Real Estate News Blog March Archive

Coastal prices leveling off

By Art C Ryter at 03/26/07 08:33

Notes that costal real estate prices are leveling off in the Pacific Northwest. Homeowners in the region are not facing foreclosure due to the fall in prices just yet. And some real estate brokers feel that homeowners may not experience a foreclosure crunch as potential retirees, over 80 million, may be considering moving when retirement comes. Of course, it’s hard to know how long people can avoid forclosure by waiting for baby boomers to move.

Original source: The Register-Guard. [404 Check: was link to http:/ / www. registerguard. com/ news/ 2007/ 03/ 21/ b1. bz. florence. 0321. p1. php?section=business, anchor: Coastal prices leveling off]

FINANCIAL FIREWALL? Concern Over Sub-Prime Woes Begins to Recede

Argues that exposure of the larger real estate market economy to the bursting subprime mortgage bubble is limited and that areas such as commercial real estate should not be affected by the rise in foreclosures. This is good news for real estate paper investors, but may have little meaning to homeowners attempting to avoid foreclosure.

Original source: Costar Group. FINANCIAL FIREWALL? Concern Over Sub-Prime Woes Begins to Recede

Private Equity Circles Cash-Desperate Subprime Lenders

States that private equity hedge funds are beginning to invest in subprime mortgage lenders. This could be good news for homeowners needing foreclosure refinancing as some lenders may have the funding to continue their loan programs.

Original source: Seeking Alpha. Private Equity Circles Cash-Desperate Subprime Lenders

Head to Uruguay for real estate deals that let you live la dolce

Cnn thinks that with the U.S. real estate market in the doldrums you should go south, and a long way south at that all the way past Brazil to Uruguay. A tiny South American nation between Argentina and Brazil

Original source: CNNMoney.com. Going Global

Head to Uruguay for real estate deals that let you live la dolce

Cnn thinks that with the U.S. real estate market in the doldrums you should go south, and a long way south at that all the way past Brazil to Uruguay. A tiny South American nation between Argentina and Brazil

Original source: CNNMoney.com. Going Global

Houses cheaper than cars in Detroit

Good news in Detroit is that some houses are cheaper than used cars. Unfortunately, foreclosures coupled with one of the highest unemployment rates in the United States gives rise to housing supply, inflating the real estate market, which makes it harder for homeowners to avoid forclosure by refinancing.

Original source: Yahoo!. [404 Check: was link to http:/ / news. yahoo. com/ s/ nm/ 20070319/ ts_ nm/ usa_ subprime_ detroit_ dc;_ ylt=Ap. 1mYb9x73b1XkjKaaSD_ vMWM0F, anchor: Houses cheaper than cars in Detroit]

Foreclosures Force Suburbs to Fight Blight

Details the actions taken by city and county officials to avoid blight associated with increased foreclosures resulting from defaults on subprime mortgages. Local government is trying to help foreclosure ridden areas avoid falling real estate prices by installing alarms, mowing lawns, and other community oriented projects. Victims of unscrupulous mortgage brokers have been given some assistance by community groups with funding from state and local government.

Original source: The New York Times. Foreclosures Force Suburbs to Fight Blight

Atlantica

Details luxury second homes for sale in the beautiful Dominican Republic. Sales should begin by mid 2007. Real estate prices for this development project are from 650k to over a million. Not bad for luxury Caribbean living with oceanfront views.

Original source: The New York Times. Atlantica

L.A. housing market holds its ground

Notes that the housing market in Los Angeles County is holding its ground despite news of rising foreclosures across the country. Prices also seem to be rising in the area while other real estate housing markets prices are declining. Some mortgage brokers suggest that the subprime mortgage market was not as deep in the county which may explain why inventory hasn’t risen. Looks like people facing foreclosure in Los Angeles County may still be able to refinance or otherwise avoid foreclosure by selling for a slight profit.

Original source: Los Angeles Times. [404 Check: was link to http:/ / www. latimes. com/ classified/ realestate/ news/ la -re -market18mar18,0,685578. story?coll=la -class -realestate -news&track=crosspromo, anchor: L.A. housing market holds its ground]

Helping Families Prepare for the Rise in Subprime Mortgage Forec

States that the rise in subprime mortgage foreclosures may have a greater impact on the larger economy. Foreclosure help from the federal government is suggested as a remedy to the rising tide of foreclosures. Foreclosure refinancing and other financial help is opined to be the most comprehensive way to assist struggling homeowners. Some State and Local governments have homeowner resources that include counseling and programs to help avoid falling behind on payments and avoid foreclosure.

Original source: The Center for American Progress. Helping Families Prepare for the Rise in Subprime Mortgage Foreclosures