MarketWatch Real Estate Round-upAuthor: MarketWatch.com
26 Sep 2018

MarketWatch Real Estate Round-up

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The latest news, trends and developments on the home front.

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    NAHB CEO: Only Congress can solve housing 'crisis'

    The housing slump has worsened into a "crisis," says Jerry Howard, the president and CEO of the National Association of Homebuilders, and "if Congress doesn't do anything, the end is not in sight." Builders are calling on Congress to target home prices in the next stimulus package, and Howard suggests a program like a mid-70s tax credit. "It worked very well, and led the country out of what was a six-quarter recession," he says.

  • Posted on 24 Nov 2008

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    RealtyTrac: Foreclosure activity soars again, up 25% since last year

    There is more bad news from the home front as "we're still looking at foreclosure activity on the increase." Rick Sharga, at RealtyTrac says their most recent survey finds that "nearly 280-thousand US households in the month of October received some sort of foreclosure notice." According to Sharga, "that's up five percent from September and up 25 percent from a year ago." Sharga tells Steve Potisk, "this marks 34 consecutive months where we've seen a year over year increase" in foreclosure rates.

  • Posted on 13 Nov 2008

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    Zillow: A third of home sellers are losing money

    If you bought your home at the peak of the market in the last couple of years, you could be down "anywhere from five to, in areas of California, 30 or 40 percent off the value of your home." So says Amy Bohutinsky, the V-P for communications at Zillow.com. She tells Steve Potisk that has many people in "negative equity right now," or owing more on the mortgage than the house is worth. That means a third of Americans who sold their home in the past year lost money, according to a Zillow survey. The downward trend is expected to continue. Bohutinsky says of the 163 metro areas they surveyed, "only a handful of markets showed appreciation year over year."

  • Posted on 12 Nov 2008

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    RealtyTrac: Blame 6 states for the foreclosure mess

    "We're still seeing the highest rates of foreclosure activity in the same states." So says Rick Sharga, a senior vice president at RealtyTrac. His group found foreclosure rates were up 71 percent in the third quarter when compared with a year ago. The top six states account for 60 percent of third quarter foreclosure activity; they are California, Florida, Arizona, Ohio, Michigan and Nevada.

  • Posted on 23 Oct 2008

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    Kerch: Mortgage rates may not surge again from here

    "The days of easy credit are behind us. The days of really low mortgage rates may be behind us," too. But Steve Kerch, MarketWatch.com's real estate editor, tells Steve Potisk this week's spike higher in average rates may have "been one bad week given all that we've seen in financial markets." Kerch adds that if rates remain in the current range, topping near 6 1/2 percent, that's not bad.

  • Posted on 16 Oct 2008

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