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(Bloomberg) The U.S. mortgage delinquency rate declined in the first quarter to the lowest level since 2008 as an improving job market helped more borrowers pay their bills and tighter lending standards resulted in fewer defaults.
The share of home loans at least 30 days late dropped to 7.4 percent from 7.58 percent in the previous three months, according to a report today from the Mortgage Bankers Association. The rate peaked at 10.1 percent in the first quarter of 2010 and was last lower in the third quarter of 2008, when it was 6.99 percent. <more>
INDEX
Buying Foreclosures and Short Sales
More Americans Have FICO Scores of 800+
By Martha C. White | May 14, 2012 | from TIME Moneyland
Could this be a light at the end of the credit crisis tunnel? According to new research from Fair Isaac Corporation, the company responsible for FICO scores, the percentage of Americans with top-notch credit scores is the best it’s been since 2008. In addition, the number of people in the bottom tier of the credit spectrum has fallen to pre-recession levels. <more>
Are you gearing up to buy your first place? Shopping for a home is exciting, exhausting and a little scary, especially in this market. In the end, your aim is to end up with a home you love at a price you can afford. Sounds simple enough, right? Unfortunately, many people make mistakes that prevent them from achieving that simple dream. This article from Investopedia will help arm yourself with these tips to get the most out of your purchase and avoid making 10 of the most costly mistakes that could put a hold on that sold sign. <more>
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Slow Income Growth; Housing Continues Uneven Recovery
(Fannie Mae) — WASHINGTON, DC – Despite economic growth of 3.0 percent annualized for the fourth quarter of 2011, incoming data suggest that economic growth slowed during the first quarter of 2012. In line with previous forecasts, Fannie Mae’s (FNMA/OTC) Economic & Strategic Research Group expects growth to slow to slightly more than 2 percent in the first quarter of the year.
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Jobless rate in Tampa region falls to 8.9%
TAMPA --
The Tampa area added 20,200 jobs over the year that ended March 31, pushing the regional unemployment rate lower than the overall state figure for the first time since the peak of the housing bubble in mid-2006.
Figures released Friday by the state Department of Economic Opportunity and the federal Bureau of Labor Statistics showed employment continues to improve across Florida with the state's largest counties leading the way. <more>
There is no perfect temperature for your water heater
What's the best temperature to set your water heater to? There's no single great answer. The American Society of Sanitary Engineering Scald Awareness Task Group recently released a white paper on this topic, which essentially says that there is no perfect temperature to set you water heater to.
What's a safe temperature for water?
Minneapolis Home Inspections - Reuben Saltzman
The Cuban Sandwich War is over. Tampa wins!
by Scott Finn
After an incursion by the upstart Miami Cuban community, the people have spoken – Tampa is the true home of the Cuban sandwich. <more>
TAMPA — The City Council on Thursday approved a long-term lease that clears the way for Tampa's historic but vacant federal courthouse to be reborn as a boutique hotel. <more>
Short Sale Homes
With the current economic conditions the number of foreclosures and short saleproperties on the market is significant, making it an ongoing issue for many REALTORS®
who may not be as experienced with the process and have the unenviable task of clearing these sales as efficiently as possible. <more>
Homeowners association rents home it doesn't own
WESLEY CHAPEL --
Joanne McCarn owns her home, but her homeowners association has taken it over and calls the sheriff's office if she comes near the property.
What's more, the Bridgewater Community Association evicted her tenant, changed the locks and moved in its own renter. <more>
TAMPA — Tampa Mayor Bob Buckhorn put pen to paper this morning and signed a domestic
partnership registry into law, just two weeks after it received final approval from the City Council. <more>
Housing Bottom Sighted by Some Economists
Mark Davis, chief economist at Moody’s Analytics, believes that the worst may be over for the troubled housing market in the United States. He is not alone in this sentiment: a senior economist at Bank of America also thinks that home prices will finally stop the vertiginous path of descent they have been on over the last few years, and the Chief Economist at Zillow believes the trough is near. <more>
Foreclosures Enjoy a Reprieve
When the foreclosure settlement agreement between the five major mortgage lenders in the United States and the attorney generals was signed, approved and implemented earlier this year, real estate and mortgage analysts warned of a sudden avalanche of foreclosures. Alas, that has not been the case, according to a recent report from a leading mortgage servicing entity. <more>
Home Prices Rise in Half of U.S. Cities as Markets Stabilize
By Prashant Gopal - May 9, 2012 12:13 PM ET
(Bloomberg) -- Michelle Meyer, a senior economist at Bank of America Merrill Lynch, talks about the U.S. economy and real estate market. She speaks with Tom Keene on Bloomberg Television's "Surveillance Midday." (Source: Bloomberg) .The U.S. housing market is showing signs of bottoming as improving employment and record-low mortgage rates boost demand while inventories of available properties tighten. At the end of March, 2.37 million previously owned homes were available for sale, 22 percent fewer than a year earlier, the Realtors said. <more>