What do sex offenders and owners of vacant property have in common?
UPDATE: March 8, 2010 – I found out today the bill that was actually perfected last Friday was a floor substitute…Unfortunately the changes made to the bill were minor- they changed the public data base so that you have to […]
According to a report issued this morning by the the Federal Housing Finance Agency (FHFA) St. Louis area home prices increased by 1.32 percent in 2009. Granted that’s not much but, hey, after what we’ve seen the last couple of years in the housing market I think this is very good […]
When considering historically low interest rates, competitive home values along with the $8,000 First-Time Homebuyer and $6,500 Repeat Homebuyer Tax Credits, potential homebuyers still have a great opportunity.
THE TIME TO ACT IS NOW.
The Federal Reserve indicates it will stop buying mortgage-backed securities toward the end of the first quarter. Most […]
Over Fifteen Percent of Missouri Borrowers are Underwater-Another 5.6 Percent Are Almost Underwater
According to a report released today by First American CoreLogic more than 11.3 million U.S. mortgages, or 24 percent of all mortgaged properties, are in a negative equity position meaning the borrowers owe more on their mortgage than […]
American homeowners’ confidence in their own homes’ values falls to lowest level in almost two years
According to the Zillow 4th quarter, 2009 Homeowner Confidence Survey, American’s aren’t feeling so good about the value of their homes, and, in fact, just one in five (20 percent) believe their own homes’ values increased […]
Radarlogic Housing Market Report Shows First November-December Increase in Home Prices Since 2004 For the US – However It shows a Decrease For December for St. Louis –
When I received the Housing Market Report from Radarlogic, I was happy to see some good news; home prices increased in December from November […]
More than 380 mortgage lending operations nationwide have ceased operation since 2006, according to the Mortgage Lender Implode-O-Meter website.
However in spite of a tough and demanding economic market, Paramount Mortgage this week celebrated it’s 40 year anniversary!
“Expect Excellence” has been our corporate motto and the driving force in our philosophy of […]
Deceleration in Rise of Mortgage Delinquencies Short Lived
Back in July, 2009 when speaking in North Carolina President Barack Obama announced “we may be seeing the beginning of the end of the recession“. My thoughts then were that was very optimistic and I didn’t agree (for whatever that is worth). Since then […]
Last week a friend emailed me a link to a video titled “The Indymac Slap in Our Face” that was created by Think Big Work Small. I watched the video which gave a recap of the failure of Indymac bank back resulting in it’s seizure by the FDIC in July, 2008, […]
Valentine’s Day is a time for love…Are you feeling left out because you haven’t found Mr or Mrs Right?
Maybe you aren’t looking in the right places…. have you tried hanging out in the laundry room of Apartment complexes?
All right, I know what you are wondering, what does this have to do […]
St. Louis ended 2009 With The Highest Foreclosure Rate and Mortgage Delinquency Rates On Record For the St. Louis Area
According to date from First American CoreLogic, St Louis finished 2009 with 1.43 percent of the homes in St. Louis with a mortgage in some stage of the foreclosure process and […]
Big Losses Are Forecast For Commercial Real Estate and Expected to Crush Some Community Banks-Can the Housing Market Avoid the Fallout?
This morning the Congressional Oversight Panel issued a report, “Commercial Real Estate Losses and the Risk to Financial Stability” which expressed concerns about coming losses in Commercial Real Estate and also […]
There is time left for qualified buyers to take advantage of the 2009 First-Time Home Buyer’s $8,000 Tax Credit & Repeat Home Buyer’s $6,500 Tax Credit. Binding sales contract must be executed by April 30, 2010, the closing can be extended until June 30, 2010. The newly expanded first-time homebuyer and repeat homebuyer […]
Appeals Court Strikes Down Bellefontaine’s Ordinance Affecting Real Estate For Sale Signs
At the end of January the Missouri Court of Appeals-Eastern District handed down a decision on a case that I think is a significant victory for St. Louis property owners and strikes down part of an ordinance that violates […]
Fannie Mae is offering 3.5 percent in closing cost assistance or an equivalaent amount in appliances for people purchasing a Fannie Mae-owned HomePath® property.
Fannie Mae is trying to entice buyers to buy one of their HomePath® homes by offering to pay up to 3.5 percent in closing cost assistance or […]
In spite of what is being said in the press about the real estate market improving and the effectiveness of the government’s programs to help keep people in their homes, the rate of foreclosure just keeps increasing.
A report released today by First American CoreLogic showed the St. Louis metro area […]
Bank of America announced that it is the first mortgage servicer to sign an agreement formally committing to participation in the pending second-lien component of the federal government’s Home Affordable Modification Program (HAMP).
Bank of America has systems in place to begin implementing the Second Lien Modification Program (2MP) with the […]
FHA loans gained in popularity for borrowers as applications for FHA-guaranteed mortgages exceeded an annual rate of 3 million in October; nearly triple the level in 2007. In 2006, when subprime and other Wall Street programs were at full speed, the annual rate for applications was less than 600,000.
As a result […]
Today the National Association of REALTORS released it’s December Pending Home Sales Index showing an increase of 1.0 percent in the index from November (seasonally adjusted) and a 10.9 percent increase from last year.
Here are highlights from the report:
December”s pending home sales index (seasonally adjusted) was 96.6 (the […]
The U.S. Department of Commerce released a report showing the sale of New Homes in December were at a seasonally adjusted annual rate of 342,000, a 7.6 percent decrease from the revised November rate of 370,000 and is 8.6 percent below a year ago.
As has been my long-running mantra, […]