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ProBuilder Best Practices - Financial - Industry News

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  • Making Home Affordable Program on Pace
    Here's an update on the government's Making Homes Affordable program
  • Pace of Stimulus Spending Picks Up
    One-hundred-sixty-eight days after the $787 billion bill passed, Americans have been wondering: Where are their new bridges, their new sewers, their extra police officers, the solar panels on the government buildings? Most of all, where are the new jobs? For Ohio, like other states, it's a mixed answer.
  • Builders Shy Away from Foreclosed Homes
    In Milwaukee, and most likely in other cities across the U.S., there's money to be made renovating cheap, foreclosed homes, but hard-to-get loans are keeping contractors out of the market. This is how some builders are viewing the situation.
  • Homebuilder's Survival Strategy – Stimulus
    Here’s a look at how one homebuilder is looking to Uncle Sam, not for a bailout, but for a piece of the economic stimulus pie. Find out how he has put his creative strategy in place to keep his business going.
  • New Laws Proposed to Boost Home Sales
    Political leaders are proposing new legislation to help solve housing and mortgage problems for families who have experienced a job loss or other serious financial difficulty. Such proposals are often good politics, good for troubled families and good for the country. One proposed bill would create a $2 billion loan program for unemployed homeowners who don't qualify for other mortgages because they no longer have a steady income. The proposal, introduced by Rep. Barney Frank, D-Mass., resembles a 1975 program that provided credit to Americans who had lost jobs so they could keep their homes, reports DSNews.com.
  • Spec Homes Making a Return Appearance
    Home builders are becoming a bit more optimistic about future demand for their products, so much so that some are starting to build spec homes again. Find out what’s happening Missouri’s St. Charles County and elsewhere in their metropolitan area.
  • Sarasota Flip Activity Does Market Damage
    This investigative article that appeared in the Sarasota Herald Tribune details the account of rampant real estate flipping activity that occurred in that market from 1997 to 2008. The deals reportedly resulted in over $100 million of mortgage defaults.
  • New Home Valuation Code Seen as Threat
    The Home Valuation Code of Conduct is meant to improve the independence and accuracy of the home appraisal process, and provide protections to borrowers, buyers and investors. Here are some of the code's primary provisions.
  • Expanding Home Buyer Tax Credit to All Is On Table
    There isn’t any legislation to expand the tax credit to all home buyers just yet, but the Democratic Leadership Council has recommended such a move. The DLC says an $8,000 credit for move-up buyers makes sense and would benefit those who want to move up the housing ladder.
  • Stocks seek housing-market floor
    U.S. stock investors are fixated on housing to gauge economic growth going forward, with earnings from a home-improvement chain helping boost sentiment along with improving spirits among home builders.
  • What Fannie, Freddie Say About Banks
    Fannie Mae's and Freddie Mac's first-quarter results do not bode well for a quick recovery in housing or bank balance sheets dependent on it. Here's why.
  • Bank-Owned Homes Go Fast in Vegas
    Headlines scream almost daily about soaring foreclosures. The good news in Las Vegas is that bargain-hunting buyers are chomping through the foreclosure inventory at a faster pace than other parts of the nation.
  • Beazer Homes Introduces 'Beazernomics' to Help Educate Prospective Buyers
    After a recent survey that found a surprising number of potential buyers who were unaware or misinformed about many of the advantages of buying a new home now, Beazer Homes decided to do something about it.
  • Illinois Homebuilder The Kirk Corporation Files for Chapter 11 Reorganization
    The Kirk Corporation, the award-winning builder of homes throughout the Chicagoland area, announced that it has voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the Northern District of Illinois.
  • “Warehouse” Mortgages Dry Up, Hurting Borrowers
    Here's another reason it might be harder and more expensive for borrowers to get a mortgage today, even though average rates on the 30-year fixed-rate mortgage are still near record lows: The disappearance of many warehouse lending lines.

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