Best of the Blogs, Real Estate: How the Local Wal-Mart Could Be Boosting Your Home Value
Plus, why housing will have a big impact this election.
MINYANVILLE ORIGINAL This column highlights the most interesting and useful financial commentary on real estate from around the Web every Friday.
Link: Economists: Being Near A New Walmart Actually Increases Home Values
"While the sight of a new Wal-Mart (WMT) store going up always causes some area residents to frown, a new report claims that houses within the immediate area of a new Wal-Mart actually see a slight uptick in value."
Reality Biz News
Link: Housing Set to Have a Big Impact on Elections
"Housing is normally not a push-button issue when it comes to presidential elections. However this November's election is shaping up to be the exception. While at the moment the housing crisis is not the center of either President Obama's or Mitt Romney's campaign platform, several recent survey's indicate it soon will become one whether they want to talk about it or not."
Link: Rancho Financial brings back stated-income mortgages
"Preparing for the return of the jumbo lending market and the days when Fannie Mae (FNMA) and Freddie Mac (FMCC) are no longer mortgage finance behemoths, Rancho Financial is bringing to market loans often blamed for the destruction of the nation's housing economy."
Link: Economy Watch: Foreclosures on the Rise
"RealtyTrac reported on Thursday that US foreclosure filings spiked 9% in May compared with April, by which the company means an aggregation of properties vexed by default notices, scheduled auctions or bank repossessions. Yet foreclosures still aren't occurring at the same rate as a year ago. Year-over-year, the rate in May 2012 was down 4% compared with May 2011."
Link: Private Equity Has Too Much Money to Spend on Homes
"Investors are trying to spend at least $6.4 billion on single-family rentals, including from funds such as Colony Capital LLC, GTIS Partners, KKR & Co., Oaktree Capital Group LLC (OAK), Och-Ziff Capital Management Group LLC (OZM), and the Alaska Permanent Fund Corp. They want to take advantage of US home prices that are 35% below the 2006 peak and growing demand for rentals as the homeownership rate sits at the lowest level since 1997."
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