In the second quarter (Q2) of 2011, 31 percent of all home sales in the country were a foreclosure sale. And that number would be much larger, say analysts, if it were not for foreclosure delays stemming from the robo-signing fiasco last fall. While this number is significant, some analysts believe that it is not actually the most important figure Read full article »
Tag archives for Distressed Real Estate
Non-Distressed Housing Market is Shrinking
REO and Short Sales Make Up Nearly Half of California Pending Home Sales
If you are buying real estate in California, the odds are almost fifty-fifty that you are putting money down on some sort of distressed property, be it real estate owned (REO) property or a short sale home. According to the California Association of Realtors (CAR), around 48 percent of pending home sales in California are REO or short sales, with Read full article »
Robo-Signer Fallout: Foreclosure Homes May Not Be So Appealing
In Florida, the fallout from the robo-signer debacle last fall is still ongoing, and it is impacting one of the most important aspects of the real estate market today: foreclosures. In South Florida, foreclosure sales fell 11 percent in the first quarter of 2011 from the fourth quarter of 2010, and all indications point to buyers continuing to feel reluctant Read full article »
Detroit Rolls Out the Red Carpet for Investor, Hopes for Redevelopment Dollars
In hopes of receiving the same treatment that transformed Florida’s South Beach and New York’s SoHo into global destinations, Detroit is rolling out the red carpet to real estate mogul Tony Goldman. Goldman arrived in Detroit yesterday for a two-day tour of the area. Stops will include “the abandoned Michigan Central Depot, the Cass Corridor, the Brother Nature Produce urban Read full article »
Rhode Island Real Estate Investors, Homebuyers See Rise in Median Prices on Single Family Homes
According to the Rhode Island Association of Realtors (RIAR), if you are selling a home you can expect to get a little more money for it this month – though you might have to wait a little longer to sell. Last week, RIAR announced that the median price of single-family homes is once again on the rise in the state, Read full article »
The Politics of Real Estate
Few industries are as profoundly impacted by the political machinations in Washington as the real estate industry. Whether it's old legislation like Jimmy Carter's Community Reinvestment Act or Barack Obama's massive mortgage bailouts, the U.S. political machine has a huge impact (usually bad) on the business of real estate.
Ideally, we could ignore politics. But here at the Bryan Ellis Real Estate Letter, we insist on seeing the world with clarity - including the reality of Washington's aggressive involvement in every facet of our business, from mortgage lending to real estate sales license; from loan modification regulations to appraisal requirements... every piece of our business is profoundly impacted by politics. So rather than stick our heads in the sand and ignore reality, readers of the Bryan Ellis Real Estate Letter choose to be informed and prepared.
Mortgage Industry News
Few things change more rapidly than the mortgage market, and with the increasing dominance of GSE's Fannie Mae and Freddie Mac over the mortgage business, it's more important than ever to keep up. Here are a few recent mortgage news updates:
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Mortgage News
- HAMP Success Tally Slowly Growing
- Western States Working Through Foreclosure Backlog Quicker than Eastern
- Biggest Down Payments in the Country Found in New Jersey
- President Bypasses Congress, Appoints Director of the Consumer Protection Bureau
- Federal Reserve Recommends Expanding GSEs to Turn Housing Market Around
- Mortgage Rates Likely to Remain Low for a While Longer
- Top Former FDIC, Wells Fargo Execs Say Fannie and Freddie Must Go
- FHA Continues to Extend Anti-Flipping Waiver
- More Homeowners Using Delaying Tactics to Slow Down Foreclosures
- Now that It’s Passed: The True Cost of the Payroll Tax Cut
About Bryan Ellis
Bryan Ellis is an Atlanta-based real estate analyst and publisher of the widely read newsletter "The Bryan Ellis Real Estate Letter". With over 200,000 subscribers - including real estate investors, agents, brokers, appraisers and other real estate professionals - the Bryan Ellis Real Estate Letter is among America's largest sources of unbiased coverage of politics and public policy for the real estate industry.
Bryan Ellis serves as editor in chief for the Bryan Ellis Real Estate Letter and is assisted by an extraordinary staff of writers, researchers and editors who are each real estate experts in their own right and who assure that the news we report is well researched, factual, and highly relevant to today's real estate industry.
Bryan is very happily married and has two wonderful daughters. He makes his home in the suburbs of Atlanta, Georgia. You can contact the team at the Bryan Ellis Real Estate Letter here.
