Creative Buyers, Brokers Keep Sales Humming Despite Lack of Listings By: Guest Contributor: Daren Blomquist 10/18/2013

Many in the real estate industry believe there is a listing shortage, but a close look at the numbers suggests buyers in most markets are purchasing homes in increasingly larger volumes—even if some of those sales involve off-market homes not listed for sale.In July there was a 5.1-month supply of unsold existing homes, unchanged from … Continue reading Creative Buyers, Brokers Keep Sales Humming Despite Lack of Listings By: Guest Contributor: Daren Blomquist 10/18/2013

FHA Trims Waiting Period for Borrowers Who Experienced Foreclosure By: Esther Cho

The Federal Housing Administration  (FHA) is allowing borrowers who went through a bankruptcy, foreclosure, deed-in-lieu, or short sale to reenter the market in as little as 12 months, according to a mortgage letter released Friday.Borrowers who experienced a foreclosure must wait at least three years before getting a chance to get approved for an FHA … Continue reading FHA Trims Waiting Period for Borrowers Who Experienced Foreclosure By: Esther Cho

Gov’t Shutdown May Have Lingering Effects

 Daily Real Estate News | Friday, October 18, 2013It was back to business for the federal government Thursday, as government offices reopened following a 16-day shutdown over a federal budget and debt ceiling impasse among lawmakers. But for the mortgage and real estate industry, there may be a few clogs in the pipeline from the two-week … Continue reading Gov’t Shutdown May Have Lingering Effects

By Rebecca Kaplan, Stephanie Condon / CBS News/ October 16, 2013, 10:20 PM Open for business: Government shutdown, default averted

Updated at 12:49 a.m. EasternAfter 15 days of a government shutdown and on the eve of when the country was set to lose its borrowing authority, Congress passed legislation to fund the government and avert a default Wednesday night.  President Obama later signed the bill, officially reopening the government and allowing federal employees to head … Continue reading By Rebecca Kaplan, Stephanie Condon / CBS News/ October 16, 2013, 10:20 PM Open for business: Government shutdown, default averted

Washington Bickering Has Killed Nearly 1 Million Jobs By Rick Newman | The Exchange

It’s just a “partial” government shutdown. Threats of a U.S. government default are overblown. The federal government is too involved in the economy, anyway.These are some of the excuses used to justify repeated standoffs in Washington over federal spending. The politicians doing the fighting usually insist the economy can withstand their histrionics and everything will … Continue reading Washington Bickering Has Killed Nearly 1 Million Jobs By Rick Newman | The Exchange

Shadow Inventory Falls to Lowest Level Since August 2008

Overall residential shadow inventory, as of July 2013, was 1.9 million homes, according to CoreLogic. That’s the lowest shadow inventory tally reported since August 2008. The industry’s current shadow inventory carries a value of $293 billion by CoreLogic’s assessment, down from $380 billion in July 2012. It represents 3.7 months’ of supply and accounts for … Continue reading Shadow Inventory Falls to Lowest Level Since August 2008

Shutdown Starting To Gum Up Mortgage Closings

By KENNETH R. GOSSELIN, The Hartford Courant8:13 p.m. EDT, October 11, 2013A lot of things got in the way of Mary Brady's refinancing her mortgage: being a busy single mom to two teenagers, working full time as a nurse, keeping up with home repairs.But she never expected the federal government to be on that list."I … Continue reading Shutdown Starting To Gum Up Mortgage Closings

How the Government Shutdown Could Affect Housing and Home Building – NAHB Eye on housing

How the Government Shutdown Could Affect Housing and Home BuildingThe ongoing shutdown of certain federal government functions will affect housing and home builders. In most cases, the short-run impacts will be minor. A long-run shutdown, lasting several weeks or a month or more, could have significant impacts on mortgage accessibility and reduce housing demand. And over the … Continue reading How the Government Shutdown Could Affect Housing and Home Building – NAHB Eye on housing

Expiration of HUD approvals for non- profits during the government shutdown  FHA is aware of concerns regarding the expiration of HUD approvals for non-profits during the period of the government shutdown.  Due to the government shutdown, FHA currently cannot review and approve non-profit applications or update the existing list of HUD-approved non-profits.  Lenders may continue to … Continue reading