FHA Extends Anti-Flipping Waiver to Speed Sales
The Federal Housing Administration is extending its “anti-flipping” waiver through the end of 2012, which allows buyers to purchase homes that have already been sold in the last 90 days.
3 Cities Where Prices Appreciated the Most in 2011
Some cities saw big increases in home prices this year. The ones that saw the largest levels of appreciation often had the lowest foreclosure rates in the country, or did not peak midway through the past decade.
Gov’t Reviews Proposals for Foreclosure-Rental Program
The Federal Housing Finance Agency (FHFA) received more than 400 proposals on how it should handle the high number of foreclosures that are plaguing many markets across the country. The proposals suggest various ideas on how the FHFA can go about turning thousands of repossessed homes that Fannie Mae and Freddie Mac own into rentals, in trying to curb losses, stabilize neighborhoods, and prevent further drops to housing values.
Justice Dept. Seeks Victims in Countrywide Settlement
On the heels of a landmark $335 million fair-lending settlement with Countywide, the Justice Department is trying to find more than 200,000 alleged victims so they can be fairly compensated.
Distressed Commercial Properties Level Off
Are better days ahead for commercial real estate? A new report by Real Capital Analytics shows the number of distressed commercial properties is plateauing and expected to continue to do so in the new year. Distressed properties — which include commercial properties that are in default, foreclosure, or repossessed by lenders — had totaled $171.6 billion in October 2011, a decrease from topping off at $191.5 billion in March 2010, according to Real Capital Analytics.
Pending home sales continued to gain in November and reached the highest level in 19 months, according to the National Association of REALTORS®.