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Foreclosure Situation

Foreclosure Starts Fall but Repos Rise


Foreclosure activity rose in July, up 7 percent from the previous month and up 14 percent from a year ago. July was the fifth consecutive month with a year-over-year increase in overall foreclosure activity following 53 consecutive months of decreases. “The increase in overall foreclosure activity over the last five months has been driven primarily by rapidly rising bank repossessions, ... Read More »

The Dry Rot in America’s Housing Stock: A Sad Legacy of the Foreclosure Era


  What would an influx of 3.8 million entry-level homes do for housing affordability? Limited inventory and strong demand continue to push home prices higher in America’s hottest housing markets, leading to declining affordability.  Forecasters are raising their predictions as tight inventories of homes, particularly lower priced properties, keep first-time buyers on the sidelines. Those 3.8 million homes, nearly twice ... Read More »

HomeVestors Proves Investing is Alive and Well


For the business of residential real estate investing, these are not the best of times.  Bargains on attractive properties to flip or to hold and convert to rentals are tough to find.  Foreclosures and short sales have fallen to ten percent of home sales, the lowest level in four years, according to RealtyTrac.  Moreover, NAR reports the foreclosure discount has shrunk ... Read More »

Some 5.7 Million Crash Victims Still Feel the Pain


Though about five million families lost their homes to foreclosure from 2009 to 20013, some seven million consumers’credit was negatively impacted by the housing crash.  Today, only 1.2 million, or 18 percent, have completely recovered.  But over the next five years some 2.2 million of the remaining 5.7 million unrecovered consumers could meet agency underwriting guidelines, according to a report from ... Read More »

Negative Equity Freezes Lowest Tier Owners


One reason inventories for first-time buyers are chronically depleted is that lower priced homes continue to bear a more of the brunt of negative equity that those priced higher. A new report from Black Knight found that in March the number of underwater borrowers decreased by 1.6 million from this time last year and that the negative equity population has ... Read More »

Homeownership Falls Farthest among Middle Aged Adults


Homeownership has fallen farther and faster among adults in the middle age bracket than among younger Millennials whose attitudes towards homeownership have been the focus of attention among housing professionals, according to the newest Census data.  Though only about 34.6 percent of adults under 35 own a home, the percentage of those in the 35-44 year old bracket who own ... Read More »

Spring is Here and Banks Clean House(s)


  Foreclosures soared in March, jumping 20 percent from a 104-month low in February increasing for the first time on a year-over-year basis in four and a half years, since September 2010. Foreclosure filings hit a total of 122,060 U.S. properties with foreclosure filings in March, according to RealtyTrac’s quarterly foreclosure report. The increase was driven primarily by a jump ... Read More »

HELOC Resets? No Worries!


Perhaps you’ve seen the headlines crafted to conjure up fearful memories of Alt-A and Option ARM loan defaults during the depths of the housing depression. Tidal wave of HELOC resets about to hit! HELOC Resets Will Undermine Any Housing Recovery. Boom-Era HELOC Resets Raise Concerns. Not to worry.  Home Equity Line of Credit (HELOC) resets are not going to cripple the housing ... Read More »

Distressed Discounts Dwindle, Sales Skew up and Median Price Rises


The U.S. median home price in February increased 14 percent from a year ago but was flat from the previous month to $183,000.The median sales price of distressed homes — those in the foreclosure process or bank-owned — increased 13 percent from a year ago to $127,000, 33 percent below the median sales price of non-distressed properties, $190,000 according to ... Read More »

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