Smart Money Year in Review: The Value of a Home http://bit.ly/foLpHp

Bank Mortgage Modifications More Likely to Fail http://ping.fm/JLFdE

5 Reasons Homeownership Trumps Renting http://ping.fm/vvhJZ

Rents Rise as Apartment Vacancies Fall http://ping.fm/YhjhK

Forecasters Split on 2010 Housing Market http://ping.fm/UCW8O

Fannie and Freddie Stock Delisted from NYSE http://ping.fm/hukbP

Bernanke Forecasts a Fitful Recovery http://bit.ly/aR9WSv

How to Help a Family Member Buy a Home http://ping.fm/rrBgp

BofA Rolls Out Plan to Forgive Principal http://ping.fm/ChMHj

Mortgage Rates Hit 6-Week Low http://bit.ly/aopqF1

Lenders Unload Mortgages to Collection Agencies
http://bit.ly/d8s9YZ

Entrepreneurs Can't Count on Equity for Loans
http://bit.ly/bz7wTM

"Winning the mortgage modification lottery"
http://bit.ly/dyuDQ6

San Diego Home Sales Up 6.9 Percent In March
http://bit.ly/c4TAAQ

Phony Landlords Scam Would-Be Renters http://bit.ly/bAHwnm

New Fannie Mae, Freddie Mac Structures Should Ensure Availability of Mortgage Capital and Protect Taxpayer Dollars, Says NAR. http://bit.ly/9ejvSH

NY Times: Program Will Pay Homeowners to Sell at a Loss - http://ping.fm/KHKjd

Increasing numbers of Californians are suing lenders to avoid foreclosures - San Jose Mercury News

Increasing numbers of Californians are suing lenders to avoid foreclosures - San Jose Mercury News

6 Surprising Facts About the Buyer Tax Credit

6 Surprising Facts About the Buyer Tax Credit

What You Should Know About the Market

The government is expected to unveil a new program in the next couple of months that, if approved, may reimburse homeowners for up to half the cost of making their homes more efficient. Through the program, homeowners will receive the largest return from simple upgrades like caulking windows, adding insulation, and changing incandescent light bulbs to those that are more energy-efficient.

To determine which energy-efficiency upgrades are best for their house, homeowners should obtain a home energy audit. Homeowners are advised to hire a contractor licensed by the Building Performance Institute or the Residential Energy Services Network. These contractors have been trained to first test a home to determine the amount of energy it is losing, and then make suggestions on renovations.

 

Fewer Sellers Cut Home Prices, for Now

Trulia reports a decline in the number of home sellers lowering their asking prices at least once to 21 percent as of Jan. 1 from 22 percent in December and 25.6 percent in November, marking the lowest level since April. The average discount held steady at 11 percent.
Trulia reports a 50 percent drop in cities with price reductions of 30 percent or more on average, with only seven major cities reporting such cuts at the beginning of the month. Regionally, 20 percent of listings in the South and 22 percent of listings in the West, Midwest, and Northeast experienced price cuts.
Trulia CEO Pete Flint says, "I expect reductions to rise again as the tax credit extension deadline approaches but I also expect mortgage rates to rise, so they may cancel out the savings [from list price reductions].

Source: Reuters, Lynn Adler, (01/12/10)

Should the Fed Keep Buying Mortgage Backs?

The Federal Reserve should continue to buy mortgage-backed securities past its self-set deadline of April 1, James Bullard, president of Fed Bank of St. Louis, told an audience in Shanghai on Monday.
Bullard argued that the Fed should continue the purchases “at a low level initially” and monitor the result to determine whether it needs to increase the purchases to add more liquidity – and stability – to the market.
Bullard also said the Fed Open Market Committee will discuss the issue at its meeting later this month.

Source: The Wall Street Journal (01/10/2010)