FC Maintenance Costs, Wells – Warren – Mortgages, New Repurchase Risk, Delinquencies Cleanup, Best FC and Housing States To Buy, Wealthy Capitulate

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Investors spent more than $9 billion a year on foreclosures – Posted by kpanchuk – … repairing damages caused by foreclosures. … The median price paid by investors restoring properties is $7,500 a unit. About 20% plan to spend $10,000 to $30,000 revamping their next home. … – Housingwire

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(hint: mortgages) Why Is Wells Fargo Warren Buffet’s 2nd Biggest Holding? – by Cineqt – Seeking Alpha
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(new type repurchase risk?) Analysis: Housing regulators loosen rules, but at what cost? – Rick Rothacker and Dan Wilchins – Reuters – … Under the new regulations, starting with loans sold to Fannie Mae and Freddie Mac in January, if the borrower makes payments for 36 consecutive months, banks cannot be asked to buy them back due to underwriting or appraisal problems. So if the borrower did not have enough income to qualify for a loan to begin with but Fannie Mae or Freddie Mac did not notice for three years, the bank could not be pressed to buy back the loan. … – Chicago Tribune

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(good charts too) 2.4mm delinquent loans to be resolved in 2012; shadow inventory declining rapidly… Americans have become fairly efficient at clearing out delinquent home inventory. This is what makes the US so different from Japan for example. At this pace the so-called shadow inventory drag on the housing market will diminish rapidly in the next couple of years. … – Sober Look Blog

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10 States Where You Can Get Unbelievable Discounts On Foreclosed Homes – Mamta Badkar – Business Insider

and
The 15 Best Housing Markets For The Next Five Years
– Mamta Badkar – Business Insider

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Wealthy home sellers capitulate, high end prices drop – By Robert Frank, CNBC.com – USA Today

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