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Home Flaws a Wise Buyer Should Ignore

Wed, 16 May 2012 13:37:50 EDT

NEW YORK (MainStreet) -- As homeowners, many of us learn to live with out-of-date wallpaper, "tired" kitchen cabinets or balky appliances. These and other flaws sit on the to-do list until money, spare time and inclination are just right, and then we fix them and wonder why we didn't do it sooner.

But as homebuyers, many of us, save a few diehard do-it-yourselfers, turn into perfectionists. After all, who wants to shell out hundreds of thousands of dollars for a home that needs work right away?

But that attitude can be self-defeating, causing buyers to pass up good homes over trivial issues, says HSH Associates, the mortgage-data firm. Many "dated" features found in older homes are easy to upgrade. ...

5 Stocks Hit 52-Week Highs

Wed, 16 May 2012 13:31:20 EDT

NEW YORK (TheStreet) -- The following stocks hit 52-week highs on Wednesday: Lumber Liquidators, Meritage Homes, Churchill Downs, Radware and BioMarin Pharmaceutical.

Lumber Liquidators

"LL's business model provides competitive advantages," Canaccord analysts wrote in a report Tuesday. "Stores are relatively low-cost, and direct vendor relationships result in compelling values. LL's selection is wider, and we believe product quality and service is better than the competition." ...

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Fed Governor: Housing Recovery Needs a Lot of Help

Wed, 16 May 2012 13:03:34 EDT

NEW YORK (MainStreet) -- A Federal Reserve Governor says the U.S. housing market is mending, but would do a lot better if much-needed reforms were enacted, chief among them loosening lending standards by banks and mortgage lenders.

Until that happens, expect a weak housing recovery.

Elizabeth Duke, a Federal Reserve Board Governor, spoke to a group of realtors at the National Association of Realtors Midyear Legislative Meetings & Trade Expo in Washington, D.C. on May 15. ...

Obama's 'Responsible' Reno Homeowners: Are They?

Tue, 15 May 2012 13:56:48 EDT

By Diana Olick, CNBC Real Estate Reporter

NEW YORK (CNBC) -- As part of his "To Do List," President Barack Obama visited Val and Paul Keller on Friday. The White House described them as "responsible" homeowners who owe more on their mortgage than their Nevada home is currently worth.

They owe $168,000 on their mortgage, but their Reno home is currently valued at $100,000. ...

This Super Dividend REIT Can't Be Beat

Tue, 15 May 2012 09:56:01 EDT

TORONTO (TheStreet) -- Real estate investment trusts have been a staple in investors portfolios for many years. Their stability and income make them a natural fit for investors desiring both yield and capital appreciation. Too often, however, investors never look beyond their borders to find the "best of the best" investment.

There are multiple reasons why many prefer to stay within the confines of their own borders: differing accounting standards, tax implications, legal/regulatory differences and, at times, the difficulty in monitoring one's positions.

What if you were told that there is a best in class REIT located just north of the United States? Sound appealing? Then if you were told that just about any retail REIT that wants to do business in Canada typically goes to this REIT to get it done, would that be interesting? These are not rhetorical questions, these questions are a roadmap to RioCan REIT (RIOCF.PK in the U.S. or REI in Canada). ...

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TheStreet Ratings Top 10 Rating Changes

Mon, 14 May 2012 13:59:45 EDT

NEW YORK (TheStreet Ratings) -- Every trading day TheStreet Ratings' stock model reviews the investment ratings on around 4,700 U.S. traded stocks for potential upgrades or downgrades based on the latest available financial results and trading activity.

TheStreet Ratings released rating changes on 108 U.S. common stocks for week ending May 11, 2012. 38 stocks were upgraded and 70 stocks were downgraded by our stock model.

Rating Change #10 ...

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Mortgage Market Still Hampers Housing Recovery

Mon, 14 May 2012 12:57:37 EDT

By Diana Olick, CNBC Real Estate Reporter

NEW YORK (CNBC) -- The Realtors say it, the home builders say it, and now the chairman of the Federal Reserve is saying it: "Some creditworthy borrowers are still having trouble getting a mortgage."

Loose mortgage underwriting is largely blamed for the housing crash, and as a result the credit markets have swung in the opposite direction, some say too far. ...

U.S. Housing Cannot Recover

Mon, 14 May 2012 08:53:19 EDT

NEW YORK (Real Money) -- I am inundated daily with calls from clients and associates who tell me that another analyst or pundit is cheering the housing rebound. They follow up by asking me whether or not I have changed my negative opinion of the sector. I have not. However, I will approach the subject again from another tack that I hope provides some clarity.

The most important issues to consider are: How many foreclosures have there been? How many more will there be? What do the banks plan to do with them?

Properties received by banks through the process of foreclosure are carried and accounted for as Other Real Estate Owned (OREO). The three primary categories of OREO are 1-4 Unit Residential, Commercial, and Construction and Development. ...

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Upgrades Roundup: Scotts Miracle-Gro, Echostar

Mon, 14 May 2012 06:38:39 EDT

NEW YORK (TheStreet) -- The following stocks received upgrades from TheStreet Ratings last week: Scotts Miracle-Gro, EchoStar, Medivation, Carrizo Oil & Gas, PetMed Express, McDermott International, Mid- America Apartment Communities, Cheniere Energy and Calpine.

Scotts Miracle-Gro was upgraded to buy from hold by TheStreet Ratings on Tuesday.

TheStreet Ratings gives Scotts Miracle-Gro a B grade. ...

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Ex-Dividend Stocks: Microsoft, Avon

Mon, 14 May 2012 05:34:22 EDT

NEW YORK (TheStreet) - The following stocks go ex-dividend Tuesday, meaning an investor must purchase the shares Monday to qualify for the next dividend payment: Microsoft, Avon Products, Columbia Sportswear, Gildan and Simon Property Group.

Microsoft

The software maker reported on April 19 third-quarter net income of $5.11 billion, or 60 cents a share, down from year-earlier earnings of $5.23 billion, or 61 cents a share. ...

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5 Best Cities for Being Thin

Fri, 11 May 2012 07:00:00 EDT

BOSTON (MainStreet) -- Everyone's heard of Minnesota's Twin Cities, but people looking to lose weight or stay slim might consider moving to one of America's "Thin Cities" -- five communities with the nation's lowest obesity rates.

"Moving to a city with a low obesity rate absolutely could help you," says Reggie Ramsey of Healthways, whose Gallup-Healthways Well-Being Index surveys thousands of Americans throughout the year on a wide variety of health topics. "You'd be surrounded by people in the same situation, so you'd be far more likely to take weight off or not put it back on."

Ramsey says research has found that a person's social network has a powerful impact on how healthy or unhealthy a lifestyle an individual chooses. ...

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CFPB Takes Aim at High Mortgage Fees

Thu, 10 May 2012 17:20:12 EDT

NEW YORK (MainStreet) -- The Consumer Financial Protection Bureau is out with new regulations that are designed to give home buyers more choice and more transparency when investing in a home mortgage.

The top target for the CFPB is high mortgage fees, and what they're proposing won't go over well with banks and lenders. The new rules, which are expected to take effect in Jan. 2013, mandate that banks and mortgage lenders provide a "no-discount" loan option that enables consumers to more easily compare different loans among various lenders.

One provision allows home buyers to pay a lower interest rate when they pay discount points, which enable buyers to reduce their monthly mortgage payment. ...

Prepare Yourself for a Slow Mortgage Closing

Thu, 10 May 2012 13:15:51 EDT

NEW YORK (MainStreet) -- Want to move into a new home by Labor Day? Sept 3, the deadline for many who want to be relocated by the start of school, seems like a long way off, but really isn't given the glacial pace of mortgage approvals.

Many lenders are taking 90 days to approve loans. For the majority of applicants -- people who are refinancing -- that's just an inconvenience and minor expense, adding a month or two of payments at the old loan's higher rate. But for buyers with a deadline like the start of school or a new job, delay can be serious.

It's a problem for sellers, too. Not only are lenders taking longer to grant loans, they are rejecting more because of today's tight underwriting and appraisal standards. A seller can find a buyer -- tough enough in today's market -- then wait three months only to find the buyer's loan denied. The seller can continue showing the home during that period, but that's a hassle and many buyers feel it's a waste of time to look at a home under contract. ...

Insider Q&A With CEO of a Dividend Powerhouse

Thu, 10 May 2012 07:30:00 EDT

ESCONDIDO, California (TheStreet) -- Recently I had an opportunity to catch up with Tom Lewis, Vice Chairman and CEO, of Realty Income Corp. . The Escondido-based REIT just cranked out another consistent quarter of exceptional earnings results.

Highlights of the last quarter include a 17.9% revenue increase and a 6.9% increase in common stock funds from operations (FFO). Occupancy held steady at 96.6% and the dividends paid per common share increased 0.9% (the current dividend yield is 4.5%).

Consistent dividends remain the power behind the monthly dividend company® as the triple-net REIT announced that is has declared its 503 consecutive common stock monthly dividend. Throughout Realty Income's 43-year operating history, the dividend increased 65 times since listing on the New York Stock Exchange in 1994. The monthly dividend is supported by the cash flow from over 2,600 properties owned under long-term lease agreements with regional and national retail chains and other commercial enterprises. ...

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Bulls Stay Constructive on Toll Brothers

Thu, 10 May 2012 05:05:04 EDT

By David Russell, reporter at OptionMonster

NEW YORK -- Homebuilders have been bulletproof recently, and Wednesday the bulls moved into Toll Brothers.

OptionMonster's tracking systems detected heavy buying in the May 25 calls, which initially priced for $1.40. They later fetched as much as $2.15 as the stock pushed higher throughout the session. ...

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