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Lenders repossessed more homes in August than they have since the beginning of the housing crisis. On a good note, the number of houses entering the foreclosure proess declined for the seventh month in a row according to foreclosure firm RealtyTrac Inc.

Banks have increased foreclosures to clear out their inventories of bad loans. Banks repossessed 95,364 homes last month. RealtyTrac says they still have many thousands to go.

Analysts predict that this…

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The National Association of Realtors has reported that home affordability is at its best level since they began keeping track of the statistic in 1970. In January it stood at 158.5.



It's easy to want to focus on purchasing a home at the absolute bottom of the market place. Experts don't know if we have bottomed yet or not. But you should think about more than price when evaluating your timing on making a home purchase.



Take into account what the affordability index… Continue

LIttle more than a week ago the Senate overwhelming approved the American Housing Rescue and Foreclosre Prevention Act, H.R. 3221. Now the bill is in the House. Thousands of American families are hoping for speedy passage in an effort to avoid foreclosure.



H.R. 3221, the American Housing Rescue and Foreclosure Prevention Act, contains several provisions that would help put the economy back on track, save jobs and restore confidence. The bill would:



•Create a temporary,… Continue

The National Association of Realtors has rolled out first quater home prices. One of three metropolitan areas in the United States showed rising home prices in the first quarter of 2008. Reno was not one of these markets.



Reno posted a first quarter loss of 12.9% according to the NAR study. The median home value in Reno now stands at $283,300. During the peak year for values, 2005, the median stood at $349,900. That represents an overall drop of 19%.



Yesterday, Zillow… Continue

If you are waiting to buy at the bottom, buy now. We won't be on the bottom much longer according to the experts.



Lawrence Yun, NAR chief economist, says the real estate market will come into clearer focus this summer. “Existing home sales could start to show a sustained increase within a few months, unless there are some additional economic problems or excessive inflationary pressure,” he said. “We’re looking for essentially stable sales in the near term, before higher mortgage loan… Continue