One in three Americans would consider moving to another state in the next one to two years for financial as well as lifestyle considerations, according to a new survey by ERA Real Estate. Read More »
Housing Crisis
US Default Seen Pushing Housing to the Brink
Housing largely dodged a bullet on the government shut down that went into effect October 1, the pending default, however, is an entirely different matter. As the October 17 default deadline nears, knuckle in the housing industry are turning white. Read More »
Foreclosure Starts Rise in 11 States
Thought foreclosures were dead? Not quite. Hallowe’en must be coming because foreclosure filings rose 2 percent in September and new foreclosures are rising from the grave in 11 states. Read More »
Shadow Inventory is a Shadow of Itself
The shadow inventory-the number of homes in the foreclosure pipeline–is down 33 percent from a year ago and now is at its lowest level since August 2008, at least one year before the notion of a foreclosure shadow inventory was recognized. Read More »
Fastest Markets are in Low Gear
Home-selling speeds fell for the fourth month in a row. In August, 27.9 percent of homes went under contract in less than two weeks, down from 29 percent in July and 33.7 percent in April. Read More »
Recovery Pushes 2.5 Million Owners above Water; 20 Percent Still Under-Equitied
Rising home values helped some 2.5 million homeowners return to a state of positive equity, but under-equitied mortgages-those with less than 20 percent equity– still account for one out of five, or 21.1 percent, of all residential properties with a mortgage nationwide in the second quarter of 2013, according to the latest CoreLogic report. Read More »
Another 8.3 Million Underwater Homeowners on Track to Resurface Before 2015
While 10.7 million residential homeowners nationwide owe at least 25 percent or more on their mortgages than their properties are worth, another 8.3 million homeowners are either slightly underwater or slightly above water, putting them on track to have enough equity to sell sometime in the next 15 months — without resorting to a short sale. Read More »
Short Sales Peak, Then Plummet
Distress sales as a whole are falling but short sales are declining twice as fast as fewer homeowners are losing their homes over the past year. Read More »
Seven Million to Struggle with Negative Equity for Four Years or More
Though three million homeowners were freed from the shackles of negative equity in the past year, it will take at least four more years for 7 million or more deeply indebted homeowners to reach positive equity, even as home values continue their current pace of recovery. Read More »
Foreclosure Inventory Plunges 32 Percent
There were only about 49,000 completed foreclosures in the U.S. in July 2013, down from 65,000 in July 2012, a year-over-year decrease of 25 percent. On a month-over-month basis, completed foreclosures decreased 8.6 percent from the 53,000* reported in June. Read More »