Yearly Archives: 2008

WASHINGTON, March 06, 2008 - The volume of existing-home sales is expected to hold steady through late spring, with a gradual recovery during the second half of the year as the mortgage situation improves in high-cost areas, according to the latest forecast by the National Association of Realtors®. Lawrence Yun, NAR chief economist, said many buyers have been waiting for higher mortgage loan limits.

WASHINGTON, March 06, 2008 - The National Association of Realtors® today called on the U.S. Senate to enact reform legislation for the nation’s government-sponsored enterprises (GSEs) that will protect the vibrancy, liquidity and stability of the U.S. housing finance system.

NEW YORK, NY – March 6, 2008 – The Secretary of Housing and Urban Development (HUD) today released the new median home price guidelines for use in establishing conforming loan limits as part of the Economic Stimulus Act.

There's some good news on the horizon for homeowners in cities like San Diego, Washington D.C. and Sacramento, Calif., where the real estate boom and bust has left those markets reeling from the effects of overbuilding, bad loans and foreclosures.

WASHINGTON, March 05, 2008 - The National Association of Realtors® has established a strategic alliance that will help Realtors® identify potential home buyers and sellers more efficiently. infoUSA Inc. joins NAR’s roster of REALTOR Benefits® partners as a leading provider of sales leads, mailing lists and database marketing tools.

WASHINGTON - The U.S. Department of Housing and Urban Development today awarded more than $50 million in grants to assist senior citizens, disabled individuals and families living in public housing across the U.S, Hawaii, and Puerto Rico. HUD is awarding nearly $34 million to offer public housing residents greater access to education and employment and another $16 million to help elderly and disabled public housing residents to live independently

RealtyTrac the leading online marketplace for foreclosure properties, today released its January 2008 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, auction sales notices and bank repossessions — were reported on 233,001 properties during the month, an increase of 8 percent from the previous month and an increase of nearly 57 percent from January 2007.

Some of the singers’ 10 children don’t want the property sold. Ho himself put the home on the market for $10 million before he died last year. Family members never thought it would sell, but Ho’s trustees lowered the price to under $7 million and a sale is pending.

BusinessWeek Online surveyed million-dollar homebuyers in 20 markets across the country and concluded that buyers today who are seeking $1 million homes can truly afford them and see the purchase as a confirmation of their success – even when there are lots of other nice homes available for less.

As part of the Federal Trade Commission’s intensified efforts to protect consumers from mortgage foreclosure rescue scams, the agency has filed two lawsuits charging six individuals and their businesses with falsely claiming that they will stop foreclosure.

WASHINGTON, February 28, 2008 - The National Association of Realtors® testified today in Congress that the Veterans Home Loan Guaranty Program should continue to be a valuable asset in helping the nation’s veterans achieve the dream of homeownership in a way that is safe, fair and affordable.

In an ongoing effort to crack down on businesses that prey upon homeowners facing foreclosure, the Federal Trade Commission has charged six businesses and three individuals with violating the Home Ownership and Equity Protection Act (HOEPA), the FTC Act, and the Truth in Lending Act (TILA) by enticing homeowners into high-cost, short-term loans secured by an additional mortgage on their homes.

Washington, D.C., Feb. 27, 2008 - The Securities and Exchange Commission today charged three promoters who targeted military families in a multi-million dollar investment scheme that forced victims into personal bankruptcy and their homes into foreclosure.

Sales of new single-family homes fell 2.8 percent in January to the lowest rate in nearly 13 years, according to a U.S. Commerce Department report issued Wednesday.

Wells Fargo & Co., the country’s second-largest mortgage lender, says it has identified more than 200 housing markets nationwide where the mortgage crisis has spread.

WASHINGTON, February 26, 2008 - Nominations are now open for the National Association of Realtors® ninth annual REALTOR® Magazine Good Neighbor Awards. The program recognizes Realtors® whose extraordinary commitment to volunteer work has helped make their community a better place to live.

WASHINGTON, DC – U.S. home prices fell in the fourth quarter of 2007 according to OFHEO’s seasonally-adjusted purchase-only house price index. The index, which is based on data from home sales, was 1.3 percent lower on a seasonally-adjusted basis in the fourth quarter than in the third quarter of 2007. This decline was substantially greater than the 0.3 percent price decline between the second and third quarters.

WASHINGTON - U.S. Housing and Urban Development Secretary Alphonso Jackson today announced that HUD's FHASecure product has helped 100,000 homeowners refinance their mortgages and avoid foreclosure. Since September 2007, FHASecure has enabled tens of thousands of families - who are current on their home loans or past due because their teaser rates reset - to close on loans refinanced through HUD's Federal Housing Administration (FHA), which is backed by the full faith and credit of the government

WASHINGTON - U.S. Housing and Urban Development Secretary Alphonso Jackson today issued the following statement applauded NeighborWorks America for expeditiously awarding $130 million to HUD-approved national counseling intermediaries and state housing finance agencies that will provide thousands of families with foreclosure prevention counseling.

Move to New York, and you could become an investment-banking millionaire. Head for Los Angeles for a chance at an eight-figure Hollywood paycheck. Or go prospecting in San Francisco for dot-com gold.