Astute readers have no doubt have learned by now of yesterday’s announcement by HUD Secretary Shaun Donovan that the federal government’s “Making Home Affordable” plan will now allow mortgages owned or guaranteed by Fannie Mae and Freddie Mac to be refinanced with loan-to-value ratios of up to 125%. I won’t go into all the details…
Case-Shiller Tiers: Middle Tier Flattens, Low & High Tick Up
Let’s check out the three price tiers for the Seattle area, as measured by Case-Shiller. Remember, Case-Shiller’s “Seattle” data is based on single-family home repeat sales in King, Pierce, and Snohomish counties. Note that the tiers are determined by sale volume. In other words, 1/3 of all sales fall into each tier. For more details…
Case-Shiller: Anemic Spring Bounce in April
Let’s make our regularly scheduled monthly check on the Case-Shiller Home Price Index. According to March data, Up 0.2% March to April. Down 16.8% YOY. Down 22.3% from the July 2007 peak Last year prices rose 0.7% from March to April and year-over-year prices were down 4.9%. Here’s the usual graph, with L.A. & San…
The Neighbors Paid WHAT?
In our discussion this weekend about why people would walk away from a mortgage, even though they can afford to continue paying, Tim Kane (S-Crow) pointed out: It doesn’t take much emotional pull to consider walking away when you see property being purchased across the street for $150,000+ less than what you may have purchased…
Poll: Do you personally know someone who has walked away from a mortgage they could afford to pay?
Please vote in this poll using the sidebar. This poll will be active and displayed on the sidebar through 07.04.2009.