Owners May Be Forced To Sell For Less Than Market Value
A report from King 5 in Washington. "If you lost your job, you might be asking yourself what good a deferral does if you owe a large lump sum at the end of it. When Kathy Martin lost her job,…
Suffering Unprecedented Losses, Sellers Need To Unload Homes That Are No Longer Producing Income
A report from the Washington Post. "Prospective home buyers and homeowners who want to refinance should anticipate more stringent documentation requirements, tighter credit standards and more limited choices for loans due to the quick financial downturn from the economic shutdown.…
Moving The Terms Of The Loans To Places Where It Might Not Be Tolerable For Borrowers
A report from the Wall Street Journal. "A government effort to give Americans a break on their mortgage payments during the coronavirus pandemic hasn’t provided the relief many homeowners were hoping for. The stimulus package that Congress passed in March…
Real Estate Needs Their Toilet Flushed Of Some Of The Realtors
A report from the Berkeley Newsroom. "Berkeley Haas Professors Nancy Wallace and Richard Stanton were some of the few voices to forewarn of the massive risk posed by shoddy practices in the mortgage industry prior to the 2008 financial crisis.…
Buyers Were Already Catching A Falling Knife, Now They’re Catching A Falling Sword
A report from the Oregonian. "'I’m still writing offers,' says real estate agent Adam Elliott. 'Motivated sellers are dropping prices and if you’re 100 percent sure you’re not losing your job, now is the right time to buy. Agents all…
This Is What A Market Not Frenzied Looks Like
A report from the Daily Mail on New York. "A luxury New York skyscraper with apartments priced at as much as $59 million could be left empty as the coronavirus lockdown halts the construction industry. It is feared the slowdown…
A Cascading Series Of Events Threatening Our Basic Economic Structures
A report from Bisnow. "The COVID-19 pandemic is impacting the commercial real estate market in ways both large and small. Shares of real estate investment trusts have fallen 34% between February and March 16, which implies a 24% decline in…
At Some Point In The Not-Too-Distant Future, Banks Will Need To Recoup At Least Some Of What They’ve Lent
A report from Bloomberg. "The market for mortgage-backed securities was in free fall, with fear running rampant and banks seizing collateral. That was last Saturday. In the week since, three top investors in the sector have engaged restructuring advisers, two…
Overnight We Had No Negotiating Power Because Our Clients Need To Sell
A report from HousingWire. "HousingWire spoke to Todd Bitter, a loan originator servicing the Greater Phoenix-Scottsdale market. HousingWire: What are you doing within your lending business to adapt to the current market situation? Todd Bitter: For the last quite a…
Buyers And Sellers Cancel Deals Due To Fear Of Job Security And, Just The Unknown
A report from the Wall Street Journal on Texas. "The Houston office market is poised to become the next commercial real estate victim of the economic shock waves from the coronavirus crisis. Houston’s problems also are closely watched along with…