May « 2010 « HomeBuyerPower®

Owners Stop Paying Mortgages, and Stop Fretting

Another article found today about how clever it is not to pay your mortgage, and how we may be in for a VERY, VERY LONG ride to home price and mortgage stabilization in America:

“For Alex Pemberton and Susan Reboyras, foreclosure is becoming a way of life — something they did not want but [...]

Local Worcester County Business Leaders Share Economic Concerns With Maryland Comptroller

Ocean City Today reported on Friday that Maryland’s Comptroller Franchot visited the area this week as part of his “economic listening tour”:

“We have to be honest. This has been a pretty calamitous downturn,” he said of the recession that has crippled budgets nationwide, led to layoffs and forced businesses to scale back their [...]

S&P/Case-Shiller Home Price Indices Showing House Prices Declining Again Nationally

The latest S&P/Case-Shiller Home Price Indices released yesterday is showing, nationally, home prices declining again:

“The S&P/Case-Shiller Home Price Indices measures the residential housing market, tracking changes in the value of the residential real estate market in 20 metropolitan regions across the United States.

U.S. National Home Price Index fell 3.2% in the [...]

Purchase Mortgage Applications Plunge To 13 Year Low, Down 27% This Past Week

Look Out Below!!

The Mortgage Bankers Association is reporting today that the seasonally adjusted Purchase Index decreased 27.1 percent from one week earlier. This is the lowest Purchase Index observed in the survey since May of 1997. The unadjusted Purchase Index decreased 27.0 percent compared with the previous week and was 24.1 percent lower than the [...]

What A Court House Steps Foreclosure Sale Looks Like

If you have never attended a bank foreclosure public sale on the Courthouse steps, the folks at ForeclosureRadar.com have put together a Guide video that is worth a quick watch. A big caveat though: This is a California guide. Things are a bit different in Maryland.

Either way, it will become clear to the viewer how [...]

Housing Optimists Are “Not Paying Attention” to the Facts, Says Dean Baker

Yahoo Finance had an interesting interview today with Dean Baker, a macroeconomist, market watcher and someone who called the real estate bubble before a lot of folks even knew what the word “bubble” meant:

“Among the crowded ranks of economists and market watchers, Dean Baker stands out. Baker presciently called the housing bubble when [...]

MORE OCEAN CITY MARYLAND COMMERCIAL PROPERTIES? City officials seek to cut residential density on parcels in districts zoned for business

Ocean City Today reported on Friday about a restructuring of the zoning rules being considered by the City Council of Ocean City, Maryland. The proposed change would modify the current rules for residential development on commercially zoned properties:

“For about two years, the resort’s Planning Department has discussed the possibility of reducing the number [...]

Foreclosure Activity Nationally Increases 7% in Q1: RealtyTrac

DSNews.com is reporting that the foreclosure tide is still rising:

“During the first three months of this year, RealtyTrac’s data shows there were 257,944 properties repossessed by the lender – an increase of 9 percent from the previous quarter and an increase of 35 percent compared to the first quarter of 2009.

All [...]

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