By Kevin Chiu Hampered by internal bank and mortgage servicing company delays, foreclosure notices fell to a 40 month low in April, declining 9% from the prior month and 34% from a year ago. The slowdown represented the seventh straight month of delays in the foreclosure crisis as a result of the moratorium put in… Continue reading Foreclosures Fall Seven Straight Months, But Still at Crisis Level
Category: Florida
Florida housing market
Homeowner Associations May Hit Record Lawsuit Volume
By Mike Colpitts Homeowner and condominium associations straddled with high debt in the real estate crash are resulting in at least thousands of member-owners refusing to pay monthly fees, and may reach record lawsuit volume in U.S. courtrooms. The development was determined during a routine Housing Predictor survey of markets monitored across the nation. The… Continue reading Homeowner Associations May Hit Record Lawsuit Volume
Florida Market #1 in Housing Recovery
By Mike Colpitts An economic development program is driving one Florida County to a recovery in housing long before the rest of the U.S. Lee County, which is home to Fort Myers, has the second highest foreclosure rating in the nation right behind Las Vegas, Nevada on a per-capita basis. But Lee County, which has… Continue reading Florida Market #1 in Housing Recovery
Law Would Waive Taxes
By Mike Colpitts A new proposal made by a Florida member of the U.S. House of Representatives would waive federal income taxes on retirement plans if the proceeds were used to buy a home that was foreclosed. The bill, offered by Representative Bill Posey (R-FL), a Realtor has made the resolution as part of the… Continue reading Law Would Waive Taxes
Win a Condo Raffle for Charity
By Kevin Chiu A Twin-Cities man thinks he’s found a way to buck the tough real estate market and attract attention to sell his condominium, despite the sluggish marketplace, and William Panzarella is doing it all in the name of charity. The Minneapolis condo owner has teamed up with a real estate agent to raffle… Continue reading Win a Condo Raffle for Charity
7 Things Homeowner Associations Won’t Tell You
By Mary Klein Purchasing a home that is part of a homeowners association can involve issues that most homeowners would never think of providing pros and cons. The small print in the rules and regulations that are part of signing up for an association when you purchase a home can be lost in the sea… Continue reading 7 Things Homeowner Associations Won’t Tell You
Chinese Drywall Second Housing Crisis
By Kevin Chiu A second housing crisis is slowly working its way through 20 states as more victims fall ill from poisonous fumes emitting from their very residences. From the Gulf Coast of Louisiana, where workers are replacing toxic Chinese drywall in new homes built for victims of Hurricane Katrina across the country it’s being… Continue reading Chinese Drywall Second Housing Crisis
Miami Condo Sales Skyrocket
By Mike Colpitts The hardest hit real estate market in the U.S. is making a resounding recovery as existing condominium sales in Miami surge 85% in the month of March, according to the Miami Association of Realtors. Condo sales topped 1,500 units. The increase is attributed to lower priced units and near record low mortgage… Continue reading Miami Condo Sales Skyrocket
Hardest Hit Housing Cities Pain Grows
By Mike Colpitts The gambling capital of the U.S., Las Vegas posted the nation’s highest foreclosure rate among metropolitan areas with populations of more than 200,000 in July, but housing foreclosures are spiking in the majority of other top 20 hardest hit housing cities. The gap is shrinking between the gambling mecca and major cities… Continue reading Hardest Hit Housing Cities Pain Grows
Former Mortgage Head Guilty in $2.9 Billion Fraud
By Kevin Chiu The former chairman of a mortgage corporation, once one of the 25 largest in the U.S. has been convicted by a federal jury in a $2.9-billion fraud scheme that drove Colonial Bank and its lending empire, Taylor, Bean and Whitaker out of business and into bankruptcy. The scheme is believed to be… Continue reading Former Mortgage Head Guilty in $2.9 Billion Fraud