Hawaii is the site of one of the nation’s first tests of strengthened foreclosure laws, and some say the Island State is proving that beefed-up laws designed to protect homeowners may only end up eroding stability in an already weak housing market.
Strengthened foreclosure laws in Hawaii may add to the eroding stability in the state’s already poor housing market.
The legislation, Act 48, was intended to address problems in the former foreclosure procedure, which some borrowers said was a too-rapid process that prevented them from being able to adequately fight for their homes, dispute weak documentation, or pursue loan modifications. T
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Tags: Foreclosure Laws, Laws
New home sales falling 2.1 percent below the rate for April according to the US Census Bureau
New home sales experienced a slight drop in May, falling 2.1 percent below the rate for April but posting notable gains from May of 2010, according to the US Census Bureau, who released their monthly sales numbers on Thursday.
The pace of sales last month was pegged at a seasonally-adjusted rate of 319,000, which was nearly 14 percent above May 2010’s new home sales number of 281,000. H
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Tags: Home Sales, New Home, New Home Sales, Sales
Fixed mortgage rates fell this week, and the rate on the 15-year loan dropped to its lowest point of the year.
The average rate on the 30-year loan decreased to 4.51 percent from 4.60 percent a week ago, Freddie Mac said Thursday. It reached its yearly low a month ago, at 4.49 percent.
The average rate on the 15-year fixed mortgage, popular for refinancing, fell to 3.65 percent from 3.75 percent. Its previous low this year was 3.67 percent, reached three weeks ago.
Rates typically track the yield on the 10-year Treasury note. Yields fell sharply last week after dismal jobs data pushed investors into the safety of government bonds.
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Tags: Rates, Rates Fall
Two communities in Ohio will soon be home to two new Pizza Hut restaurants thanks to Cleveland’s Goodman Real Estate Services Group.
Goodman recently leased space to relocate Pizza Hut to Shaker Commons in Shaker Heights, Ohio, and to Timber Stone Center in Sylvania, Ohio.
Pizza Hut today boasts 34,000 restaurants, delivery/carry-out locations and kiosks in 100 countries.
Gregory Gallas, senior associate at Goodman Real Estate Services Group, exclusively represents Pizza Hut in Cuyahoga County and the Toledo, Ohio, area.
Tags: Ohio, Pizza Hut
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