TABLE-China’s property price changes in AprilArticle from Reuters:Thomson Reuters is the world’s largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
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Take a joint housing loan and enjoy twin tax benefitsArticle from Economic Times:Home loan rates have come down. But the same cannot be said about, real estate prices. According to data provided By Jones Lang LaSalle, real estate prices have increased rapidly by as much as 30-40% (mostly in newly-launched projects) across Indian Tier I cities, even though the real estate market has been witnessing a slow down since 2009.
“The real estate prices, especially in the metros, have gone through the roof. You cannot think of owning a house unless you dip into both the incomes,” says Suresh Sadagopan, [...] Continue Reading…
Pulte Homes Offers Home Staging Tips to Prospective SellersArticle from Sacramento Bee:BLOOMFIELD HILLS, Mich., May 16, 2012 — /PRNewswire/ – With the onset of spring comes the peak time of year for buying and selling property in the real estate industry. For sellers, ‘staging’ is a successful tactic often used to increase the appeal of their home to prospective buyers. While curb appeal, clutter removal and a thorough cleaning are all standard practices, a few extra steps can dramatically improve a buyer’s take on a home.
“One of the most important points for homeowners looking to sell is to understand the [...] Continue Reading…
US home loan regulator opposes California foreclosure billsArticle from Los Angeles Times:SACRAMENTO — A pair of controversial bills in the California Legislature that would give homeowners more rights to fight foreclosures is being opposed by the nation’s principal home loan regulator.The Federal Housing Finance Agency on Tuesday expressed that criticism in a letter to a six-person legislative conference committee. The first bill would prevent borrowers from being foreclosed on when they have applied for a loan modification. The second proposal would guarantee that borrowers have a single point of contact when dealing with a mortgage service company.The Housing Finance [...] Continue Reading…
Irish House Price Fall May Push Loan Losses to 70%, Moody’s SaysArticle from Bloomberg:The steep fall in Irish house prices may drive losses on foreclosed home loans to as high as 70 percent, according a Moody’s Investors Service report based on mortgage-backed securities it tracks.
“Over half the loans in even the best pools are in negative equity, whereas nearly every loan is in negative equity in the worst pools,” analysts Maria Divid and Barbara Rismondo in London said in a report today. “There is little chance that distressed borrowers will be able to significantly increase their debt service abilities; [...] Continue Reading…
Big bank home loan rate cuts continueArticle from National Business Review:ASB is the latest bank to pass on lower wholesale interest rates to customers with fixed mortgages, slashing fixed home loan interest rates by up to 45 basis points.
The cuts, effective from today, include a 45 basis point reduction in the 12-month rate to 5.25% per annum; a 30 bps reduction in the two-year rate to 5.55% and a 35 bps reduction to the three-year rate to 5.75%.
The bank was able to pass on savings from lower funding costs, ASB general manager products, retail and business banking strategy Shaun Drylie [...] Continue Reading…
Barry O’Farrell stamps out our first home buyersArticle from NEWS.com.au:
THE number of first home buyers in NSW has plunged since the state government killed stamp duty concessions.
In figures released yesterday by the Australian Bureau of Statistics, the number of first home buyers in NSW has fallen almost 50 per cent in the three months since the concession was taken away.
In the budget last year, treasurer Mike Baird announced that from January, first home buyers purchasing existing homes would have to pay transfer title charges on properties under $ 600,000.
Exemptions now only apply to houses that are [...] Continue Reading…
Median Home Sale Prices Continue Rising Locally This Spring, Report ShowsArticle from Patch.com:Refreshing news for local home-sellers is in the latest look at sale prices for homes and condos in four Metro Detroit counties.
Median prices rose to $ 70,000 in Oakland, Macomb, Livingston and Wayne last month, a 1.6-percent rise from March. The new median is nearly 19 percent higher than in April 2011, says a report Monday from Realcomp II Ltd., a multiple listing service in Farmington Hills.
Selling prices rose within each county, extending a four-month trend for 2012. Livingston County has the highest median ($ [...] Continue Reading…
Agency wants to make home loan fees easier to graspArticle from HeraldNet:If you’re as busy as I am, asking you to weigh in on yet another request for comment from the Consumer Financial Protection Bureau is likely to be greeted with a well-understood “humph.”Since the bureau’s inception, it’s been asking consumers for feedback on issues including student loans, credit cards and how you’re affected by mandatory arbitration clauses.Now the CFPB is soliciting your opinion on mortgage points and fees. The agency wants to make it easier for you to understand what you are paying so you can compare loan [...] Continue Reading…
Homebuyer plan provides downpayment help in MiamiArticle from MiamiHerald.com:
More information
Help for Miami Homebuyers
• Qualified buyers can get up to $ 15,000 in downpayment aid through a new program funded by Wells Fargo & Co. and administered by Neighborhood Housing Services of South Florida.
• A homebuyers workshop is set for June 1 and 2 at the Miami Airport Convention Center.
• Details on the workshop are available at www.neighborhoodlift.org or at 866-858-2151. Pre-registration is encouraged.
A new program unveiled Friday aims to help aspiring Miami homebuyers who otherwise qualify for a mortgage but are coming up short on the downpayment.
Wells Fargo & Co. said [...] Continue Reading…