Categories for Property Law

June Sales Down 20 %

July 8, 2008

Hot summer weather isn’t heating up the North Texas home market. The Dallas Morning News reports, June sales were down 20 percent from a year ago. And for the first six months of 2008, the number of pre-owned houses sold in the area is off 15 percent from the same period last year. The good news: Prices are holding up relatively well. North Texas real...

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The latest home price risk forecast shows that Dallas-Fort Worth is overall the safest place in the country for stable home values. The Dallas Morning News, also states the latest report by mortgage insurance company PMI Group ranked the D-FW area dead last among the 50 cities it rates for possible declines in home prices. That means PMI is betting there is less than a...

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Beleaguered consumer bank Wachovia Corp. will quit offering a mortgage payment option that allows borrowers to pay less each month than the bank charges in interest. The Dallas Morning News also state that the choice to pay less was one of the options of Wachovia’s controversial Pick-A-Payment mortgages, which offer customers four different payment options each month. Wachovia told The Associated Press on Monday that...

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Foreclosures Rise

June 30, 2008

Jacksonville is heading into the third year of the real estate slump and the number of home foreclosures continues to rise. The San Antonio News also reports ,so many homes are being auctioned off at the Duval County Courthouse that in July, the foreclosure auctions will be put online to move them through faster. "I don’t see any bright skies on the horizon," said University...

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KB Home, one of the nation’s largest homebuilders, reported a larger second-quarter loss Friday, as weak sales and falling home prices led to a 55% drop in revenue. The San Antonio News also reported that the company also booked charges to lower the value of unsold homes, joint venture deals and land option contracts. The Los Angeles-based company reported a loss of $255.9 million, or...

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San Antonio News Reported, Countrywide Financial Corp., the mortgage company being bought out by Bank of America Corp., is working with New Vista Asset Management to sell real-estate owned (REO) homes in San Antonio. These are homes that have been foreclosed on by the lender. Countrywide is in the process of working with New Vista’s network real estate professionals to sell these properties. The two...

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Dallas Morning News Reports, An influential economist who long predicted the housing market bubble cautioned Tuesday that the slump in the U.S. housing market could cause prices to fall more than they did in the Great Depression and bailouts will be needed so millions don’t lose their homes. Yale University economist Robert Shiller, pioneer of the widely watched Standard & Poor’s/Case-Shiller home price index, said...

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Home Sales Fall

April 24, 2008

The Dallas Morning News, Sales of existing homes fell in March while the median home price declined, compared with the price a year ago, as a severe slump in housing showed no signs of abating. The National Association of Realtors said that sales of existing single-family homes and condominiums dropped by 2 percent in March to a seasonally adjusted annual rate of 4.93 million units....

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Dallas Morning News Reported Today, All the publicity about so-called rescue plans to help troubled homeowners isn’t having an impact so far on Dallas-Fort Worth foreclosures. The number of homes facing foreclosure in the area next month is up almost 40 percent from a year ago. More than 4,400 homes are scheduled to be sold at foreclosure auction in the four-county area on the first...

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Tarrant Foreclosures Up

April 18, 2008

Fort Worth News stated , Home foreclosures in Tarrant County are up 39 percent for May, with 1,380 homes posted for foreclosure at the May 6 auction, according to figures released Thursday by Foreclosure Listing Service. For the year, there have been 6,971 postings in Tarrant County, 29 percent more than a year earlier. Tarrant, Dallas, Denton and Collin counties combined had 4,426 postings for...

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U.S Home Prices Decline

March 26, 2008

The drop in U.S. home prices accelerated in early 2008 and shows no sign of bottoming. Preowned home prices nationwide fell by a record 11.4 percent in January, according to the monthly S&P/Case-Shiller home price index released Tuesday. And while Dallas home prices continued to hold up better than those in its peer cities, the closely watched report showed that values here fell by 3.3...

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According to the Houston Chronicle, after falling for six straight months, sales of existing homes posted an unexpected increase in February which may have reflected more aggressive price cutting by sellers in some parts of the country, a real estate trade group reported today. The National Association of Realtors said that sales of existing homes rose by 2.9 percent in February to a seasonally adjusted...

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