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Tag Archives: John Burns Real Estate Consulting

Median Home Prices Revert to Years Past: Report

The research firm John Burns Real Estate Consulting says if you're looking to find a comparable point of reference for current median home prices, prepare to take a trip back in time. On the positive end of the rankings, a bevy of Texas markets have reverted to circa 2006. Other especially hard-hit markets, such as Atlanta and Phoenix, have turned back the clock more than a decade. The nation's capital city, Los Angeles, and Fort Lauderdale fall somewhere in between.

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The Math Behind the Mortgage Interest Deduction

What many consider to be a staple of American homeownership is expected to be on the chopping block as lawmakers look to trim the nation's deficit. The prized mortgage interest tax deduction has been part of the federal tax code since 1913. Currently, it costs the U.S. Treasury an estimated $94 billion a year. Congress has tossed around several proposals for amending this part of the federal tax code, including lowering the debt limit to $500,000 on first mortgages. Such a move is estimated to return between $5 billion and $15 billion.

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Housing Report Card Points to Future Distress

John Burns Real Estate Consulting released a housing report card Thursday that confirms most key market indicators trending southerly, signaling more distress may be in store. The research firm notes that annual resale activity within the existing-home market has slipped to just over 5 million residences, and home prices by some measurements have dropped to 2002 levels. With these numbers, the firm says, affordability has never been better for entry-level buyers, or worse for move-up and move-down buyers.

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John Burns Crafts Proposal for REO Rental Solution

Since the homebuyer tax credit expired in the spring, homebuying activity has slowed by more than 30 percent, and analysts aren't expecting much of a rebound any time soon. At the same time, the number of homes for sale has risen and with foreclosures still escalating, REO inventories are only going to grow. To boost housing demand and limit supply, John Burns Real Estate Consulting has developed an REO rental housing proposal, with three key points, which includes establishing an REIT for bank-owned properties held by government agencies.

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John Burns Says the Shadow Inventory Is Stepping into the Light

That dreaded shadow inventory of homes that has captured headlines and gripped the industry and market analysts with angst is beginning to make its way out of the darkness, according to John Burns Real Estate Consulting. The firm says loan modifications were successful in delaying the inevitable foreclosure. But homes that have been stuck in that neverland of somewhere between delinquency and repossession are now winding their way through the foreclosure pipeline at a quicker pace and will soon come out the other end as a short sale or REO.

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