November home sales in Miami hit five-year high

Home sales in the Miami area rose 5% in November with 7,855 closings on the books, DataQuick said this week.
That figure is up 17.5% from a year ago and the highest November sales level since 2006 when 10,369 home closings were recorded by the San Diego-based research firm.
DataQuick attributes the faster sales pace to lower [...] November home sales in Miami hit five-year high:

Foreclosure filings drop 34% in 2011: RealtyTrac

Foreclosure filings drop 34% in 2011: RealtyTrac: Foreclosure activity in the United States stalled in 2011 as the number of foreclosure filings – including all default notices, auctions and bank repossessions – declined 34% from a year earlier, RealtyTrac said Thursday.
Foreclosure notices were posted on 1.8 million U.S. properties last year, and overall foreclosure activity remained 33% below 2009 levels.
The Irvine, Calif.-based [...]

Foreclosure rates plunge in 2011 - Jan. 12, 2012

Total filings, including default notices and bank repossessions were down 33% for the year to 2.7 million, according to RealtyTrac, the online marketer of foreclosed properties.

One in every 69 homes had at least one foreclosure filing during the year, while 804,000 homes were repossessed. That's a significant improvement from the peaks reached in 2010 -- when 1.05 million homes were repossessed -- and the lowest levels seen since 2007. "BUT " **** Read More;  Foreclosure rates plunge in 2011 - Jan. 12, 2012: "

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Lennar Says High Rents Helped Home Orders Rise 20% - NYTimes.com

Lennar, one of the country’s largest home builders, on Wednesday reported a third consecutive quarter of growth in orders and said the housing market was bottoming out after a long downturn.
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Times Topic: Lennar Corporation
Shares of the company rose 7 percent to close at $22.25 on Wednesday.

Stocks of other home builders, like KB Home, the PulteGroup and D. R. Horton, also rose."
Lennar Says High Rents Helped Home Orders Rise 20% - NYTimes.com: "
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Unemployed Mortgage Holders Get Payment Extension

Fannie Mae and Freddie Mac say they will extend their existing programs so that unemployed borrowers can defer part or all of their monthly payments for up to 12 months.Unemployed Mortgage Holders Get Payment Extension:

The Problem With Current Mortgage Rates

On December 21, the National Association of Realtors (NAR) announced that existing home sales had risen in November -- up 4 percent over October's figure, and up 12.2 percent year-over-year.

The next day, Freddie Mac announced a new record low for 30-year mortgage rates - 3.91 percent.

On paper, this could make it appear that the housing recovery is shaping up as planned: lower interest rates create new housing demand, which fuels a recovery in sales and housing prices. However, a closer look at the numbers doesn't support that optimistic view."
The Problem With Current Mortgage Rates: "
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5 Things to Do Now to Get Your Home Sold in 2012

If selling your home is part of??your resolution list for this year, there's plenty of prep work you can do to set yourself up for home selling success. Here are 5 things you can and should start working on without further ado, if you want to get your home sold ? smoothly and for top ... 5 Things to Do Now to Get Your Home Sold in 2012:

Tips For Finding The Right IRA

Since their inception in 1982,??individual retirement accounts (IRAs) have grown to become one of the most popular retirement savings vehicles in America. Virtually every??financial institution in the country offers this type of account, including banks, brokerage firms, independent investment advisers, life insurance companies and trust companies. However, knowing which type of account ... Tips For Finding The Right IRA: by??Mark P. Cussen

MetLife to Close Mortgage Unit - NYTimes.com

MetLife, the nation’s largest life insurer, announced Tuesday that it would close its home mortgage-origination operation, costing the company at least $90 million. Most of the 4,300 employees at the unit will lose their jobs." **** MetLife to Close Mortgage Unit - NYTimes.com: "

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Zillow: Home values in November back at 2003 levels

Home values in the United States in November remained flat with the prior month but declined 4.6% from last year, according to the latest real estate markets report from Zillow Inc. (Z: 24.85 +7.90%).
The company's home value index, which measures prices across the nation, shows the average home price was $147,800 in November, [...] Zillow: Home values in November back at 2003 levels:

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Home sales rise as prices hit historic lows in December

New and existing home sales increased year-over-year in December, while home prices continued to plummet, hitting levels of affordability not experienced since 1971, the Obama administration said Monday.
In its December Housing Scorecard report, the administration said median-income families on average had double the funds needed to cover the cost of a home, but purchase demand [...] Home sales rise as prices hit historic lows in December:

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What's Hindering Today’s Home Loan Borrower?

"No longer are home loans a quick and easy process. While most companies, including credit unions, have taken every step necessary to streamline their processes and hired numerous staff to handle the increased work, the truth of the matter is each application takes longer for all lenders to process, underwrite and close. For example, the required paper trail when gift funds are used, if disputes exist in the credit report or in how income is allocated are all much more in-depth. Even a refinancing has more stringent requirements and a streamlined loan process no longer exists. Everything is documented. Everything is checked and double-checked." **** Read at; What's Hindering Today’s Home Loan Borrower?:

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Gadgetwise Blog: Giving Windows on an iPad a Boost

The iPad seems to be doing well among business customers already, but the ability to run business software like Microsoft Office well could make the Apple device even more appealing. A start-up company called OnLive is launching an online app that it says will allow iPad users to do just that. *** Read at; Gadgetwise Blog: Giving Windows on an iPad a Boost:

Money, Fraud, And Scandal: Art Highlights Of 2011 - Forbes

"Where there’s money, there’s usually crime. Where there’s big money, there’s big crime. In the art market of 2011, there was both, and lots of it. Here, a roundup of the major events: " *** Read At; Money, Fraud, And Scandal: Art Highlights Of 2011 - Forbes:

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Monday Morning Cup of Coffee

A look at stories across HousingWire's weekend desk, with more coverage to come on bigger issues:
Federal Reserve Governor Sarah Bloom Raskin said Saturday the Fed will fine 14 mortgage servicers for misconduct in loan servicing and foreclosure practices.
"The Federal Reserve believes monetary sanctions in these cases are appropriate and plans to announce monetary penalties," Raskin [...] Read At; Monday Morning Cup of Coffee:

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