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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...

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 Premium Content

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...

Breaking down Boston MLS walls

By Inman News, Thursday, October 2, 2008.

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