2015 Foreclosures Hit Nine-Year Low

2015 Foreclosures Hit Nine-Year Low

Real estate foreclosures hit a nine-year low in 2015, according to the latest annual report from RealtyTrac. “In 2015 we saw a return to normal, healthy foreclosure activity in many markets even as banks continued to clean up some of the last vestiges of distress left over from the last housing crisis,” said Daren Blomquist, […]

Mortgage Rates Defy Fed Increase

Mortgage Rates Defy Fed Increase

Mortgage rates have fallen since the decision of the Federal Reserve to increase interest levels. The Fed announcement came on December 16th. It raised the overnight lending rate for banks by .25 percent and the nation’s banks instantly went into action, increasing the prime rate for borrowers by .25 percent while not touching the measly […]

FHA Mortgages To Have A Banner Year

FHA Mortgages To Have A Banner Year

FHA mortgages will have a banner year in 2016. You can see this coming. It’s a mortal lock. It doesn’t matter whether FHA endorsements go up or down, the program will still have a great year. Here’s why. First, in 2015 the FHA cut its annual mortgage insurance premium (MIP) for most loans by .5 […]

Ask OurBroker: Are FHA Mortgages A Rip-Off?

Ask OurBroker: Are FHA Mortgages A Rip-Off?

Question: FHA mortgages are government loans. I thought the government was going to help the home buyer and home owners out there to make affordable monthly payments? What’s up with the MIP? This is absolutely a big rip off for the buyer and homeowners. Answer: The FHA program has been around for a long time and […]

The Story of America’s First Christmas Tree

The Story of America’s First Christmas Tree

Christmas trees now sparkle in millions of homes, but did you ever wonder how the tradition began? No doubt there are many stories regarding the start of this custom, and as we do each year here’s one we’d like to pass along. At first, celebrating Christmas in America — with or without a tree — […]

What Happened To Real Estate Prices in 2015?

What Happened To Real Estate Prices in 2015?

Real estate values increased substantially in 2015 but did they increase enough? “The median sales price of U.S. single family homes and condos in October was $207,500, up 1 percent from the previous month and up 10 percent from a year ago — the highest year-over-year percentage increase since February 2014,” according to RealtyTrac, the […]

Real Estate, Pensacola & The New American Workplace

Real Estate, Pensacola & The New American Workplace

You can see how part of the new American jobs market is evolving. Just look at the office worker above, toiling away on his latest assignment from that folding chair on Pensacola Beach. The American workplace is changing and with it the needs of business. We’re now into the “sharing economy,” a cutesy term which for […]

Real Estate Booms – So Why Does Confidence Lag?

Real Estate Booms – So Why Does Confidence Lag?

It’s hard to look at 2015 and think that real estate has had anything but a banner year. As of October, according to the National Association of Realtors, home sales are up 3.9 percent when compared with the year ago while existing home prices have risen 5.8 percent. RealtyTrac, the nation’s leading source for comprehensive […]

FHA Mortgages Recover From Bush-era Losses

FHA Mortgages Recover From Bush-era Losses

Those who support FHA mortgages and the ability of homebuyers to purchase real estate with as little as 3.5 percent down got extremely good news this week: the latest annual report from the FHA showed that the program has now recovered from the policies of the Bush Administration and the massive losses they produced. For […]

Should We Ban Smoking In Public Housing?

Should We Ban Smoking In Public Housing?

It’s been a big week in the world of real estate and smoking. It’s been announced that the adult smoking rate has fallen to 16.8 percent in 2014, the lowest rate on record and down from 20.9 percent in 2004. At the same time, HUD wants to lower the rate to zero in more than […]