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: Florida
Florida housing market
Underwater Mortgages Drop Slightly
By Mike Colpitts Homeowners with underwater mortgages or those who owe more on their homes than their properties are currently worth dropped in the third quarter in the U.S., according to real estate data firm CoreLogic. The decline, however, was marginal falling to 10.7-million residential homeowners, which is 200,000 less than the second quarter of… Continue reading Underwater Mortgages Drop Slightly
Man Convicted of Filing False Real Estate Liens
By Kevin Chiu A federal jury has convicted a self-admitted “sovereign citizen” of filing $20 billion in false public real estate liens against government officials. The jury returned the verdict in Spokane, Washington after a two day trial against Ronald James Davenport. The 63-year-old Chewelah, Washington resident is an admitted federal tax protestor, whose ex-wife… Continue reading Man Convicted of Filing False Real Estate Liens
Baseball’s Manny Ramirez Finally Sells Penthouse
By Kevin Chiu Exiled ex-baseball star Manny Ramirez has finally sold his Boston penthouse for a major loss after trying to sell the place more than six years, which just might be close to a record for any other earth-bound homeowner. The former baseball slugger finally quit the big leagues in disgrace after being busted… Continue reading Baseball’s Manny Ramirez Finally Sells Penthouse
Cash is King in Current Real Estate Market
By Miike Colpitts As investors attempt to capitalize on the current state of the economy and snap up bargain priced deals in the real estate market, all cash sales are soaring and account for almost one in three residential transactions. Cash is king. Bargain hungry investors have been looking for cheaply priced housing to pay… Continue reading Cash is King in Current Real Estate Market
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
Miami May Set Real Estate Sales Record
By Kevin Chiu As one of the most battered real estate markets in the U.S. few would think Miami was in any position to be setting records. But the sale of homes, townhouses and condominiums is on pace to set a new record for the year in the Florida market, according to the Miami Realtors… Continue reading Miami May Set Real Estate Sales Record
Foreclosures Forecast to Hit 15 Million Homeowners
By Kevin Chiu The foreclosure crisis has produced an overpowering series of affects across the U.S., destroying businesses, taking away livelihoods, tossing millions of homeowners out of their homes and pressuring home prices in the over-whelming majority of neighborhoods lower. The crisis, first forecast by Housing Predictor almost five years ago as the first real… Continue reading Foreclosures Forecast to Hit 15 Million Homeowners
Mortgage Delinquencies Drop
By Kevin Chiu The number of homeowners behind on their mortgages has dropped as a result of a higher number of mortgage modifications, according to one of the nation’s largest providers of mortgage data. The drop in mortgage delinquencies is a positive sign for the housing market, despite an uphill battle banks and mortgage companies… Continue reading Mortgage Delinquencies Drop
Home Buying Affordability Hovers at Best Level
By Mike Colpitts Home buying affordability hovered near its best level in more than 20 years in the second quarter of the year, according to the National Association of Home Builders-Wells Fargo housing index. The measure indicates that 72.6% of new and existing homes sold during the quarter were affordable for families earning the national… Continue reading Home Buying Affordability Hovers at Best Level