The Krain Blog

February 2010 - Posts

• Foreclosure Prevention Has Aided 116,000

  In its first year, about 12 percent of home owners who sought loan modification have received help under federal foreclosure prevention plans. Read more > Read More... Posted Friday, February 19, 2010 5:39 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• 2010: The Year of the First-Time Buyer?

  The conditions are right for a substantial increase in first-time buyers this year, but these inexperienced consumers could make some mistakes. Read more > Read More... Posted Friday, February 19, 2010 5:38 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Top 5 Most Affordable U.S. Markets

  Find out which areas of the country you can get the most house for your dollar. Read more > Read More... Posted Friday, February 19, 2010 5:37 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Program to Shore Up HAMP Announced

  President Obama is expected to announce a new program to prevent foreclosures for hard-up home owners in hard-hit states. Read more > Read More... Posted Friday, February 19, 2010 5:36 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Vacant Lots Become Hot Property

  "The country needs 1.2 million new units for the next 10 years just because of population growth," says one investor who has snagged thousands of vacant lots all over the United States. Read more > Read More... Posted Friday, February 19, 2010 5:36 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Shadow Inventory Unlikely to Hurt Market

  Experts believe that strong investor demand for foreclosures will keep prices from falling more. Read more > Read More... Posted Friday, February 19, 2010 5:35 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Secure a Lender Quickly for Tax Credit

  House hunters looking to take advantage of the home buyer tax credit will need to line up financing from lenders who work in a timely manner. Read more > Read More... Posted Friday, February 19, 2010 5:34 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Construction Up Along With Builder Confidence

  New-home construction rose 2.8 percent in January giving builders more confidence that the recovery is beginning to take hold. Read more > Read More... Posted Friday, February 19, 2010 5:33 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Mortgage Applications Jump Last Week

  According to the Mortgage Bankers Association, mortgage applications rose 21 percent last week from the week prior, reaching levels last seen in mid-December. Read more > Read More... Posted Monday, February 08, 2010 8:00 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Housing Inventories Up Slightly in January

  Although they usually spike this time of year, inventories did not rise that much between December 2009 and January 2010. Read more > Read More... Posted Monday, February 08, 2010 7:59 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Lifeline Needed for Underwater Home Owners

  With millions of Americans owing much more than the value of their home, the government is weighing options to help the fragile economy. Read more > Read More... Posted Monday, February 08, 2010 7:59 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Fannie, Freddie Go After Bad Loans

  The agencies are forcing banks and savings and loans to buy back loans with poor documentation about a borrower's income. Read more > Read More... Posted Monday, February 08, 2010 7:58 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• The Homeownership Rate Declines

  The American homeownership rate has been steadily dropping since reaching a high in 2004. Read more > Read More... Posted Monday, February 08, 2010 7:58 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Mortgage Rates Top 5%

  Although average rates passed the 5 percent mark, they're still relatively low. Read more > Read More... Posted Monday, February 08, 2010 7:57 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• FHA Relaxes Anti-Flipping Rule

  Beginning this week, the Federal Housing Administration changed its "anti-flipping rule" to try to speed up sales of renovated homes in communities with too many bank-owned and foreclosed homes. Read more Read More... Posted Monday, February 08, 2010 7:56 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Real Estate CEOs Say Business Is Improving

  Members of the Real Estate Executive Roundtable are more confident that the industry is on the mend this year, but concerns still surround public policy and job creation. Read more > Read More... Posted Monday, February 08, 2010 7:56 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Pending Home Sales Stabilize

  NAR's forward-looking indicator, which is based on signed contracts, increased 1 percent in December and remains nearly 11 percent above levels from a year earlier. Read more > Read More... Posted Monday, February 08, 2010 7:55 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• 10 Home Features Buyers Want

  Find out the top items that buyers most frequently ask for in their search for a new home, according to a new survey on buyer preferences. Read more > Read More... Posted Monday, February 08, 2010 7:54 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Don’t Forget to Vote!

  Remember that elected officials at the Federal, State, and Local level make decisions that can impact the Real Estate Industry. The Primary Election in Illinois is Tuesday, February 2, 2010 . Polls will be open from 6:00 AM – 7:00 PM For additional Read More... Posted Monday, February 01, 2010 2:23 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Profile of Home Buyers and Sellers, Chicagoland

  Chicago continues to be a vibrant market for first-time homebuyers. Fifty-nine percent of people who bought homes in the Chicago area last year were first-time buyers, compared to just 47 percent nationwide. Most any type of buyer can find attractive Read More... Posted Monday, February 01, 2010 2:14 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• Commercial Outlook

  Owners of rental housing are well positioned to thrive, as demand for apartments is strong and NAR projects it will rise in 2010. Overall, commercial real estate is facing a quick-changing landscape in which issues of employment and credit availability Read More... Posted Monday, February 01, 2010 2:14 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments

• 2009 Year-End Data

  December marked the sixth straight month of positive home sales news in the Chicago area. More than 5,700 homes sold locally in December 2009, a 33 percent increase above the number sold in December 2008. Pending home sales are significantly above where Read More... Posted Monday, February 01, 2010 2:13 PM by KRAIN - Commercial and Residential Real Estate | 0 Comments