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Housing Crisis

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

COWBOY

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 »

Repos Increase as Banks Clean House

Billings Montana

Despite a decrease in overall foreclosure activity, bank repossessions in April increased 4 percent from the previous month, although they were still down 14 percent from a year ago. There were a total of 30,056 bank repossessions nationwide in April. Bank repossessions increased from the previous month in 26 states and were up from a year ago in 16 states, ... Read More »

Foreclosures Fall in March

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  By Octavio Nuiry                                                                                                 Home prices continue to rise in many major ... Read More »

Is L.A. the Next Detroit?

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Is L.A. the Next Detroit? By Octavio Nuiry   According to the latest UCLA Anderson School of Management study, Los Angeles, Detroit and Cleveland share the dubious distinction of cities with the weakest job growth since 1990. The researchers at UCLA say Los Angeles has lost 3.1 percent of its employment base since 1990, more than Detroit (-2.8 percent) and ... Read More »

More than Half of Foreclosures Still Occupied

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Even though it takes an average of 19 months to complete a foreclosure today, at least half of the bank-owned REOs in a recent RealtyTrac survey were still occupied by the former homeowner or a tenant.  Many of the owners who stayed in their homes did so rent-free for as much as two years or more since they made their ... Read More »

Shadow Inventory Down 23 Percent, Foreclosure Inventory Shrinks 35 Percent

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The numbers of foreclosures and potential foreclosures have fallen dramatically over the past 12 months as the foreclosure picture rapidly returns to pre-2006 levels.  The decline in foreclosures in the pipeline has important ramifications for real estate investors and local markets that are returning to health as they recover from the foreclosure flood that produced 4.9 million foreclosures since 2008. ... Read More »