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'Mortgage starvation' stunts recovery

By Lou Barnes, Friday, July 17, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/dotdoubledot/2422647740/" target=blank>sandman</a>.

Long-term rates jumped this week, and the 10-year T-note rose to 3.6 percent from 3.28 percent at last week's low, the principal push delivered by a 500-point surge in the Dow.

Mid-summer is the "silly season," when a shortage of serious news elevates "Man Bites Dog" to the front page. This stock rally was short-covering, and bonds are on constant selling edge because of runaway deficits. New data could be read as green-shoot, or L-shaped non-recovery, but none were trend-changers.  more...

Goal for loan mods, refis 'within reach' Premium Content

By Matt Carter, Friday, July 17, 2009.

The Obama administration's goal of helping up to 9 million homeowners refinance their mortgages or obtain loan modifications "is well within reach," according to a Wells Fargo executive in charge of the bank's loan servicing division.

Wells Fargo refinanced about 750,000 mortgages in the first half of the year, and provided 200,000 trial and completed loan modifications -- nearly double the same period a year ago, said Mary Coffin, executive vice president of Wells Fargo Home Mortgage Servicing.  more...

Blind faith in loan mod backfires

By Tara-Nicholle Nelson, Friday, July 17, 2009.

Q: I haven't made the payment on my house in 11 months. Shortly after I bought it a couple of years ago, I became ill and it has been a struggle to keep it with my health problems and having to stop working on occasion. It is a two-unit property; I live in one side and rent the other side out, but my tenants have already given me notice that they're moving out in a couple of weeks. I've been applying over and over for loan modifications, but the bank refuses to bring my loan balance down in line with what my house is currently worth. So, I gave up.

I met with my real estate broker to list it as a short sale last week, but the day after we met, I received a notice of trustee sale in the mail. It says I have only three weeks before the bank auctions my home off.  more...

High-tech turns parking into profits

By Arrol Gellner, Friday, July 17, 2009.

In cities from Chicago to Austin to Berkeley, old-style mechanical parking meters are rapidly being replaced by a new type known as a multispace meter. If your town doesn't have them yet, you'll be getting them soon enough. But unless you work for your city government, you may not find this much cause to celebrate.

Cities like to bill the new multispace units as being more convenient for consumers, but experience indicates otherwise. To park in a multispace meter zone, you walk from your car to the meter, which can be some distance down the block. Once there, you buy a paper permit imprinted with the expiration time. Then you go back to your car to put the permit in the windshield, and finally go on your merry way.  more...

Pros' guide to window screen replacement

By Paul Bianchina, Friday, July 17, 2009.

It's getting to be that time again. The windows are open, and the bugs are clamoring at the window screens, trying to come in and join the party. If a few too many of these uninvited guests are getting in, it's probably time to get that damaged screening replaced. Luckily, this is a great do-it-yourself project that you can take care of in no time.

To do your own window screen replacement, all you'll need is some new screening material and a simple re-screening tool, both of which are available at home centers and hardware stores. Screening is available in both fiberglass and aluminum, but the fiberglass is much easier to work with and is the preferred choice for most applications. It's available in different widths, so purchase one that's a minimum of 2 inches wider than the screen frame itself.  more...

The Realtor road warrior Premium Content

By Joseph Ferrara, Friday, July 17, 2009.
Utah Realtor Robert Bolar's four-wheeled real estate office.

His name is Robert Bolar. He is a Realtor for Coldwell Banker in Ogden, Utah. Robert's been a regular top producer, working the upscale part of town. This year he is in the top 4 percent of all Coldwell Banker agents nationwide. Yeah, big deal, Joe, so what?

Robert does this without an office. Well, not a traditional office. His office is his car. Yep. His Toyota Prius is tricked out -- not with fat tires and fuzzy dice but with technology that lets him do business as a real estate agent faster than the competition.  more...

Putting the 'short' back in short sale

By Steve Bergsman, Friday, July 17, 2009.
Flickr photo by <a href="http://www.flickr.com/photos/letheravensoar/523916111/" target=blank>Letheravensoar</a>.

Lately, homebuyers are seeing more and more short-sale opportunities, but it seems as if fewer purchases are actually being completed. The perception in this case is correct. The short-sale process has become a nightmare: it goes on forever, sometimes never coming to a satisfactory conclusion even after months of effort.

All I can say is hang in there, folks, help is on the way.  more...

Builder confidence rebound lackluster

By Inman News, Friday, July 17, 2009.

Builder confidence rebounded in July to a level not seen since September, but far more builders still see conditions as "poor" than "good," according to a survey by an industry trade group.

The National Association of Home Builders/Wells Fargo Housing Market Index rose two points in July, to 17, NAHB said. The index gauges builder perceptions of current single-family home sales and sales expectations for the next six months. When the seasonally-adjusted index is above 50, more builders view sales conditions as good than poor.  more...