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Housing Crisis

Are You Ready for the HELOC Crisis?

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  At least 2.5 million home equity lines of credit (HELOCs) will reset over the next three years, increasing borrowers’ monthly payments by an average of $250 per month and resulting in a surge of defaults, according to Black Knight Services’ September Mortgage Monitor report. According to Kostya Gradushy, Black Knight’s manager of Research and Analytics, this average is based ... Read More »

Clear Capital: Welcome Back to 2004

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  National home prices have been nominally unchanged for a lost decade and we’re back to 2004 levels without even accounting for inflation, leaving many homeowners with no more equity than when they bought.  That’s the grim assessment by Clear Capitol in its September market report. If national home price growth continues to diminish, the lost decade will drag out. August home price ... Read More »

Hello Moderation, Bye Distress Sales

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As a percent of all sales, distressed sales fell to 18 percent in July from their peak of 40.8 percent in March of 2011. The major shift in home sale type, from distressed to fair market, will continue to impact future growth potential for markets overall, reports Clear Capital’s July Market Report. Does that mean home price gains will continue ... Read More »

One State Leads the Foreclosure Marathon

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As the Foreclosure Era enters its final months, completed foreclosures are increasingly concentrating in a handful of states and one state reports three times as many as the next runner-up.  Regions of the nation have virtually returned to normal as their foreclosure inventories dry up and are not refilled. Five states account for almost half of all completed foreclosures in ... Read More »

Spring Price Increases Barely Budge Underwater Homes

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Price increases slowed so much in the second quarter that the numbers of seriously underwater homes and the percentage of equity rich properties barely increased over the first quarter of 2014. The second quarter of 2014 saw only a small percentage decline in the percentage homes that were seriously underwater, 17.2 percent versus 17.4 percent in the first quarter of ... Read More »

The Good Old Days are Back! Foreclosures Fall to Pre-Bubble Levels

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New foreclosure activity data from June, when a total of 107,194 U.S. properties had a foreclosure filing, fell 2 percent from the previous month and was down 16 percent from a year ago to lowest level since July 2006, before the housing price bubble burst Total foreclosure activity in June was the lowest since the housing bubble burst in August ... Read More »

Zillow: Don’t Buy a Home in Hartford!

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The folks in Conecticut will be unpleasantly surprised to learn they beat out Vegas and Miami as the riskiest market to buy a home. Zillow set out to look at the markets where housing prices have declined the most over the past 35 years  and chained the Zillow Home Value Index (ZHVI) backward in time to 1979 Q4 using the ... Read More »

Texas and West Lead the Parade to Positive Equity

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In the first quarter, Texas had the highest percentage of mortgaged residential properties in an equity position at 96.7 percent, followed by Montana (96.3 percent), Alaska (95.7 percent), North Dakota (95.7 percent) and Hawaii (95.6 percent) according to the latest report from CoreLogic. CoreLogic said more than 300,000 homes returned to positive equity in the first quarter of 2014, bringing ... Read More »

Homeowners Get Whole Faster When the Water is Deeper

Couples performing underwater at Weeki Wachee Springs near Brooksville

One of the best measures of the housing recovery is the steady progress than is being made in markets across the country to return home values to their peak values seven or eight years ago.  While sales sag despite retreating interest rates and inventories provide just enough listings to prevent last year’s price eruption, homeowners are leaving negative equity and ... Read More »

REOs: They’re B-a-a-a-a-ck

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  REOs (bank-owned foreclosures) have returned in force just in time for the spring season and to benefit from prices that have been rising for a year or more.  Banks are listing foreclosures, some of which have been in the works since the end of the robo-signing scandal. As delinquency rates remain low, the new REOs are likely to be ... Read More »