explained. "I'll bring in a professional photographer, but the way that it shows on TV ... it's breathtaking. You can't get that from a photo shoot."
See what you can get from a photo shoot by checking out the gallery below.
%Gallery-155996%
And here's a link to the listing.
Click on the images below to see more homes for sale in Charlotte, N.C.
See also:
Live in a Kardashian 'Home,' Near Clooney
Seattle's Escala: 'Fifty Shades of Grey' Love Nest
Golf Course Estate Leaves Trump in the Rough
More on AOL Real Estate:
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Source: http://realestate.aol.com/blog/2012/05/23/bachelorette-house-looking-for-love-at-a-new-price/
Sunday, May 27, 2012
Weekly Market Activity Report - May 23, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of May 23, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_05-23.pdf
Saturday, May 26, 2012
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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enotes - June 20, 2011
MAAR's weekly electronic newsletter for the week of June 20, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_06-20.htm
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Friday, May 25, 2012
George Lucas?s Plans in Marin County Upset Wealthy Neighbors
Facing opposition to a new studio in Lucas Valley, George Lucas said he would bring low-income housing there instead, inflaming wealthy neighbors in Marin County.
Source: http://feeds.nytimes.com/click.phdo?i=dad8734f0f7e150372549c2b0c9e6b72
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Stitching Together a Mansion
The dream was to unite all nine apartments at 828 Fifth Ave., restoring the original single-family mansion. But the owners are giving up with a few puzzle pieces still missing.
Markit to price CMBS bonds with Trepp data
Both companies said investors are demanding more data to more effectively price bonds, especially in the volatile commercial mortgage-backed securities market.
Source: http://feedproxy.google.com/~r/housingwire/uOVI/~3/8GBdqSZjv9Q/markit-price-cmbs-bonds-trepp-data
Thursday, May 24, 2012
New-home inventories shrinking
Sales still slow, but up nearly 10 percent from a year ago
Source: http://feedproxy.google.com/~r/inmannews/~3/EW-4YY3tFQk/new-home-inventories-shrinking
Wednesday, May 23, 2012
Sales Up, Foreclosure Rate Drops as Distressed Segment Leans Toward Recovery
News release covering Twin Cities housing statistics for May 2011.
Source: http://www.mplsrealtor.com/downloads/inside/press-releases/news_2011-06.pdf
Home buying at most affordable level in decades
Buying a home has reached its most affordable level in more than two decades.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/08Abc6KAzbQ/index.htm
Home and Garden Tours Around the Country
Across the country, spring tours give visitors a chance to inspect houses and visit interesting gardens.
Source: http://feeds.nytimes.com/click.phdo?i=1b3f2f39e0a8086b2806c0320f018a00
Tuesday, May 22, 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
Plunging (Carefully) Into Real Estate
Many small businesses are finding ways to minimize the downside risk of getting into real estate.
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Monday, May 21, 2012
Fed's Lockhart will not rule out QE3
Lockhart spoke to the Institute of Regulation & Risk in Tokyo, telling the audience his economic outlook shows modest growth over the next few years. And while there is no need for QE3 right now, it is too soon to say the Fed will never acquire large assets again as a tool for economic stimulus.
Bloomberg Strikes Deal to Redevelop Land Near Citi Field
A 1.4-million-square-foot mall and parking garage is planned for one side of the Mets? stadium in Queens, with a hotel and stores on the other side.
Source: http://feeds.nytimes.com/click.phdo?i=71c0eaca84fe11ce7a7b0b945aee29ff
Sunday, May 20, 2012
Caribou HQ to be sold to Canadian REIT Artis
The building that houses the corporate headquarters of Caribou Coffee is under contract to be sold to Artis Real Estate Investment Trust, a Winnipeg, Manitoba-based company. Caribou (Nasdaq: CBOU) is a tenant in one of the properties in a four-building portfolio being sold by Real Estate Recycling, the Minneapolis-based company that developed the property. Artis (AX_u: Toronto) announced Monday that it has a contract to purchase the group of properties from Real Estate Recycling for $38 million....
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City Room: Big Ticket | Sold for $52.5 Million
The investor Howard Marks and his wife bought a 30-room duplex at 740 Park. The seller was Courtney Sale Ross, the widow of the Time Warner executive Steven J. Ross.
Source: http://feeds.nytimes.com/click.phdo?i=e5f12b74162e7cbe2599d745e0c91070
On the Market in New York City
A United Nations area co-op, a SoHo co-op and a South Slope condo.
Source: http://feeds.nytimes.com/click.phdo?i=e5e50b9c19e67c9af1e5a251efb14f33
Saturday, May 19, 2012
Mortgage rates hit record low again
Buying a home just got even cheaper as interest rates on both 30-year and 15-year-fixed-rate mortgages set record lows for the third week in a row.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/oJnGRH5h-K8/index.htm
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Friday, May 18, 2012
Mortgages: Mortgages - How to Pump Up Your Credit Score
Experts offer tips on how to raise your score most effectively.
Source: http://feeds.nytimes.com/click.phdo?i=2807b06d190cc77c10319458f00a7426
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Sales Up, Foreclosure Rate Drops as Distressed Segment Leans Toward Recovery
News release covering Twin Cities housing statistics for May 2011.
Source: http://www.mplsrealtor.com/downloads/inside/press-releases/news_2011-06.pdf
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More than $500B needed to meet Basel III rules, analysts say
Analysts at Fitch Ratings estimate the 29 global systemically important financial institutions, or G-SIFI, need to raise $566 billion in common equity in order to satisfy new Basel III capital rules.
Thursday, May 17, 2012
Seacrest Buys DeGeneres' Home at $12 Million Discount (VIDEO)
Filed under: News, Celebrity Homes
Ryan Seacrest, host of American Idol, has officially purchased talk show host Ellen DeGeneres's Beverly Hills estate for $37 million. DeGeneres originally asked $49 million for the 3-acre property, which has a 9,200-square-foot main house, three guest houses, an outdoor pool, covered lounging and dining areas, and koi ponds.
%Gallery-135734%More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
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Source: http://realestate.aol.com/blog/2012/05/17/ryan-seacrest-buys-ellen-degeneress-home-for-37m-video/
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RealtyTrac: Foreclosure filings near 5-year low
Homes that received a foreclosure filing fell 14% in April from a year earlier as activity fell off significantly in California, Arizona and Nevada.
Wednesday, May 16, 2012
Mortgage Points: When It's Smart to Pay More Upfront
Filed under: News, Advice, Financing
Pay more now for a chance to save much more later? That's the idea behind paying "points" on a mortgage loan. But it doesn't necessarily make sense for every homeowner.
Mortgage points provide an opportunity for borrowers to lower their monthly mortgage payments by paying a lump sum at a loan's closing in exchange for a lower mortgage interest rate over the course of a loan.
Mortgage points are a smart option for borrowers who plan to stay in the same mortgage and not refinance for a relatively long period of time. But points are not recommended for borrowers who are likely to relocate or refinance in the not-so-distant future.
Borrowers pay points in order to lower their mortgage interest rates by a certain amount. The cost of one point is equal to one percent of the mortgage amount. In the case of a 30-year fixed-rate mortgage, paying one point will typically lower your interest rate by somewhere around one eighth of a percent, according to Tim Dwyer, chief executive officer of Entitle Direct, a title insurance company.
So if borrower A paid one point on a $200,000 mortgage with what would have been a 4 percent interest rate, she would lower her interest rate to 3.875 percent (4 percent -- 1/8th percent) for the cost of $2,000.
A good way of looking at points is to view them as an investment that "yields a return for the longer you stay in your house," mortgage expert Jack Guttentag writes.
If Borrower A stays in the same mortgage for only a few years before selling her home or refinancing, she may end up not saving enough in monthly payments to justify paying the $2,000 upfront. But if she stays in the mortgage for a longer period of time, she eventually breaks even on her investment and enjoys saving money every month from there on out.
"If the points are reasonable, I want to pay that upfront and enjoy the interest rate savings over 10 years because I know I'm not going to refinance," Dwyer says. But if "you're a young couple" and "you know you're going to have more babies, you know you're going to be moving out," then you should avoid paying points.
Banks may offer 10 or more point combinations on any given loan, Guttentag writes, and borrowers often don't end up selecting the option that aligns most with their interests, simply out of ignorance. You can use a point calculator to find out how long it would take to break even using different point combinations.
In a perfect world, borrowers would pay points only if it benefited them in the long run. But, in fact, many borrowers pay points out of necessity. Why?
Lenders will only allow borrowers' monthly mortgage payments to equal up to a certain percentage of their monthly income. Often they will only approve loans for borrowers whose monthly mortgage payments would not exceed 28 percent of a borrower's monthly income.
Paying points allows a borrower who otherwise wouldn't qualify for a loan because of income limitations to lower his or her monthly payment to the extent that the bank is willing to make the loan.
Some banks offer "negative points," a rebate paid by lenders toward a borrower's closing costs. "Negative points" lower closing costs for a mortgage, but raise its monthly interest rate. They can be a good option for borrowers who are hard-pressed to cover closing costs with zero points or who intend on moving or refinancing in a few years.
See also:
Mortgage Jargon in Simple Terms
Real Estate Terms and What They Mean
Don't Be Surprised by Expenses of Homeownship
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
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5 popular options for cloud storage
Dropbox now competing with industry heavyweights 
Source: http://feedproxy.google.com/~r/inmannews/~3/ZViIAHV2sh4/5-popular-options-cloud-storage
Tuesday, May 15, 2012
Weekly Market Activity Report - May 2, 2011
MAAR's Weekly Market Activity Report for the Twin Cities ? Week of May 02, 2011.
Source: http://www.mplsrealtor.com/downloads/market/WMAR/Archive/WMAR_2011_05-02.pdf
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Three Minneapolis buildings win BOMA regional awards
The downtown Minneapolis headquarters of Target Corp. has won a top regional award from the Building Owners and Managers Association. The Target (NYSE: TGT) building, known as Target Plaza, won in the corporate facility category of The Outstanding Building of the Year (TOBY) competition. The building has 1.5 million square feet of office space and has more than 5,500 people working inside. Two other downtown Minneapolis buildings also won regional TOBY awards. The Wells Fargo Plaza snagged the...
Co-op Board Rejects Sheik Seeking Two of Huguette Clark?s Homes
The sheik, who is the prime minister and foreign minister of Qatar and a member of that country?s royal family, hoped to buy two apartments at 907 Fifth Avenue and join them together as one.
Source: http://feeds.nytimes.com/click.phdo?i=d716f5b8a799730d7ce7a4820fb42a47
Monday, May 14, 2012
Mortgage Rates Hit Lowest Point Ever, Again
Filed under: News
Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan ticked down to 3.83 percent. That's the lowest since long-term mortgages began in the 1950s. And it's below the previous record rate of 3.84 percent reached last week.
The 15-year mortgage, a popular option for refinancing, dropped to 3.05 percent, also a record. That's down from last week's previous record of 3.07 percent.
Low mortgage rates haven't done much to boost home sales. Rates have been below 4 percent for all but one week since early December. Yet sales of both previously occupied homes and new homes fell in March.
Why Loans Are Still Out of Reach
There have been some positive signs in recent months. January and February made up the best winter for sales of previously occupied homes in five years. And builders are laying plans to construct more homes in 2012 than at any other point in past 3½ years. That suggests some see the housing market slowly starting to turn around.
Still, many would-be buyers can't qualify for loans or afford the higher down payments required by banks. Home prices in many cities continue to fall. That has made those who can afford to buy uneasy about entering the market. And for those who are willing to brave the troubled market, many have already taken advantage of lower rates -- mortgage rates have been below 5 percent for more than a year now.
Mortgage rates are lower because they tend to track the yield on the 10-year Treasury note. Slower U.S. job growth and uncertainty about how Europe will resolve its debt crisis have led investors to buy more Treasurys, which are considered safe investments. As demand for Treasurys increases, the yield falls.
To calculate the average rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week.
Some Fees Drop Too
The average rage does not 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 30-year loans was 0.7 last week, down from 0.8 the previous week. The fee on 15-year loans also was 0.7, unchanged from the previous week.
The average on one-year adjustable rate was 2.73 percent last week, down from 2.7 percent the previous week. The fee on one-year adjustable rate mortgages was 0.5, down from 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.
See also:
Avoiding Foreclosure: More and Better Options Available Now
Foreclosure Rehab: Ramping Up the Battle Against Blight
More on AOL Real Estate:
Find out how to calculate mortgage payments.
Find homes for sale in your area.
Find foreclosures in your area.
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Source: http://realestate.aol.com/blog/2012/05/11/mortgage-rates-hit-lowest-point-ever-again/
6 ways to get a great mortgage deal
Finding an affordable house is no longer a problem but qualifying for a mortgage can be. Six tips to getting a mortgage and a good rate.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/l-bM6qjwjGM/index.htm
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Sunday, May 13, 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
On the Market in New York City
A Chelsea loft, an Upper East Side co-op and a Bay Ridge 2-bedroom.
Source: http://feeds.nytimes.com/click.phdo?i=e5e50b9c19e67c9af1e5a251efb14f33
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Jumbo Co-op Combo Is No Go
An Upper East Side co-op board struck a blow against ultrawealthy buyers who are looking combine smaller co-ops into ever-larger trophy apartments.
Saturday, May 12, 2012
enotes - March 21, 2011
MAAR's weekly electronic newsletter for the week of March 21, 2011.
Source: http://www.mplsrealtor.com/downloads/enotes/2011_03-21.htm
Friday, May 11, 2012
Pino v. BNY Mellon case hinges on interpretation of procedural rules
The justices' decision in the case will decide whether banks and other parties who allegedly commit some type of filing fraud can terminate the issue by voluntarily dismissing the foreclosure lawsuit.
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Thursday, May 10, 2012
Mortgage rates hit record lows
Average rates for both 15-year and 30-year fixed mortgages fell to new all-time record lows this week, according to a report released by Freddie Mac Thursday.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/I4bEPOVmDpY/index.htm
Despite Record Low Rates, Refinancing May Not Be Best Bet
Filed under: News
NEW YORK -- With mortgage rates setting record lows, refinancing has an obvious appeal to any homeowner who passed up earlier opportunities. In fact, refinancing could make sense even for those who got their current mortgage as recently as a year ago.Today, the 30-year fixed-rate loan charges a mere 4 percent, according to the BankingMyWay.com survey. It was 5 percent this time last year.
So, should you take the refi plunge?
At first glance, the refi decision seems cut and dried. If you'll have the loan long enough for its lower payments to offset the refinancing fees, it will pay. But the rigid mathematical approach doesn't always fit real life. Refinancing may be a good bet even if the numbers don't say so, or a bad bet even if they do.That' s because refinancing calculators require a certain amount of guesswork. No one knows, for example, what tax rates rates will be in the future. And, of course, if your crystal ball said mortgage rates would drop even further, it would pay to wait.
Most importantly, no one really knows how life will change the most critical factor in the decision: How long you'll stay in the home.
Consider a homeowner only 12 months into a $300,000 fixed-rate 30-year mortgage charging 5 percent. Refinancing the $295,574 balance with a new 30-year loan at 4% would pay for itself in 22 months under the most conservative calculation, according to the Refinance Breakeven Calculator. This assumes a 25 percent federal income tax rate and $3,756 in closing costs for a loan charging zero points, or upfront interest charges that reduce the loan rate.
Most people have a pretty good idea whether they'll stay in their home for the next two years, so this refi looks like a pretty good bet.
But suppose you wanted a rock-bottom rate. By paying 1 point, equal to 1 percent of the loan amount, you might get a rate around 3.875 percent, but increase your closing costs to $6,711, and extend the break-even time to 37 months from 22. Stay in the home longer than 37 months and the points would definitely be a good investment, cutting interest costs by about $8,000 over 30 years compared to the 4 percent loan.
Read more on TheStreet:
Cisco to Become the Next Apple: Undervalued by 200%
3 Steps to Deciding a 30- vs. 15-year Mortgage
10 Essentials For Summer Travel Survival
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.
Now on sale at Costco: Mortgages
Costco shoppers can not only find bulk-packs of chicken wings, 24-rolls of toilet paper and large-screen TVs at a discount. They can now land themselves a mortgage.
Source: http://rss.cnn.com/~r/rss/money_realestate/~3/_b7pLhJprEg/index.htm
Wednesday, May 9, 2012
Challenging Brutalist Building Under Threat
Brutalism goes on trial in Goshen, N.Y., Thursday, and if it loses, the penalty will be demolition.
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