one might be of interest to those looking for a better job market
and standard of living.
Best Cities for a Fresh Start, released this week, cites cities
that have prospects for economic growth, good home affordability
and a strong community, reflected by rates of volunteerism.
community and the strength of its government institutions, along
with favorable job growth, volunteerism rate and home
affordability. Dallas/Fort Worth came in second, thanks to a
diverse economy benefiting from Texas’ energy industry and a
housing market that didn’t get too overheated. Charlotte, N.C.’s
diverse economy and high rankings for popularity and volunteerism
earned it a third-place spot on the list.
Washington-Baltimore; Atlanta; Oklahoma City; Houston; Las Vegas;
and Seattle. Read the full list on
more home buyers are warming up to the idea of buying foreclosure
homes and a Realty Q&A about an idea to expand the first-time
home buyer credit to all buyers.
live. At the same time, a lot of people are looking for work,
whether they’re unemployed now or fearing layoffs,” said Sharon
Asher, chairman and founder of
“http://Relocation.com”>Relocation.com. “It’s a scary time, but
for some it might be a good time to think about starting
home buyers will be expanded to also include repeat purchasers who
already own a house but would like to move up? I understand there
has been some movement in Congress along these lines. See Realty
combat mortgage fraud and create a commission to examine the
financial crisis is on its way to the White House to be signed into
law by the President Obama after the House voted to approve the
measure. See full story.
Tuesday when the government reported that construction on new
housing projects slowed to a record-low pace in April. See Economic
housing economist Thomas Lawler is concerned. With a huge inventory
of unsold homes crowding the market, “you wouldn’t like to have
people building a whole bunch of new homes. That’d be nuts,” says
the founder of Lawler Economic and Housing Consulting. Listen to
first-time buyers, U.S. home builders’ spirits improved again in
May, the National Association of Home Builders said Monday,
bringing its sentiment index to the highest level since the
collapse of Lehman Bros. sparked a global financial panic in
September. See Economic Report.
prospects as they have been in the last eight months. An index that
measures builder sentiment is practically bursting at the seams, so
full of hope has it become. See First Take.
building their dream home, a 10,000-square-foot, orange mansion
overlooking the ocean here. They filled it with leopard-skin
chairs, pinball machines, antique Coca-Cola signs and six sports
cars. It had a room full of 100 hunting trophies — including a
hyena and the head of an elephant — and an aviary out back housing
eight rare parrots. On a recent Saturday, they held a one-day
auction to try to sell it all. See full story.
the good news in Lowe’s better-than-expected quarterly earnings.
“The consumer is doing smaller and smaller projects, doesn’t have
money,” says Davidowitz, the chairman of Davidowitz and Associates.
“[Lowe’s is] doing less sales store for store, and making less than
the comparable quarter last year. That doesn’t sound too good to
me.” Meanwhile, Wal-Mart is beginning to roll out its expanded
electronics sections, and finding all kinds of big name-brands
hopping on its bandwagon. For Apple, Nintendo and Palm, that’s the
place to be, says Davidowitz, because Wal-Mart is gaining market
share and there are few retail alternatives. Listen to Audio
better time to refinance your home. But with a one-two punch of
tighter credit and falling prices roiling homeowners, the process
has never been more difficult. See full story.
would allow the Federal Deposit Insurance Corp. to temporarily
borrow as much as $500 billion from the Treasury for the agency’s
deposit insurance fund. The legislation also makes it easier for a
borrower to qualify for the Hope for Homeowners program that was
approved by Congress last year. See full story.
seasonally adjusted 2.3% compared with the week before, as mortgage
rates fell, the Mortgage Bankers Association reported Wednesday.
See full story.
the purchase of a foreclosure home, even knowing that there are
some negatives to acquiring distressed properties, according to
results of a survey released on Wednesday. See full story.
responsible for last week’s increase in mortgage application
activity. “That’s where the action is,” says Inside Mortgage
Finance publisher Guy Cecala. “People can see big savings if they
refinance their loans.” But home buyers aren’t knocking down their
loan officers’ doors. The tougher lending standards and the worries
about home prices are making buyers hesitate. “No one wants to go
out to buy a house and find out it’s worth 2-3 percent less the
next day,” says Cecala. Listen to Audio Report.
below 5% for more than two months, according to Freddie Mac’s
weekly survey of conforming mortgage rates, released Thursday. See
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