Foreclosure mess scares off homebuyers: Campbell/Inside Mortgage Finance

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October Trends in Existing Home Sales, a presentation from Campbell/Inside Mortgage Finance Monthly Survey on Real Estate Market Conditions. Thomas Popik, Campbell surveys research director, highlighted several key trends from the survey in October: # Investor Purchases of REO Are Declining # First-time homebuyers largely Support the Market

Whether you're looking to purchase a foreclosure as your primary residence or as an. estate market has many homebuyers taking a closer look at buying a foreclosed home. "A bank isn't going to give a property away," Gumbinger cautions. 30 Yr. Fixed – Mortgage Rates from Our Lenders in California.

Home prices fall, but inventory levels improve

Reports of foreclosure disputes are sending buyers scurrying from short sales and transactions involving REO properties, on top of cancellations and delays stemming from servicing issues. Along with a reduction in the market share of foreclosure sales, fall-off in demand among investors and buyers.

The number of first-time homebuyers coming to market this spring is not enough to absorb the amount of housing inventory on the market. The percentage of first-time homebuyers searching for a property fell to 35.7% in April, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.

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What’s more, buyers of distressed properties have become gun shy due to the foreclosure processing problems, according to a Campbell/Inside Mortgage Finance survey of real estate agents. The poll found 14 percent of owner-occupant homebuyers and 6 percent of investors refused to view foreclosed properties in October.

Campbell/Inside Mortgage Finance of Real Estate Market Conditions reports that homebuyer declined in May, as would be expected with the end of the latest federal home purchase tax credit.

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Fixed mortgage rates fell to all-time record lows this week following the Federal Reserve’s announcement of "Operation Twist." The central bank’s new stimulus policy entails reinvesting principal payments from its holdings of GSE debt and mortgage-backed securities back into new mortgage bonds issued by Fannie Mae and Freddie Mac.

The Foreclosed House You're Buying Is Probably A Mess – Business. – Cement in the toilet, stripped wires and pipes, giant holes in the walls.. more scary tales about what they discover when they step inside a. undamaged foreclosures or short sales, according to the Campbell. Under this law, any person that damages property, causing the lender to suffer a financial loss,