Category: California

California housing market

Former Homeowners Not Applying for Aid

By Mike Colpitts More than 4-million former homeowners whose homes may have been foreclosed illegally by the nation’s largest banks have received letters from the U.S. government asking them if they would like their foreclosures to be reviewed. But so disillusioned by the banking industry and their own situations, the over-whelming majority have failed to… Continue reading Former Homeowners Not Applying for Aid

States Rip Off Foreclosure Victims

By Mike Colpitts Almost $1-billion targeted to victims of banking foreclosure fraud is being ripped off from foreclosure victims to be used to pay for other programs for states facing serious financial deficits. The nation’s largest five banks agreed to pay a $25 billion settlement as part of their agreement to settle allegations of illegal… Continue reading States Rip Off Foreclosure Victims

Home Foreclosure Purchases Push Prices Higher

By Mike Colpitts Strong demand for lower priced foreclosure homes held by banks (REOs) and the nation’s giant mortgage lenders by purchasers is starting to send values of all other homes higher, according to real estate research firm Clear Capital. The Truckee, California based data firm said home prices are still losing ground over the… Continue reading Home Foreclosure Purchases Push Prices Higher

More Than Half of Homeowners Can’t Move

More than half of all homeowners with a mortgage are unable to move or make a change in their housing situation as a direct result of being underwater on a mortgage, according to a new Housing Predictor survey. Some 54% of those surveyed online said they were halted from making a move. The other 46%… Continue reading More Than Half of Homeowners Can’t Move

Freddie Mac Fails at Mortgage Modifications

By Mike Colpitts One of the nation’s giant mortgage lenders, Freddie Mac provided only 4,308 mortgage modifications during the month of March in the U.S., and 13,677 for the first three months of the year, according to public figures provided by the lender. The weak volume of mortgage modifications would get the government backed lender… Continue reading Freddie Mac Fails at Mortgage Modifications

Appreciation Forecast Tops 100+ U.S. Cities

For the first time in six years, more than 100 U.S. cities are forecast to experience housing appreciation by the end of the year. After strong evidence of growing economic recovery developed in North Carolina and Utah housing markets, the number of U.S. cities projected to inflate in home values hit 105. Driven by near… Continue reading Appreciation Forecast Tops 100+ U.S. Cities

California Real Estate Bust Offers U.S. Hope

By Mike Colpitts The boom bust cycle of California real estate holds historic lessons that every where else in the U.S. can learn from as the nation sustains the housing crisis driven by the sharpest foreclosure epidemic on record. California has seen home values drop an average of 43.7% since the housing crisis started in… Continue reading California Real Estate Bust Offers U.S. Hope

California Real Estate Bust Offers U.S. Hope

By Mike Colpitts The boom bust cycle of California real estate holds historic lessons that every where else in the U.S. can learn from as the nation sustains the housing crisis driven by the sharpest foreclosure epidemic on record. California has seen home values drop an average of 43.7% since the housing crisis started in… Continue reading California Real Estate Bust Offers U.S. Hope