National News

Foreclosure Filings Decreasing, But Inventory Still a Burden

Foreclosure filings, auctions and repossessions of 214,927 properties displays a 2 percent decrease from April, and a 33 percent drop from May 2010, according to

Housing Market Index Drops Three Points in June

June’s home builder index dropped to a nine-month low, with a monthly Housing Market Index (HMI) drop of three points, resulting in a 13, MarketWatch

MLS Provider FBS Adapts to Policy Changes of IDX Listings

Flex MLS by FBS will now make modifications in order to support MLS customers, in response to the “opt-in” IDX policy established at NAR’s Midyear Conferences in May. According to Agent Genius, FBS is the first major MLS provider

Prices and Transactions Rising on a Monthly Basis

May brought some good news for the housing industry, with RE/MAX’s May housing report finding a 3.3 percent increase from April’s numbers, in closed transactions and a 3.7 percent price increase, according to Housing

Study Finds 71 Percent of Voters Support Mortgage Interest Deduction

A new study from National Association of Home Builders found that approximately 71 percent of the 2,000 voters supported the mortgage interest deduction, according to National Mortgage

Even With Down Market, Agents Have Increased Marketing Budgets

In an effort to embrace trending preferences toward the use of the internet, real estate professionals have increased their online marketing budgets by 27 percent, according to Real

Real Trends Finds Brokers’ Commissions Remain Steady Despite Market

With fluctuations in the housing market, many may assume that brokers’ salaries are also booming and busting depending on sales; however, Real Trends found that average commissions jumped from low levels of 5.02 percent in 2005 to 5.40 percent

Obama Nominates Martin Gruenberg to Replace Sheila Bair in July

Martin Gruenberg, current vice chairman of the Federal Deposit Insurance Corp., is expected to replace current chair of the regulator, Sheila Bair at the completion of her term on July 8, due to a nomination from Obama said Housing

Green Construction Trends Continue to Grow

Green building trends in housing construction and remodeling are growing, and will only continue to increase in the future. According to Housing Wire, Harvey Bernstein, vice president, industry insights and alliances, McGraw-Hill Construction, noted that in 2010, a third

Home Data Index Report Forecasts Long-Term Stabilization

Clear Capital’s monthly Home Data Index Market Report was released today, with the current results demonstrating that quarterly U.S. home prices decreased 2.3 percent; however, this is a sign of improvement in light of last month’s report marking a

Analysts Weigh in on Likelihood of Mortgage Giants Reimbursing Government Investments

In 2008, Fannie Mae and Freddie Mac received $164.4 billion from the Treasury Department; the mortgage giants pay a 10 percent dividend each quarter-leading to a first quarter payment of $12.4 billion from Fannie, and a $11.6 billion payment

Strengthening Listing Prices in 16 Major Cities

Movoto statistics from May show that listing prices rose 2.5 percent since April in 16 major metropolitan areas, establishing an average median listing price of $246,000; inventory for May was also on the rise, with the market acquiring an

Mortgage Applications Down, Refinancing Up

In the continually unpredictable market, mortgage applications fell .04 percent in the beginning of June/end of May, said Housing

Lawmakers Worry About Impact of Proposal

Any adjustments in real estate will impact the sensitive market, but some real estate professionals worry that the widely debated QRM proposal, which requires 20 percent down on all mortgages, will be “detrimental to the housing sector,” said Agent

Homeowners Underwater with Second Mortgages Increase

Almost 40 percent of homeowners nationwide who took out second mortgages are underwater on their loans. That is more than twice the rate of owners who didn’t take out such loans. According to the Wall Street Journal, nearly 40

Study Highlights Pros and Cons of Affordability

“State of the Housing Market,” a report from Harvard University’s Joint Center of Housing Studies showed that 70.8 million Americans can afford a mortgage today, an increase from the amount that could four years

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