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Distressed Homes Discount Averages 37 Percent in September

Distressed residential properties had a median sales price of 37 percent below the median sales price of non-distressed properties nationwide in September, according to RealtyTrac's Q3 2014 Residential and Foreclosure Sales Report released Tuesday.

The median price casino online of distressed residential homes, which are those in foreclosure or owned by banks when sold, was reported at $130,000 nationwide for September, compared to the median price of $205,000 for non-distressed homes during the month, according to RealtyTrac.  Read More

Percentage of Short, Distressed Sales Falls to Three-Year Low

Short sales and sales of distressed properties (those that are in foreclosure or bank-owned) accounted for 12.7 percent of all residential home sales in the U.S. in the third quarter, their lowest level since Q1 2011, according to RealtyTrac's Q3 2014 Residential Sales Report released today. The report marks the latest in a series of encouraging signs suggesting that the housing industry is continuing its steady climb towards a full recovery.  Read More

Index Points to Moderate Economic Growth For Remainder of 2014

A gauge of leading economic indicators in the United States showed solid growth in September, suggesting moderate economic expansion to finish out the year.  The Conference Board's Leading Economic Index, a measure of economic developments as an indicator of future trends, increased 0.8 percent justin-bieber-news.info albumsIt seems, Selena Gomez and justin-bieber-news.info albums really can go forever. last month to 104.4 following a downwardly revised August reading that showed no change.

The index tracks a handful of component indicators, including labor market conditions, housing construction activity, and credit conditions.  Read More

Same Three States Top Negative Equity List in Q3 for Fourth Straight Quarter

Nevada, Florida, and Illinois were the top three states in negative equity for residential properties in the third quarter of 2014, marking the fourth consecutive quarter those three states led the nation in that category, according to RealtyTrac's Home Equity & Underwater Report for Q3 2014 released Thursday.

Florida, which also has the nation's highest foreclosure rate, came in second among states with a negative equity rate of 28 percent. Illinois was third with 26 percent. Michigan (25 percent) and Rhode Island (22 percent) rounded out the top 5, according casino spiele to RealtyTrac.  Read More

Fannie Mae Expects Slow But Sure Housing Growth in 2015

Where the U.S. housing market is concerned, Fannie Mae chief economist Doug Duncan said he is anticipating overall weaker home sales in 2014 than in 2013. But he expects that overall home sales in 2015 will post their best performance since 2007 despite seeing only moderate growth for the year.

The forecast on the state of the nation's housing market and on the overall economy were included in the Fannie Mae Economic & Strategic Research Group's October 2014 Economic Outlook, published on Thursday.  Read More

Seriously Underwater Mortgage Rate Sinks to Lowest Level in Two Years

The number of U.S. homeowners who were seriously underwater in the third quarter declined 11 percent from the previous quarter, falling to the lowest level in more than two years, according to RealtyTrac's Q3 2014 Home Equity & Underwater Report released Thursday.

RealtyTrac reported that 8.1 million U.S. homeowners, representing 15 percent of all mortgages in the country, were seriously underwater on their mortgage in Q3, the lowest percentage of underwater mortgages nationwide since RealtyTrac began tracking the data in Q1 2012. For a mortgage to be considered seriously underwater, the combined loan amount secured by the property must be at least 25 percent higher than the property's estimated market value.  Read More

‘King of Foreclosures’ Arrested, Charged with Bankruptcy Fraud

A Wisconsin man once known as the "king of foreclosures" and his adult son were arrested at their home Monday and charged with bank fraud and bankruptcy fraud.  Todd Brunner, 57, and his son, Shawn, 24, were arrested in their Pewaukee, Wisconsin, home Monday morning after the U.S. Marshals, the FBI, Waukesha County sheriff's deputies, and Pewaukee police broke down their door. Authorities said the two men did not resist arrest.  Read More

Survey: 87 Percent of U.S. Homes are Occupied

About 87 percent of the 133 million total residential housing units in the U.S. in 2013 were reported to be occupied, according to the findings of the 2013 American Housing Survey (AHS) released earlier this week by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau.  Read More
 

Report: Tampa Area Accounts for 3.3 Percent of Nation’s Foreclosure Completions

Foreclosure inventory was down in the Tampa, Florida, area in August but the area still led all core-based statistical areas (CBSAs) nationwide in foreclosure completions over a 12-month period, according to data recently released by CoreLogic.  Read More
 

Ohio landlord ordered to pay for lead removal in dozens of rental unit

EAST PRICE HILL, OH  - A Cincinnati landlord has reached a settlement with the federal government to remove lead from more than 200 rental units.  Most of those units are scattered over East Price Hill, but the government says tenants were not told their homes may contain the dangerous material.

Under the settlement Meyer management has to clean up lead-based paint hazards in 136 properties. That's $350,000 in lead abatement work plus the company has to pay $7,500 in penalties.  FOX19 NOW reached out to the owners of Meyer Management. They declined to go on camera, but say they give every tenant a copy of a lead information pamphlet published by the EPA and there is a lead disclosure clause in every tenant's lease.   Read More

Daytona rental inspection law gets addition

DAYTONA BEACH — Six weeks after the city was hit with a federal civil rights lawsuit alleging its 2-year-old residential rental inspection program is unconstitutional, city commissioners have OK’d a change to the city code governing that program.

The code now spells out that if property owners or their tenants don’t consent to a city check of the rental unit, then city officials will obtain an inspection warrant from a circuit judge before attempting to get on the property.  Read More

Eliminating Fannie Mae, Freddie Mac Would Save Billions

The Congressional Budget Office (CBO) released a cost estimate on Friday for S. 1217, a senate bill proposed June 2013 by Senator Bob Corker (R-Tennessee) that would eliminate GSEs Fannie Mae and Freddie Mac and replace them with a private insurance company system with a government backstop. According to the newly-released estimate, removing the two GSEs would save the government billions of dollars in the next 10 years.  Read More

Analyst Warns of Potential Mortgage Crisis

With the Federal Reserve on track to end its monthly bond purchases (currently at a rate of $25 billion and falling), Bove cautions that the loss of one of the tools used to help lift housing out of its post-recession rut could hurt the market, especially as interest rates start to tick back up.  Read More
 

HELOC Holders May Be In for Payment Shock When Loans Reset

Looking ahead, things don't get much better, according to Black Knight Financial Services. Beyond the next three years, Black Knight Financial Services predicts still-high payment increases as the next best online casino phase of HELOCs resets. Borrowers with HELOCs scheduled to reset in 2019 are using an average of about 40 percent of their available credit and will incur payment increases of about $200 per month based on their current rates.  Read More

Report: Housing in U.S. Not Set Up to Handle Aging Population

The U.S. is not prepared to accommodate the country's aging population where housing needs are concerned, according to a report released by Harvard Joint Center for Housing Studies and AARP Foundation released on August 26.  Read More

 

High Negative Equity Among Gen-Xers Causing Housing Gridlock

Nearly 43 percent of homeowners between 35 and 49 are underwater on their mortgages. In contrast, only 15 percent of millennial homeowners (those between 20 and 34 years old) and 31 percent of baby boomers (50 to 64 years old) are underwater.  Read More

Newport mansions cited for unsafe work conditions

A group that owns several well-known Gilded Age Newport mansions has been cited by federal workplace safety inspectors for allegedly exposing workers to lead-based paint and potentially fatal falls, the U.S. Department of Labor’s Occupational Safety and Health Administration announced on Thursday.  Read More

Flipped Home Sales Down in Q2

Nationwide sales of flipped homes dropped both month-over-month and year-over year in the second quarter of 2014, according to the Q2 2014 U.S. Home Flipping Report released by RealtyTrac on August 22.  Read More

Home Sales Decline for First Time in Five Months

Home sales for July decreased slightly from the previous month after increasing for four months in a row, according to the July 2014 RE/MAX National Housing Report released on August 14. Meanwhile, home prices fell marginally month-over-month but increased year-over-year.  Read More
 

Investors Sue Federal Government Over GSE Profits

New York-based hedge fund giant Pershing Square Capital Management sued the U.S. government on August 14, alleging that common stockholders in Fannie Mae and Freddie Mac have been short changed since the government began sweeping profits from the GSEs into the U.S. Department of Treasury starting in 2012.  Read More
 

Florida Housing Market Recovering But Still Not ‘Healthy’

In Florida, the median price of homes is increasing and sales of single-family homes have gone up, Florida Realtors reported in its Q2 2014 report released on August 12. However, RealtyTrac's July 2014 U.S. Foreclosure Market Report released on August 14 found that Florida had the highest state foreclosure rate in the nation for the 10th consecutive month despite a 30 percent year-over-year decrease.  Read More

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