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California Man Wins Lawsuit Against B of A Over Failed Loan Modification

A California man won a judgment in small claims court against Bankof America over a failed loan modification.The Huffington Post reports that David Graham was strung along for three years by the bank after he applied for a loan modification under the Home Affordable Mortgage Program (HAMP), the federal program meant to help homeowners keep their property. Graham said he wouldn’t have bothered applying had he not been sent the material without solicitation. He supplied all requested data and sat back to wait to learn if he qualified. The program requires that the bank turn around the request with a

4 Experts Comment: When Will California Real Estate Return to Normal?

Foreclosures in California are still high. Sales of new homes are at historic lows. And millions of homeowners are underwater on their mortgages. So what’s the outlook for 2011 and beyond? • Emile Haddad, chief executive of FivePoint Communities Inc., expects home prices to “stabilize” in 2011 but declined to make a specific price prediction. Determining whether the housing market is on steady footing is essential to developers such as Haddad, the former chief investment officer for Lennar Corp. Haddad, along with Lennar, is now part owner of FivePoint, which is managing the development of the Valencia community in Los

4 Real Estate Predictions for 2011

Image by Getty Images via @daylife The days when anyone could claim to have a reliable crystal ball for the real estate market have long passed. Nevertheless, what’s past is prologue: There’s a lot going on in the market right now that is likely to have a pretty predictable impact on real estate in 2011. Let’s look at how homebuyers can expect to fare next year with these four real estate predictions: Prediction #1 Prices and mortgage rates will stay low in most areas, but will rise in affluent areas and markets experiencing job/population growth. Buyers will have plenty of

Economic Forecast for 2011

Image via Wikipedia The Forecast Here’s a mediocre forecast for you. It’s not a double dip or a doomsday story, but it’s decidedly lackluster. At this rate of growth, the economy underperforms its potential for . . . as far as the eye can see. Key motivator of the stagnant view: slow monetary growth. In recent months I commented on the Fed’s “quantitative tightening” and why economic growth has been so slow. Second quarter GDP data confirm the slower rate of expansion. The Good News The Good News for the Economic Outlook: The Fed will shift gears and stimulate the

Authentic Real Estate: Foreclosure Volume Expected to Peak in 2011

Authentic Real Estate: Foreclosure Volume Expected to Peak in 2011: “Image via WikipediaNext year could very well be a peak year for foreclosures, says Rick Sharga, a senior vice president at RealtyTrac, an on…”

Foreclosure Volume Expected to Peak in 2011

Image via WikipediaNext year could very well be a peak year for foreclosures, says Rick Sharga, a senior vice president at RealtyTrac, an online marketplace for foreclosure properties. The market is expected to tally about 1.2 million bank repossessions in 2010, up from 900,000 in 2009, he says. “We expect we will top both of those numbers in 2011.” That’s partially due to issues the industry has faced with foreclosure processing that began in the fall and delayed a portion of foreclosures from being completed this year, he says. In the so-called robosigning controversy, some lenders halted foreclosures after learning

5 End of Year Tax Strategies to Maximize 2010 Earnings

Image via Wikipedia 1. Sell Looser Stocks This was a tough year for stock investors. With business investment lethargic and hiring gains only in a few key sectors stocks had little to draw from to advance in price. If you purchased stocks this year and have a significant loss from the purchase you may consider selling the stock before year end. If you’re hopeful that a losing investment will recover and you’re thinking of buying it back shortly after selling, be wary of the ‘superficial loss’ rule. A superficial loss occurs when you or your spouse sell an investment to realize the

Who Benefits from Weakness in Real Estate?

Image by thinkpanama via Flickr Since it is now official that the US economic outlook has been downgraded and will be soft for the next 2 to 3 years who could be the beneficiaries? In volatile economic environments all assets are open game to a potential downfall. Speculators of real estate are poised to benefit from these bad economic times in several ways: If you currently own real estate Given that macro-economic conditions will remain soft with employment, consumer and business spending at terminal ebbs current homeowners can benefit in refinancing their existing mortgage to historical low interest rates. Government stimulus will continue to keep interest rates low. This will offer the

The International Gage of US Real Estate

This week the BBC reported that Ireland is in secret negotiations with EU officials to bail out and restructure their country’s mounting debt load. Fears of an European melt down begin to surface and news pundants fly internationally. These rumors drive down US stocks and fog the forecast for economic recovery. Given that the US economy is effected by global events how can you realistically forecast? Since the invention of the Internet and the speed by which information can become viral the standards that were once seemed insignificant are now very significant. All these market over-reactions are the result of nervous investors and a continuing

The Forecast of Future Home Values Given Shadow Inventory

There have been many estimates of what could be the amount of foreclosed homes that banks are holding off the market, keeping prices artificially high. Some estimates are as high as over a million units. The term “shadow inventory” represents the amount of homes that are in foreclosure and have yet to hit the market. Once these homes are put on the market for sale it will represent a large price impact to the current inventory of homes as supply will increase and prices will decrease. Shadow inventory has never been clearly estimated, but now reports are beginning to surface

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