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,…
Economic Downturns Are Called Corrections For A Reason
It's Friday desk clearing time for this blogger. "Data from Redfin shows that jumbo loans have taken a big hit during the pandemic as mortgage servicers tighten their lending criteria – some lenders have even stopped issuing them altogether. Jumbo…
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.…
Some Are On The Edge With Their Credit
A report from the Globe and Mail in Canada. "Sales in the Greater Toronto Area plunged 69 per cent in the first 17 days of April compared with the same period last year, according to the Toronto Regional Real Estate…
There Are Many Opportunistic Buyers Who Are Going To Price Gouge
A report from the Chicago Tribune in Illinois. "'We definitely had a slowdown,' said Megan McCleary, a real estate broker with Berkshire Hathaway HomeServices in Hinsdale. 'Normally, I would have five buyers at this time,' said Debi Myslicki, a real…
Holy God, We’re About To Lose Everything
A report from the Wall Street Journal. "Mark Calabria, who heads the Federal Housing Finance Agency, is resisting pleas for help from lenders seeking relief as millions of Americans stop payments on their home loans, sending tremors through the $11…
Rental Prices Were Dropping As Landlords Needed To Get A Return On Assets They Were Mortgaged To The Hills On
A report from Canadian Mortgage Trends. "Home sales in the Greater Toronto Area were down 69% year-over-year in the first 17 days of April, the Toronto Regional Real Estate Board reported in a mid-month update. 'For now, we have pencilled…
We Were Expecting 2020 To Be A Really Great Year, And Then — Boom! — This Happens
A report from the Associated Press on Utah. "Evidence from Utah home listings suggests some homeowners are pulling back. A few are panic selling — while would-be buyers begin to feel tightening credit, with more hurdles to jump to get…
It Is Easier To Ignore The Facts Than Face Reality
A weekend topic starting with the Globe and Mail. "So who is paying for this massive wave of purchases by the Fed, the Bank of Canada and others? For now, nobody. Central banks are simply crediting themselves with the funds…
Desperate Owners Are Letting Go Of Their Property With Discounts And Losses
A report from Postmedia in Canada. "Calbridge Homes knows that people are still looking to buy right now. With the current climate of uncertainty, the builder has introduced two programs to help support people during this time. The Price Drop…