Short sales in California surpass sales of foreclosed homesIn recent months, short sales have surpassed sales of foreclosed homes in California for the first time since the start of the housing crash in 2007, data show. Comments22 Email Share 713 The owner of this home in the Crystal Cove section of Newport Beach sought a short sale in 2009. … Continue reading Short Sales Pass Foreclosure sales in CA
Month: January 2013
Rental demand to grow by 6.6 million through 2016
The demand for rental housing is expected grow by nearly 6.6 million units through 2016, with about 4.2 million new renters attributing to the total. Many factors will play into the rental housing growth trend including more inventory going into rentals as well as an attractive single-family rental sector for large institutional grade investors – … Continue reading Rental demand to grow by 6.6 million through 2016
Housing recovery will surge short term, but hurdles remain
With existing home sales and property construction picking up over the past three years, all the positive momentum in housing is expected to continue, but headwinds still loom. Consistently low interest rates and falling home prices will continue to spur demand for properties among investors, RealtyTrac vice president Daren Blomquist told HousingWire. "I think that … Continue reading Housing recovery will surge short term, but hurdles remain
Housing recovery to occur in fits and starts
Momentum continues to build in the housing market as a result of positive views on housing demand and supply assumptions, according to JPMorgan Chase's ($46.46 0%) securitized report. The big banking company projects 3.4% growth nationally in 2013, and 3% growth in 2014 and 2015, respectively. Home sales are also expected to climb to 5.1 … Continue reading Housing recovery to occur in fits and starts
HSBC to pay $249 million to end foreclosure probes
International bank HSBC ($55.30 -0.06%) signed onto an agreement that effectively ends the companies' review of questionable foreclosure practices. Rather than using an independent review process already in place, the bank will address the issue through a one-time settlement with impacted homeowners. The mega bank is joining 12 other servicers that already ended independent foreclosure … Continue reading HSBC to pay $249 million to end foreclosure probes
Cook County approves land bank to curb blight
The Cook County Board of Commissioners unanimously passed an ordinance to create the nation’s largest geographical land bank that will acquire, manage and repurpose vacant and abandoned properties within the Chicago area. In December, HousingWire reported on the progress of the land bank that is expected to help solve the county's housing woes. The land … Continue reading Cook County approves land bank to curb blight
RealtyTrac: Many states witness housing reboot as foreclosure activity rises
Foreclosure activity increased in 25 states while median home prices also rose in 25 states, lifting 1.6 million homeowners out of negative equity, according to RealtyTrac’s Year-End 2012 Foreclosure Market Report. A total of 25 states posted year-over-year increases in foreclosure starts — 20 of which use the longer judicial foreclosure process. New Jersey led … Continue reading RealtyTrac: Many states witness housing reboot as foreclosure activity rises
City of Chicago Water Department Run by Private Company
As of January 7, 2013, the City of Chicago Water Department was taken over by a private company. The private company is in the process of working through the tremendous backlog of water certificate requests made before the take over occurred. It has been recommended that pending water certificate requests that are in the backlog, … Continue reading City of Chicago Water Department Run by Private Company
2More Banks to pay in wrongful foreclosures
2 more banks to pay $557M in wrongful foreclosuresOriginally published: January 16, 2013 10:41 AM Updated: January 16, 2013 1:45 PM By THE ASSOCIATED PRESSPhoto credit: AP, 2011 | An Occupy Wall Street activist places tape on a boarded up house during a tour to draw attention to the plight of those in foreclosure in … Continue reading 2More Banks to pay in wrongful foreclosures
Obama Scorecard: Foreclosure programs aid 1.4 million homeowners
The Making Home Affordable Program has assisted more than 1.4 million distressed borrowers since its inception, the Obama Administration said in its December Housing Scorecard report. HOPE Now lenders alone offered families and individuals more than 3 million proprietary mortgage modifications. Between April 2009 and November 2012, more than six million mortgage modifications and other … Continue reading Obama Scorecard: Foreclosure programs aid 1.4 million homeowners
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