News

Gerner & Kearns Co., L.P.A. (G&K), announced the addition of two new attorneys to its Litigation Department: Elizabeth A. McCord and Kyle M. Winslow.

A recent survey from LendingTree shows the majority of current and potential homeowners have a bright outlook on the nation's housing market and economy for 2014—which may translate to a more active market. According to the findings, more than two-thirds—69 percent—of respondents have a positive outlook on housing this year, and 71 percent of current homeowners are thinking of selling their homes if trends remain positive.

The Bank of Union in El Reno was forced to shutter its doors Friday by the Oklahoma State Banking Department, which appointed FDIC as receiver. To protect depositors, FDIC announced a purchase and assumption agreement with Oklahoma City’s BancFirst, which will assume all of the failed bank’s $328.8 million in deposits (as of Q3 2013) and $225.5 million of its assets. The collapse was the second one in the United States so far in 2014 and the first one in Oklahoma since June 2012.

Joining the broadcast today to discuss the new qualified mortgage rules is Chris Whalen, Executive Vice President and Managing Director for Carrington Holding Company. Carrington operates in virtually every aspect of the real estate and mortgage space. Chris currently writes ...

An estimated 44,000 homeowners received permanent loan modifications from mortgage servicers during the month of November under both proprietary servicer programs and the government’s Home Affordable Modification Program (HAMP), HOPE NOW reports. While that total represents a 12 percent decrease from the 50,000 loan mods completed in October, the most recent data show a steeper 20 percent decline in foreclosure sales and a 17 percent decline in foreclosure starts between October and November.

While the housing market is still far from “normal,” it is inching that way, according to a report released Thursday from Zillow. Last year’s skyrocketing home price appreciation, frenzied demand from investors, and high tide of negative equity are all expected to subside somewhat this year, according to the real estate company. A number of unsettling trends started to emerge as a result of rapid and ultimately unsustainable appreciation last year, according to Zillow, but markets that posted the highest price gains in 2013 are already slowing.

Mortgage rates may be rising, but the housing market doesn’t seem to mind. In fact, several indicators have improved alongside rising rates, according to the HousingPulse Tracking Survey released this week. The lending atmosphere is becoming friendlier, especially to first-time buyers. Simultaneously, the average time on market for non-distressed properties and the average sales-to-list price ratio both improved year-over-year in December.

Total existing-home sales--including all completed transactions of single-family homes, townhomes, condominiums, and co-ops--increased 1.0 percent month-over-month to a seasonally adjusted annualized rate of 4.87 million last month, according to the National Association of Realtors (NAR). November's sales rate was revised down to 4.82 million. Even with prices and mortgage rates slated to rise, NAR president Steve Brown says sales should hold strong in 2014 as job numbers improve. That doesn't mean the year won't be without challenges, though.

It's been a quiet week for mortgage rates, which drifted down slightly as markets wait to see what comes of the Federal Open Market Committee's next meeting in late January.

Ever since the economy took a hit in 2008, downsizing has been a top priority for many homeowners and renters. The McMansion is out; low-maintenance living is in. You can see it in traditional listings as well as on the real estate auction block. With finances still in flux for most Americans, cutting back on monthly costs of maintaining a home or apartment is essential. Enter the micro apartment—the latest trend in economical living space.