While completed foreclosures on residential homes totaled 40,000 for April and have been steadily falling monthly for the last four years, they are still nearly double their pre-recession average per month, according to CoreLogic's April 2015 National Foreclosure Report released Tuesday. Completed foreclosures, which are a measure of homes actually lost to foreclosure, declined by … Continue reading Completed Foreclosures Decline But Remain At Double Pre-Recession Levels
Tag: real estate news
January existing home sales come in flat compared to December
2015 sales expected to pick up where 2014 left off By: Trey Garrison, Housingwire.com Auction.com projects that existing home sales for January will fall between seasonally adjusted annual rates 4.9-5.21 million annual sales, with a targeted number of 5.06 million. This suggests that January sales will be up from one year ago and essentially flat … Continue reading January existing home sales come in flat compared to December
Foreclosures Falling, But Delinquency Rate Climbing
The nation's foreclosure inventory fell to its lowest level in almost seven years in November, but the percentage of delinquent mortgage loans is on the rise, according to Black Knight Financial Services' November 2014 "First Look" at Mortgage Data. Delinquent mortgages, which are those more than 30 days overdue but not in foreclosure, jumped by … Continue reading Foreclosures Falling, But Delinquency Rate Climbing
Freddie Mac’s Mortgage Portfolio Expands For Third Straight Month
November marked another month of expansion for Freddie Mac's mortgage portfolio, which grew again as new business ticked up. According to Freddie Mac's monthly volume summary, released Monday, the company's total portfolio ended November at an estimated $1.9 trillion, up an annualized 0.4 percent. Year-to-date, the portfolio's growth rate is an average -0.7 percent, the … Continue reading Freddie Mac’s Mortgage Portfolio Expands For Third Straight Month
Bank Foreclosures Listed Far Below Regional Selling Prices
RealtyStore, a provider of a broad variety of real estate listings, recently released a report outlining average selling prices for bank foreclosures. The company found the median price of bank foreclosures for sale in six select states list at an average of nearly 50 percent below recent median existing-home sale prices. The states—Maryland, Massachusetts, Mississippi, … Continue reading Bank Foreclosures Listed Far Below Regional Selling Prices
What Sellers should know about the Mortgage Foregiveness Debt Relief Act not being extended
The Mortgage Forgiveness Debt Relief Act applies to homeowners who are NOT insolvent on the date of the sale. The internal revenue code has an existing exclusion of forgiven debt from income when the borrower is insolvent on the date of the sale (IRS Publication 4681). this has been an existing part of the tax … Continue reading What Sellers should know about the Mortgage Foregiveness Debt Relief Act not being extended
Foreclosure and Shadow Inventory Both Decline in February
CoreLogic released its National Foreclosure Report for February, 2014, reporting 43,000 completed foreclosures for the month, a 13.1 percent decrease from January, 2014. Yearly, foreclosures declined 15 percent from February, 2013. Comparatively, foreclosures averaged 21,000 per month before the housing crisis from 2000 to 2006. Since September, 2008, 4.9 million foreclosures have been completed. As … Continue reading Foreclosure and Shadow Inventory Both Decline in February
Increased Inventory Slows Home Value Growth Author: Colin Robins February 19, 2014
In a report released by Zillow, national home values rose just .2 percent in January from December. Inventory rose in 22 of the nation’s 35 largest metros, and helped slow down the rising value of homes.Year-over-year, home values rose 6.3 percent in January, down from previous gains of 7.1 percent in August, 2013. Home values are … Continue reading Increased Inventory Slows Home Value Growth Author: Colin Robins February 19, 2014
Debt Rises, but Who’s Borrowing? Author: Colin Robins February 18, 2014
In a report released Tuesday, the Federal Reserve Bank of New York noted that aggregate consumer debt rose from last quarter, citing an increase of $241 billion dollars in the fourth quarter of 2013. The figure represents the largest quarter-to-quarter increase since 2007.Data came from the recently released "Household Debt and Credit Report."Total household debt … Continue reading Debt Rises, but Who’s Borrowing? Author: Colin Robins February 18, 2014
Increased Home Listings Signal Positive 2014 Author: Colin Robins February 20, 2014
Realtor.com released Thursday its National Housing Trend Report for January. Despite severe weather conditions, the report notes positive trends in the number of listings and median list prices of homes. The number of listings rose to 3.1 percent from January, 2013, and the median list price of homes is up 8.3 percent year-over-year to $195,000. "In January 2013, … Continue reading Increased Home Listings Signal Positive 2014 Author: Colin Robins February 20, 2014
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