Posts Tagged: foreclosures

10 Easy Tips to Get Your House Ready to Sell

Most people know the basics about getting their home ready to sell: remove any clutter and excess furniture, fix what’s broken and set your rooms to look like a model home would. But buyers have more and more inventory to choose from in this market and the details matter. Here are 10 enhanced Staging Tips 1…. Read more »

Today’s Real Estate Report: Florida

Today we’ll take a look at the Florida real estate market. Things are improving there slowly – in Southern Florida, underwater mortgages have dropped from 47% of all homes last year to 39.6% now, the Sun Sentinel reports: In the fourth quarter, 39.6 percent of mortgaged homes across Palm Beach, Broward and Miami-Dade counties were… Read more »

Foreclosures Up in Texas in Third Quarter

There’s a rising trend in Texas toward buying foreclosed homes. According to a recent analysis by Irvine, Calif.-based RealtyTrac, between July and September of this year, a total of 9,781 foreclosed homes were sold in Texas — marking a 24.17 percent increase in the number of foreclosed homes purchased in Texas over the same three… Read more »

Oregon: Foreclosure Sales Down, Pre-Foreclosures Up in Third Quarter Over 2011

Sales of U.S. homes facing foreclosure are on the rise and outpacing sales of bank-owned homes, a reflection of stepped up efforts this year by lenders to avoid foreclosing on homes with mortgages gone unpaid. In the third quarter, sales of homes already in the foreclosure process jumped 22 percent compared to the previous quarter… Read more »

St. Louis Foreclosure Rates Dropping

There is good news on the local housing market. The latest numbers show foreclosures are falling in St. Louis. Real estate tracker Core Logic released its latest report on Tuesday. It found the September foreclosure rate in the city was just under 1.5 percent. That’s down more than a quarter of a percent from last… Read more »

San Francisco: 36% Drop in Foreclosures Year Over Year

The San Francisco housing market continues to recover, and in more ways than one. New research shows that foreclosure activity has dropped significantly across the Bay Area. This will support home prices and increase market stability going forward. The Federal Reserve recently published a positive outlook for the San Francisco metropolitan-area housing market. Among other… Read more »

Boston Home Prices Up, Foreclosures Down in August

The latest measures of the state housing market’s recovery pointed in the right direction Tuesday, with foreclosures declining and home prices rising. Single-family home values in the Boston area were up 0.7 percent in August, compared with July, marking the fifth consecutive month of increases, according to the S&P/Case-Shiller Home Price Indices. It monitors repeat… Read more »

USA: Foreclosures Drop to Lowest Rate in Five Years

Foreclosure filings on U.S. homes in September fell to their lowest level in five years, but some states are still seeing their foreclosures rise, a report from RealtyTrac said on Thursday. The overall decrease put the combined number of reported default notices, scheduled auctions, and bank repossessions at 180,427 – the lowest total since July… Read more »

Providence, Rhode Island Foreclosures Dropped in Second Quarter

Sales of previously foreclosed homes in the Providence-Fall River-New Bedford area dropped 22 percent in the second quarter compared with the same period last year, RealtyTrac said Thursday. Foreclosed homes made up 5.72 percent of all Providence area sales in the second quarter, down from 7.68 percent in the second quarter of 2011, the Irvine,… Read more »

Forclosures Surged in First Quarter in North Carolina

More U.S. homes are entering the foreclosure process, setting the stage for a surge in properties repossessed by lenders this year. That trend includes North Carolina where nearly 3,700 properties are now at some stage in the foreclosure process, a jump from 2,992 in February and 2,541 in January. The North Carolina number includes 822… Read more »

OK: Tulsa Foreclosure Rates Down

A real estate report shows foreclosure rates are down in Tulsa. CoreLogic studied home sales, price trends and foreclosure activity for 2010 and 2011 and found Oklahoma to be below the national average. Across Oklahoma, the foreclosure rate for December 2011 was 2.48%, compared to 2.49% from 2010. In Tulsa, the rate was 2.77% in… Read more »

Are Foreclosures Up or Down in Oregon?

It’s a tough time to profess expertise when it comes to home values. Everyday seems to deliver a fresh batch of statistics, often conflicting with the prior day’s news. Home prices — or the index tracking them — rises one day. The next, a new set of press releases proclaims they’re still down. Today is… Read more »

AZ: Phoenix Home Prices Rise, Foreclosures Drop

A new report from the W.P. Carey School of Business at Arizona State University finds that home prices are rising and foreclosures are declining in the Phoenix-area housing market. Mike Orr, director of the Center for Real Estate Theory and Practice, said in a news release that the median price for all sales, including new-home… Read more »

Is Ohio’s Foreclosure Crisis Coming to an End?

The foreclosure crisis in Ohio could come to an end after one more bump in foreclosure-related action by lenders, area real estate and banking experts said Wednesday. Despite a flat change in January in foreclosure filings in Butler County, actual foreclosures are expected to fall once the market overcomes an expected bump in foreclosure-related filings… Read more »

Foreclosure for Dinner

A few months ago, I happen to be enjoying a nice meal the other day with my partner, when I happen to hear some words coming from a table near by.  As a New Mexico mortage banker, certain words, or phrases always catch my attention; especially if what is being said causes an eye twitch,… Read more »

Foreclosures Increasing in Pipeline in Many States

The number of homes in the foreclosure pipeline is increasing in states including New York, New Jersey and Connecticut, where the process is slowed by courts, as Arizona, California and Nevada digest their backlog. Home loans that were delinquent or in foreclosure fell in three states hit hard by the housing market collapse, dropping 19%… Read more »

OK: Tulsa Foreclosures Dropped in November

October’s sharp rise in metro area foreclosures didn’t continue in November, although the local rate of home defaults remains higher than the nation’s as a whole. RealtyTrac Inc. reports that 751 homes began the foreclosure process in metro Tulsa last month. The resulting rate of one foreclosure for every 541 households represents a decline of… Read more »

US: New Surge of Home Foreclosures Coming?

Despite a seasonal slowdown in overall foreclosure activity, and a process still bogged down and backed up by the “robo-signing” processing scandal, the U.S real estate market is about to be hit by another surge of bank repossessions, according to a new report from the online foreclosure sale site RealtyTrac. As banks resubmit millions of… Read more »

AZ: Phoenix Foreclosure Rates Improve

A new report by Arizona State University says foreclosures accounted for 26% of existing-home sales in metropolitan Phoenix last month, marking the lowest such level since April 2009. But the authors of the report by the university’s W.P. Carey School of Business say the improvement in the foreclosure figures doesn’t mean metro Phoenix’s housing market… Read more »

Albuquerque, Boston, Sarasota, And Cincinnati See Huge Foreclosure Jumps in Third Quarter

Foreclosures which had been delayed by the robo-signing scandal and bankrutpcy overflow in some courts have hit some housing markets with a vengeance. It is yet another examples that the crisis is primarily in a few large markets. It is the problems in these market that will have to be resolved to lift their regional… Read more »

Vermont, New Mexico Had Greatest Increase in Foreclosures in Third Quarter

New Mexico was among the leaders of a nationwide trend of increased foreclosure activity in the third quarter, posting a 50 percent jump from the previous quarter, RealtyTrac reported Thursday. The jump was driven by the front end of the process, with 1,659 homeowners receiving notice that foreclosure proceedings had been opened against them in… Read more »

Foreclosures Continue to Weigh Down US Real Estate Market

Foreclosures continued to plague the U.S. housing market last quarter, while a a growing backlog has caused the length of the foreclosure process to drag on and on. Nationwide, foreclosure filings totaled 610,337 in the third quarter, an increase of less than 1 percent from the previous quarter, said RealtyTrac, an online marketplace for foreclosed… Read more »

NH: Foreclosures Increased in August

Home foreclosures rose in August. The latest numbers highlight the long term pressures on the housing market. The New Hampshire Housing Finance Authority says about 320 homeowners lost their houses in August. That was less than in August a year ago but more than the number of foreclosures the month before. The relatively constant flow… Read more »

California, Florida, Michigan, Illinois and Georgia Had 53% of August Foreclosures

According to the data released by RealtyTrac, the leading online marketplace of foreclosure properties, foreclosure filings in August rose 7% from the prior month with 228,098 properties issued notices of default, auction or repossession during the month. However, this is still down 33% from August 2010 figures. As per the source, a total of 5… Read more »

OR: One Third of Home Sales Now Foreclosures

Foreclosures continue to flood Oregon’s housing market and accounted for one-third of all home sales this spring. At 33 percent, Oregon’s housing market is in the top 10 in terms of foreclosed homes as a percentage of all home sales. In Oregon, foreclosed homes sell for about 30 percent less on average than non-foreclosed homes…. Read more »

MT: State Doing Better Than Most in Foreclosures

The newest data on home foreclosures says there’s an increase in the Pacific Northwest, but Montana’s doing better than the majority of the United States. Foreclosure-response.org says Montana, as a whole, has fewer foreclosures than most U.S. states, but it’s a different story when you look at individual cities. In some, foreclosures are on the… Read more »

OH: Foreclosure Sales in Toledo Hurt Home Prices

Foreclosure sales are down nationally, but sales in metro Toledo come at nearly half the price of houses not in foreclosure, a report shows. One of every four home sales in metro Toledo was foreclosure related in the April-through-June period, compared with one out of three nationwide, according to figures released Wednesday by RealtyTrac Inc.,… Read more »

US: Foreclosure Slowdown May Extend Time Before Recovery

The numbers of properties in some stage of the foreclosure process has dropped 35% year over year, according to RealtyTrac. But the firm that specializes in the market for foreclosed real estate said this merely represents a further slowdown in processing the numbers of properties owned by people who cannot afford them. “July foreclosure activity… Read more »

HI: New Law Dropped Foreclosures to Lowest Level Since 2009

Effects of Hawaii’s new foreclosure law severely curtailed activity against delinquent borrowers in June. The number of foreclosure filings against borrowers plummeted by two-thirds last month. There were 344 foreclosure filings in June, down 66 percent from 1,000 in the same month last year, real estate research firm RealtyTrac reported today. The June figure was… Read more »

OR: Contradictory Rulings Slow Foreclosures in State, Supreme Court May Step Inn

A Clackamas County judge has ruled in favor of the Mortgage Electronic Registration System in a case that further muddies the waters of the state’s foreclosure crisis. MERS is an electronic system that enables lenders to more quickly package and sell mortgages by side-stepping the recording of transactions at county property offices. The system hit… Read more »

Foreclosures Far From Over in Shasta County

April numbers from a national database suggest the foreclosure crisis that has rocked the local housing market is far from over. Foreclosure filings in Shasta County jumped for the second straight month to 412, RealtyTrac reported today. One home out of every 188 was in some stage of foreclosure in Shasta County in April. The… Read more »

Hawaii Governor Signs Law Giving Homeowners More Rights During Forclosure

For anyone facing the distressing reality of a mortgage foreclosure in the State of Hawai’i, a sliver of hope emerged at the State Capitol earlier this month, when Gov. Neil Abercrombie signed a new law that could make it increasingly harder for lenders to confiscate residents’ homes. On Thursday, May 5, Gov. Abercrombie signed into… Read more »

HI: Oahu Foreclosures Fall for Fifth Month

Home foreclosures continued to fall in April, marking the fifth consecutive month filings in Hawaii have been below the same month in the previous year. Experts, however, said the decline continues to be an artificial depression due to several major lenders holding back on new filings after their loan documentation practices were called into question…. Read more »

MA: Foreclosures Dropped Sharply in April

For the month of April, Massachusetts foreclosure activity remained at levels dramatically below those recorded last year, according to data released this week by the Warren Group, a Boston-based real estate data provider. However foreclosure petitions, which mark the first step in the foreclosure process in the Bay State, posted their highest number so far… Read more »

Canada: Quebec Foreclosure Rates Drop

The number of properties that went into foreclosure, or were seized by mortgage lenders because of non-payment of debt, fell by 15 per cent in Quebec last year to 2,356. That compared with 2,782 properties seized in 2009. The findings were reported recently by economist Paul Cardinal of the Quebec Federation of Real Estate Boards…. Read more »

TX: 40 Month Low for Dallas-Fort Worth Foreclosures

For the first time in more than THREE YEARS, foreclosures are diminishing in Dallas Fort Worth. George Roddy Sr. of Foreclosure Listing Service, Inc. reports some good news preceding the spring market: Dallas-Fort Worth residential foreclosure postings have dropped to a 40-month low. Roddy says that for the upcoming auctions on May 3, only 3,719… Read more »

IA: Des Moines Foreclosures Rising, But Delinquencies Fall

Foreclosure rates in the Des Moines metro area increased in January compared to a year earlier, but the percentage of mortgages seriously delinquent fell, said CoreLogic, a California-based real estate analytics company. The rate of foreclosure among outstanding mortgage loans was 2.83 percent in January, an increase of 0.63 percentage points over January 2010, CoreLogic… Read more »

US: Foreclosures Drop to 36 Month Low

The number of U.S. homes in some stage of foreclosure fell last month to a 36-month low, as lenders delayed taking action against homeowners amid heightened scrutiny over banks’ handling of home repossessions. Foreclosure-related notices sent to homeowners in February tumbled 14 percent from January and 27 percent versus the same month last year, foreclosure… Read more »

New York Foreclosures Drop in February

PropertyShark.com, the premier real estate research site, today released its monthly report covering first-time residential New York City foreclosures for February 2011. Key Report Findings New scheduled foreclosures in NYC were down 82% in February 2011 over February 2010 and were down 59% over January 2011. * Compared to the February 2010 level, the number… Read more »

TN: Nashville Foreclosures Jumped at End of 2010

CoreLogic reports that the Nashville-area foreclosure rate ended 2010 at 1.89 percent, 16 basis points higher than a November number that was itself up 17 beeps from October. We can take some solace from the fact that Middle Tennessee’s housing market is still in much better shape than the nation’s — December’s foreclosure rate was… Read more »

CT: Foreclosures Plummet in February 67%, Also Down Nationwide

A total of 225,101 additional homes went into foreclosure in the U.S. in February, bringing the year-to-date total to 486,434, according to the latest RealtyTrac figures. That’s one of every 577 American homes, but down 13.86 percent, RealtyTrac says. Connecticut currently has 6,794 properties in foreclosure status, RealtyTrac says. The 747 in February is 67… Read more »

TN: Memphis Area Foreclosures on the Rise

“Some of them lost jobs and they could just not afford it at all,” said listing broker Jim Abell. Abell works as a real estate agent and broker hired by Fannie Mae to fix up the foreclosures and get it back on the market. He says Germantown and Collierville have become foreclosure hot spots. “I… Read more »

MA: Foreclosures Jump on Martha’s Vineyard

As the nation grapples with a foreclosure crisis, Island bank and real estate professionals agree the wave of foreclosures is less severe on Martha’s Vineyard than other places in Massachusetts, and other places across the nation. But the Island is not immune. The number of foreclosures in Dukes County spiked in 2009 and 2010, with… Read more »

AZ: Phoenix Foreclosures Account for 43% of Home Sales

Foreclosures accounted for 43 percent of January’s home sales in the Phoenix area, bouncing up from about 30 percent of single-family resales in the last few months of 2010. The latest report from Arizona State University’s W.P. Carey School of Business also reports that more than 3,600 single-family homes were impacted by foreclosure proceedings in… Read more »

US: Foreclosures Up in Most Major Cities

The foreclosure crisis is getting worse as high unemployment and lackluster job prospects force homeowners in an increasing number of U.S. metropolitan areas into dire financial straits. In Seattle, Houston and Chicago, cities that were relatively insulated from foreclosures early on in the housing bust, a growing number of homeowners are falling behind on mortgage… Read more »

NV: One in 10 Reno Homes Foreclosed in 2010

RealtyTrac released its 2010 Year-End Metropolitan Foreclosure Market Report on Wednesday, and one in every 16 Reno-Sparks homes went into foreclosure in 2010. The national average was one in 45 homes. Reno-Sparks ranked 11th on the list of the nation’s 206 metropolitan areas in foreclosure activity. In 2010, 11,005 properties received a foreclosure notice. That… Read more »

Massachusetts High Court Rules Against Banks in Foreclosure Case

The state’s highest court sent ripples through the real estate industry yesterday ruling that banks and lenders must have proper documentation before foreclosing on a home. The Supreme Judicial Court affirmed a 2009 Land Court decision requiring banks to have proper documentation before moving forward on foreclosures. The decision affects thousands of homes that have… Read more »

US Foreclosure Rates Plunged in November

RealtyTrac, the mortgage research firm, reports that foreclosures fell sharply in November. It may be a sign that the housing market has hit bottom. The company said, “its U.S. Foreclosure Market Report for November 2010, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 262,339 U.S. properties in… Read more »