As the real estate market begins to recover, new research from the Urban Land Institute (ULI), a nonprofit education and research group, says the "old normal" will not be returning. According to a new study released by the organization, emerging trends in demographics and consumer behavior will become major drivers of new housing opportunities, resulting in a residential market vastly different from the one that existed prior to the recession.
The Federal Trade Commission has proposed a new rule that would prohibit third parties, including loan modification specialists and loss mitigation attorneys, from collecting payment for foreclosure prevention services until after they obtain a documented offer from a lender or servicer for a modification or other form of mortgage relief.
A new study from PMI Mortgage suggests home prices have found their bottom. The company's data shows that residential property values began stabilizing considerably during the middle part of last year. PMI says the likelihood that home prices will drop lower over the next two years is diminishing for most large metro markets, but the company cautioned that high unemployment rates and rising foreclosures continue to threaten a full recovery.
U.S. Rep. Judy Biggert of Illinois has introduced new legislation designed to ramp up congressional oversight of the government-controlled mortgage giants Fannie Mae and Freddie Mac. The bill would require the two companies to submit regular reports to Congress and the public disclosing the intricacies of their businesses, including executive bonuses, foreclosure mitigation, and investments.
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Rob Alley, Realtor
Keller Williams Realty
540-250-3275
roballeyrealtor@gmail.comhttp://www.charlottesvillevarealestate.blogspot.comhttp://www.robsellscharlottesville.comOh, by the way, I am never too busy to work any of your referrals.
Each Office Independently Owned and Operated
Licensed to Sell Real Estate in the Commonwealth of Virginia
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