Monthly Archives: March 2011

Nevada Senate Bill 346

March 29, 2011: Today I testified as an expert in front of the Nevada Senate on Senate Bill 346. Right now, the law only prohibits deficiency judgments for mortgages taken out after October 2009. The new bill requires lenders to … Continue reading

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Wow! The figures on February home sales were disappointing

March 29, 2011: THE first S&P/Case-Shiller housing index data for 2011 are now out, and the headlines are likely to ring with gloom—urged on by S&P itself: “Data through January 2011, released today by Standard & Poor’s for its S&P/Case-Shiller … Continue reading

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Congress to HAMP: You’re fired!

WE WON’T MISS YOU HAMP MARCH 29, 2011: The House of Representatives voted Tuesday 252-170 to terminate the Home Affordable Modification Program two years early. Rep. Patrick McHenry (R-N.C.) introduced H.R. 839 as part of a wide effort by Republicans … Continue reading

Posted in Foreclosures Short Sales Mortgage Litigation, Uncategorized | Leave a comment

Las Vegas Housing at 20 Year Low

ITS TIME YOU LEFT March 24, 2010: TO THE many dubious distinctions of Las Vegas, add one more: foreclosure capital of America. According to RealtyTrac, a property-listings firm, one in every ten homes in the city was in some stage … Continue reading

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Mortgage modifications benefit investors more than tests find: CRL

March 27, 2011: A study from the Center for Responsible Lending, a consumer advocacy group, showed more mortgage workouts benefit investors than current modification numbers show. The Home Affordable Modification Program and other initiatives use a net-present value test to … Continue reading

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Forecast: Calif. home prices to rise 23%

March 25, 2011: The real estate forecast by Beacon Economics calls for average California home gains of 0.6% this year; 3.2% next year; 5.4% in 2013; 6.7% in 2014; and 7.8% in 2015. All told, Beacon is basically projecting that … Continue reading

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You’ve got more competition this spring. Price those homes accordingly.

March 24, 2011: Nationally, the inventory of unsold homes on multiple-listing services increased by 0.6% in February from one month prior. Over the past year, inventory is up by 13%, according to Move Inc. The data covers all single-family homes, … Continue reading

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New homes sales crater 17% in February to lowest level yet

March 23, 2011: New sales of single-family homes fell nearly 17% in February from a month earlier, coming in well below analysts’ estimates and at the lowest level recorded. The Commerce Department said the seasonally adjusted rate of 250,000 units … Continue reading

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An important message from the CALIFORNIA ASSOCIATION OF REALTORS®:

March 10, 2011 I write on behalf of the CALIFORNIA ASSOCIATION OF REALTORS®, whose 170,000 members continue to witness the devastating consequences the home foreclosure crisis is having on California’s families, neighborhoods, and communities on a daily basis. The number … Continue reading

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Legal Pitfalls Short Sales

WATCH YOUR STEP Residential real estate deals always carry some risk of legal disputes, but today’s volatile market is spawning new clashes. Short sales present pitfalls for sellers and buyers, which can result in legal wrangling. How banks handle defaults … Continue reading

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