News about properties and real estate
Trading Down Is the New Real Estate Reality Half a million dollars is, by almost any standard, a lot of money. But during the past few years, when credit was easy and regulations were loose, to many Americans it didn’t seem like all that much. That’s because they were able to borrow huge amounts of …
Continue reading “Trading Down Is the New Real Estate Reality”
Playing with fire: Foreclosures bring rise in uninsured tenants It was force of habit that pushed Jeanne Ryan out of her home on a Sunday afternoon in January, just like everybody else at Indian Village Condominiums. The fire alarm went off. But she didn’t bother to take her purse, much less her television and furniture. …
Continue reading “Playing with fire: Foreclosures bring rise in uninsured tenants”
Cap may make it harder to obtain mortgage The cap on single-family home loans in San Diego County that can be purchased by government-sponsored Fannie Mae and Freddie Mac will be reduced in January from $697,500 to $546,250. In a move that’s expected to make it harder for some consumers to get mortgages, the Federal …
Continue reading “Cap may make it harder to obtain mortgage”
Wall Streetwalkers: The Sleazy Lehman Brothers Subsidiary Lehman Brothers CEO Dick Fuld told Congress on October 6 that the Wall Street investment bank was destroyed by a “financial tsunami”—a natural disaster, an act of God. In other words, it wasn’t his fault. But the truth is that Lehman’s fall in the subprime-mortgage crisis was a …
Continue reading “Wall Streetwalkers: The Sleazy Lehman Brothers Subsidiary”
Who backed out of St. Joe’s $130-million deal? Wake up and good morning. I know, we’ve all got the buzz of the presidential election on our fuzzy minds this morning. Congratulations on a hard-fought, historical event. We’ll be sorting this one out for months if not years. But for now, I want to go instead …
Continue reading “Who backed out of St. Joe’s $130-million deal?”
After the home is gone More than a million homes have been lost to foreclosure in the past two years. And according to data from Mortgage Bankers Association, banks are now in the process of foreclosing on 1.5 million more. The impact of the mortgage crisis has been obvious in both the worldwide credit crunch …