Barclays Capital Predicts More Foreclosures In Near Term

July 2, 2009

Barclays Capital sees more foreclosures through the end of 2010, paired with a continued drop in home prices. Unemployment and a lengthy recession appear to be to blame. The foreclosures are making it difficult for other people selling homes, whether new or old. Until the existing vacant homes see a decline, prices won’t be able to rise significantly.

http://www.bloomberg.com/apps/news?pid=20601103&sid=aAsDvrWg4aJI

Entry Level Market Strong in NYC

July 2, 2009

With jumbo mortgages difficult to obtain, the entry level market in New York City is proving to be the source of strength. Two items driving the surge are factors that should be in play throughout the country: the $8,000 federal tax credit for first-time buyers and a sense of urgency brought about by rising two months of interest rates.

http://money.cnn.com/2009/07/02/real_estate/Manhattan_home_prices_plunge/index.htm?postversion=2009070200

Mortgage Rates Dip to 5.32%

July 2, 2009

Okay, sure, I just finished pointing out that rising mortgage rates are fueling some urgency in buyers. That said, there is still some wiggle room, and rates are expected to move around somewhat as the market continues to stabilize. The government will attempt to keep the rates in the 5% zone, and that should lead to more buying.

http://www.foxbusiness.com/story/markets/market-overview/update–mortgage-rates-fall-freddie-mac-survey/

Lifeline for Underwater Borrowers

July 1, 2009

The Obama administration continues to attack the foreclosure crisis. Help is now being made available to borrowers who owe up to 25% more than the value of their homes. That number allows far more to receive help than the old 5% limit did.

http://www.msnbc.msn.com/id/31685970/ns/business-mortgage_mess/

The Echo Boomer Factor

June 22, 2009

Once the economy has bounced back, the real estate market will benefit from a large demographic known as the echo boomers. About 75 million Americans comprise this group, and they’re all going to be active in the housing market over the next ten years, signaling a possible boom time just around the corner.

http://money.cnn.com/2009/06/21/real_estate/Harvard_state_of_housing/index.htm?postversion=2009062214