Some real estate markets are reporting that home buyers are having to pay more than asking price to get the home they desire, as the supply of for-sale homes has shrunk, Bloomberg News reports.
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News
Bidding Wars Are Back, Agents Say
Monday, April 2nd, 2012BofA Borrowers in Foreclosure May Get Rent-Back Option
Monday, March 26th, 2012Bank of America announced this week that it will make an offer to a select group of its borrowers who face foreclosure: You can stay in the property, but you’ll have to rent it instead.
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30-Year Mortgage Rates Edge Above 4%
Monday, March 26th, 2012Mortgage rates moved up quite a bit this week, following higher bond yields and improving economic data, Freddie Mac reports in its weekly mortgage market survey.
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Have Home Prices Finally Reached Bottom?
Monday, March 26th, 2012“Prices are bottoming now,” according to a Bank of America Merrill Lynch forecast, released this week.
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REO Discounts to Grow Even Bigger?
Tuesday, March 20th, 2012Foreclosures are expected to pick-up as soon as banks begin to clear their backlog of troubled loans. RealtyTrac is projecting a 25 percent increase in foreclosures in 2012.
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Americans More Optimistic About Housing, Economy
Thursday, March 8th, 2012Americans’ concerns over housing and the economy are subsiding, according to Fannie Mae’s National Housing Survey from February.
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Buffett: ‘I’d Buy Up a Couple Hundred Thousand’ Homes
Thursday, March 1st, 2012Warren Buffett, the billionaire investor and Berkshire Hathaway CEO, said on CNBC’s “Squawk Box” recently that he’d “buy up a couple hundred thousand” single-family homes if it was practical.
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Sellers Willing to Do More to Get Home Sold
Thursday, March 1st, 2012Real estate pros are reporting that sellers are more willing this year to price their homes competitively as well as change the appearance of their home in order to lure buyers, according to a survey of 600 agents conducted by Coldwell Banker Real Estate.
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Cash Buyers Are ‘Mopping Up Inventory’
Thursday, March 1st, 2012Thirty-four percent of home sales in January were paid for with cash, according to Campbell Surveys and Inside Mortgage Finance. And housing experts say the growing number of cash buyers on the market — who are often investors — can be a good thing in removing some of the overhang with foreclosures.
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Grubb & Ellis Files for Chapter 11 Bankruptcy
Wednesday, February 22nd, 2012One of the nation’s largest commercial real estate brokerages filed for bankruptcy this week. Grubb & Ellis says the financial crisis and the sluggish commercial property market are to blame.
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