Wednesday, November 18, 2020 / by Michael Axelrad, GRI
Chances of Another Foreclosure Crisis? “About Zero Percent.”
There seems to be some concern that the 2020 economic downturn will lead to another foreclosure crisis like the one we experienced after the housing crash a little over a decade ago. However, there’s one major difference this time: a robust forbearance program.
During the housing crash of 2006-2008, many felt homeowners should be forced to pay their mortgages despite the economic hardships they were experiencing. There was no empathy for the challenges those households were facing. In a 2009 Wall Street Journal article titled Is Walking Away From Your Mortgage Immoral?, John Courson, Chief Executive of the Mortgage Bankers Association, was asked to comment on those not paying their mortgage. He famously said:
“What about the message they will send to their family and their kids?”
Courson suggested that people unable to pay their mortgage wer ...
Thursday, October 29, 2020 / by Michael Axelrad, GRI
COVID-19 Causing Unexpected Impacts to U.S. Housing Inventory
Residential News » Irvine Edition | By Monsef Rachid | October 28, 2020 8:05 AM ET
Life uncertainty, mostly caused by COVID-19, is keeping more than a third (34%) of would-be sellers out of the market, says a new report by Zillow.Financial anxiety is a big part of that: 31% of homeowners considering selling in the next three years say a current uncertain or precarious financial situation is a reason to stay put, with 27% reporting a recent change in employment with a decrease in hours or pay, and 17% saying they or their spouse/partner were laid off or involuntarily unemployed -- which could be barriers to finding a new home.A lack of certainty around where they work is another contributing factor. According to Zillow's survey, the most common change for homeowners in the past six months is that they are working from home more often. Previous Zillow research finds two-thirds o. ...
Tuesday, January 14, 2020 / by Michael Axelrad, GRI
Wallpaper and more permanent decorations can be overwhelming and difficult to remove. Pro tip? Stick to neutral paint colors. Want more home selling tips? Message me to learn more! #realestate #home #houseexpert #homedecor #style #listreports #decor #realestateagent #findhamptonhomes
Tuesday, January 7, 2020 / by Michael Axelrad, GRI
JANUARY 6, 2020
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Has a Slowdown in Home-Price Increases Reversed Course?
Case-Shiller reported a higher home price increase of 3.3% in Oct., but it’s too soon to determine if it’s a new trend or a one-month exception.
NEW YORK – According to the Case-Shiller Home Price Index from S&P Dow Jones Indices and CoreLogic, October 2019 saw an annual increase of 3.3% for home prices across the country, which is up from the previous month’s pace.
During the month, the 10-city and 20-city composites reported a 1.7% and 2.1% year-over-year increase, respectively. Eight of 20 cities reported increases before seasonal adjustment, whereas 18 of 20 cities reported increases after seasonal adjustment.
Phoenix, Tampa, and Charlotte reported the highest year-over-year gains among all of the 20 cities.
“The Southeast region was also strong, as Charlotte, Tampa, and Atlanta all rose at greater ...
Sunday, April 10, 2016 / by Michael Axelrad, GRI
New colors in hardwood. Grey and White
Using ceramic tile in high traffic areas]
Cortech, a vinyl plank with a cork backing