Housing recovery under way, decrease in homes for sale, life after bankruptcy and much more. Here are the real estate headlines you may have missed this week:
Shortage of California homes up for sale (via San Francisco Chronicle)
After years of having too many homes and not enough buyers, real estate agents in California now have the opposite problem – too many buyers and not enough homes for sale. Read Full Story
Two-thirds of Americans with mortgages pay 5 percent interest or higher (via Los Angeles Times)
Rougly 69 percent of American homeowners with mortgages at the end of the second quarter had rates of 5 percent or higher and about 33 percent of them had rates above 6 percent, according to mortgage data by CoreLogic. Read Full Story
For-sale listings drop again, led by California cities (via The Wall Street Journal)
Inventories fell in August by 1.2 percent from July, bucking a seasonal pattern of a slight uptick before the summer season ends. Listings were down by 18.7 percent from one year ago and 34.1 percent from two years ago, according to a report from Realtor.com. Read Full Story
Housing recovery blossoms (via CNNMoney)
The Census Bureau said housing starts and permits rose substantially in August. Separately, sales of previously occupied homes climbed 7.8 percent from a year ago, according to the NATIONAL ASSOCIATION OF REALTORS®. Read Full Story
Life after bankruptcy (via The New York Times)
Many people who file for bankruptcy think that it will be many years before they can obtain a mortgage or refinance an existing home loan, if they ever can – perhaps because notice of a bankruptcy filing typically stays on a credit report for 7 to 10 years. In reality, they could become eligibile in as little as one year, as long as they work diligently to improve their financial picture. 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.
