Category: Nevada

Nevada housing market

Home Sales to Soar in 2012

By Mike Colpitts Home sales are already picking up in many areas of the U.S. and are forecast to increase even more in 2012 as pent-up buyer demand plays a critical roll in the housing market recovery. Improving market conditions in the Mid-West and Upper Northern regions of the country are expected to spread into… Continue reading Home Sales to Soar in 2012

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

Index Shows Housing Prices Decline

By Mike Colpitts Housing prices declined an average of 3.9% through the end of October on a year over year basis, according to the CoreLogic housing price index. The index shows that home values have dropped for three straight months, and are especially hard hit in five states. Nevada has led the nation in foreclosures… Continue reading Index Shows Housing Prices Decline

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

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

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

Nevada Makes Illegal Foreclosures Felony

By Mike Colpitts Responding to homeowner complaints, Nevada has become the first state in the nation to make illegally repossessing a home a felony, and may send bankers to jail for doing such. The new law was enacted after tens of thousands of homeowners complained to lawmakers about their homes being foreclosed without proof of… Continue reading Nevada Makes Illegal Foreclosures Felony

Underwater Refinancing Program Closer

By Mike Colpitts A federal program intended to help underwater homeowners should assist more than 1-million U.S. mortgage borrowers refinance their homes, according to an analysis of the Home Affordable Refinance Program expanded by the Obama administration Monday. The program’s expansion is being developed by the Federal Housing Finance Agency with mortgage lenders and the… Continue reading Underwater Refinancing Program Closer

Home Prices Decline Year Over Year

By Kevin Chiu Home prices declined an average of 4.4% on a year-over-year basis in the U.S. through August, despite a slight increase in home values over summer months as a result of higher home sales, and record low mortgage rates, according to real estate research firm CoreLogic. The decline in home values echoes Housing… Continue reading Home Prices Decline Year Over Year