Charlotte's Real Estate Blog

RISMEDIA, March 8, 2010—(MCT)—A smaller percentage of mortgages were delinquent and the rate of those entering the foreclosure process slowed in the fourth quarter of 2009, possible signs that the foreclosure crisis that has gripped many of the nation’s housing markets is finally starting to ease, a trade group has reported.

“We are likely seeing the beginning of the end of the unprecedented wave of mortgage delinquencies and foreclosures that started with the subprime defaults in early 2007,” said Jay Brinkmann, chief economist of the Mortgage Bankers Association, in a written statement.  Read Article

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RISMEDIA, February 22, 2010—As a first-time home buyer, Jessica Garcia was excited last April to officially begin her home search. She found a home within her price range, completed the lengthy paperwork and paid for the appraisals, only to later be told after four months that the deal would not close.

Out of luck and out of money, Garcia was frustrated, but not defeated. She went back to her Realtor to start the search again. It was then that she found the home she would later purchase. Upon first glance, Garcia liked the home and saw its potential, but didn’t have the upfront money it would take to rehab the home the way it needed to be done.  Read RisMedia Article

www.FrickStadlerGroup.com for local and national real estate news.

January 2010 home sales dipped from previous months....about 7.2% but still show an increase over January 2009 of 11.5%.....Read Article.

www.FrickStadlerGroup.com for more local and national real estate news.

I think we can all use a little advice (or at least some insight) on revising our retirement plan for the future.  Here's a quick read from RisMedia:

RISMEDIA, March 2, 2010—(MCT)—One year after the start of the crash, your 401k or IRA is pretty much back to even, according to some studies at least. Now you can get on with the rest of your life, and with planning your future finances. Rather than thinking about how much money you lost, now’s a good time to incorporate all the new retirement research and possibly some new products into your plan.  Read Article

www.FrickStadlerGroup.com for local and national real estate news.

RISMEDIA, March 1, 2010—President Obama recently announced an additional $1.5 billion in homeowner aid for the areas of the country hardest-hit by declining home values. Florida, Michigan, Arizona, California and Nevada are the five states that will receive funds.

Speaking from Henderson, Nev., Obama spoke about the nation’s fiscal difficulties, and the many homeowners who have been hit by unemployment and foreclosure. According to the White House, the $1.5 billion will be doled out to state housing finance agencies who will in turn take the lead in developing programs that will be most helpful to homeowners in their states. Possible programs will assist homeowners currently in negative equity, help unemployed homeowners or address issues with second mortgages.         READ RISMEDIA ARTICLE

www.FrickStadlerGroup.com for local and national real estate news.

UGGHH...I hate reporting bad news....actually, I very seldom read the paper anymore for that very reason.  However, I figured I'd blog this report from RisMedia:

RISMEDIA, February 26, 2010—(MCT)—Sales of new U.S. homes plunged 11.2% in January 2010 to a seasonally adjusted annual rate of 309,000, the lowest rate on record dating back to 1963, the Commerce Department recently reported.

The third-straight drop in sales on a month-to-month basis was unexpected. “The housing market remains very, very distressed,” wrote Dan Greenhaus, chief economist for Miller Tabak & Co.  Read Article

www.FrickStadlerGroup.com for more local and national real estate news.

RISMEDIA, February 25, 2010—(MCT)—Federal Reserve Chairman Ben Bernanke told Congress recently that he expected the U.S. economic recovery to continue at a moderate pace, but he expressed concerns about weakness in residential and commercial construction as well as the “quite weak” labor situation that has lifted chronic unemployment to very high levels.

“Of particular concern, because of its long-term implications for workers’ skills and wages, is the increasing incidence of long-term unemployment,” Bernanke said in prepared remarks as he delivered the Fed chairman’s semiannual report to the House Financial Services Committee. He noted that more than 40% of the unemployed workers have been jobless for six months or more, nearly double the share of a year ago.  Read Article

www.FrickStadlerGroup.com for local and national real estate information.

RISMEDIA, February 23, 2010—(MCT)—Facing millions of foreclosures and high unemployment, President Barack Obama recently announced a $1.5 billion fund to help unemployed homeowners and other struggling borrowers in a handful of states.

“What we can do is help families that have done everything right to stay in their homes, and we can stabilize the housing market so that home values can begin rising again,” Obama said at a town hall meeting in a Las Vegas suburb.

As part of the program, five states—Arizona, California, Florida, Michigan and Nevada—have home prices that have fallen enough to qualify for the additional assistance. Obama said that price declines in homes and high unemployment in these regions have created major challenges for families.  READ RisMedia Article

www.FrickStadlerGroup.com for local and national real estate news.

RISMEDIA, February 22, 2010—Nationwide housing production hit its strongest pace in the last six months this January, posting a 2.8% gain to a seasonally adjusted annual rate of 591,000 units, according to figures recently released by the U.S. Commerce Department.

“Builders are starting to see the positive impacts of home buyer tax credits and other favorable buying conditions in terms of consumer demand, and are cautiously increasing production to meet that demand,” said National Association of Home Builders (NAHB) Chairman Bob Jones, a home builder from Bloomfield Hills, Mich.  Read Article

www.FrickStadlerGroup.com for more local and national real estate news.