By Mike Colpitts The inventory of homes not yet foreclosed but regarded as unsellable as they are held back from the market known as the shadow inventory has dropped to January 2009 levels, according to real estate data firm CoreLogic. California, Florida and Illinois, where foreclosures are at some of the highest levels in the… Continue reading Shadow Inventory Slides to 2009 Levels
Category: California
California housing market
Foreclosures Show Positive Fall
By Kevin Chiu Foreclosure filings dropped 14% in November experiencing a positive fall as default notices, scheduled bank auctions and bank repossessions hit their lowest level in a year, according to RealtyTrac. However, some of the hardest hit states, including California, Arizona and Massachusetts posted year-over-year increases in November. Foreclosure auctions, the final step in… Continue reading Foreclosures Show Positive Fall
Home Inventory Drops to 4-Year Low
By Mike Colpitts Homes listed for sale on the market dropped for the fifth consecutive month, hitting the lowest level in four years. The drop is a positive sign for the housing market, which has seen more home sales in recent months to aid the struggling market. Housing inventory at the end of October dropped… Continue reading Home Inventory Drops to 4-Year Low
Real Estate Investors Plead Guilty in Conspiracy
By Mike Colpitts Eight real estate investors have pleaded guilty for their roles in a criminal conspiracy at real estate foreclosure auctions. The charges against the investors carry up to 30 years in U.S. federal prison and $1-million in fines. The investors agreed to enter the guilty pleas after a federal investigation led to their… Continue reading Real Estate Investors Plead Guilty in Conspiracy
Foreclosures Rise in October, But Nevada’s Chill
By Mike Colpitts Foreclosure auctions, the final step in the formal bank repossession process increased in October, rising 8% from the prior month as foreclosures in states that require courts to formally approve foreclosures moved higher recovering from bank moratoriums. But Nevada saw a major drop in foreclosures as a result of a new law… Continue reading Foreclosures Rise in October, But Nevada’s Chill
US Offers Foreign Residency for Real Estate
By Jeanne Roberts It’s an interesting offer – As a foreigner, buy a home in the United States for $500,000 or more and get a visa that lets you also live in the country. Buyers could also qualify for the visa by purchasing a $250,000 home and spending an equivalent amount on residential real estate… Continue reading US Offers Foreign Residency for Real Estate
Title Officers Charged in Robo-Signing Felonies
By Mike Colpitts Two title officers associated with Lender Processing Services have been indicted by a Nevada county grand jury on charges related to illegal robo-signings, according to the Office of the Nevada Attorney General. The two LPS employees, Gary Trafford and Gerri Sheppard, were indicted on 606 counts. The charges relate to allegations of… Continue reading Title Officers Charged in Robo-Signing Felonies
Energy Proposal Could Save Homeowners Money
By Jeanne Roberts In the modern world, mortgage appraisers calculate the value of residential real estate based on its age, location, square footage, general appearance, amenities, and tax burden. Many also include an amorphous “fudge value” to take into consideration intangibles like a superb school district, or the hazard-limiting value of being at the end… Continue reading Energy Proposal Could Save Homeowners Money
REITs Benefit Biggest From Low Interest Rates
By Mike Colpitts Real Estate Investment Trusts (REITs) are benefitting from the Federal Reserve’s low interest rate policy more than any other single sector of the U.S. economy, and their profit windfalls are being returned to investors. Once thought to have seen their day, REITs are still benefitting from the Fed’s low interest rates stand,… Continue reading REITs Benefit Biggest From Low Interest Rates
California Expands Hardest Hit Homeowner Aid
By Kevin Chiu As one of the Hardest Hit states in the U.S. in the housing crash, California is expanding its $2 billion program to help homeowners avoid foreclosure. But this increase will be dedicated to helping only second home or vacation homeowners. The proceeds, originally established by the California Housing Finance Agency from proceeds… Continue reading California Expands Hardest Hit Homeowner Aid