Existing-Home Sales Rise Again in January, Inventory Down February 22, 2012
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Existing-Home Sales Rise Again in January, Inventory Down. Spring is in the air
Sales of existing homes up 4.3% in January – Economic Report – MarketWatch February 22, 2012
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Sales of existing homes up 4.3% in January – Economic Report – MarketWatch. Light at the end of the tunnel? Time will tell.
Borrowers have until July for foreclosure review – MarketWatch February 19, 2012
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Borrowers have until July for foreclosure review – MarketWatch. For anyone seeking a review of their mortgage foreclosure this is an important date.
Seriously Delinquent Home Mortgages Rise Again In Connecticut | Real Estate February 17, 2012
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Seriously Delinquent Home Mortgages Rise Again In Connecticut | Real Estate. Mixed news on the status of foreclosures in Connecticut. Seriously delinquent mortgages in CT were 7.98% of all serviced loans. This makes CT the third worst state in New England.
Commercial Record February 16, 2012
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Commercial Record. Some useful considerations regarding the purchase of homes in foreclosure. Covers some of the advantages and perils of going this route.
Mortgage Pact Lifts Hopes for Housing Recovery – WSJ.com February 10, 2012
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Mortgage Pact Lifts Hopes for Housing Recovery – WSJ.com. Wonder whether the delay in reaching the settlement was worth it. Removing the uncertainty is a positive, actual impact remains to be seen.
Americans still sold on homeownership – MarketWatch February 8, 2012
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Americans still sold on homeownership – MarketWatch. Home ownership is still popular as is the mortgage interest tax deduction. It’s about family, “it’s about the American dream”.
Commercial Record February 8, 2012
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Commercial Record. This news item reports that Connecticut has the 7 highest foreclosure inventory in the nation. Not good even if it is much better than say Florida, also mentioned in the article. Then again, consistent with a not very economically dynamic state with essentially no net job creation in the last twenty years and one of the highest rates of taxation.
BofA Said to Put Off Refinancing Clients – Bloomberg February 7, 2012
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BofA Said to Put Off Refinancing Clients – Bloomberg. The backlog is a good sign inasmuch as it would seem to indicate that plenty of people find it worthwhile to pursue this option.
Banks Paying Homeowners a Bonus to Avoid Foreclosures – Bloomberg February 7, 2012
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Banks Paying Homeowners a Bonus to Avoid Foreclosures – Bloomberg.
Don’t know to what degree this is being offered/applied in Connecticut. In the short term it probably contributes to the downward pressure on home prices. In the medium to long term it likely contributes to a generalized reset in prices which is a pre-requisite for the real estate market to return to normality. A potential risk is a vicious circle in which the downward pressure on prices puts additional homeowners into a bind; however as long as unemployment stays steady or continues it recent improvement that might be neutralized since the ability to make monthly payments is dependent on a regular income more than the value of the home.
