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A grim 2008 in real estate Premium Content

By Inman News, Wednesday, December 31, 2008.

The Federal Reserve and federal government worked to lessen the impact of a financial disaster in 2008 through a series of unprecedented actions that included pumping hundreds of billions of dollars into banks and other financial companies and the takeover of secondary mortgage giants Fannie Mae and Freddie Mac.

Following is a list of 10 top news stories in 2008:  more...

Big-name lenders come tumbling down

By Tom Kelly, Wednesday, December 31, 2008.

What is the top real estate story of 2008? Fannie Mae? Lehman Brothers? Washington Mutual?

A year ago, we discussed how the excessive extension of credit that led to defaults, foreclosures, home prices and more expensive mortgage money was the most talked-about story of 2007.

Everyone in the home buying and refinancing process was complicit, including brokers, bankers, securitizers on Wall Street, wide-eyed consumers and real estate agents.  more...

Use your network as a support net

By Teresa Boardman, Wednesday, December 31, 2008.
Flickr photo by <a href="http://flickr.com/photos/valeriebb/749066382/in/set-72157600703447280/">Valerie Everett</a>.

Business slows down a bit over the holidays but it usually picks up fairly quickly at the beginning of the year. I am already getting calls from people who want to put their homes on the market after the holidays and will be very busy this January.

During the holidays I have had a little extra time to network and to connect with people. I have rediscovered the value of networking. Most of my networking starts on the Internet, but it doesn't end there.  more...

Surge in refis levels off

By Inman News, Wednesday, December 31, 2008.

Interest rates on 30-year fixed-rate loans continue to drop into uncharted territory, but a surge in refinancings appears to be levelling off, two surveys of lenders suggest.

Rates on 30-year fixed-rate mortgage (FRM) loans averaged 5.10 percent with an average 0.7 point for the week ending Dec. 31, down from 5.14 percent last week, Freddie Mac said today in releasing results of its Primary Mortgage Market Survey.  more...

More regulation ahead? Premium Content

By Inman News, Wednesday, December 31, 2008.
Flickr photo by <a href="http://flickr.com/photos/doctorow/2349429860/">gruntzooki</a>.

Tougher rules for those employed in real estate -- especially lenders -- is practically a given, Inman News readers say, but many hope that trade associations like the National Association of Realtors and the Mortgage Bankers Association will have the biggest say in drafting and implementing them.

In a survey of more than 700 Inman News readers, most saw lenders as the likeliest target of new regulations, followed by title insurers, real estate brokers and real estate agents.  more...

Price index drops record 18%

By Inman News, Wednesday, December 31, 2008.

A monthly home-price index that tracks price changes in 20 U.S. metro areas dropped 18 percent in October compared to the same month last year, with the largest declines in Phoenix (32.7 percent), Las Vegas (31.7 percent) and San Francisco (31 percent).  more...