Yearly Archives: 2008
In Milwaukee, A Foreclosure Glut
Via Marie Rohde and Ben Poston at the Milwaukee Journal Sentinel, a look at just how much foreclosure activity has impacted the local real estate market: After a record year for foreclosures, a stunning 1,000 Milwaukee County properties already have been scheduled for sheriff’s sales in the first nine weeks of 2008, with a record 200 put up for sale in just one day earlier this month, records show.
State Foreclosure Prevention Group Produces Report On Mortgage Loss Mitigation
WASHINGTON, D.C. -- The State Foreclosure Prevention Working Group, a multi-state task force organized last summer by Iowa Attorney General Tom Miller to work with subprime mortgage loan servicers to reduce the number of unnecessary foreclosures by encouraging loan modifications and other sustainable, long-term solutions, released its first subprime mortgage servicing performance data report on Thursday.
Mortgage Market Meltdown Raises Apartment Demand, But Financial Crisis Crimps Sales and Capital Availability...
WASHINGTON - The ongoing financial market turmoil and its spillover into the broader economy are having a mixed effect on the apartment sector, according to the National Multi Housing Council’s (NMHC) latest Quarterly Survey
Existing-Home Sales to Hold in Narrow Range, then Begin Upward Trend
WASHINGTON, February 07, 2008 - A continuation of soft market conditions is forecast for existing-home sales in the months ahead, with improvement expected by the second half of this year if loan limits are increased, according to the latest forecast by the National Association of Realtors
Fannie and Freddie Reform Will Significantly Impact Housing Market, Says NAR
WASHINGTON, February 07, 2008 - The National Association of Realtors today expressed ongoing support for legislative reform to Fannie Mae and Freddie Mac that would help stabilize the housing market and improve liquidity to the secondary nonconforming market. NAR stressed the importance of permanently increasing the loan limits as part of any reform package; that will help encourage healthier conditions in the housing market and strengthen the national GDP.
Top 10 Rural Places to Live
The Progressive Farmer magazine has released its annual rankings of best places to live in rural counties. The selection is based on school quality, access to health care, low crime, and affordable farmland.
Freddie Mac Sets New Multifamily Record for 2007 Transactions
McLean, VA - February 04, 2008 - Freddie Mac announced today that it purchaseda record $44.7 billion in new multifamily business transactions in 2007, a 55 percent increase over the 2006 volume of $28.8 billion. This volume includes approximately $3.7 billion in targeted affordable housing products, which finance apartments that receive some form of government subsidy.
REALTORS®, Mayors Recognize Miami-Dade for Virtual Housing Center
WASHINGTON, February 01, 2008 - The National Association of Realtors® and the U.S. Conference of Mayors have named Miami-Dade County an Ambassador City for its Housing Central Web portal. The virtual one-stop housing center connects residents with affordable homes and rental units and provides valuable information and resources for area families.
Bush Administration seeks $38.5 billion HUD budget in 2009
WASHINGTON – The Bush Administration’s Fiscal Year 2009 Budget seeks $38.5 billion for the U.S. Department of Housing and Urban Development, which represents a $3.2 billion or nine percent increase over the President’s proposed budget for FY 2008 and $1 billion more than HUD’s current budget authority.
MBA Reports Commercial/Multifamily Originations Down in Q4
Washington, DC - February 4, 2008 - Commercial and multifamily mortgage bankers' loan originations fell on a year-over-year basis in the fourth quarter, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. Fourth quarter originations were sixteen percent lower than during the same period last year.
Mike Sloggatt to Lead Live SIP Demonstrations at IBS
ORLANDO - Professional construction educator Mike Sloggatt will demonstrate SIP installation techniques inside the SIPA Village exhibit at the International Builders’ Show, February 13-16.
REALTORS®, Mayors Recognize Miami-Dade for Virtual Housing Center
WASHINGTON, February 01, 2008 - The National Association of Realtors® and the U.S. Conference of Mayors have named Miami-Dade County an Ambassador City for its Housing Central Web portal. The virtual one-stop housing center connects residents with affordable homes and rental units and provides valuable information and resources for area families
Legislation Would Enable Tens of Thousands of Families in Danger of Foreclosure to Refinance...
Washington, DC – In response to the escalating housing crisis that is devastating communities, shaking our economy, and putting the financial security of millions of families at risk, Senator Hillary Rodham Clinton introduced the Mortgage Refinancing Initiative of 2008 which would provide an opportunity for at-risk households to refinance unworkable mortgages.
Under Secretary for Domestic Finance Robert K. Steel Testimony before the Senate Committee on...
Washington - Chairman Dodd, Ranking Member Shelby, Members of the Committee, good morning, I very much appreciate the opportunity to appear before you today to present the Treasury Department's perspective on "Foreclosure Prevention and Neighborhood Preservation."
America’s Hardest-Hit Foreclosure Spots
What could be worse than getting behind on mortgage payments? Owing your lender more than your home is worth. That's what's happening to homeowners across the country, many of whom just a couple of years ago opted for interest-only or adjustable-rate mortgages.
DOL Grant to Address Shortage of Energy Sector Workers
Under the President's High Growth Job Training Initiative (HGJTI), the Department of Labor Employment and Training Administration (DOL-ETA) has announced the availability of approximately $10 million in grant funds for high-impact regional approaches to meet the workforce challenges of the energy industry and/or address the shortage of construction and skilled trade workers needed to maintain and expand the energy industry infrastructure
NAR Says Economic Stimulus Legislation Will Help Jumpstart Sluggish Housing Market
WASHINGTON, January 29, 2008 - The National Association of Realtors congratulated the U.S. House of Representatives and President Bush for their bipartisan actions to help families in need, the housing market, and the U.S. economy.
U.S. FORECLOSURE ACTIVITY INCREASES 75 PERCENT IN 2007
RealtyTrac the leading online marketplace for foreclosure properties, today released year-end data from its 2007 U.S. Foreclosure Market Report, which shows a total of 2,203,295 foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 1,285,873 properties nationwide during the year, up 75 percent from 2006.
NAREE Real Estate Journalism Competition to Offer More Than $10,000 in Cash Awards
NAREE REAL ESTATE JOURNALISM CONTEST EXPANDS WITH 11 NEW CATEGORIES; $10,000 IN PRIZE MONEY. AWARDS OPEN FOR WEEKLY BUSINESS PAPERS, SPOT NEWS REPORTS; MORTGAGE & HOME DESIGN WRITERS
Among Foreign Investors, U.S. Real Estate Trounces Competition – But Gap between U.S. and...
Despite a growing interest in Asia, U.S. real estate, by a wide margin, has risen to the top of the global property market among foreign investors, with New York City and Washington named the top two global cities for foreign investors' real estate dollars according to the results of the 16th annual survey released today by the Association of Foreign Investors in Real Estate (AFIRE).
