Tag Archives: Foreclosure Wave

Years of Foreclosures Ahead

The housing market faces several more years with 800,000 to 1 million new foreclosed properties per year, according to Rick Sharga, an executive vice president with Carrington Mortgage Services.  Sharga recently left RealtyTrac, where he helped build a network that … Continue reading

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Home Builders Face New Hurdles

Builders are on track to construct the fewest single family homes in history this year. Total housing starts in July were down 1.7 percent, month to month, which may not sound like a lot, but when you break the number down, you see the problem. Continue reading

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Banks Holding Property Will Hurt Sales

All told, the nation’s biggest banks own more than 872,000 homes as a result of the groundswell in foreclosures, almost twice as many as when the financial crisis began in 2007, according to RealtyTrac, a real estate data provider.  In … Continue reading

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Buyers and Sellers Reluctant To Do Business Together.

This is our  March synthesis of all the national real estate trends! The news is bad for home-owners, good for buyers: prices are down, sales are down further. The smart money is moving in, as a whopping third of all … Continue reading

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Shadow Inventory Might Shrink Quicker In Hardest Hit States

A recent report by the National Association of Realtors (NAR) reveals interesting information regarding the shadow inventory of the hardest hit states. It is pretty well known that Arizona, Nevada, California, and Florida have been most affected by the foreclosure … Continue reading

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Cash Is King in Today’s Distressed Marketplace

For many homebuyers, mortgage financing is hard to come by these days. Lenders have tightened up credit requirements in an about-face from the lax lending of pre-crisis days that put people into mortgages they couldn’t afford and fueled record-high delinquencies. … Continue reading

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Foreclosure Limbo and a Growing Shadow Inventory

Foreclosure time lines and an abundance of distressed home sales are causing wide fluctuations in shadow inventory across the country. On the whole, it is estimated that 5.3 million homes are in limbo between foreclosure and the sales market. Standard … Continue reading

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Fed Shows Signs of Economic Recovery but Housing Weakness

The nation’s economic recovery is on “firmer footing” with conditions in the labor market “improving gradually,” the Federal Reserve said in a statement issued Tuesday following its regular monetary policy meeting. The Fed’s view of the economy was noticeably more … Continue reading

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Double Dip, Shadow Inventory and the New Price Crisis.

Fears of a double dip in housing are giving away to a realization that the nation’s mortgage markets are facing a much colder reality — something that will not so easily be named, but is nonetheless hanging around for a very long time. “No matter what you call it, a ‘double dip’ or the continuation of a long process of deterioration, the current trend in home prices is evidence that housing markets are continuing to languish,” “We expect the negative trend to continue under a severe supply overhang that includes a large and growing “shadow inventory” of homes in default or foreclosure,” Continue reading

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Are Forclosures Slowing? Not Really…

…And More Foreclosures Coming. The number of homes receiving foreclosure filings, default notices, auctions, and repossessions, fell 17% in January compared to a year earlier, RealtyTrac reported today. But that’s still 261,333 properties and a 1% increase compared to December. … Continue reading

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