Commercial real estate has been largely derailed by the slow downs that hit the property market when the recession had a landfall in 2008 and recovery so far has been quite remote especially for most local property owners. In Taylor County, Richard Petree of the district office appraisal office said that the situation is flat at best and there exist an Read full article »
New FHFA Study Reveals More Hints On Freddie, Fannie Collapse As Government Seeks Ways To Prevent Problem From Arising Anew
As federal authorities sift through on possible clues to determine the root cause of Freddie Mac’s and Fannie Mae’s collapse in September 2008, The Federal Housing Finance Agency revealed Thursday last week that the two companies mainly succumbed to soured loans and their assumed role of mortgages guarantors. The federal regulator seeks the probable explanation to avert replicating the huge real Read full article »
tags: fannie mae, Freddie Mac
As The Property Crisis Continues, Commercial Real Estates Are Being Touted As The Next Big Loser
The recession pulled down whatever gains that the real estate sector has achieved during the previous years, with the housing market emerging as the biggest loser so far but recent developments were pointing to commercial properties as the likely new target. In Frederick County alone, Costar reported of double digits vacancy rates in commercial spaces as Marty Lapera of Frederick County Read full article »
Giant Commercial Real Estate Failures Appear To Fade Out Bigger Hiccups By Residential Sector
Located just nearby the North Central Expressway in North Texas were the framed structures of incomplete buildings and vacant lots that reminded long time residents of an earlier plan for a commercial complex that never took off, leaving behind instead a grim reminder of a crippling financial crisis that suck the life out of many commercial real estate projects in Read full article »
Rising Loan Delinquencies And High Unemployment Rate, Economists Predict New Wave Of Foreclosures
New delinquent home loans surged again during the last two quarters as the Mortgage Bankers Association warned on Thursday that the rising figures could effectively dampen recent gains on foreclosures which it said were slowly inching on the decline path despite maintaining their high incidence. As soon as the data was made public, the Dow Jones index were pushed down by Read full article »
category: Featured, Residential
REIT IPOs Attracts More Private Real Estate Companies As Recent Gains Bolster Its Allure
The modern form of Real Estate Investment Trust in the United States traces its root in the 1960 as legislative initiatives gave birth to public ownership of commercial real estate, which since then has taken the path largely dictated by the pulse of the capital markets. Growths were seen for the most part while intermittent episodes of declines marred some bothering Read full article »
category: Commercial, Featured
California Banks Kill Bill That Intends To Protect Homeowners And Avert Further Foreclosures
This is the case of the banking industry shooting down a California initiative to rescue distressed homeowners from the imminent loss of their properties as a once solid state legislative proposal is now in the brink of collapse following a relentless campaign from financial institutions for its demise. Once approved, SB1275 would have allowed homeowners the much needed breathing room as Read full article »
category: Featured, Residential
Regions Bank Sues Wells Fargo To Force The Foreclosure Of NASCAR Plaza In Charlotte
Regions Bank has initiated court proceedings against the owners of the 19-story NASCAR Plaza following their loan defaults of $95 million that placed more pressures in Charlotte’s commercial real estate market as the 390,000 square foot office tower faces imminent foreclosure. The same suit also called on Regions co-lender, Wells Fargo & Co to take all the necessary steps even if Read full article »
Commerce Department Reports Of Record Low Sales For New Homes As Analysts Brace For Brewing Storm
The US Commerce Department announced on Wednesday that new homes sales for the month of July plummeted by 12.4 percent, the biggest slide since the federal government started recording sales data in 1963. The commerce department attributed the decline to soft spots in the housing market following the expiration of tax breaks for home buyers who also face the prospect of Read full article »
category: Featured, Residential
tags: home sales, new home sales
Activist Group Claim Government Foreclosure Rescue Programs Place Benefits On Banks Instead Of Homeowners
The US Treasury Department released a report on August 20 practically admitting that the government-sponsored Home Affordable Modification Program failed on its mission to avert foreclosures by facilitating loan modifications between lenders and distressed homeowners. Since the start of the global financial crisis in December 2007, more than 2.3 million American homes have been either foreclosed or repossessed by banks and Read full article »
category: Featured, Residential
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