Real Estate Examiner

Finally, here comes help for jumbo borrowers

Politicians have been talking about this issue for months, without any action: how do we make non-conforming home loans more affordable in the wake of the credit meltdown which began last summer? The easiest solution was to raise the conforming loan limit on jumbo loans above the current (absurdly low) $417,000 level. This would allow Freddie & Fannie to back loans larger than $417K.
Well finally, after months of inaction, Freddie Mac and several major lenders announced a deal. What does this mean to you? In theory, interest rates on mortgages should come down on larger loans. I'll keep you posted...
Topics: mortgages

Home Prices

I was on Bloomberg television last week talking about home prices. I wish the news weren't so depressing, but here you go:  ... Read More
Topics: house prices , home values , TV

John McCain's Houses, All 7 of 'Em

 Last week, we all giggled when Republican presidential nominee John McCain flubbed the question, "How many houses do you and Mrs. McCain own?" For most people, it's a simple enough question and the answer is likely one or two, But, if... Read More
Topics: celebrities

Real estate porn - August Edition

So now that I have your attention....Today's theme is water. Check out this eye candy.Recently sold home for $1.15M on  Linda Vista Avenue in  Tiburon, CA  a home on   Firenze Boulevard in   Orlando FL   a... Read More
Topics: remodeling , dueling digs

The new housing bill

As you might have heard, Congress and the President signed a sweeping housing bill this week which in an attempt to jumpstart the housing market, or at least to stabilize the mess that we're currently in.Here are the highlights:Any first-time home buyers... Read More
Topics: mortgages , politics

Jon Stewart Dissects the Mortgage Mess in 5:39

   Want a quick rundown on the mortgage crisis? The Daily Show’s Jon Stewart had Richard Bitner on as a guest recently. Bitner is a wholesale mortgage lender who recently authored a book, “Confessions of a Subprime Lender —... Read More
Topics: mortgages

The psychology of a listing price

Chalk this one up in the "sad but true" category. Not all listing prices are created equal, even if the numbers are the same. There are many examples of sellers who list their home for X and don't sell. They then lower the price to Y (or even... Read More
Topics: house prices , home values , buyer tips

Celebs Celebs Celebs

Normal 0 false false false EN-US X-NONE X-NONE... Read More
Topics: home values , TV , celebrities

European housing trends

Deutsche Bank published an excellent report comparing US home prices with Europe. Here's the key takeaway:"US home prices will decline significantly further in 2008, begin to stabilize in the first half of 2009, and remain depressed forsome time... Read More
Topics: house prices , home values

The New York Times tells us to feel sorry for investment bankers (sort of)

There was an amusing article in the New York Times this week about investment bankers in New York who are having a hard time making it past co-op boards. As a former New York investment banker, I can say with authority: please don't feel sorry for these... Read More
Topics: house prices , home values