Category: Foreclosure

Tight Housing Inventory Slows Recovery

By Mike Colpitts A tight inventory of homes restricted by new bank foreclosure procedures and underwater homeowners unable to sell homes slows the U.S. housing market from making a swift recovery. The limited supply of existing homes listed for sale is producing multiple offers in some cities, and sluggish sales in others. Housing inventory has… Continue reading Tight Housing Inventory Slows Recovery

Summer Home Sales Decline

By Ryan Jackson Despite record low mortgage rates and the lowest home prices in years, existing home sales disappointingly fell for the second straight month in June as consumers remain skittish about the U.S. economy to a seasonally adjusted rate of 4.37 million units. The usually busy summer selling season has gotten off to a… Continue reading Summer Home Sales Decline

Foreclosure Filings Top 1-Million

By Ryan Jackson More than 1-million U.S. homes had foreclosure filings of some sort filed against them in the first half of the year ( 1,045,801), according to RealtyTrac. First half foreclosure activity increased in 20 states from a year ago, including hard hit Florida, California, Illinois, Indiana, South Carolina and upscale Connecticut. Final foreclosure… Continue reading Foreclosure Filings Top 1-Million

Home Buyer Traffic Tumbles

By Mike Colpitts Home buyer foot traffic in new housing developments tumbled in May, indicating future home sales are expected to weaken, according to the latest Campbell-Inside Mortgage Finance survey. The closely watched index fell from 51.6 in April to 44.8 in May demonstrating major weakness in new home sales are expected in coming months,… Continue reading Home Buyer Traffic Tumbles

Banks Play Catch Up On Foreclosures

By Mike Colpitts Banks are playing catch up formally repossessing homes in judicial foreclosure states as they unwind a back-log of foreclosures from the robo-signing scandal. The foreclosure inventory remains at near all-time highs with 4.12% of all  U.S.  homes with mortgages in the foreclosure pipeline, according to Lender Processing Services. However, new problem loan… Continue reading Banks Play Catch Up On Foreclosures

Homeowners Living Free Longer

By Mike Colpitts Homeowners facing foreclosure in default on mortgage payments are living longer in their homes without making loan payments than ever before, according to foreclosure firm RealtyTrac. The lengthy foreclosure process is good news for homeowners in desperate straits able to live in their homes for free, many of whom are unemployed or… Continue reading Homeowners Living Free Longer

70 US Cities Forecast with Higher Home Prices

By Mike Colpitts Nearly mid-way through the year 70 U.S. cities housing markets are forecast to recover in 2012, and some of them are already making successful inroads on their way with appreciating home prices. The cities include five that were forecast by Housing Predictor at the beginning of the year to appreciate in value,… Continue reading 70 US Cities Forecast with Higher Home Prices

Feds Pick Firms for Wholesale Home Sell Off

By Mike Colpitts The U.S. government has selected the firms it’s going to sell the first bulk inventory of its foreclosure homes to at wholesale prices. The Federal Housing Finance Agency (FHFA) quietly announced that the winning bidders of its real estate owned (REO) pilot program had been chosen the day before the Independence Day… Continue reading Feds Pick Firms for Wholesale Home Sell Off

Home Sales Extend 11 Month Growth Rate

By Mike Colpitts Despite a decline in existing home sales in May, the actual number of residential sales increased for 11 straight months compared to a year earlier. The dynamic adds fuel to the U.S. housing market recovery as consumers hoping to make home purchases during the summer take advantage of near record low mortgage… Continue reading Home Sales Extend 11 Month Growth Rate