Larry Roberts real estate writing blog

Wednesday, May 28, 2014

OCHN: Large real estate investor purchases steeply decline in California

Large real estate investors in California reject higher prices and stagnant rents and dramatically slow their purchases over the last 18 months.

Sales are slow across the country, but particularly in California, because prices are too high. When prices were low enough that investors could...
Large real estate investor purchases steeply decline in California

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Tuesday, May 27, 2014

Mortgage Foreclosure: Bring Back Paternalism in the Mortgage Market

I do not like government paternalism. When Ronald Reagan came to power and began our 25 year experiment with government deregulation, I thought it was a good idea. It used to really annoy me when I would see paternalistic politicians who believed they knew what was good for me and for society,...
Bring Back Paternalism in the Mortgage Market

San Diego Housing: Strategic default spread like a virus in 2011

One of the great advances which has come from the internet is the quick dissemination of useful information. In short, secrets don’t remain secret very long. Lenders don’t want borrowers to know that their friends and neighbors have stopped paying their mortgages, and their lives...
Strategic default spread like a virus in 2011

OCHN: 9.7 million loanowners carry out-of-the-money options gambling on bubble reflation

Negative equity is making ordinary homeowners into speculators in the options market, each betting on the continued reflation of the old housing bubble.

An option contract provides the contract holder the option to force the contract writer to either buy or sell a particular asset at a given...
9.7 million loanowners carry out-of-the-money options gambling on bubble reflation

Monday, May 26, 2014

Mortgage Foreclosure: Mortgage securitization is only as good as the mortgage loans packaged

Mortgage lenders will refinance or provide loan modifications to stop foreclosure. They securitize these loans and sell them to investors. I’ve noticed a meme floating around the bearish blogosphere portraying all securitizations as unstable financial products that should be...
Mortgage securitization is only as good as the mortgage loans packaged

Mortgage Foreclosure: Federal reserve study concludes foreclosures improve property values

There are many myths about housing markets perpetuated by banks and the financial press. Two of these myths include (1) keeping people in a house keeps up the values, and (2) foreclosures reduce neighborhood values. Many believe that allowing delinquent mortgage squatters to stay in place...
Federal reserve study concludes foreclosures improve property values

Mortgage Foreclosure: The biggest foreclosure myth of the housing bust

The financial mainstream media often tells people what they want to hear. They’ve learned they make more money by providing emotional support to people seeking reassurance rather than providing facts and accurate analysis. This is a shame because people often make important and complex...
The biggest foreclosure myth of the housing bust

Mortgage Foreclosure: Mortgage loan mess resolved or foreclosures merely delayed?

Reporters in the mainstream media convince beleaguered homeowners and potential homebuyers problems with bad mortgages is past; however, this may not be an accurate depiction. The mainstream financial media, in it’s insatiable desire to please and tell people what they want to hear,...
Mortgage loan mess resolved or foreclosures merely delayed?

Mortgage Refinance: What you must know about purchase mortgage applications

Purchase mortgage applications must increase to compensate for declining investor demand, a difficult proposition considering higher prices, tighter lending standards, and slow job growth. When a financed buyer contracts to buy a home, they apply for a purchase-money mortgage. The Mortgage...
What you must know about purchase mortgage applications

Mortgage Refinance: Will the "Ability to Repay" rules prevent reckless mortgage lending?

Qualified mortgage standards and the ability to repay rules provide a rigid framework designed to prevent lenders from irresponsibly inflating another painful housing bubble. The rules as drafted should achieve the desired effect. The housing bubble inflated because lenders underwrote huge...
Will the "Ability to Repay" rules prevent reckless mortgage lending?

USA Foreclosure: California’s Homeowner Bill of Rights will stop foreclosure

California’s Homeowner Bill of Rights will stop foreclosure without a foreclosure attorney. Learn new foreclosure laws for foreclosure help. The housing bubble and bust exposed many flaws in our property finance system, particularly related to foreclosures. The Dodd-Frank reform corrected many o...
California’s Homeowner Bill of Rights will stop foreclosure

Renter News: Can it be a good time to buy and a good time to rent?

The conventional wisdom is it’s either a good time to buy or it’s a good time to rent, but not both. Rising house prices and rising rents generally favor buying because the owner can lock in a fixed cost of ownership while profiting from appreciation. Falling house prices or stagnant...
Can it be a good time to buy and a good time to rent?