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short sales

Las Vegas-Area Home Sales Drastically Slow in February

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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

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

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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

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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

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

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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

Investors Purchasing Distressed Homes Masking True Housing Recovery

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The Demand Institute recently published a 96-page report detailing the importance of housing for the American people. Housing, by their definition, takes into consideration apartments, estates, everything in between.Click to continue

Nearly 770,000 Homeowners Granted Loan Mods in 2013

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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

CoreLogic: Annual Home Price Growth Strongest Since 2005

Home Equity/Credit: Comstock

CoreLogic has released its December CoreLogic Home Price Index (HPI) report which found that year-over-year, home prices nationwide, including distressed sales, increased 11 percent in December 2013 compared to December 2012. This change represents the 22nd consecutive monthly year-over-year increase in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, decreased by 0.1 percent in December 2013 compared to November 2013.Click to continue

Foreclosure Inventory Down Nearly 30 Percent as 2013 Ends

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The Data and Analytics division of Black Knight Financial Services (formerly the LPS Data & Analytics division) has reported the following "first look" at December 2013 month-end mortgage performance statistics derived from its loan-level database representing approximately 70 percent of the overall market.Click to continue