Archive for October 10th, 2007

Why homes are lost studied

Wednesday, October 10th, 2007

Susan Foley, recently appointed “foreclosure czar” for the city of Denver, has seen firsthand the impact of people losing their homes.”This is a very passionate issue for me,” Foley said at a Neighborhood, Community & Business Revitalization Committee meeting Tuesday afternoon.

After the meeting, Foley, a planner for Denver’s economic development office for the past 20 years, noted that she is also a real estate agent when not on the city clock.

“As a Realtor, I’ve seen what foreclosures do to families and homeowners,” Foley said. “And as a planner, I know how important homeownership is to a community and a neighborhood.”

Lower risk of home-price decline

Wednesday, October 10th, 2007

An index that charts the risk of home-price declines across the United States is giving Silicon Valley a slightly improved forecast.

The odds Silicon Valley homes will fall in price over the next two years have dropped slightly to 43.3 percent from previous estimates, though the drop isn’t big enough to get very excited about.

It remains quite a bit higher than the national average of 32.9 percent for the 50 regions studied by PMI Mortgage Insurance, though less than the risk in swaths of Southern California and the Central Valley.

Dallas-Fort Worth continues to rate as one of the most stable markets in the country for home values

Wednesday, October 10th, 2007

A study released Tuesday by home mortgage insurer PMI Group predicts there is less than a 10 percent chance D-FW prices will fall during the next two years. Nationwide, the odds are more than 30 percent of a decrease in home prices.

The mortgage insurance company, based in Walnut Creek, Calif., analyzes housing price trends in 50 U.S. metropolitan areas for its quarterly report.

Major Texas cities in the study are considered among the least likely in the country to see home price declines.

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