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Foreclosures Up 9 Percent in May, RealtyTrac Report Says

Foreclosures Up 9 Percent in May, RealtyTrac Report Says

iStockPhoto/Thinkstock(IRVINE, Calif.) — U.S. foreclosure activity increased nine percent in May compared with the month before, according to a report released Thursday by RealtyTrac.RealtyTrac says nearly 206,000 U.S. properties were in default or fo…

Mega-Rich Foreigners Heat Up Miami’s Luxury Condo Market

Mega-Rich Foreigners Heat Up Miami’s Luxury Condo Market

George Doyle/Stockbyte/Thinkstock(MIAMI) — Miami’s luxury real estate market is a crystal-chandeliered world of multi-million-dollar condo deals, where prospective buyers roll up to open houses in Lamborghinis or on 70-foot-long yachts.  It’s not…

Mortgage Rates Boast Six Week Streak of Record Lows

Mortgage Rates Boast Six Week Streak of Record Lows

Zoonar/Thinkstock(WASHINGTON) — The average rate on a 30-year mortgage dropped to a record-low of 3.67 percent, while the 15-year rate is down to 2.94 percent. This is the sixth straight week of record lows for fixed rate mortgages.Homeowners are not …

Mortgage Rates Plummet to New Records

Mortgage Rates Plummet to New Records

Digital Vision/Thinkstock(NEW YORK) — If you can get a new mortgage or refinance an existing one, interest rates have fallen to incredible new lows.For the first time ever, interest on a 15-year loan has dropped below 3 percent, according to data from…

26% of US Homes Sold in First Quarter Were in Foreclosure

26% of US Homes Sold in First Quarter Were in Foreclosure

iStockPhoto/Thinkstock(NEW YORK) — Foreclosures sales are still dominating the U.S. housing market.  According to RealtyTrac, they accounted for 26 percent of all home sales nationwide in the first quarter of 2012.Daren Blomquist with RealtyTrac …

Dow Climbs into Positive Territory; Facebook Continues to Slide

Dow Climbs into Positive Territory; Facebook Continues to Slide

Hemera/Thinkstock(NEW YORK) — An encouraging read on the housing market helped push the markets up to start the week. The Dow closed up 126 points Tuesday, while the Nasdaq and S&P added 33 points and 15 points, respectively.There are more signs t…

US Home Prices: Has the Tide Turned?

US Home Prices: Has the Tide Turned?

Stockbyte/Thinkstock(WASHINGTON) — Average home prices rose in March compared with February in most of the 20 cities in a Standard & Poor’s/Case Shiller survey out Tuesday – the first time in seven months there’s been a gain.&nbs…

Texas Company Sues Homeowners With Foreclosed Second Mortgages

Texas Company Sues Homeowners With Foreclosed Second Mortgages

iStockphoto/Thinkstock(SUNNYVALE, Calif.) — Ahmed Abdelfatta, a car salesman in Sunnyvale, Calif., bought a 1,170-square-foot home for $675,000 in 2005. His mortgage was about $540,000, and he took out a second mortgage of $135,000 to cover the down p…

9 Most Expensive American Cities

9 Most Expensive American Cities

Jupiterimages/Thinkstock(NEW YORK) — What drives costs in the most expensive cities in the U.S.? The answer is housing. But the nationwide trend of falling home prices won’t knock the city with the highest cost of living, New York, out of the top spo…

Many Americans with Mortgages Still Underwater

Many Americans with Mortgages Still Underwater

Hemera/Thinkstock(WASHINGTON) — Nearly a third of homeowners with a mortgage are underwater, according to a new report, owing more on their loans than their properties are worth.”It’s been a very wrenching housing recession so it’s not something that …

Mortgage Rates Fall Again

Mortgage Rates Fall Again

Zoonar/Thinkstock(WASHINGTON) — Right now could be the best time to buy a home – if you qualify. Prices are close to 10-year lows in most markets, and rates for 30-year fixed mortgages are at their cheapest ever.Mortgage buyer Freddie Mac says t…

Home Sales Jump 3.4% in April

Home Sales Jump 3.4% in April

Stockbyte/Thinkstock(WASHINGTON) — The long-suffering housing market is showing new signs of life, with Americans buying more previously owned homes in April.  The report is another hopeful sign the housing market is at long last improving.&ldquo…

Manhattan’s Million-Dollar Parking Spot

Manhattan’s Million-Dollar Parking Spot

Comstock/Thinkstock(NEW YORK) — It used to be that $1 million could buy you a healthy chunk of real estate–a mansion, maybe, or a few acres of land. But in Manhattan’s tony Greenwich Village, it will buy a parking spot.That’s right: …

Facebook IPO: Will It Boost Silicon Valley Real Estate Prices?

Facebook IPO: Will It Boost Silicon Valley Real Estate Prices?

Peter Foley/Bloomberg via Getty Images(NEW YORK) — Tax revenue from Facebook’s $104 billion IPO may not fill California’s $16 billion budget deficit, but it will likely give a boost to Silicon Valley’s already inflated real estate prices. The median h…

George Lucas’ California Housing Proposal to Become Reality

George Lucas’ California Housing Proposal to Become Reality

Chip Somodevilla/Getty Images(MARIN COUNTY, Calif.) — A defiant George Lucas showed his Indiana Jones-caliber feistiness when the filmmaker ended nearly 25 years of neighborhood opposition to a California studio by announcing the land would instead be…

Foreclosure Filings Down to Lowest Level Since 2007

Foreclosure Filings Down to Lowest Level Since 2007

iStockPhoto/Thinkstock(NEW YORK) — Is the foreclosure crisis in the U.S. nearing its end?  New numbers out Thursday by RealtyTrac show that foreclosure activity is down to a near five-year low across the country.”In April 2012, there were less th…

New Home Construction Up 2.6%

New Home Construction Up 2.6%

iStockphoto/Thinkstock(WASHINGTON) — In yet another sign that the U.S. housing market is slowly improving, the Commerce Department announced on Wednesday that builders broke ground on more new homes last month.The agency said home construction rose to…

Housing: Builder Sentiment Improves, but Still Fairly Low

Housing: Builder Sentiment Improves, but Still Fairly Low

Brand X Pictures/Thinkstock(WASHINGTON) — A new report from the National Association of Home Builders is the latest sign the worst of the housing slump may be over.Builder confidence is at a five-year high; the best it’s been since May 2007, acc…

US Consumer Financial Protection Bureau to Propose New Mortgage Rules

US Consumer Financial Protection Bureau to Propose New Mortgage Rules

iStockphoto/Thinkstock(WASHINGTON) — Even the most sophisticated home buyer can find mortgages daunting. And that’s precisely why the U.S. Consumer Financial Protection Bureau is planning to propose new rules that will simplify things like mortg…

Obama Claims Credit for Refinancing Surge; Critics Doubt Policies’ Role, Impact

Obama Claims Credit for Refinancing Surge; Critics Doubt Policies’ Role, Impact

Official White House Photo by Pete Souza(RENO, Nev.) — After two days with his same-sex marriage position in the spotlight, President Obama Friday sought to shift focus back to the economy, visiting a neighborhood hit hard by the housing crisis, to cl…

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