Real Estate News Blog October Archive

Panama Booms as Retirement Hot Spot for Americans

By Art C Ryter at 10/04/07 02:22

Paints a glowing picture of the ease in which retirees with a global outlook can move into Panama and take advantage of benefits the Panamanian government gives pensioners. Americans retiring to Panama can import $10000 dollars worth of goods tax-free. They also have access to world class health care at 50% of the cost of similar care in the U.S.

Panamanians and investors are starting to feel the impact of the U.S. housing credit bubble crunch and prices are starting to decline. It might be smart to wait until the Panamanian government makes infrastructural improvements such as the new sewage plant and more highways.

Original source: . Panama Booms as Retirement Hot Spot for Americans

Iran to Finance Deep Water Port in Nicaragua

The Iranian government has pledged $350M to the construction of a deep water port on the Atlantic in Nicaragua. This infrastructure project is a boon to real estate investors who engage in international trade. The deal also includes assistance to farmers, increase housing supply and the construction of a health clinic.

Original source: . Iran to Finance Deep Water Port in Nicaragua

Mortgage Servicing Errors Leave Homeowners Hanging

Discusses how homeowners have been put in compromising positions due to the mortgage lender practice of selling the original loans to other financial institutions. Some people in Atlanta, Georgia, and in Florida have almost lost their homes to foreclosures to the state because their tax bills were not paid by the mortgage lender from the house's escrow account. There has been little help, outside of hiring a lawyer, for homeowners trapped trying to avoid a foreclosure that is no fault of their own. This is especially difficult with so many lending and servicing businesses going bust due to their poor lending practices that have led to increased foreclosures.

Original source: . [404 Check: was link to http:/ / www. azcentral. com/ business/ articles/ 1002biz -REerrors02 -ON. html, anchor: Mortgage Servicing Errors Leave Homeowners Hanging]

Subprime Lending in Washington Area

Suggests that the overall housing market in Washington, D.C. is trending down and that buyers looking for deals are in the driver's seat. Rising foreclosure rates and a tight mortgage market continue to threaten. If you are in a tight spot, but happened to buy in a good zip code, you may be able to still refinance and avoid foreclosure, because some homes in some areas in Washington are still experiencing slight housing price increases.

Original source: . Subprime Lending in Washington Area

Man Accused of Killing Realtor Ordered to Stand Trial

Man in San Diego, California, killed the real estate agent helping him sell his condo that was in forclosure. All opportunities to refinance and seek other help to avoid foreclosure had past. The man apparently had also recently lost his only relatives adding to the depression of his financial condition.

Original source: . [404 Check: was link to http:/ / www. nbcsandiego. com/ news/ 14255708/ detail. html?rss=dgo&psp=news, anchor: Man Accused of Killing Realtor Ordered to Stand Trial]

The Shadow of Debt

Twenty years ago, the Slavic Village neighborhood of Cleveland was a tightly knit community of first- and second-generation Polish and Czech immigrants. Today, it's in danger of becoming a ghost town, largely because the hundreds of foreclosures that have destabilized the community and local economy. There are whole blocks that seem to have been abandoned leading to increased crime rates. Reinvestment and home mortgage refinance is incredibly difficult under these conditions.

Original source: . The Shadow of Debt

The Federal Housing Administration Loan's Comeback Tour

Recently, though, a steep rise in foreclosures and subprime lenders filing for bankruptcy has had a negative impact on the once popular subprime loan. As the subprime loans are disappearing, the old FHA loan is now making a comeback. Most people who were familiar with the FHA loan prior to its virtual disappearance might not realize that the program as it exists today is very different.

The Federal Housing Administration has had its lending limits raised so as to help more individuals buy homes in the current high priced market. Mortgage limits vary from state to state, but they might be worth looking into if the deal is right. Hopefully loans provided by the Federal Housing Administration will be able to help those feeling the credit crunch work through the dip in the market. These loans do come with tough requirements that must be met - they are generally good things to have checked out.

Original source: . The Federal Housing Administration Loan's Comeback Tour

Long Road to Recovery for Housing Market - Greenspan

The housing market has a long way to go before stabilizing after the subprime crisis, spelling bad news for consumers in the world's biggest economy, former Federal Reserve chief Alan Greenspan said on Monday.

Housing market speculation has run rampant for the past few years. This long gamble may prove too much for those who took on too much credit risk and used their homes as personal atm machines. Forclosures remain high while interest rate changes have had little effect on the credit crunch.

Original source: . Long Road to Recovery for Housing Market - Greenspan

Housing Prices will Continue to Fall

Housing prices in the United States will continue to drop, as new home sales are barely even making a dent in overgrown inventories, former Federal Reserve Chairman Alan Greenspan said Monday.

Inventories are rising and new home sales are stagnant leading to further price declines in the future. Hope for those seeking to refinance their homes to avoid foreclosure may have less options of funding.

Original source: . Housing Prices will Continue to Fall

Auction Buyer Beware

If you're hoping to grab a good house potentially at a great price, you might want to beat a path to your county's courthouse. In today's dour housing market, amid the vast number of properties in foreclosure, more people are converging on courthouses or other places where such properties are auctioned.

Foreclosed homes can be great deals or disasters. When looking to buy foreclosed properties, keep in mind that you may not get to inspect the forclosed property, it might sell for more than the assessed value, or you may be competing with investors with deep pockets.

Original source: . Auction Buyer Beware