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Las Vegas-Area Home Sales Drastically Slow in February

Home for Sale Pic

Las Vegas-area homes sold at the slowest pace for a February in five years as the inventory of homes for sale remained tight and some buyers faced credit and affordability challenges. The median price paid for a home edged up from January and rose 24 percent from a year earlier, marking the 16th consecutive month with an annual gain over 20 percent, according to San Diego-based DataQuick. In February, 3,230 new and resale houses and condos closed escrow in the Las Vegas-Paradise metro area (Clark County).Click to continue

NeighborWorks Awards NFCC Nearly $2.5 Million to Support Foreclosure Counseling


NeighborWorks America has awarded the National Foundation for Credit Counseling (NFCC) Intermediary $2,416,873 to support foreclosure prevention counseling. This much-needed funding will enable the 50 NFCC member agencies that make up the Intermediary to continue providing foreclosure prevention counseling to families and individuals facing the threat of losing their home.Click to continue

Southern California Home Sales Dip to Six-Year Low in February

House For Sale/Credit: Jupiterimages

Southern California home sales dropped to the lowest level for a February in six years as many would-be buyers struggled with inventory constraints, credit hurdles and reduced affordability. The median price paid for a home edged up slightly from January and remained nearly 20 percent higher than a year earlier, according to San Diego-based DataQuick. A total of 14,027 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month.Click to continue

Blackstone Group Curbs Distressed Property Shopping Spree


The Blackstone Group, a private-equity firm that has recently been buying up foreclosed homes and renting them out to former distressed homeowners, has dialed-down their purchasing operation significantly.Click to continue

U.S. Foreclosures Drop by 20 Percent Year-Over-Year in January

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CoreLogic released its January National Foreclosure Report, which provides data on completed U.S. foreclosures and foreclosure inventory. According to CoreLogic, for the month of January 2014, there were 48,000 completed foreclosures nationally, down from 59,000 in January 2013, a year-over-year decrease of 19 percent. On a month-over-month basis, completed foreclosures were up 11.8 percent from the 43,000 reported in December 2013.Click to continue

Negative Equity Rate Dips Below 20 Percent to Close 2013

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The national negative equity rate ended 2013 below 20 percent for the first time in years, dipping to 19.4 percent of all homeowners with a mortgage, according to the fourth quarter Zillow Negative Equity Report. Nationally, more than 9.8 million homeowners remain underwater, owing more on their mortgage than their home is worth. Negative equity has fallen for seven consecutive quarters as home values have risen, freeing almost 3.9 million homeowners nationwide in 2013.Click to continue

Short Sales and Foreclosures Account for Nearly One-Fifth of All U.S. Home Sales in January


RealtyTrac released its January 2014 Residential & Foreclosure Sales Report, which shows that institutional investors — defined as entities purchasing at least 10 properties in a calendar year — accounted for 5.2 percent of all U.S. residential property sales in January, down from 7.9 percent in December and down from 8.2 percent in January 2013.

The January share of institutional investor purchases represented the lowest monthly level since March 2012 — a 22-month low.Click to continue

What Are Lis Pendens and Why Are They Important to Your Property Searches?


Whether you’re new to real estate or a battle-hardened professional, you likely know that there’s an opportunity to make money working with distressed properties. If you have the skills and/or nerve to take on these kind of properties, you may be able to turn a profit in this sector as an investor, agent, appraiser, lender, or through some other angle.Click to continue

Nearly 770,000 Homeowners Granted Loan Mods in 2013


HOPE NOW released its final 2013 loan modification data, which shows that approximately 768,000 homeowners received permanent, affordable loan modifications from mortgage servicers in 2013. The reported data for December shows that, for the year, mortgage servicers completed approximately 592,843 proprietary loan modifications for homeowners and 175,076 Home Affordable Modification Program (HAMP) modifications (as reported by US Treasury Department). December data also showed approximately 281,000 short sales completed for the year.Click to continue

Monthly Foreclosure Activity Rises Eight Percent in January

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RealtyTrac has released its U.S. Foreclosure Market Report for January 2014, which shows foreclosure filings were reported on 124,419 U.S. properties in January an eight percent increase from December but still down 18 percent from January 2013. The report also shows one in every 1,058 U.S. housing units had a foreclosure filing during the month.Click to continue