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"This month's report is marked by the confirmation of a double-dip in home prices across much of the nation," David Blitzer, of the committee at S&P Indices, said in a statement. "Home prices continue on their downward spiral with no relief in sight.
House prices depend on local supply and demand - and also on the number of distressed homes on the market (forced sellers). But the excess vacant inventory is important for forecasting when new construction will increase - assuming...
Disenchantment with real estate is bound to swell further on Tuesday when the most widely watched housing index is all but guaranteed to show that prices of existing homes sank in March below the lows reached two years ago — until now the bottom of t
Sales of homes in some stage of foreclosure declined across South Florida during the first quarter, a result of the recent "robo signer" controversy and perhaps a changing sentiment among buyers, observers say.
"I see a lot of people not having the typical 8-to-5 job, or couples where one person is employed and one isn't. There's other priorities before marriage," Leung said.
In this Business News Network interview, Yves Smith discusses Foreclosure-Gate, the death of the housing ATM, and the length of the housing market recovery.
Headline: Down 11.6% month-over-month, down 26.8% year-over-year Expectations: 1.0% month-over-month decline
U.S. banks and state attorneys general, seeking to avoid $17 billion in court claims over faulty foreclosures, are discussing a settlement framework that may let firms choose from a menu of options for helping borrowers, two people briefed...
"I'm speechless. The scope of the problem is unimaginable, the depth of the fraud is shocking." And therein lies the rub: when all is said and done, banks will ultimately be saddled with another massive round of losses, which will then necessitate...
The Phoenix metro area, which includes Maricopa and Pinal counties, ranked No. 5 with an 11.6 percent drop in the home price index in the last year. That includes a drop of nearly 4.9 percent in the last quarter alone.
Sales of distressed U.S. homes fell in the first quarter as demand remained weak, but they still made up about 28 percent of total sales, the highest amount in a year, a RealtyTrac report said Thursday.
The second part, which is where one takes the red pill, deals with something far more serious: short sale fraud - yet another facet of the ongoing discovery of just how deep mortgage fraud in this country (in this case by real estate "investors") run
One Steven Soraya, who had a loan amounting to $980,500.00 with Wells Fargo, which was released on July 3, 2007 and which just so happens was signed by Robosigner extraordinaire, the one, the only, the infamous Linda Green.
The slow return of millions of REO homes to the market will keep home prices from recovering. RealtyTrac's James J. Saccio warns: "At the first quarter foreclosure sales pace, it would take exactly three years to clear the current inventory...
These "record keeping" lapses are not an occasional error or problem; they're systemic and intentional. Now, having been caught, the excuses have become manifest and outrageous.The borrower does not deserve to be raped simply because...
Sales of new one-family houses in April 2011 were at a seasonally adjusted annual rate of 323,000 ... This is 7.3 percent (±16.6%)* above the revised March rate of 301,000, but is 23.1 percent (±9.7%) below the April 2010 estimate of 420,000.
The nation’s biggest banks and mortgage lenders have steadily amassed real estate empires, acquiring a glut of foreclosed homes that threatens to deepen the housing slump and create a further drag on the economic recovery.
The increased competition for foreclosure homes is pushing up prices, which may bode well for the housing market at large. Foreclosure homes at rock-bottom prices have kept the region's median home price suppressed for several years.
Foreign buyers could be buoying the sagging United States real estate market, according to the National Association of Realtors’ 2011 Profile of International Home Buying Activity.
Investors want to rehab these places and flip them as soon as possible, but today they are being forced to put them up for rent as first-time buyer demand is still weak.
There are plenty of problems in California, but nothing like Florida. Florida has 57% the number of mortgages as California, but more delinquent loans. In most ways, dividing this by states is arbitrary - except the foreclosure process matters.
As MERS legal status has come under questions, a few local registers of deeds (the officers in charge of local recording offices) have made estimates of the losses to their county and have come up with significant numbers.
5. According to Zillow, more than 55% of all single-family homes with a mortgage in Atlanta have negative equity and more than 68% of all single-family homes with a mortgage in Phoenix have negative equity.
From my reading of Florida Law this woman and any other like her are within her rights to shoot the invaders and have no duty to confirm their identity or purpose as there is a presumption that the person so invading has the felonious intention...
"Phoenix is on its way," Burns said at the real-estate think tank's national spring conference held in downtown Phoenix. "The area has job growth and is firmly in Stage 2."
The market is saturated with investors. In fact, you have investors selling to investors trying to squeeze out profits since household incomes in the region are low and facing the pressures of a declining middle class.
“Batter up,” he said as he finished one stack and eyed the next. With scores of cases remaining on the day’s “rocket docket” earlier this week and tens of thousands more awaiting judgment in this courthouse, there was little time to pause.
I believe the FED has a decision to make now about housing. Either they start to buy MBS again, attempting to force mortgage rates down to new all time low levels–or–they simply let housing “go.”
And the most interesting number was the number of houses under construction, which hit a fresh all time low on an annual, seasonally adjusted basis, or 418k.
Foreclosure-Gate poses a threat to Wall Street, the big banks, and the political establishment. If the public ever gets a complete picture of the personal, financial, and legal assault on citizens at their most vulnerable, the outrage will be endless
