Dec 13
The average interest rate on a 30-year, fixed-rate mortgage for the week ending Dec. 13th declined to 3.32% from 3.34% a week earlier according to Freddie Mac. Comparatively, that is down from 3.94% a year ago. Big five banks see 41% drop in notices of default/notices of trustee sales Nationally, foreclosure filings fell 3% from …
Oct 11
Foreclosure activity reached a 5-year low in September with only 180,427 filings made on distressed properties, according to RealtyTrac. The filings surveyed include default notices, scheduled foreclosure auctions and bank repossessions. Nationally a 13% drop from last year Overall, September’s foreclosure numbers fell 7% from August and 16% from last year as more non-judicial foreclosure …
May 30
Zillow just reported that their data shows nearly 16 million homes in this country are now in a negative equity position where the house is worth less than the mortgages on the home. This number is dramatically higher than the approximate 11 million reported by other entities. Why the huge difference? Zillow professes to take into consideration ALL …
May 11
It’s likely you’ve heard the term “short sale” thrown around quite a bit. But what, exactly, is a short sale? A short sale is when a bank agrees to accept less than the total amount owed on a mortgage to avoid having to foreclose on the property. This is not a new practice; banks have …
Apr 18
KCM Blog reported two months ago that foreclosures will significantly increase this summer as a result of The National Mortgage Settlement. This month, both Reuters (Americans brace for next foreclosure wave) and CNNMoney (Flood of foreclosures to hit the housing market) concurred. However, we believe this increase in distressed properties will have a much different impact on the housing market than previous increases …
Feb 21
Homebuilders are working harder to tell their story The cost of a new home from a builder is all built into the price. Compare that with a foreclosure that sells ‘as is,’ but may wind up costing more than a new home because of the ‘fixes’. Online Truth Squad In Phoenix, one large builder, Fulton …
Feb 13
Last week, the Federal government and 49 state governments (Oklahoma being the exception) agreed to a $25 billion settlement regarding robo-signing and the challenges it created in the foreclosure process. We want to give a synopsis of the settlement and some perspective on what effect it will have on the housing market in 2012. The …
Jan 18
Optimism is building that the housing industry is nearing a bottom — finally. Home sales and home building are forecast to rise this year after sliding steeply the past five years in housing’s worst downturn since the Great Depression. Recovery is expected to be slow, and home prices are widely expected to fall this year. …
Jan 16
The number of foreclosure filings last year fell for the first time in at least five years, but don’t break out the champagne glasses yet says a recent Seattle Times article. Filings fell by 34 percent nationwide, 24 percent in Washington state and 21 percent in the Seattle metro area, according to foreclosure listing firm …
Jan 12
2011 Foreclosures down 35% from 2010 Banks filed foreclosures on roughly 205,000 homes in December, the lowest monthly total since November 2007, according to RealtyTrac. The 1.8 million foreclosures for 2011 dropped nearly 35% from 2010. Unexpected delays kept 2011 numbers from passing the previous year’s total as was originally expected. Still, one in every 69 homes received …
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