A report from the Ledger in Florida. "Thomas Gebregergis had $100,000 in cash and was looking to secure a spacious second home. He turned to the foreclosure market and offered $28,100 on what he thought would be a dream property…
A report from Mortgage Grader. "Why is Freddie Mac throwing out automated appraisals for certain refinances that have seemingly worked well for five years? In June 2017, Freddie introduced refinance appraisal waivers on eligible properties, expanding the program to purchase…
A weekend topic starting with Fox 43 in Maryland. "The Federal Reserve raised interest rates on Wednesday for the first time since 2018. 'Just get into the house without paying any extra fees or points if you have to, just…
It's Friday desk clearing time for this blogger. "National Association of REALTORS Chief Economist Lawrence Yun: 'Oh, well, the refinancing chance may be over because rates will only go higher from this point. The mortgage rates were essentially at 3%…
A report from Socket Site in California. "The sale of 765 Market Street#30C has now quietly closed escrow with a contract price of $1.2 million, down 29.4 percent from its 2017 value and an even greater loss when accounting for…
A report from Jackson Hole News and Guide. "Looking to buy a house, Harry Richmond found one three or so hours away from San Francisco where he lives and works. But, just as the 33-year-old pharmaceutical industry employee was getting…
A report from Bankrate. "Fannie Mae and Freddie Mac are rolling out new rules covering condo loans - and critics say the stricter reviews are causing condo sales to fall apart, even in buildings with no structural issues. Because most…
A weekend topic starting with Yahoo Finance. "The Federal Reserve’s top figure said Thursday that the central bank should have acted sooner to pull back on its pandemic-era stimulus and get ahead of rising inflation. Fed Chairman Jerome Powell told…
It's Friday desk clearing time for this blogger. "So-called iBuyers purchased a total of 70,402 homes in 2021, more than doubling the number purchased in 2019, according to Zillow. The shopping spree led to Zillow’s implosion and a lot of…
A report from the Mercury News in California. "Investors bought up just 4% of the homes sold in the San Jose metro area, and 6% in San Francisco and the East Bay last year – about the same level as…