Home Prices In 20 U.S. Cities Mark First Gain Since 2010

Home Prices In 20 U.S. Cities Mark First Gain Since 2010
By Shobhana Chandra - Aug 28, 2012

Home prices in 20 U.S. cities climbed in June from a year earlier, the first gain in almost two years, indicating the market that triggered the recession is beginning to rebound.
The S&P/Case-Shiller index of property values in 20 cities increased 0.5 percent from June 2011, the first gain since September 2010, a report from the group showed today in New York. The median forecast of 29 economists surveyed by Bloomberg News called for a 0.05 percent drop. Nationally, prices jumped

Towns for Sale

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Towns for Sale

Buy Your Way to “Mayor”
Aug 13, 2012
News items pop up regularly about entire towns and villages going up for sale. In April, Buford, Wyo., sold to a Vietnamese buyer for $900,000. The same month, a couple bought the tiny town of Wauconda, Wash., for $360,000. In May, the French “ghost village” of Courbefy sold to an American photographer for about $643,000.

Housing Starts In U.S. Fall As Permits Reach Four-Year High

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Housing Starts In U.S. Fall As Permits Reach By Four-Year High

Shobhana Chandra - Aug 16

New-home construction in the U.S. fell in July, while the number of building permits jumped to the highest level in four years, indicating the industry will keep improving in the second half of the year.
Starts fell 1.1 percent to a 746,000 annual rate from June’s 754,000 pace, Commerce Department figures showed today in Washington. The median estimate of 79 economists surveyed by Bloomberg News called for 756,000. Building permits, a proxy for future construction, rose to an 812,000 pace,

Homebuilder Confidence In U.S. Increases To Five-Year High

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Homebuilder Confidence In U.S. Increases To Five-Year High

By Shobhana Chandra - Aug 15, 2012
Confidence among U.S. homebuilders climbed in August to the highest level in more than five years, affirming the improvement in residential construction.
The National Association of Home Builders/Wells Fargo builder confidence index rose to 37, higher than projected and the best showing since February 2007, according to figures from the Washington-based group released today. The median forecast in a Bloomberg survey of economists called for no change from July’s 35. Readings below 50 mean more respondents said conditions were poor.
Builders such as PulteGroup Inc. (PHM) are benefiting as less- expensive properties and record-low mortgage rates entice buyers. At the same time, faster hiring and fewer foreclosures are needed to

New foreclosures jump 9% in second quarter

New foreclosures jump 9% in second quarter

By Les Christie @CNNMoney July 12, 2012
NEW YORK (CNNMoney) -- Foreclosures showed few signs of slowing during the first half of the year, with a sharp increase in new filings occurring during the second quarter.
More than one million homes had foreclosure filings -- notices of default, auction notices and bank repossessions -- during the first six months of 2012, up 2% from the previous six months, according to RealtyTrac, an online marketer of foreclosed properties.
And while the number of filings was down 11% from the first six months of 2011, 20 states still saw a marked year-over-year increase. Foreclosure filings in Indiana, Pennsylvania, South Carolina, Connecticut, Florida and Illinois increased by 20% or more.

Consumer bureau proposes rules for risky, high-cost mortgages

Consumer bureau proposes rules for risky, high-cost mortgages

By Blake Ellis @CNNMoney July 9, 2012
NEW YORK (CNNMoney) -- The Consumer Financial Protection Bureau proposed rules Monday aimed at protecting more borrowers from getting stuck with mortgages carrying high rates and fees or risky terms.
The government's consumer watchdog is seeking to allow more consumers to qualify for the protections offered by the Home Ownership and Equity Protection Act (HOEPA) by expanding the definition of what qualifies as a "high-cost mortgage." It's also offering more safeguards for these borrowers.

Foreclosures made up 26%

Foreclosures made up 26% of U.S. home sales in first quarter

By Jessica Dickler @CNNMoney May 31, 2012

NEW YORK (CNNMoney) -- Homes in some stage of foreclosure accounted for more than one in four home sales during the first three months of the year, according to a report released Thursday.

Distressed properties that were either in default, scheduled for auction or bank-owned accounted for 26% of all residential sales during the first quarter, up from 22% in the previous quarter and 25% a year earlier, RealtyTrac said.

Altogether, 233,299 distressed properties were purchased during the quarter, an 8% increase from the previous quarter. Those homes sold for an average of $161,214, 27%

Increase the Value of Your Home

10 Ways to Increase the Value of Your Home

4/30/2012
By Katie Adams | Investopedi

In a dour housing market, wouldn't it be nice to know that your remodeling project would pay off when you went to sell the property? Remodeling Magazine evaluated the top remodeling projects, how the cost-to-value has changed since the housing market implosion, and which projects are still worth the investment. Using the magazine's "Cost Vs. Value Report for 2008-2009," let's look at some of the best projects you can undertake and recoup the majority of your cost.
Upscale Projects

Siding Replacement (fiber-cement or foam-backed vinyl). With the economic slump, home buyers aren't being dazzled by bells and whistles as much as they are improvements that will ensure lower repair and

Contracts for US homes rose last month

By Christopher s. Rugaber, AP Economics Writer | Associated Press
WASHINGTON (AP) -- The number of Americans who signed contracts to buy U.S. homes rose in March, the latest sign the battered housing market is slowly improving.
The National Association of Realtors says its index of sales

Home prices???!!!

US home prices drop for 6th straight month
Home prices fall in most US cities for sixth straight month, as housing struggles to recover
By Christopher s. Rugaber, AP Economics Writer | Associated Press

WASHINGTON (AP) -- Home prices dropped in February in most major U.S. cities for a sixth straight month, a sign that modest sales gains haven't been enough to boost prices.
The Standard & Poor's/Case-Shiller home-price index shows that prices dropped in February from

                                   US home sales fell in March, as market stays weak

US previously occupied home sales fell 2.6 percent, signaling housing market still weak

WASHINGTON (AP) -- Americans bought fewer previously owned homes in March, a sober reminder that the housing market remains weak.
The National Association of Realtors says home sales fell 2.6 percent to a seasonally adjusted annual rate of 4.48 million. That followed a revised 4.6 million sold in February.
A mild winter may have encouraged more people to buy earlier, essentially stealing sales from March.
January and February made up the best winter for sales in five years. The increase offered some encouragement ahead of the spring-buying season. Still, sales remain far below the 6 million per year that economists equate with healthy markets.
First-time buyers, who are critical to a housing recovery, rose to 33 percent of all purchases last month. In healthy markets, they make up at least 40 percent. 

By Derek Kravitz, AP Economics Writer