Real Estate News: Pending Sales Rise in July September 3rd, 2010

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Here’s a look at the real estate news in today’s WSJ:

Residential Properties Ltd.

Pending Home Sales Rise in July: Stocks gained on Thursday after the National Association of Realtors reported that pending sales rose by 5.2% in July.

Five Mistakes Home Buyers Make: From snubbing the real-estate agent, to failing to determine how much a buyer can truly afford, this list should help avoid some common pitfalls.

Surprising Shelter: Real-Estate Funds Gain: Despite continued bad news about the economy and real estate’s role in it, mutual funds and exchange-traded funds in the real-estate sector have rebounded during this past year.

Fed’s Pianalto: Multiple Solutions Needed on Housing: The housing crisis needs multiple, coordinated policy solutions, Federal Reserve Bank of Cleveland President Sandra Pianalto told a conference on Thursday.

House of the Day: Providence Poet House: The poet who’s lived in this 6,800-square-foot former carriage house finds it well-suited for writing. The Rhode Island home features seven bedrooms and an indoor fire pit.


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Expanding the Pool of Eligible Homeowners: Common Sense Underwriting Needed September 3rd, 2010

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Posted To: Voice of Housing

It seems our economy is unable to promote a significant level of consumer spending without some sort of Federal Assistance. Given that this is an election year where the outcome has the potential to be especially significant, it is reasonable to anticipate that lawmakers returning to Washington after their Labor Day recess will be motivated to enact legislation to stimulate economic activity. One idea being circulated is to re-authorize the recently expired Homebuyer Tax Credits. While that may seem like a step in the right direction, it is not. In fact, just talking about another homebuyer tax credit could slow sales in the here and now as consumers put off purchase plans in hopes they too will be able to benefit from such incentives. More importantly, we must stop attempting to apply short…(read more)

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The Day Ahead: Jobless Claims, Pending Home Sales, Productivity September 3rd, 2010

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Posted To: MBS Commentary

Interest rates are modestly higher this morning after equities closed nearly 3% higher Wednesday. Ninety minutes before the opening bell, S&P 500 futures are just below yesterday’s high at 1081.25 and the benchmark 10-year Treasury note is -0-04 at 100-09 yielding 2.593% (+1.3%). The October delivery FNCL 4.0 is -0-02 at 102-27. A busy economics calendar carries the potential to shift market sentiment in the day ahead. At 8:30, initial jobless claims are anticipated to rise 2k to show that 475,000 Americans filed for first-time unemployment benefits in the final week of August. The labor news comes one day before the official monthly numbers are released. The report should give further context to yesterday’s mixed data ― the ADP report showed 10k private jobs disappeared in the month…(read more)

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Open Question: how do i pay for massage school if i have no money and no one will loan me any? September 3rd, 2010

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so i graduated massage school aug 25 and instead of being excited im depressed because i have no idea where or how to come up with $4500+. i live in fl just bought a home this past year with my husband (which is in his name not mine) and i make just enough money to pay my car payment and insurance and maybe even buy a little food. there is no money to spare and to make matters worse my husband got fired from his job a month ago!! i have been looking into grants but everything i look into applying for says it isn’t for individuals but instead for organizations. if i could pay off school i could get my license, but until then i cannot charge for services nor can i apply for employment as a massage therapist. i have tried to get a second job but that just isn’t an option there is no work to be found however it seems massage therapists jobs are abound. if anyone has ever dealt with this or a situation similar to this please answer me and lend a helping hand thanks

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Open Question: old collection debt on credit report should I pay it now? September 3rd, 2010

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i have paid off all credit cards and now only have car and home loan. Credit report shows some old medical bills in collections. Should i pay those off now? Current credit score is 657

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Open Question: Will the Obama Administration demand that Al Gore apologize for the Discovery Channel Terrorist? September 3rd, 2010

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► Discovery Channel hostage-taker hated programming
http://news.yahoo.com/s/ap/us_discovery_channel_gunman
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I seem to remember the Clinton’s demanding Rush Limbaugh (A TOTAL nutter, I’m NOT defending him.) apologize and take responsibility for his roll in the Oklahoma City Bombing… So… Since the Discovery Channel Bomber was a member of the Cult of Gore, shouldn’t Al Gore publicly apologize for the actions of his follower?

Should the leftist media apologize for their unchecked, knee-jerk reporting that this was just “Another Right Wing” nut-job?

Why does the media refuse to report on the Leftist Domestic Terrorists? Actually go in depth in to the topic, rather than just making a statement about how something “Happened” then move on.

Arsonists burning down homes near forests…

Arsonists breaking in to science labs…

Terrorists threatening the lives of scientists and employees of companies and organizations they don’t like…

Convicted domestic terrorists being on the payroll of “Animal Rights” and “Environmentalist” groups being paid to go to colleges/universities and give “lectures” on how to make incendiary devices out of milk jugs, gasoline, and rage… (Not to mention the thousands of dollars “Loaned” to their families to pay for their legal costs. A “Loan” that the families have been quoted as saying was never meant to be repaid.)

Black-Mailers, a.k.a. “Community Leaders”, going to banks and saying “Either you give loans to people that don’t qualify or we will get our people here to protest and make a press release saying your bank is ‘racist’. We will cause this branch to close.”

Why the hypocrisy when it comes to Leftist Domestic Terrorists?

Could it have something to do with this?

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► Democrats and Republicans Both Adept at Ignoring Facts, Study Finds
http://www.livescience.com/strangenews/060124_political_decisions.html
Democrats and Republicans alike are adept at making decisions without letting the facts get in the way, a new study shows. And they get quite a rush from ignoring information that’s contrary to their point of view.
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Resolved Question: Buying a house out of state, where do I go to get the mortgage? September 3rd, 2010

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My wife and I currently reside in the midwest and we are planning to move to the east coast in (hopefully) about 6 months. Where should I go for the mortgage? Do I need to get it from someone in the east cost area or someone in my current home town?

We’ll be moving somewhere in the southern middle most part of the state. Its a small town. We’re currently looking at a few victorian homes that will need renovation so I am planning on getting an FHA 203K loan.

Thank you for your time.

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Resolved Question: Is this really a buyer’s marker? September 3rd, 2010

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I have a question and am simply looking for advice. My wife and I are in the market for a house, and have been pre-approved with a VA home loan. We are looking in the Havertown,PA area to start off and we think we have a decent property picked out. Initially, the house was on the market for about 245K and has been on the market for over 100 days. The house is now listed at 235K. Considering I would also like the seller to contribute half of the closing costs in a seller’s assist (about 5700) our initial offer is 225,750 (this includes the seller’s assist as well.) We don’t have any property to sell and can move in at the drop of a dime. Is this initial offer a reasonable first offer? Everyone keeps saying that this is a buyer’s market, but I believe some of the people that we have talked to (realtors) want to offer the seller’s asking price with minimal negotiation. This doesn’t seem like a “buyer’s” market to me!! Any advice would be awesome!!!

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Open Question: What is the interest rate of existing SBI home loans? September 3rd, 2010

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We have taken a loan 28 lakhs in 2006. As per revised interest rates, now it’s showing 10.75%. But if I check in SBI website it’s not showing thise interest rate. Please give me current interest rate of existing loans, SBI.

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ON THE ROAD FROM RECOVERY TO REVITALIZATION September 3rd, 2010

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Five years ago, one of the most destructive natural disasters in our nation’s history hit the Gulf Coast. When they hit the coasts of Louisiana and Mississippi, Hurricanes Katrina and Rita took thousands of lives, displaced millions of residents, wiped out hundreds of square miles of coastal land, and inflicted major damage to nearly 300,000 homes.

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