Home prices keep rising across the country as the lack of homes available for sale continues. Here are the real estate headlines you may have missed this week:
Factoring in commuting costs (via The New York Times)
A recent study by the Center for Housing Policy and the Center for Neighborhood Technology
suggests that borrowers of moderate means would be smart to calculate the costs of commuting
before buying. Read Full Story
Most aid from mortgage settlement in state going to short sales (via Los Angeles Times)
Big banks are giving billions of dollars to distressed California homeowners through a landmark mortgage settlement – but mostly to get people out of their homes rather than help them stay. Read Full Story
Home sales climb 2 percent in October (via CNNMoney)
Existing home sales rose to an annual rate of 4.79 million, seasonally adjusted, the NATIONAL ASSOCIATION OF REALTORS® reported. Read Full Story
FHA’s biggest loser: No-money-down mortgages (via Wall Street Journal)
One of the biggest reasons the Federal Housing Administration is facing severe financial woes is a problem agency officials identified and sought to correct years ago. Read Full Story
Home prices increase in most major U.S. cities (via Yahoo! Finance)
Standard & Poor’s/Case-Shiller reported Tuesday that its 20-city index of home prices rose 3 percent in September compared with the same month last year. Read Full Story
Wells Fargo offers down-payment grants (via San Francisco Chronicle)
As part of its settlement of U.S. Dept. of Justice charges that it allegedly steered black and Hispanic borrowers into high-cost subprime mortgages, Wells Fargo is providing $50 million nationwide for down-payment grants, as well as paying another $125 million directly to borrowers believed by the Justice Dept. to have been adversely impacted. 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.
