{"id":5655,"date":"2010-10-29T10:24:10","date_gmt":"2010-10-29T15:24:10","guid":{"rendered":"https:\/\/bhgrealestateblog.com\/?p=5655"},"modified":"2024-12-30T11:24:31","modified_gmt":"2024-12-30T16:24:31","slug":"week-in-review-what-we-liked-from-the-week-that-was","status":"publish","type":"post","link":"https:\/\/bhgrecareer.com\/bebetterblog\/week-in-review-what-we-liked-from-the-week-that-was\/","title":{"rendered":"Week in Review: What We Liked From the Week That Was"},"content":{"rendered":"<p style=\"text-align: justify\">As the <a href=\"http:\/\/www.npr.org\/templates\/story\/story.php?storyId=130861068\">worst storm<\/a> in 30 years tore through the <a href=\"http:\/\/voices.washingtonpost.com\/capitalweathergang\/2010\/10\/midwest_storm_by_the_numbers.html\">Midwest,<\/a> the foreclosure tornado continued to sweep across the housing industry. <a href=\"http:\/\/www.startribune.com\/local\/105859538.html?elr=KArksLckD8EQDUoaEyqyP4O:DW3ckUiD3aPc:_Yyc:aUvckD8EQDUr\">Clean up<\/a> in the Midwest will hopefully be swift; the same can not be said for <a href=\"http:\/\/www.msnbc.msn.com\/id\/39874969\/ns\/business-personal_finance\/\">the latter.<\/a> A <a href=\"http:\/\/www.businessweek.com\/news\/2010-10-27\/home-lenders-may-meet-with-states-over-foreclosures-this-week.html\">50-state task force<\/a> is hoping to change that by helping <a href=\"http:\/\/www.reuters.com\/article\/idUSTRE69P51620101027\">struggling borrowers<\/a>. Stay tuned\u2026<\/p>\n<p style=\"text-align: justify\">According to <a href=\"http:\/\/www.sfgate.com\/cgi-bin\/article.cgi?f=\/c\/a\/2010\/10\/25\/BUKB1G1NEU.DTL\">Bloomberg<\/a>, refinancing may be the only bright spot in the mortgage industry amidst \u201cshoddy loans and botched <a href=\"http:\/\/www.nytimes.com\/2010\/10\/24\/weekinreview\/24dash.html\">foreclosures.<\/a>\u201d \u00a0The number of people <a href=\"http:\/\/www.reuters.com\/article\/idUSNLLQLE6LJ20101027\">refinancing<\/a> increased last week as borrowing rates hover <a href=\"http:\/\/www.bloomberg.com\/news\/2010-10-27\/mortgage-applications-in-u-s-increase-spurred-by-lower-borrowing-costs.html\">near record lows.<\/a> Freddie Mac reported that in the third quarter, <a href=\"http:\/\/online.wsj.com\/article\/BT-CO-20101027-716232.html\">33 percent of homeowners<\/a> who refinanced lowered their principal balance.<\/p>\n<p style=\"text-align: justify\">Speaking of foreclosures, a suburban-Chicago town is refusing to let foreclosed properties drag down value in its neighborhoods. The <a href=\"http:\/\/www.city-data.com\/city\/Cicero-Illinois.html\">town of Cicero<\/a> is investing in foreclosed properties, fixing them up and selling them as subsidized housing, according to <a href=\"http:\/\/www.housingwatch.com\/2010\/10\/27\/foreclosure-buybacks-stabilize-illinois-town\/\">Housing Watch<\/a>. I like to see the community embracing the current market and turning it into something positive!<\/p>\n<p style=\"text-align: justify\">As <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/2e16a18c-e102-11df-87da-00144feabdc0.html?ftcamp=rss\">home prices fell<\/a> again in August, many wonder when we will <a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2010\/10\/26\/AR2010102601974.html\">reach the bottom.<\/a> Some industry analysts are calling for 2011, others suggesting <a href=\"http:\/\/blogs.wsj.com\/developments\/2010\/10\/26\/mortgage-bankers-push-housing-recovery-to-2012\/\">2012<\/a>. I am a firm believer in hoping for the best but expecting the worst\u2026 Speculation aside, actual numbers were released this week. \u00a0NAR reported that <a href=\"http:\/\/www.forbes.com\/2010\/10\/25\/housing-sales-up-equities-markets-bernanke.html?boxes=marketschannelnews\">existing home sales<\/a> in September <a href=\"http:\/\/online.wsj.com\/article\/SB10001424052702304248704575574400829506316.html?mod=WSJ_RealEstate_LeftTopNews\">rose 10 percent<\/a>, the biggest monthly gain in 28 years. (<a href=\"http:\/\/blogs.wsj.com\/developments\/2010\/10\/27\/new-home-sales-stuck-at-rock-bottom\/\">New homes<\/a> also climbed<a href=\"http:\/\/www.google.com\/hostednews\/ap\/article\/ALeqM5iG7JuWrshdK_h0BkKgfL9rpFfNDA?docId=32af5f4eaa044006a73fe68caa7b5e2d\"> 6.6 percent<\/a>).\u00a0 Here\u2019s to continuing to hope for the best!<\/p>\n<p style=\"text-align: justify\">In a week of extreme weather, it is fun to look at <a href=\"http:\/\/realestate.msn.com\/slideshow.aspx?cp-documentid=26082689\">extreme houses.<\/a> Long Island <a href=\"http:\/\/online.wsj.com\/article\/SB10001424052702304173704575578593795571402.html?mod=WSJ_RealEstate_LEADTopNews\">Georgian mansion <\/a>anyone?<\/p>\n<p style=\"text-align: justify\">Sadly, <a href=\"http:\/\/www.npr.org\/templates\/story\/story.php?storyId=130840438\">Paul the Octopus<\/a> has died. The sea creature gained international fame this summer by predicting all seven of Germany\u2019s <a href=\"http:\/\/www.reuters.com\/article\/idUSRTXTULD\">World Cup<\/a> contests.\u00a0 On a happier note, more than <a href=\"http:\/\/content.usatoday.com\/communities\/greenhouse\/post\/2010\/10\/amazons-amazing-species\/1\">1200 new species<\/a> have been discovered in the <a href=\"http:\/\/news.bbc.co.uk\/earth\/hi\/earth_news\/newsid_9127000\/9127412.stm\">Amazon<\/a> over the past decade.\u00a0 (If this news inspires you to be more environmentally friendly, check out 10 easy <a href=\"http:\/\/realestate.msn.com\/slideshow.aspx?cp-documentid=26101964\">energy-efficient upgrades<\/a>.)<\/p>\n<p style=\"text-align: justify\">Happy Halloween! (What may be <a href=\"http:\/\/www.cbsnews.com\/8301-503544_162-20020701-503544.html\">scarier <\/a>than ghosts and goblins this year may come in the form of the <a href=\"http:\/\/gawker.com\/5673921\/meet-the-gun+toting-tea-partier-who-beat-up-a-woman-at-rand-pauls-debate\">midterm elections<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the worst storm in 30 years tore through the Midwest, the foreclosure tornado continued to sweep across the housing industry. Clean up in the Midwest will hopefully be swift; the same can not be said for the latter. A 50-state task force is hoping to change that by helping struggling borrowers. Stay tuned\u2026 According [&hellip;]<\/p>\n","protected":false},"author":181,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[61],"tags":[1751,4881,7721,12881,15341,16571,17841,19511,20091,20891,24741,25641,26961,27631,28201,28331,31111,36091,38671,39821,41391,41641,47151],"class_list":["post-5655","post","type-post","status-publish","format-standard","hentry","category-commentary","tag-amazon","tag-bloomberg","tag-chicago","tag-elections","tag-foreclosure","tag-germany","tag-halloween","tag-homeowners","tag-housing-watch","tag-industry","tag-long-island","tag-market","tag-midwest","tag-mortgage","tag-nar","tag-national-association-of-realtors","tag-paul-the-octopus","tag-refinancing","tag-selling","tag-soccer","tag-storm","tag-subsidized","tag-world-cup"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Week in Review: What We Liked From the Week That Was - Better Homes and Gardens Real Estate Be Better Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bhgrecareer.com\/bebetterblog\/week-in-review-what-we-liked-from-the-week-that-was\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Week in Review: What We Liked From the Week That Was - Better Homes and Gardens Real Estate Be Better Blog\" \/>\n<meta property=\"og:description\" content=\"As the worst storm in 30 years tore through the Midwest, the foreclosure tornado continued to sweep across the housing industry. 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