Wednesday, June 23, 2010

Real estate news update: 6-23

A daily dose of headlines for real estate agents, mortgage lenders and consumers.

Should I buy a home in foreclosure?
Smart Money:
Yes, they can be a great opportunity for would-be buyers to score a deal but the transactions themselves are complicated and prone to snags.
Housing tax credit extension update
Calculated Risk: This bill includes the extension of the date not duration of unemployment benefits. One of the sticking points is the extension of the COBRA benefit.
REO inventory to peak in summer 2011
Housing Wire:The amount of REO inventory held by lenders is expected to peak in August 2011 at 545,000 properties, primarily due to an increase in REO from GSEs.
Housing data shows 2% Y-o-Y rise
Seeking Alpha: This price movement has been influenced by the government subsidy of housing, so we will need to see how this series trends out over the remainder of 2010.
Delinquent borrowers get help outside Obama mortgage plan
CNN Money: More troubled homeowners have fallen out of trial mortgage modifications than have received long-term help, a new government report released Monday shows.
Condos rule over co-ops at high end
Wall Street Journal
: But homebuyers still prefer co-ops because they can get between 33% and 35% more square footage for the same money.

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