Larry Roberts real estate writing blog

Monday, October 20, 2014

USA Foreclosure: Mortgage fire is realization of American Dream

According to Wikipedia: The American Dream is a national ethos of the United States, a set of ideals in which freedom includes the opportunity for prosperity and success, and an upward social mobility achieved through hard work. In the definition of the American Dream by James Truslow Adams in ...
Mortgage fire is realization of American Dream

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OCHN: As personal finances improve, debt collectors come calling

Lenders didn’t collect on bad debts during the recession when borrowers were broke, but now that personal finances are improving, lenders want their money.

Most borrowers who defaulted on debts during the recession waited anxiously for their lenders to come after them for the bad debt....
As personal finances improve, debt collectors come calling

Sunday, October 19, 2014

Loan Mod Default: Will the high cost of FHA financing derail the housing recovery?

First-time homebuyers are the foundation of the housing market. Move-up buyers need first-time homebuyers to purchase their property to provide the equity to make the move up possible. With the collapse of toxic loan products from the bubble, first-time homebuyers suddenly needed to have...
Will the high cost of FHA financing derail the housing recovery?

USA Housing: Sell now, mortgage interest rates to keep rising

The conventional wisdom is that fence-sitting buyers buy homes in reaction to rising interest rates for fear of being priced out of the housing market. In the past, this has often been the case, mostly because realtors use this scare tactic to generate quick commissions. However, with the...
Sell now, mortgage interest rates to keep rising

OCHN: Los Angeles County Housing Market News: October 2014

Historically, properties in this market sell at a 9.5% discount. Today’s discount is 11.7%. This market is 2.1% undervalued.
Median home price is $475,200 with a rental parity value of $536,800. This market’s discount is $61,600.
Monthly payment affordability has been improving over...
Los Angeles County Housing Market News: October 2014

Saturday, October 18, 2014

Ponzi Debt: Ponzis want another chance at free mortgage money

The desire for home ownership is stronger than ever. There are many emotional reasons to covet home ownership, and these are valid reasons to buy a house. However, over the last 30 years, the desire to own a home for family and security has been darkened and twisted by the desire to make...
Ponzis want another chance at free mortgage money

Friday, October 17, 2014

Debt Default: Strategic default pays off as defaulters repurchase at lower prices

Many borrowers chose not to struggle with onerous house payments early in the housing bust and strategically defaulted. Most of these borrowers recognized their payments were greater than the cost of a comparable rental, and with falling prices, there was no return for this added investment. The...
Strategic default pays off as defaulters repurchase at lower prices

Housing Market: One man"s mortgage debt is an entire neighborhood"s equity

Residential real estate is generally valued by comparable neighborhood sales. When a property sells for a new high price, it doesn’t just affect the value of that property, it impacts the value on all similar properties within a mile of the new sale. During the housing bubble, neighbors...
One man"s mortgage debt is an entire neighborhood"s equity

OCHN: Will the CAr 2015 housing market sales forecast be way off?

The California Association of realtors housing market sales forecasts for 2013 and 2014 were way off. How bad will their 2015 miss be?

Past performance is not always the best indicator of the skill of forecasters. For example, if meteorologists issue a standard forecast for weather in Southern...
Will the CAr 2015 housing market sales forecast be way off?

Thursday, October 16, 2014

Real Estate Loan: Looser lending standards won"t inflate another housing bubble

Lenders lower standards to qualify more borrowers and increase business, a precursor to another bubble, but only if risk is again mispriced. The recipe for a housing bubble takes many ingredients, and loose lending standards are one of them; however, it requires a gross mispricing of risk and...
Looser lending standards won"t inflate another housing bubble

OCHN: Is real estate the best asset class for the 21st century?

Will continuing population growth and shortages of housing and farmland make real estate the asset class to invest in during this century?

Where is the best place to put your money today? At the bottom of the credit cycle, super-low interest rates inflate the value of all assets because...
Is real estate the best asset class for the 21st century?

Wednesday, October 15, 2014

OCHN: Slow wage growth limits home price appreciation

The fundamental driver of home price appreciation is wage growth, and the housing market is stalling due to slow wage growth and weakness of the US economy.

Financed buyers complete most home sales, so the borrowing power of financed buyers generally sets the prevailing price levels in most r...
Slow wage growth limits home price appreciation