"DALLAS Who have better credit scores on average -- home buyers with higher or lower incomes? Inside the country's fastest-growing home-mortgage program, the surprising answer is: People with lower incomes have slightly higher FICO scores. That finding, which emerged from a statistical analysis of...
" (2008-5-17)
May 16, 2008
At FHA, a Surprising Result Underpins a Big Change
Housing starts post surprising rebound
"Construction of new homes posted the biggest increase in more than two years in April, but analysts said it’s far too soon to declare an end to the prolonged slump." (2008-5-16)
May 14, 2008
WaMu COO: We're Not Done Hemorrhaging
"Washington Mutual's Rotella says the bank didn't prepare adequately for the housing and credit downturns and expects another $8 billion to $15 billion in charge-offs.
" (2008-5-14)
Accounting Changes Hide Freddie's Flaws
"New practices let the housing giant beat first-quarter expectations; meanwhile RealtyTrac reports U.S. foreclosure filings climbed 65% in April.
" (2008-5-14)
Foreclosure filings continued to climb in April
"More U.S. homeowners fell behind on mortgage payments last month, driving the number of homes facing foreclosure up 65 percent versus the same month last year." (2008-5-14)
Gut Check: Foreclosure's fallout
"In the latest installment of msnbc.com's Gut Check America series, we ask you — our readers — to tell us how mounting home foreclosures are affecting your community." (2008-5-14)
May 13, 2008
Median home prices drop in many cities
"Median home prices fell in two-thirds of the cities surveyed during the first three months of this year, a real estate trade group reported Tuesday." (2008-5-13)
May 12, 2008
Standard Pacific: Bargain or Trap?
"The homebuilder carries a weak credit profile that has only worsened over the past year. But there may be a trade for those willing to take on the risk.
" (2008-5-12)
No-money-down mortages are still happening
"You probably thought nothing-down mortgage loans disappeared in the wake of the American subprime lending crisis, which ensarled much of the world in a credit crunch." (2008-5-12)
Hyper Design
"Even with prohibitive real-estate prices and recession tremors, amazingness lives." (2008-5-12)
Nine houses lost, investor reflects on ‘stumbles’
"A California man who has defaulted on nine homes and expects banks to foreclose on all of them, forcing him into bankruptcy, says he now considers it a mistake to have invested in the real estate market." (2008-5-12)
May 11, 2008
Fight looms over proposed home-appraisal rules
"A major legal brawl is breaking out over how homes are appraised, at what cost and by whom. The outcome could directly affect the price you pay for your next piece of real estate and the amount of mortgage money you can obtain. The fight centers on an...
" (2008-5-11)
Appraisal shake-up sparks ire
"Critics say the 'home valuation code' worked out in N.Y. could negatively affect borrowers nationwide.
WASHINGTON -- A major legal brawl is breaking out over how homes are appraised, at what cost and by whom. The outcome could directly affect the price you pay for your next home and the amount of mortgage money you can obtain.
" (2008-5-11)
Demolition party: A DIY bash
"Having friends over for tear-down work before a remodeling project can save money -- and also lead to personal injury and property damage.
ARNIE AND LILY RICHARDS have helped plenty of friends move or complete minor remodeling projects over the years. So when the couple needed to demolish the concrete patio of their Downey home to make room for a larger kitchen and dining-room addition, they didn't mind asking for help by throwing a demolition party.
" (2008-5-11)
Hang Tight -- It Can't Be This Bad Forever
"I'll admit it: When home prices were soaring in my neighborhood, it made me feel really smart.
" (2008-5-10)
Less intense
"Increasing energy efficiencyIN WONKISH circles, energy efficiency used to be known as ?the fifth fuel?. Now, most blueprints for tackling climate change assume that saving energy has a big part to play. A recent report by the McKinsey Global Institute suggests that energy efficiency alone could get the world halfway to a greenhouse-gas concentration goal recommended by many scientists. Even though overall energy use is rising as the global economy grows, the world is using less energy to generate output; intensity is falling by 1.5% a year. Price is a big factor. In countries with higher fuel prices, there is more incentive for manufacturers and consumers alike to be more energy efficient. America's energy intensity was falling by a 0.4% until the oil shock of 1973. It is now falling by 2% a year. ..." (2008-5-8)
Map of misery
"The house-price bust has a long way to goSOUNDING more like a cartographer than a central banker, Ben Bernanke this week showed off the Federal Reserve?s latest gizmo for tracking America?s property bust: maps that colour-code price declines, foreclosures and other gauges of housing distress for every county. His goal was to show that falling prices meant more foreclosures, and to urge lenders to write down the principal on troubled loans where the house is worth less than the value of the mortgage. His maps?where hotter colours imply more trouble?also make a starker point. The pain of America?s housing bust varies enormously by region. Hardest hit have been the ?bubble states??California, Nevada and Florida, and parts of the industrial Midwest. The biggest uncertainty hanging over the economy is how red will things get. The answer is not simple. It is hard to be sure how much house prices have fallen. America has several house-price indices and they tell different stories. Widely cited, but least useful, are monthly figures showing median home prices produced by the National Association of Realtors (NAR). These indicate that median prices are down some 13% from their peak, but since these averages do not adjust for the mix of homes changing hands, which fluctuates from month to month, they are inevitably distorted. ..." (2008-5-8)
Pending home sales drop to new low in March
"An industry group said Wednesday that pending U.S. home sales dropped to a new low in February, signaling the housing slump has yet to bottom out even as the spring sell season gets under way." (2008-5-7)
Rent a room in your house to airline crews
"Pilots and flight attendants in need of overnight quarters -- 'crashpads' -- can help you meet the mortgage.
WITH foreclosures on the rise and for-sale signs all over neighborhoods, owners across the country are struggling to find ways to meet their payments and stay in their homes. One possible solution is to open your doors to airline employees looking for what is known in the industry as a "crashpad."
" (2008-5-4)
House sitting -- on a grand scale
"Forget staging -- the latest weapon in the savvy seller's arsenal is the home manager. It's a sweet deal for both sides: Owners get occupants who'll maintain that lived-in look and tenants get an upsc
POCKETS OF people across the Southland are living like royalty without it costing them a king's ransom. Take Jim and Laura Fisher, currently basking in about 5,000 square feet of luxury on the water in upscale Huntington Harbor.
" (2008-5-4)
For Loan Seekers, Preparation Is More Important Than Ever
"One of the reasons many subprime loans have failed is because of weak underwriting, a new study suggests.
" (2008-5-3)
If You Can't Sell the Home, Why Not Remodel?
"To sell a home in many parts of the country, sellers need to outshine the competition, must be willing to negotiate on price and have to be prepared for months on the market. It's enough to make some sellers sit this season out, waiting for conditions to improve.
" (2008-5-3)
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