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By Dennis Norman, on September 2nd, 2010
Dennis Norman
A report published by Lender Processing Services (LPS) analyzing homeowner’s performance on their mortgages as of July 2010 shows that mortgage delinquencies continue to decline however are still at very high levels versus historical norms. At the same time however, foreclosure starts have increased to the fourth highest level on record. [...]
By Dennis Norman, on August 13th, 2010
Dennis Norman
I remember, not that long ago, when 300,000 foreclosures in a month would have seemed unreal. However, July now marks the 17th consecutive month that there have been foreclosure filings exceeding 300,000 for the month.
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By Dennis Norman, on August 9th, 2010
Dennis Norman
A report just issued by Zillow shows that home values in the United States continued to decline in the second quarter of 2010, with the Zillow Home Value Index falling 3.2 percent year-over-year and 0.6 percent from the first quarter to $182,500. The national rate of decline decelerated from the [...]
By Dennis Norman, on July 15th, 2010
Dennis Norman
According to a report released this morning by RealtyTrac there were 1,961,894 foreclosure filings in the first six months of 2010 on 1,654,634 housing units in the U.S. This reflects a 5 percent decrease from foreclosure activity for the prior 6 month period but is an 8 percent increase from the same [...]
By Dennis Norman, on July 9th, 2010
Dennis Norman
For way too long I’ve been writing about record, or near- record, levels of foreclosures and mortgage delinquencies. My ongoing concern about this, in terms of the housing market, is that I just don’t see how we are going to have a sustainable recovery of the housing market while we have [...]
By Dennis Norman, on July 6th, 2010
Dennis Norman
Homeowners’ mortgage delinquency rates increased in May 2.3 percent from April rising to 9.2 percent of all mortgages being delinquent. This information comes from a report issued by LPS Applied Analytics, one of the largest mortgage servicers in the U.S.
According to the report there are, as of May 31, 2010, 7.3 million home [...]
By Dennis Norman, on June 30th, 2010
Dennis Norman
Average discount on Foreclosure and Bank-Owned Homes is 27 Percent
This morning RealtyTrac released a report stating that 31 percent of all residential sales in the first quarter of 2010 were foreclosure homes or bank-owned homes. They are reporting 233,000 foreclosure and bank-owned homes sold during first quarter 2010 at an average price [...]
By Dennis Norman, on June 25th, 2010
Dennis Norman
According to a report issued by Radar Logic Incorporated government-sponsored enterprises (GSEs) and Federal agencies involved in housing finance currently have an inventory of over 200,000 repossessed homes. Being the largest owner of foreclosed homes in the U.S. gives the government a lot of power and influence over the housing [...]
By Dennis Norman, on June 24th, 2010
Dennis Norman
I spent this morning reading a sobering and, quite frankly depressing, report issued by the Center for Responsible Lending that focused on the demographics of people losing their homes as a result of foreclosure. The report is done well and looks at the impact of foreclosures on different races and ethnicity’s and then [...]
By Dennis Norman, on June 10th, 2010
Dennis Norman
The good news is, foreclosure activity for the U.S. in May decreased by 3 percent according to a report released by RealtyTrac. The bad news is, May marked the 15 th consecutive month where the overall foreclosure activity has surpassed 300,000 actions; that’s about 4 million foreclosures in the past 15 months.
For [...]
By Dennis Norman, on June 8th, 2010
Dennis Norman
I don’t think I need to tell real estate investors about the record foreclosure rates we have seen as well as the unprecedented number of people that are struggling to make their house payments. As a result, there are many good opportunities out there for real estate investors to acquire property at good [...]
By Dennis Norman, on June 4th, 2010
Dennis Norman
Back in January I did a post about FHA’s decision to temporarily (until February 1, 2011 if not revoked earlier) waive their “anti-flipping” rule, thereby allowing homes to be resold with FHA-insured financing even if the sale took place within 90 days of the selling acquiring the property. There were, of course, conditions [...]
By Dennis Norman, on June 1st, 2010
UPDATE- June 2, 2010: The National Association of REALTORS obtained answers from the Treasury Department on 3 common questions about HAFA:
agents are not permitted to rebate a portion of their commission to the buyer,
sellers who are real estate agents must list their home for sale with another broker, [...]
By Dennis Norman, on May 19th, 2010
1st Quarter Delinquencies; Up? Down? He said – She Said…
If you frequent this site, then you may recall that a little over a week ago (May 10th to be exact) I wrote a post that said the delinquency rate for homeowners mortgages had dropped in the first quarter of this year, the first drop [...]
By Dennis Norman, on May 17th, 2010
RealtyTrac® released its U.S. Foreclosure Market Report™ for April 2010, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 333,837 U.S. properties during the month of April, a decrease of 9 percent from the month before and a 2 percent decrease from April, 2009. This is [...]
By Dennis Norman, on April 29th, 2010
RealtyTrac® released its U.S. Foreclosure Market Report™ for the first quarter of 2010, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 932,234 U.S. properties during the first quarter of 2010, an increase of 16 percent from the first quarter of 2009 [...]
By Dennis Norman, on April 26th, 2010
Dennis Norman
In a report just issued by Radarlogic there is some good news for the housing industry as in the report Michael Feder, President and CEO of Radar Logic, states “the evidence continues to support the view that housing has stabilized and is in the early stages of recovery.” However, the report also reminds [...]
By Dennis Norman, on April 16th, 2010
A Stockton real estate executive pleaded guilty today in the U.S. District Court in Sacramento, Calif. to conspiring to rig bids at public real estate foreclosure auctions held in San Joaquin County, Benjamin B. Wagner, United States Attorney for the Eastern District of California and Christine Varney, Assistant Attorney General of [...]
By Dennis Norman, on April 6th, 2010
Dennis Norman
At the Federal Open Market Committee meeting on March 16th it was suggested that “economic activity expanded at a moderate pace in early 2010″. Unfortunately, when it came to the housing market, the news was not as good and it was noted that “housing activity remained flat and the nonresidential construction section weakened [...]
By Dennis Norman, on March 29th, 2010
Over 11 million homeowners in the US have Negative Equity
Dennis Norman
According to a report released by First American CoreLogic estimating that the typical U.S. homeowner whis is currently in a negative equity position will not see positive equity in their homes until late 2015 to 2016. Furthermore, in some depressed markets, the underwater homeowner [...]
By Dennis Norman, on March 12th, 2010
For the 12th Straight Month over 300,000 properties received a foreclosure filing in February;
RealtyTrac® released its February 2010 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 308,524 U.S. properties during the month of February, a decrease of 2 percent from the previous month but still 6 percent [...]
By Dennis Norman, on March 5th, 2010
Dennis Norman
A report released by First American CoreLogic shows the foreclosure rate in the US increased in January to 3.19 percent, an increase of 60.3 percent from a year ago when the national foreclosure rate was 1.99 percent.
The national rate for seriously delinquent mortgage’s (mortgages that are 90+ days delinquent) increased in January as [...]
By Dennis Norman, on February 16th, 2010
Dennis Norman
Deceleration in Rise of Mortgage Delinquencies Short Lived
Back in July, 2009 when speaking in North Carolina President Barack Obama announced “we may be seeing the beginning of the end of the recession“. My thoughts then were that was very optimistic and I didn’t agree (for whatever that is worth). Since then [...]
By Dennis Norman, on February 12th, 2010
Overall Activity Up 15 Percent From January 2009, REOs Up 31 Percent From January 2009; More Than 300,000 Properties Receive Foreclosure Filings for 11th Straight Month
RealtyTrac® today released its January 2010 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 315,716 U.S. properties during [...]
By Dennis Norman, on January 28th, 2010
Dennis Norman
Top 20 Cities Are From California, Florida, Nevada and Arizona; Utah, Illinois, Oregon, Idaho Cities Indicate Foreclosure Problem Is Spreading.
Today RealtyTrac® released its year-end 2009 Metropolitan Foreclosure Market Report which shows that cities in four Sun Belt states accounted for all top 20 foreclosure rates in 2009 among metro areas with a population [...]
By Dennis Norman, on January 18th, 2010
Dennis Norman
The foreclosure rate in the U.S. for the month of November, 2009 was 3.09 percent, a 77.6 percent increase from November, 2008 when the rate was 1.74 percent according to a report by First American CoreLogic.
In addition, the report showed that the number of borrowers that are seriously delinquent on their
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By Dennis Norman, on January 18th, 2010
Dennis Norman
In an effort to “stabilize home values and improve conditions in communities where foreclosure activity is high” FHA just announced a temporary waiver of requirements of 24 CFR 203.37a(b)(2). For those of you that don’t have your copy of the Code of Federal Regulations handy, this is referring to what is generally known [...]
By Dennis Norman, on January 14th, 2010
Dennis Norman
December’s foreclosure actions mark tenth straight month of over 300,000 notices and drive the 2009 total to over 3.9 Million notices on over 2.8 Million properties.
This morning RealtyTrac® released its year-end U.S. Foreclosure Market Reporttm for the year 2009.
The report shows a total of 3,957,643 foreclosure filings (default notices, scheduled foreclosure auctions and [...]
By Dennis Norman, on January 7th, 2010
It’s not surprising, that according to Zip Realty foreclosures and short sales dominated the U.S. housing market last year and were the driving force for the real estate roller coaster ride of 2009.
Zip Realty broke down what they considered were the nine major real estate stories for 2009 and they are:
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By admin, on December 18th, 2009
Ten signs that trouble might be just around the corner.
It’s easy pickings out there for many potential home buyers. Housing prices are at their lowest in more than a decade, inventories are high, analysts are predicting a new wave of foreclosures and the government is offering two substantial tax credits for which many home buyers [...]
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