Category: underwater

Let's apologize media: There really was a housing bubble

A recent reader of my blog — check one post down — took me to task a bit, asking me, in essence, why the media so often get a free pass for the role they played in the housing boom and bust that sent the country into the Great Recession. Well, that reader is right.... Read more »

I'm refinancing. So far, I don't like it

I decided to give it another try. And by “it” I mean refinancing. Everyone tells me I’m crazy for not taking the steps I need to lower my interest rate, especially since I cover real estate. I should know better than most just how much money doing this will save me. Here’s the problem, though;... Read more »

Do we really want Realtors to market to us?

As a freelance writer, I sometimes write things that I don’t really believe. It comes with the job. I think about this every time I get a new e-mail from a local Realtor in my inbox. The problem is, I never asked for this Realtor to send me any of his obviously automated messages. I... Read more »
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Why so stressed out Chicago?

Trying to get to work each morning in the Chicago area is no easy task. Housing values here are falling. The unemployment rate in Chicago stood at 10.5 percent in July, higher than the national average. And a new report from the Federal Reserve said that the economy in Chicago is actually slowing. It’s all... Read more »

Trouble refinancing? Keep calling

People don’t like mortgage lenders. It’s not hard to understand why. I’ve been trying for the last two days to determine if I can refinance my existing mortgage loan. The problem is that I’m underwater, owing more on my home loan than what my residence is worth. To refinance, I’ll need to rely on the... Read more »

My bad housing day

I’ll have to mark today down as one my bad housing days. Of course, I’m far from alone. Many of us woke up this morning to the disturbing news that home sales had fallen to a 15-year low. This is amazing. Home sales dropped an all-time high of 27 percent from June to July. Yep,... Read more »
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Here's the scary part: There's no rule that housing has to appreciate

We’re all waiting for housing values to start to rise again. Right? I know I am: I’m underwater on my home, owing more on my mortgage loan than what my house is worth. I’d love for this to change. But what if it doesn’t? That’s the question that a recent New York Times story ponders.... Read more »

That rent vs. buy question doesn't look so obvious anymore

During the height of the residential real estate boom I’d often write the rent-vs.-buy story. If you’ve read the real estate section of any newspaper in the last 10 years, you’ve undoubtedly stumbled across some version of this story: Does it make more financial sense to buy a home or rent an apartment? During the... Read more »

If this is such a great time to buy a home, why aren't more doing so?

A few weeks ago, I spoke with Louis Cammarosano, general manager with HomeGain, about a wide variety of topics, everything from why so many real estate agents across the country don’t like Pres. Obama to why home sellers and their agents have such a wide disconnect between what their homes are worth. At some point... Read more »
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Fearing the appraisal in Chicago

Beki Darin I’d love to refinance my mortgage loan. Problem is, I don’t think my modest single-family home in Chicago’s west suburbs would appraise at a high enough value. In fact, I’m pretty certain that I am one of the many Chicago-area homeowners who is underwater. For those not in the know, this means that... Read more »