Bank and Freddie Mac Foreclosures Continue to Pull Home Prices Down

April 12th, 2011

A recent report demonstrates that housing prices are still getting hammered by bank foreclosures and Freddie Mac foreclosures. Based on data released by CoreLogic, residential property prices in the U.S. have declined again in February 2011 compared with one year ago. In Oregon, prices of homes plummeted by nearly 10% in February compared with year-ago levels.

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Foreclosure Short Sales Affecting Home Prices

April 11th, 2011

A new report shows that home prices are down 6.7 percent this year including those of properties that were sold through foreclosure short sales.

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Construction Improving Despite Foreclosures in Sheriff Auctions

April 8th, 2011

Although foreclosed properties offered at sheriff auctions and distressed home numbers have remained high in several areas of Wisconsin, there are certain areas in the region that have already started to recover from the housing market crisis. Construction activities in some markets have picked up last year compared with 2009, the year when the worst of the crisis hit the state.

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Bank Of America Sued For Mortgages Fraud

April 7th, 2011

A private citizen in Marion County has filed a lawsuit against Bank of America and its loan mortgages servicing unit, claiming that both engaged in fraudulent practices when it foreclosed on her home.

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North Jersey Foreclosures Need Urgent House Repair

April 6th, 2011

A US census data reveals that the rate of New Jersey vacancies both in middle and lower class neighborhoods is higher this year than its percentage in 2000. Many of the houses remain inhabited and even require some house repair.

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Foreclosure Crisis Causing HOA Fees Woes

April 5th, 2011

According to a real estate research company, South Carolina is way up the list of states having the most number of foreclosures and is currently ranked 21st nationwide. The foreclosure crisis may be taking its toll on the state as statistics reveal that one in every 717 houses in South Carolina is in danger of being foreclosed.

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Congress Urged to Continue Federal Foreclosure Assistance Program

April 4th, 2011

Republicans in the U.S. Congress are lobbying for the termination of the foreclosure assistance program of the federal government which reduces the loan payments of troubled homeowners to save them from foreclosure. However, although the program has received a lot of criticisms from different groups, a number of analysts have stated that the program should be saved.

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HUD Homes and Foreclosures Still High, But Analysts Recommend Buying

April 1st, 2011

The rise in the number of foreclosed properties and HUD homes has precipitated a decline in homeownership interest in the U.S. According to housing industry experts, the foreclosure crisis turned a lot of people off from home-buying. However, a lot of them are saying that now would be the best time to become a homeowner.

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Foreclosure Statistics Reflected in Vacancy Rate of Minneapolis

March 31st, 2011

The amount of vacant properties in Minneapolis, Minnesota reflects foreclosure statistics in the city, real estate developers have revealed. According to them, a big percentage of the empty dwellings in the area have a lot to do with the housing market crisis. Census reports showed that nearly 15,000 residential units are currently vacant in Minneapolis.

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Handyman Specials Are Not What Residents Are Looking For

March 30th, 2011

Utah has enough supply of single family houses and Handyman Specials to cover the needs of state residents, but real estate experts stated that the region is still facing potential housing shortage. They claimed that majority of residents in the area are not looking for houses to buy, but are actually looking for houses to rent.

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Foreclosure Assistance Came to Texas Homeowners

March 29th, 2011

Fannie Mae representatives held a meeting with homeowners in Texas to discuss foreclosure assistance. According to home counselors in the area, foreclosures in the region continue to increase and are already 3% higher this year compared with the same period of 2010. The meet-up with Fannie Mae representatives is reportedly aimed at helping borrowers who are already behind in their mortgage payments.

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House Construction Down in Tulsa Despite a Lot of Cheap Land for Sale

March 28th, 2011

Under normal market conditions, the availability of cheap land for sale will result in more subdivisions and more new homes getting constructed. However, analysts stated that the foreclosure crisis has prevented home builders in Tulsa, Oklahoma, from taking advantage of low-priced real estate as home construction activities took a slide during the first two months of the current year.

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Sales of VA Foreclosures and Existing Homes Down in Missouri Metro Area

March 25th, 2011

Sales of existing dwellings, including bank and VA foreclosures, dropped in February 2011 nationwide when compared with figures from February 2010. In Missouri, some areas mirrored the nationwide trend, with sales dropping in most metros, although prices did improve in some markets over the same period.

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US And Seattle Existing and Pre Foreclosure Home Sales Drop

March 25th, 2011

National sales activity involving existing houses, including pre foreclosure homes, for the month of February dropped by 9.6 percent compared to January. It also declined by 2.8 percent from the same month a year ago. The said figures were reported by the National Association of Realtors. This is the first time in three months that sales activity dropped.

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Tax Credit Failed to Arrest Residential Vacancy Increases in Orlando

March 23rd, 2011

The U.S. federal government's tax credit was meant to encourage home purchasing and stimulate the housing market. However, it did not do much for Orlando, Florida, as the number of single family dwellings that had remained vacant in the metro region is the highest in the whole U.S. in the 2010 fourth quarter.

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San Diego Might Not Be Ideal for Flipping Houses in 2011

March 22nd, 2011

People involved in flipping houses will likely stay away from San Diego County, California, this year. A number of housing market analysts have stated that the county is likely to be one of the few U.S. regions where prices will grow in 2011, albeit in a gradual and moderate manner. Although housing prices are expected to decline further in the current year, San Diego is considered one of the safer places.

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Michigan Bank Owned Foreclosures Decline In February

March 21st, 2011

For the month of February, bank owned foreclosures rate for the entire state of Michigan and even in metro Detroit declined by about one third from last year’s rate. The state is still fourth among states in terms of the most number of default notices.

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Bank and Federal Tax Liens Foreclosures Decline in Tennessee

March 17th, 2011

Bank foreclosures and federal tax liens foreclosure numbers declined in Tennessee in February of this year. Foreclosure filings were down for the month compared with one year ago and with the previous month. The dip in Tennessee's foreclosure activities was the same at the national level, with total foreclosure filings in the U.S. dropping in February compared with year-ago levels.

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Home and Condo Foreclosures Decline in Ohio in February

March 17th, 2011

The number of home and condo foreclosures declined in Ohio in February 2011 compared with the same 2010 period. The state trend was mirrored at the national level, where foreclosure numbers also dipped. The Ohio total was nearly one quarter lower than the total number of foreclosures posted in February of last year.

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Commercial Foreclosures Looking Good As Metro Populations Climb

March 16th, 2011

Residential and commercial foreclosures markets in Nebraska metro areas are expected to benefit from the latest census report, which showed that the state's metro regions gained more people in the last decade. However, the 2010 report also showed that populations in rural areas continued to drop well into the latter half of the 2000s.

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