Home

New foreclosures triple in Los Angeles area

By Inman News, Thursday, October 2, 2008.

New foreclosure auctions nearly tripled in the Los Angeles metro area, doubled in Seattle and rose about 60 percent in the New York City and Miami areas in the third quarter compared to the same quarter last year, real estate data company PropertyShark.com reported Thursday. Compared to second-quarter 2008, new foreclosure auctions rose 16 percent in New York City, 9 percent in Los Angeles and 2 percent in Seattle while dropping 5 percent in Miami.  more...

Deck railings become fun and exciting

By Paul Bianchina, Thursday, October 2, 2008.

Deck railings can do a lot for the appearance and especially the safety of any outdoor deck. So when designing and building your new deck, there are a number of things to take into consideration.  more...

Sales continue to fall in Manhattan

By Inman News, Thursday, October 2, 2008.

Manhattan home sales dropped 24.1 percent in the third quarter compared to the same quarter last year -- the third consecutive year-over-year quarterly decline, according to a report today.  more...

Seller 'gift' may disguise problem

By Bernice Ross, Thursday, October 2, 2008.

It's common for buyers to ask for appliances or other personal items when they purchase a property, but what about the seller who voluntarily leaves personal items as part of the sale?

There are numerous pitfalls when it comes to dealing with personal property included in a real estate sale. The lender can deduct the value of the personal items from the appraised value of the property, which results in a reduction in the loan amount. Furthermore, many states require sellers to transfer personal items with a "bill of sale" calculated and reported separately from the real estate sale.  more...

Ban on down-payment aid takes effect

By Inman News, Thursday, October 2, 2008.

Nehemiah Corp., a nonprofit corporation that has offered a privately funded down-payment assistance program to buyers since 1997, is continuing to push for reinstatement of its program after a ban on such assistance for borrowers seeking FHA loans took effect on Wednesday, Oct. 1.  more...

Future virtual tours will tag the real world

By Inman News, Thursday, October 2, 2008.

At the recent TechCrunch50 event, Japanese company TonchiDot demo’d its new iPhone application called Sekai Camera to wild enthusiasm.

TonchiDot’s idea is to use the iPhone camera and location awareness as a mobile information interface. Using the Sekai Camera application you can tag real-world locations and simultaneously view the tags shared by other users - Tonchidot calls it “Air Tagging”.  more...

Oct

2
2008

What foreclosure leaves behind

By , Thursday, October 2, 2008.

A disturbing video that shows what is left behind in the wake of foreclosure.  more...

Divided views on homeownership benefits

By Inman News, Thursday, October 2, 2008.

About 49 percent of homeowners said they believe their home is a great long-term investment, according to a survey conducted for online real estate company Trulia.

And most survey participants don't plan to move in the next year. The survey, conducted by Harris Interactive, found that 92 percent of homeowner respondents and 70 percent of non-homeowners plan to stay at their current residences for at least the next 12 months.  more...

Hope for Homeowners program launches

By Inman News, Thursday, October 2, 2008.

Hope for Homeowners, a program created by Congress to assist homeowners at risk of loan default and foreclosure that will allow some homeowners to refinance into more affordable FHA-insured mortgages, launched Wednesday.

An estimated 400,000 homeowners could avoid foreclosure through participation in this program, which is voluntary for lenders and is scheduled to run through Sept. 30, 2011.  more...

Mortgage rates hover above 6%

By Inman News, Thursday, October 2, 2008.

Mortgage rates barely budged this week, with rates on long-term loans rising slightly and those on short-term loans dipping, Freddie Mac reported today.

According to Freddie Mac's weekly survey, the 30-year fixed-rate mortgage inched up to 6.1 percent from 6.09 percent last week, compared with 6.37 percent a year ago. The 15-year fixed mortgage rate averaged 5.78 percent, up from 5.77 percent a week ago, but is still lower than 6.03 percent a year ago. Points that borrowers paid to attain these rates averaged 0.6.  more...

Real estate pros market services on Zillow

By Inman News, Thursday, October 2, 2008.

Zillow.com today announced the launch of the Zillow Professional Directory, a free resource for real estate professionals to market their services to consumers interested in buying, selling or conducting home renovations.

Consumers can search for professionals by specialty, business name, city, ZIP code or neighborhood.  more...

The changing face of real estate offices

By Inman News, Thursday, October 2, 2008.

Editor's note: The following is a reader comment made on the Sept. 25 Inman News column, "Office space and the 'floor time' continuum."  more...

Mortgage applications drying up

By Inman News, Thursday, October 2, 2008.

Mortgage applications last week dove 23 percent as banks continued to tighten their credit standards, making it tougher to qualify for loans.

Last week's decline, which is seasonally adjusted and compares to one week earlier, was driven by a large drop-off in refinancing applications (-34 percent) and purchase applications (-10.9 percent), according to the Mortgage Bankers Association. The group reported that its Government Purchase Index, comprised largely of FHA loan applications, fell 14.1 percent.  more...

Home values fall hardest in Southwest

By Inman News, Thursday, October 2, 2008.

In a study that tracks changes in price per square foot in 25 U.S. metro areas, Radar Logic today reported that nearly all saw prices drop between July 2007 and July 2008.

The lone exception -- Milwaukee, Wis. -- posted growth in its price per square foot of 2.9 percent, to $121.55.  more...