Some of the Harris County chapter of Habitat for Humanity low-income homeowners are facing foreclosure because of the high escrow fees and escalating mortgage payments. Residents of the Cherie Cove subdivision in northwest Harris County blame the nonprofit agency for creating conditions that could force some families out of their homes. "They’re not working with [...]
Voices speculated that the housing market will head to a ‘double dip’ where prices fall below their last year lows. These speculation had the recent drop as a background, but a new study now says the trend is unlikely to bear out. Clear Capital, who authored the study said that while price gains dropped more [...]
With the collapse of the housing market nearly every area around the country has had serious issues. According to a recent study, Houston area has weathered the storm much better than most. The MetroMonitor study, authored by the Brookings Institute Metropolitan Program ranked Houston 10th in terms of economic performance during the recession, finishing in [...]
While there were serious drops in home sales in July, and that gave a gloomy outlook for the nation’s economic recovery, we can’t say that everything is so doom. For instance in Fort Bend County, the housing industry is in a very good shape compared with the east or west coast where home values plummeted [...]
A Houston area foreclosure specialist, Michael Weaster talks about 5,500 homes available in the Houston MLS. About 10% or around 550 homes are in distress, which means either a foreclosure or short sale – the recent reports reveal. The hardest hit areas for foreclosures were places like Missouri City and Stafford, said Weaster, but this [...]
The number of foreclosures in Houston is falling, which is a very good sign, but that doesn’t mean the economy is recovering at all. Especially, when the decline is followed by other signs of distressed economy and housing market. According to the Mortgage Bankers Association there is a slight improvement in Houston regarding foreclosures: just [...]
The latest report on home sales showed in impressive decline of new home sales in July in Houston. June represented 315,000 homes sold, instead of July, when only 276,000 of the available inventory was sold. The 12.4% drop was the lowest on record for new home sales. The United States Commerce Department reports a 32.4 [...]
