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Feb

19
2007

Hot off the Trulia presses

By Bradley Inman, Monday, February 19, 2007.
Trulia bags Keller Williams.  more...

Herrrrrrrre's Arrol!

By Bradley Inman, Monday, February 19, 2007.
Matt Heaton laid a big compliment on Inman News columnist Arrol Gellner. Below is the column that Matt mentioned. Enjoy. American architecture turns drab By Arrol Gellner Traveling the United States has, among other things, gently tutored me that the...  more...

Up, down and all around

By Bradley Inman, Monday, February 19, 2007.
The New York Times reported today on renewed hyperventilating in the NYC housing market. Multiple bids by bonus babies. It is the same story in the Silicon Valley and parts of SF Bay Area -- option baby, Google/YouTube/VC frenzy, return...  more...

Home-seller financing not without risk

By Jack Guttentag, Monday, February 19, 2007.

"When does it make sense for a home seller to take back a second mortgage?"

Most sellers who take back second mortgages from buyers view them as investments that can yield an attractive rate of return. However, I don't view them as very good investments unless a seller can obtain a higher price on the sale. While the promised rate may be high, second mortgages are riskier than first mortgages, and few sellers are qualified to assess the risk.  more...

Is remodeling worth the expense?

By Dian Hymer, Monday, February 19, 2007.

Remodeling magazine's 19th annual "Cost vs. Value Report" could give prospective home remodelers a cause for concern. According to the report, the cost of remodeling increased at the same time that the return on the dollars invested decreased.

Like the recent correction in the home sale market, the remodeling boom of recent years appears to be returning to more normal levels.  more...

Lenders make compromise to avoid foreclosure

By Robert Bruss, Monday, February 19, 2007.

DEAR BOB: I am four months late on my mortgage payments because of a job loss. Now I am in the process of foreclosure. What are my options? I am back working again but do not have all the money yet to catch up on my monthly payments. Any advice? --Jawanna P.

DEAR JAWANNA: Please don't bury your head in the sand, as many borrowers who are in mortgage default do. Instead, contact your mortgage lender immediately by phone.

Purchase Bob Bruss reports online.  more...

Winners and losers in DOJ lawsuit

By Inman News, Monday, February 19, 2007.

Editor's note: Inman News challenged readers to debate the outcome of the Justice Department lawsuit against the National Association of Realtors. We posed the question, "Who loses if DOJ wins?" and received an array of responses at the Inman News Blog. This article pulls from those comments.

The ongoing battle between the U.S. Justice Department and the National Association of Realtors continues to strike a nerve among industry participants.  more...

Stewart earnings tumble 51%

By Inman News, Monday, February 19, 2007.

Stewart Information Services Corp. on Friday reported its 2006 earnings were down significantly from 2005 despite strong performance in the fourth quarter.

Net earnings for 2006 fell to $43.3 million, down 51 percent from $88.8 million in 2005. Earnings per share totaled $2.36 for the year, compared with $4.86 in 2005.

Revenues for 2006, however, set a record at $2.5 billion, the company reported, up 1.7 percent from 2005.  more...

Overnight real estate rates stall

By Inman News, Monday, February 19, 2007.

Long-term mortgage interest rates were mostly flat Friday, and the benchmark 10-year Treasury bond yield dropped to 4.69 percent.

The 30-year fixed-rate average held at 5.77 percent, and the 15-year fixed rate dipped to 5.54 percent. The 1-year adjustable stayed at 5.39 percent.

The 30-year Treasury bond yield decreased to 4.79 percent.

Rates are current as of 7:15 p.m. Eastern Standard Time.  more...

Housing is 'wild card' for Fed

By Lou Barnes, Monday, February 19, 2007.

Mortgage rates stabilized near 6.25 percent at the close of last week, with the 10-year T-note providing gravity in a range near 4.7 percent. The bond market has done a lot of intra-day bouncing, trying to find a level after a two-month, straight-line run-up in rates, then a downward correction, and then the Federal Reserve Chairman's annual testimony to Congress.

Bouncing was a sensible thing to do.  more...