RealtyTrac released its U.S. Foreclosure Market Report for April 2012 and the overall results were positive. Foreclosure filings in April were the lowest monthly total since July 2007. The 188,780 properties represented a 5%decrease from March and a 14% decrease from April 2011. While the overall results are positive, Brandon Moore, CEO of RealtyTrac, noted …
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The recent decision to extend mortgage assistance to investors is certainly causing controversy. Supporters of the decision see the need to avoid foreclosed, vacant properties regardless of their ownership since those empty homes drive down property values in the neighborhood. The recent Bloomberg article sites a 2009 report by the Center for Responsible Lending, which said …
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In a recent post from dsnews.com, Ester Cho writes about a bill that has been introduced in the Senate to speed up the short sale process. By speeding up the short sale process, the Prompt Notification of Short Sale Act looks to avoid losing homes to foreclosure as a result of the long lender response times …
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In a recent article from DSNews.com by Krista Franks she quotes economists from Capital Economics and the National Association of Realtors stating that the real estate market has started its recovery. They point towards “record low mortgage interest rates, job growth and bargain home prices” as drivers towards improving consumer confidence. While 2011 did show …
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A recent Forbes.com article highlighted 13 cities that were exceptionally hard hit in 2011 as they saw dramatic home price drops throughout the year. The list contains those markets that were severely impacted early on in the subprime mortgage crisis like Las Vegas and Phoenix, but also includes other cities like Boise where rising unemployment has …
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On December 14th, Freddie Mac released its Economic Outlook for 2012 . The report predicts positive movement with the economy, unemployment and housing activity; but all will be very small improvements. Predicted low rates through mid-2012 will help the housing market; but the continued glut of distressed properties and uncertainty of buyers will continue to …
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According to RealtyTrac stats, close to 40% of foreclosed properties are/were occupied by renters. Karen Aho’s recent article for MSN Real Estate provides some excellent insight for renters should they be faced with an eviction from a foreclosed property. As the article mentions, the renter is typically the last to know when a home is …
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New sales data was released and, while new home sales increased slightly in October, 2011 looks to be the worst year for new home sales since the statistic was tracked starting in 1963. While the overall picture is bleak, there were definitely some signs of hope. New home sales in October were 1.3% higher than September …
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In a recent article in The Atlantic, Daniel Indiviglio makes a strong argument that the historically low interest rates being offered today are not helping the housing market rebound. While low rates would definitely drive consumers to seek loans, the lenders are less inclined to offer these mortgages with the inherent risks associated with them. The …
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Unfortunately the title of this blog post isn’t referring to an ice cream cone. In a recent CNN Money article (see link below), Les Christie walks through the numbers which point towards the US housing market suffering its third (and lowest) trough since the market peaked in early 2006. The first bottom was reached in 2009, …
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