Category: Florida

Florida housing market

Foreclosures Drop Two Straight Months

By Mike Colpitts Demonstrating the U.S. largest five banks are following rules agreed to in their $25 billion settlement with 49 state attorney generals, foreclosures saw a drop for two straight months in March as lenders increased efforts with home mortgage holders, according to RealtyTrac. The drop in foreclosure activity showed there were 198,853 filings… Continue reading Foreclosures Drop Two Straight Months

Foreclosures Drop Two Straight Months

By Mike Colpitts Demonstrating the U.S. largest five banks are following rules agreed to in their $25 billion settlement with 49 state attorney generals, foreclosures saw a drop for two straight months in March as lenders increased efforts with home mortgage holders, according to RealtyTrac. The drop in foreclosure activity showed there were 198,853 filings… Continue reading Foreclosures Drop Two Straight Months

Home Values Rising in Hard Hit Markets

By Mike Colpitts A tighter inventory of homes listed on the market for sale are sending home values rising in some of the most unlikely U.S. housing markets, according to real estate research firm CoreLogic. Three states which cities have experienced some of the steepest deflation in home values in the nation are witnessing appreciation.… Continue reading Home Values Rising in Hard Hit Markets

Florida Capital Named Baby Boomers Favorite

The capital of Florida has been named the favorite U.S. city for baby boomers to retire by a Washington based economics research group. Tallahassee, Florida won out over 20 other cities considered for the prestigious award as the ideal place to retire. The southern city was selected after researchers considered a combination of factors, including… Continue reading Florida Capital Named Baby Boomers Favorite

Chinese Drywall Damage Tops 100,000 Homes

By Mike Colpitts Attorneys are working on a class action settlement with the makers of Chinese drywall that has damaged or destroyed more than 100,000 U.S. homes. But the drywall, which has been used in the construction of homes since as early as 2001 may soon be outlawed in the U.S. Homeowners in at least… Continue reading Chinese Drywall Damage Tops 100,000 Homes

Underwater Mortgage Reductions Likely

By Mike Colpitts Federal officials are reviewing the possibility of starting mortgage principal reductions for underwater homeowners, according to the chief executive officer of Freddie Mac. The review was triggered by a U.S. Treasury Department offer that would triple payments to mortgage investors who allow the reductions through the Home Affordable Modification Program (HAMP). A… Continue reading Underwater Mortgage Reductions Likely

NAR President Says Home Prices Going Up

By Mike Colpitts The new president of the National Association of Realtors says that home prices have gotten so low there’s only one way for them to go – up. “People realize that homeownership is an investment in their future. Given an apparent over correction in most areas, over the long term home prices have… Continue reading NAR President Says Home Prices Going Up

Petition to Halt Strategic Defaults Launches

By Ryan Jackson A Florida loan officer angered by bank representatives telling homeowners to default on their underwater mortgages in efforts to be granted bank assisted short sales has started a petition drive to halt the massive movement. Pam Marron, a loan officer in Tampa, Florida for 27 years has posted the petition online at… Continue reading Petition to Halt Strategic Defaults Launches

Foreclosures Drop But on Pace to Hit Record

By Mike Colpitts Foreclosure filings dropped a slim 2% in February, but are still on pace to hit a new record volume for 2012, despite an increase in short sales by lenders on homes in default of their mortgages, according to RealtyTrac. February foreclosure activity in the 26 states with judicial foreclosures rose 2% from… Continue reading Foreclosures Drop But on Pace to Hit Record