Weekly State of Market

Hello Everyone,

Here is a great article I read today on yahoo real estate. We are at the beginning of a home buying frenzy nationwide. As we all know the market has been turning around for sometime now. This is great for us investors that are doing buy, fix and flip's cause the retail market is prime to pay above asking for these homes due to the immense competition the market is creating. With good low rates on loans and high demand this mixture is going to make this a great year for us. As with any market one part of investing is going to be great while other areas might be affected. My advise to you all is try to find money partners or leverage transactional funding to buy, fix and flip homes for yourselves. Don't miss out on this massive wave. Best of luck......

HUD Investigating for Gender Discrimination

Since 2010, the Department of Housing and Urban Development has been investigating complaints against lenders who allegedly denied mortgages to families because the wife was pregnant or on maternity leave. The practice violates provisions in the Fair Housing Act, as lenders are not allowed to single out pregnant women because the lender assumes they may not have a job to return to or may choose not to return to work after the birth of their child.

Since this investigation began, several lenders, including Cornerstone Mortgage and Bank of America, have settled with the government to make payments based on this type of discrimination.

January Pending Home Sales Up a Lot

Americans Tapping Home Equity Again

Though nearly 11 million borrowers are still underwater on their mortgages, home equity loans are again on the rise. Rising home prices and higher consumer confidence are combining to again lure homeowners into home equity loans and lines of credit. There was a 19% jump in originations of home equity loans at the end of last year. Rising prices carried around 1.4 million borrowers above the underwater mark through the end of September 2012. Rising home prices and rising interest rates are expected to encourage more homeowners to jump into the home equity borrowing market in 2013.

Lowest Level of Foreclosures Since 2007

In three articles, all on Economy Watch at nbcnews.com, this week we’re finding that there are drops in the number of home sales, but prices are still inching upward. Here are the summaries of the three articles:

New home sales drop, but prices tick higher...

The number of new single family homes sold dropped in December. However, the median home sales price rose during that period. The new home sector still seems to be a bright spot in the real estate recovery.

http://finance.fortune.cnn.com/2013/01/15/housing-builders-earnings/?iid...

http://money.cnn.com/2012/12/26/real_estate/bank-foreclosure/index.html?...

Yesterday I heard on the news that the housing market is on the way up, but this piece, I believe, is focused on the fiscal cliff. Some markets are on the road to recovery, but we will just have to see what plays out for the new Year. http://money.cnn.com/2012/12/05/real_estate/housing-home-prices/index.ht...

http://money.cnn.com/2012/11/20/real_estate/home-building/index.html?iid...

Besides me, has anyone else noticed how the topics here have become less and less interesting since Insider Elite started. It's my opinion and I am entitled to it!

http://money.cnn.com/2012/11/16/real_estate/sandy-foreclosures/index.htm...