New Home builders opt for larger homes, down payment: the buyer’s biggest struggle and much more. Here are the real estate headlines you may have missed this week:
The advantages of preapproval (via The New York Times)
The housing market is warming up in many areas, with multiple offers becoming more commonplace. Buyers who want an advantage in the bidding process will need more than a mortgage prequalification – they will need a preapproval. Read Full Story
Shortage of homes for sale creates fierce competition (via Los Angeles Times)
The newest problem for the slowly improving housing market isn’t a shortage of serious buyers, it’s a shortage of good homes. Read Full Story
Down payment biggest obstacle to homeownership (via DSNews)
Feelings about homeownership remain positive in the face of a diminished market, but an uncertain economy and increasing down payments are keeping Americans from making purchases, a report from Integra Realty Resources said.
HARP 2 starts to help the severely underwater (via San Francisco Chronicle)
HARP 2 is starting to pay off for some deeply underwater homeowners. Last fall, the government said it would remove the 125 percent loan-to-value cap and loosen other restrictions that had prevented many homeowners from refinancing under the original HARP. Read Full Story
Big homes are back in business (via The Wall Street Journal)
KB Home says the average square footage of houses currently under contract is 2,079, an increase of 13 percent from last year. That is a change from the past few years, when builders were downsizing houses to accommodate an era of frugality and austerity. Read Full Story
Did you face foreclosure in ’09 or ’10? You may be due money (via U-T San Diego)
More than 4 million people in the U.S. may be eligible for free independent reviews of their foreclosure experiences and could be owed money if mistakes and problems are found, federal officials say. Read Full Story
Probe widens into mortgage lenders (via The Wall Street Journal)
Federal officials are broadening their investigations of mortgage lenders that use a popular federally backed mortgage program, a move that could force more banks to pick up some of the rising tab for losses at the Federal Housing Administration. Read Full Story
Negative equity props up home prices in toughest markets (via HousingWire)
Many housing markets may be undersupplied because underwater borrowers are unable to put their homes up for sale. According to CoreLogic, this paradox may actually be pushing prices upward for some. Read Full Story
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About Daniel Di Matteo
THE REAL ESTATE BUSINESS HAS LESS TO DO ABOUT SELLING PROPERTIES AND EVERYTHING TO DO ABOUT HELPING PEOPLE.
