By Mike Colpitts Ohio has lead the nation demolishing homes that have been left abandoned in hard hit neighborhoods in the U.S. real estate collapse. The state’s attorney general is now taking the program to an aggressive new level to demolish up to an estimated 100,000 vacant homes. The funds for the program are provided… Continue reading State Launches $75 Million Home Demolition Program
Category: Ohio
Ohio housing market
Home Prices Fall Almost 5% in 2011
By Mike Colpitts Home prices fell nearly an average of 5% last year as a result of a troubled U.S. economy, decaying consumer sentiment, high unemployment and a foreclosure crisis that is running out of control, according to real estate research firm Core Logic. The company’s December Home Price Index showed an average 4.7% decline… Continue reading Home Prices Fall Almost 5% in 2011
2012 Ohio Housing Market
Homes are selling for less than they did a decade ago in many places in Ohio as the tough economy, weak demand and high unemployment trouble the region. But home prices aren’t falling as much as they have been in Ohio and aren’t forecast to decline as much in 2012. The federal home buyers’ tax… Continue reading 2012 Ohio Housing Market
Homeownership Falls Seventh Year
Troubled by a record foreclosure crisis and an economy hinging on an economic collapse, homeownership fell for the seventh straight year to the lowest level in more than a decade, according to the U.S. Census Bureau. The drop in the nation’s homeownership rate is evidence that government programs to increase the number of homeowners only… Continue reading Homeownership Falls Seventh Year
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
Tougher Sanctions on Banks Proposed
By Kevin Chiu U.S. Senator Sherrod Brown (D-OH) is calling for tougher sanctions on banks abandoning homes they foreclose on leaving tax payers on the hook to maintain properties, and tougher standards to prevent evictions of families. “Too many Wall Street banks are walking away from too many Ohio Main Street communities,” said Brown. “And… Continue reading Tougher Sanctions on Banks Proposed
Real Estate Recovery Hard to Fathom
By Kevin Chiu Sometimes it’s hard to fathom. But there isn’t going to be a full-fledged recovery from this real estate crash for many years to come. For some reason a lot of people want to believe that things will somehow mercifully get better—and get better fast – like over night. Some areas of the… Continue reading Real Estate Recovery Hard to Fathom
Home Prices Tumbled Less in 2011
By Mike Colpitts Home prices tumbled an average of 4.3% on a year-over-year basis through last November, according to real estate analytics firm CoreLogic. The company’s Home Price Index, released Monday, confirmed what other real estate research companies reported – that home prices fell less in 2011 than 2010. The Santa Ana, California based firm… Continue reading Home Prices Tumbled Less in 2011
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
Owner Financing Breaks Into Fashion
By Mike Colpitts Owner financing is making a comeback in the housing market as homeowners look for ways to sell their homes in the sluggish economy. Selling a home with an owner carrying the mortgage was hardly heard of during the housing boom, but it’s returned out of necessity as more owners explore alternative ways… Continue reading Owner Financing Breaks Into Fashion