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"We believe there are in the neighborhood of 600,000 properties nationwide that banks have repossessed but not put on the market," said Rick Sharga, vice president of RealtyTrac ...
Equifax found that 7% of homeowners with mortgages that were at least 30 days late on their payments in February, that’s up 50% from a year ago. And close to 40% of subprime borrowers are late, up from 23.7% a year ago.
In October of 2008, Meredith Whitney stated on CNBC that she thought home prices would fall more than 40 percent. Today on CNBC she updated her housing forecast to a peak-to-trough decline of 50 percent.
Lastly, I've added another chart titled "Negative Quarters" which shows many quarters each city has seen price declines (for example Phoenix and New York Metro have seen price declines for 11 of the last 11 quarters).
The 10,635 notices of trustee sale issued through March 30 represent a 25 percent increase from February and a 100 percent increase over March 2008, according to Mesa real-estate-research firm Ion Data.
Home prices in 20 U.S. cities fell 19 percent in January from a year earlier, the fastest drop on record, as demand plummeted and foreclosures rose. The S&P/Case-Shiller index’s decrease was more than forecast and compares with an 18.6 percent decrea
Like a dozen or so other cities across the nation, Fresno is dealing with an unhappy déjà vu: the arrival of modern-day Hoovervilles, illegal encampments of homeless people that are reminiscent, on a far smaller scale, of Depression-era shantytowns.
Nicholle Krause first noticed the weeds sprouting in the usually well-manicured grounds of her 320-unit apartment complex in Chandler, Ariz., in December. Soon, signs of neglect began multiplying: Garbage spilled over from the dumpsters, the water in
There is no baptism certificate issued by the local courthouse and no federal tax benefit attached to the confessional booth, the into-the-water-and-out born-again ceremony or any of the other sacraments that believers hold sacred. Only marriage gets
Ron Barnard is throwing in the towel. Like a growing number of the 8.3 million American homeowners who owe more on mortgages than their homes are worth, he's ready to just walk away. Barnard and others like him are starting to worry market expert
New U.S. housing starts and permits unexpectedly rebounded in February, according to data on Tuesday that provided a rare dose of good news for the recession-hit economy and fractured housing market.
The median foreclosed home value of $164,470 was higher than the median resale price, which ASU Realty Studies Director Jay Butler said was due to higher-end homes going into foreclosure while the resale market focused mainly on less expensive homes.
Based on the new listings in February, it appears prices will continue to decline. The median price of the new listings was $160,000, which is an 8.5 percent decline from $174,900 in January.
Notices of Default, Sales at Auction and negative equity at foreclosure surged once again in February, according to Foreclosure Radar’s California Foreclosure Report released Friday. Notices of default increased 21.3 percent from January...
"It doesn't bode well," for the embattled U.S. housing market, said Rick Sharga, vice president for marketing at RealtyTrac, a foreclosure listing firm. "At least for the foreseeable future, it's going to continue to be pretty
An eastern Missouri family expects they'll be able to stay in their home built inside a cave after accepting an offer of a private mortgage contract. A New Jersey-based business offered a 15-year loan with a low interest rate that should allow th
An auction of foreclosed homes in New York City drew protesters who blamed banks for an epidemic of home losses and called for a moratorium on evictions and foreclosures. Two dozen people marched outside a Manhattan convention center where Real Estat
Some areas of the country saw one month price drops of over 8 percent, included in this list are the following, The District of Columbia, Shelby TN, Alameda CA, Plymouth MA, and Denver CO.
The largest percentage declines are Monterey County where prices are down more than 70% or $570,000! The largest prices declines are in the high rent areas and specifically Santa Barbara South Coast with prices declines of nearly $800,000!
Administration officials estimate that the plan will help as many as four million people avoid foreclosure, at a cost to taxpayers of about $75 billion.
One in five U.S. homeowners with mortgages owe more to their lenders than their properties are worth, and the rate will increase as housing values drop in states that have so far avoided the worst of the crisis, a new study shows.
Pending sales of existing U.S. homes fell sharply in January, with the index dropping to a record low, according to a report on Tuesday that showed the deteriorating economy was keeping buyers on the sidelines.
The Census Bureau reports New Home Sales in January were at a seasonally adjusted annual rate of 309 thousand. This is the lowest sales rate the Census Bureau has ever recorded (starting in 1963).
Roughly two in five home sales are 'distress' transactions where the mortgage company must erase some of the original loan amount in order to complete the sale, said the trade association's chief economist Lawrence Yun.
Prices fell at least 1% in all Case-Shiller cities in December, with Phoenix off 5.1% for the month alone!
In Scottsdale, 35 percent of existing-home sales are foreclosures; the foreclosure rate for Maricopa County is 52 percent.
Despite the 25 percent nationwide decline since the 2007 peak, U.S. house prices have still only fallen halfway to fair value. So whatever you think of Obama's plan, don't count on a quick housing-market turnaround.
About 28 percent of mortgage borrowers now owe more than the value of the houses, according to Zelman & Associates. And with equity stocks down 45 to 50 percent, their assets have shrunk more alarmingly, making them less good risks.
The ringleaders are still at-large and are, in fact, busy hatching a plan to dwarf the earlier mistakes.
The housing situation is deteriorating even further with the recent report showing that the median price is now back to $250,000; at this level we would have to go back to February of 2002 which means we have erased 6 years of price gains. And we ar
