Real Estate's New Problem: Not Enough Homes
Real Estate's New Problem: Not Enough Homes
May 11, 2010, CNNMoney.com
Can it be possible? Despite the housing bust and high foreclosure rates, in some areas real estate agents are complaining that they don't have enough homes to sell. There is currently an eight-month supply of homes on the market — meaning that, at the current sales pace, it would take eight months to run through the backlog.
A Surprise Tax Hit on Foreclosures
May 8, 2010, Wall Street Journal
Maxine McDaniel has a message for Americans considering walking away from an unaffordable mortgage: Beware of taxes. She's bracing for the next blow: an Internal Revenue Service form detailing as much as $150,000 in debt canceled by the bank when it took control of the house.
Expect Home-price Weakness to Persist
May 11, 2010, Inman News
With the economy on the mend, home sales could bounce back to their historical levels by 2012, although the bulging foreclosure pipeline is likely to keep prices in check, economist Mark Zandi of Moody's Analytics told Realtors holding their annual midyear
Lennar Slashes Vegas Prices, Tax-Credit Hangover Begins?
May 10, 2010, Wall Street Journal
Home builder Lennar is slashing prices in Las Vegas – by more than 15 percent in some cases. Is this the start of the home buyer tax-credit hangover? The federal credit expired at the end of April and many speculate. Corporation nearly $9 billion as banks loaded with commercial real estate and construction loans continued to falter at a record pace.
Orange County Housewives: Short-Sale Edition
May 11, 2010, Wall Street Journal
Reality has hit home for one of the “Real Housewives of Orange County’s” blond-and-Botoxed stars: Tamra Barney unloaded her Tuscan-style house in a short sale, the Orange County Register reports.